Boxing Gloves Market is projected to reach a value of US$ 150 Mn by 2022-end
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Boxing gloves, or, cushioned gloves, are worn by fighters on their hands at the time of boxing practices and matches. Boxing gloves are designed in a way to protect a fighter’s hands during a bout. Although these gloves reduce the superficial facial injuries, users are enabled to lay stronger punches to head, thereby increasing risk of brain damage of the opponent.
Number of boxing tournaments worldwide has surged significantly over the past few years, leading towards an increased participation in this sport. This has further resulted into a rise in number of training clubs. Currently, boxing is gaining immense popularity as a sport, with the AIBA International Boxing Association seeking propulsion in events of women’s boxing in the Olympic program that is to be held at Tokyo in 2020. The market has also been witnessing registration of several new boxing tournaments. In 2016, International Championship Boxing League (ICBL) began its operations and became the first ever competitive boxing league in the world. In addition, the Boxing Federation of India has planned to launch the domestic boxing league in 2017, in a bid to increase the sport’s popularity and accelerate sales of boxing equipment such as boxing gloves.
A latest trend, gaining significant traction globally, is soaring popularity of women’s boxing. Women’s boxing has sought favor among tournaments, coupled with the acceptance among broadcasters. Nearly five weight categories associated to women’s boxing will be launched at the Tokyo 2020 Olympic Games. The aforementioned factors will influence demand for boxing gloves in the near future. Vendors in the market are focusing on expansion of their business in untapped and new regions around the world. Market players are concentrating on product innovation, such as lightweight gloves and headgear for women, with an aim to increase their market presence across the globe. The global market for boxing gloves is projected to exhibit a moderate expansion during 2017 to 2022, according to a report by Fact.MR. Revenues from the market are poised to reach nearly US$ 150 Mn by 2022-end.
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7 Key Estimations on Future of Global Boxing Gloves Market
1. Third party online channel will be the fastest expanding sales channel for boxing gloves in the market, followed by the direct to consumer brand outlet segment.
2. Despite modern trade channel will register a very low CAGR through 2022, its dominance in the market is estimated to remain unchallenged over the forecast period.
3. Asia-Pacific excluding Japan (APEJ) is poised to remain the most lucrative market for boxing gloves.
4. North America and Japan are estimated to exhibit the highest CAGRs in the market through 2022, with North America being more lucrative than Japan in terms of revenues.
5. Individual buyers are projected to account for the largest revenue share of the market. Revenues from boxing gloves sales for promotion purposes and in institutions will collectively reach approximately US$ 65 Mn by 2022-end.
6. Boxing gloves are expected to remain sought-after among glove types in the global market, accounting for over half revenue share of the market throughout the forecast period. Revenues from this segment are anticipated to reach US$ 90 Mn by 2022-end. However, demand for bag gloves will continue to be lower compared to that of boxing gloves in the global market.
7. Key market players profiled in Fact.MR’s report include Sports Direct International plc, Twins Special Co. Ltd., Title Boxing Llc, Fairtex, Adidas AG, Reebok International Ltd., and Everlast Worldwide, Inc.
Fact.MR’s report identified key players in the global boxing gloves market, which include Everlast Worldwide, Inc., Reebok International Ltd., Adidas AG, Title Boxing Llc, Fairtex, Twins Special Co. Ltd., and Sports Direct International plc.
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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Sports 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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