|12-06-2018 08:57 AM CET - Sports||
Global Softball Equipment Market Expectations & Growth Trends Highlighted until 2026 | Key Players - Nike, Newell Brands , Mizuno Corporation, Under Armour , Phoenix Bat Company, Adidas, Amer Sports, Zett Corporation, Schutt Sports
Press release from: Fact.MR
Over the past few years, an upsurge in the awareness about fitness & health among the global population is being witnessed, driven by the desire for better and healthy lifestyle. This has further spurred the interest of individuals in various sports, and softball is no exception. Growing interest in softball among the general public has created significant demand for softball equipment. Individuals currently seek tailored softball products that meet their expectations and needs, which in turn has led manufacturers of softball equipment to offer customized equipment. In addition to its association with health benefits, softball is now being viewed as a medium of social engagement, and outlet for personal accomplishment. In addition, several softball tournaments have been introduced, which in turn have proliferated the participation in the sport. Innovations in softball equipment including gloves and bats are further boosting their sales. However, a notable rise in adoption of counterfeit products is expected to be a major threat for companies in the softball equipment market, as sports equipment are highly vulnerable to persisting economic conditions worldwide. Counterfeit softball equipment have adverse effects on brand names and revenues generated in the market.
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Fact.MR’s recently published report envisages an average expansion for the global softball equipment market over the period 2017 to 2026. Worldwide sales of softball equipment are forecast to exceed US$ 550 Mn in revenues by 2026-end.
North America to Remain Largest Market for Softball Equipment
High disposable incomes of the population in North American countries is expected to remain a major factor driving growth of the softball equipment market in the region. In addition, people in North America are increasingly becoming health-conscious and adopting measures to keep themselves fit as well as engaged in social activities, and softball is one of the popular means in catering to both these requirements. The female population in the region is also taking high interest in the sport. Driven by aforementioned factors, North America will continue to be the largest market for softball equipment.
Based on product type, softball bats are likely to lead the market in terms of revenues, with demand mainly driven by huge adoption of wooden softball bats by professional as well as amateur players. In addition, rising retail costs of softball bats are further complementing revenue generation through this product segment.
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Third party online channel are projected to remain the fastest expanding as well as dominant sales channel for softball equipment during 2017 to 2026. Based on buyer type, individual buyers will account for the largest revenue share of the market over the forecast period.
The global market for softball equipment will continue to be dominated by few leading vendors competing in terms of market reach and product offerings. Competition in the market is expected to intensify in the upcoming years, with growing product extensions and shares of the vendors. These vendors are introducing innovative equipment for enhancing their product portfolio and increasing their market share through products such as softball bats with enhanced swing speed, lightweight gloves, and tracking technologies. Key players driving growth of the softball equipment market globally include Nike, Newell Brands Inc., Mizuno Corporation, Under Armour Inc., Phoenix Bat Company, Adidas, Amer Sports, Zett Corporation, Schutt Sports Inc., and Peak Achievement Athletics.
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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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