Pickleball Stocks: Three Public Companies Riding the Sport's Explosive Growth Wave

The “pop, pop, pop” sounds echoing across American neighborhoods these days? That’s the unmistakable rhythm of pickleball paddles connecting with the court. What was once a niche recreational activity has transformed into the nation’s fastest-growing sport, and savvy investors are starting to notice that pickleball stocks may represent a compelling market opportunity. With more than 48 million U.S. adults stepping onto a pickleball court over the past year—roughly one-fifth of the entire adult population—the sport’s meteoric rise shows no signs of slowing down.

The pickleball phenomenon didn’t happen overnight. Though the sport has existed for nearly six decades, its trajectory shifted dramatically during the pandemic when people sought safe, socially-distanced activities. What followed was unprecedented growth that continues to accelerate. Celebrity-backed ventures like Rob Gronkowski’s upcoming Crush Yard Pickleball Club & Restaurant in Orlando, Pickle Haus in Chicago, and the Rally complex in Charlotte symbolize just how mainstream pickleball has become. The market tells the story too: analysts forecast the sport’s infrastructure and equipment market to expand at 10% annually, potentially reaching $2.3 billion by 2028.

For investors seeking exposure to this booming sector, the challenge has been limited options. Direct investments—whether owning a pickleball facility or purchasing a Major League Pickleball franchise commanding up to $10 million per team—typically demand substantial capital commitments that aren’t practical for most portfolios. However, publicly traded companies with significant pickleball exposure offer a more accessible entry point. While none qualify as pure-play pickleball bets, these three corporations have positioned themselves strategically within the sport’s rapidly expanding ecosystem.

Life Time Group Holdings (LTH): The Court Infrastructure Play

Minnesota-based Life Time operates over 160 athletic resort destinations across North America, combining fitness facilities, wellness programs, and digital health offerings. What makes Life Time particularly interesting for pickleball stocks investors is the company’s aggressive expansion into court infrastructure. Life Time Pickleball operates more than 500 permanent courts—far and away the dominant court operator in the private sector—absorbing substantial demand from the sport’s explosive growth.

The numbers reveal the appeal. Between 2022 and 2023, the number of unique Life Time Pickleball participants skyrocketed 673%, indicating the sport’s ability to drive engagement and membership stickiness. This participation surge translates directly to revenue. Members at Life Time facilities averaged $228 monthly in the first half of 2023, representing a 27% increase from the comparable 2019 period. The company’s profitability demonstrates this model works: Life Time recorded $83 million in net profits in a recent quarter, a dramatic turnaround from the prior year’s $389 million loss.

Management is doubling down on pickleball’s potential. The company is constructing a 40,000-square-foot pickleball complex in Harbour Island, Florida, featuring 15 outdoor courts plus resort amenities. More significantly, Life Time’s development pipeline includes over 80 planned locations across North America—virtually all will incorporate pickleball facilities as a standard offering. For investors evaluating pickleball stocks, LTH represents the clearest beneficiary of explosive participation growth.

Skechers (SKX): Winning the Footwear and Apparel Market

Not all pickleball stocks are court providers. Skechers has strategically positioned itself as the sport’s leading footwear and apparel supplier. Visit the company’s online store and you’ll find two dozen dedicated pickleball sneaker models ranging from $75 to $115—significantly undercutting competitors like Nike and appealing to both recreational players and professionals seeking affordable, quality footwear.

The company’s dominance in this niche stems partly from official partnerships. Skechers serves as the official footwear supplier for all professional pickleball leagues, plus the grassroots USA Pickleball organization—the sport’s governing body. This credibility translates into market share.

But Skechers isn’t sitting still domestically. The company is aggressively pursuing international expansion, treating emerging pickleball markets as significant growth frontiers. The sponsorship of the Pickleball Canada National Championship in Regina, which attracted over 1,000 competitors, exemplifies this strategy. England represents another key target; Skechers is signing influential international pros and securing sponsorship deals to establish brand presence before the sport reaches mass adoption there.

The market has responded. In mid-2023, Skechers reported record quarterly sales alongside a stunning 67% year-over-year profit surge that exceeded Wall Street expectations. During the earnings call, CEO Robert Greenberg specifically attributed growth momentum to demand for “high-performance golf and pickleball shoes,” highlighting how the sport is now a material driver of results. For investors hunting pickleball stocks at attractive valuations, the recent pullback in Skechers shares to the low $50s range may present a compelling buying opportunity.

Carvana (CVNA): The Sponsorship and Brand Rehabilitation Angle

The final pickleball stocks play deserves attention for entirely different reasons. Used-car e-commerce company Carvana has experienced a remarkable stock surge exceeding 970% year-to-date, driven by improved financial performance and market sentiment shifts. Yet the company’s sponsorship of the Carvana Pro Pickleball Association Tour may deserve more credit than investors typically acknowledge.

The PPA Tour features the world’s elite pickleball talent competing in week-long events that have become regular programming on major networks including ESPN and CBS. This exposure generates massive viewership—and crucially, ensures Carvana signage and promotional messaging reach millions of households. The company has even launched television advertising featuring women’s world number one Anna Leigh Waters, using her star power to promote Carvana’s distinctive used-car vending machines.

Why does this matter strategically? Carvana’s reputation suffered from bankruptcy concerns, price-gouging allegations, and service quality issues. Associating with pickleball—a sport celebrated for inclusivity, community, and positivity—represents a sophisticated brand rehabilitation strategy. For pickleball stocks investors, the takeaway is that CVNA’s exposure to the sport operates as an underappreciated turnaround catalyst beyond the company’s core financial metrics and debt reduction initiatives.

The Investment Takeaway

The pickleball boom is undeniably real, supported by compelling participation data and market growth forecasts. While direct ownership of courts or professional teams demands prohibitive capital, pickleball stocks offer three viable ways for public market investors to gain exposure to this multibillion-dollar trend. Life Time captures court infrastructure demand, Skechers dominates apparel and footwear, and Carvana leverages sport sponsorship for brand value. Together, they represent a diversified portfolio approach to capitalizing on America’s fastest-growing recreational sport phenomenon.