Boxing Gloves Segment Sets Record Growth with 4.4% CAGR, While Environmental Trends Boost the Global Sports Gloves Market to 2030

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Dublin, Oct. 13, 2023 (GLOBE NEWSWIRE) -- The "Sports Gloves - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Sports Gloves is witnessing steady growth, with an estimated value of US$1.4 billion in 2022. Projections indicate that this market will reach a size of US$2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.8% over the analysis period from 2022 to 2030.

The Boxing Gloves segment is set to record a CAGR of 4.4% and is expected to reach US$743.5 million by the end of the analysis period, while the Baseball Gloves segment is estimated to grow at a CAGR of 3.4% over the next eight years.

Key Players

The report features a comprehensive analysis of the Sports Gloves market, including prominent players such as Amer Sports Corporation, Extra Innings, Inc., Drop Boxing & Athletic Wellness Inc., Bionic Gloves, 1byone, Inc., Easton Diamond Sports, LLC, Errea` Sport S.P.A., DIAMOND SPORTS, Concept Sport Company Limited, Amer Sports Italia S.p.A., Catsports, Adastria Company Limited, Aquilinas Importing Pty Limited, Cala Del Forte, and Celgene Corporation, with a total of 38 featured competitors.

Regional Insights

• The Sports Gloves market in the U.S. is estimated at US$461.2 million in 2022.

• China, the world's second-largest economy, is forecasted to reach a projected market size of US$230.1 million by 2030, with a CAGR of 6.3% from 2022 to 2030.

• Japan and Canada are expected to grow at 2.3% and 3.5%, respectively, over the 2022-2030 period.

• Germany in Europe is forecasted to grow at approximately 2.9% CAGR.

Economic Outlook

The global economic outlook is showing signs of improvement, with a gradual recovery anticipated for the current year and beyond. Despite some challenges, such as uncertainty related to the war in Ukraine, slower-than-expected declines in global headline inflation, ongoing food and fuel inflation in many developing countries, and persistently high retail inflation affecting consumer confidence and spending, governments are taking measures to address these issues.

New technologies, including AI, machine learning, Web3, cloud and edge computing, quantum technologies, electrification, renewables, and climate technologies, are expected to drive incremental growth and value to global GDP. While corporate investments may be affected by concerns about inflation and weaker demand, the rise of these new technologies is likely to partially reverse the prevailing investment sentiment.

In the short term, the economic landscape presents a mix of challenges and opportunities for both consumers and investors. Businesses and leaders who can navigate this complex environment with resilience and adaptability are poised to find opportunities amid the uncertainty.

About the Sports Gloves Market

Sports gloves are specialized gloves designed for various sports and athletic activities, providing protection, grip, and support to athletes.

What`s New?

• Special discussions on the global economic climate and market sentiment

• Coverage on global competitiveness and key competitor percentage market shares

• Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial

• Online interactive peer-to-peer collaborative bespoke updates

• Access to digital archives and trademarked research platform

• Complimentary updates for one year

• Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights

• World Market Trajectories

• Sports Gloves - Global Key Competitors Percentage Market Share in 2023 (E)

• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)

• Gloves: An Important Protective Gear for Athletes & Hobbyist Sportsmen

• COVID-19 Disrupts Business-as-Usual Market Opportunities

• Live Event Cancellations, Cutbacks on Tourism Related Sports Spend, Declines in Fan Spending on Pro Sports, Plummeting Sports TV Losses Shave Off US$69.9 Billion in Sports Revenues: Global Sports Revenues (In US$ Billion) for the Years 2019 & 2020

• The Worst Affected by the Pandemic, the U.S. Sports Industry Takes it on the Chin: Sports Revenue Loss in the United States (In US$ Billion) for the Year 2020 by Segment

• Cancellation of Live Sporting Events Hurts Market Prospects

• Closure of Gyms Impacts Demand for Fitness/Gym Gloves

• COVID-19 Outbreak Freezes the Tourism Industry. Vacation Sports Comes to an Abrupt Halt Adding to Market Woes

• Sharp Decline in the Number of Tourists Impacts Tourism Related Retail Trade: Global Number of International Tourist Arrivals at Airports Worldwide (In Million) for the Years 2019 & 2020

• Recent Market Activity

• World Brands

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Pandemic Induced Rise of "At Home Fitness" Sees a Partially Offsetting Rise in Online Sales of Fitness Gloves

• COVID-19 Catalyzes Retail Digitalization & Brings Online Sales of Gloves Into the Spotlight: % of Internet Users Who Have Migrated to Online e-Commerce Platforms During the COVID-19 Pandemic

• Redoubled Focus on Immunity & Health in COVID-19 Times to Increase Participation in Sports in the Post COVID-19 Period

• Continued Rise in Wildlife Trade & Increased Frequency of Future Pandemics Trigger Long-Term Focus on Health, Fitness & Immunity Building: Number of Wild Animal Species Traded Annually Worldwide

• Increase in Gym Enrollments Post COVID-19 Will Bring Back Opportunities Currently in Hiatus

• Increase in Gym Memberships in Post COVID-19 Period to Benefit Sales of Gym Gloves: Number of Enrollments in Health & Fitness Clubs (In 000s) for the Years 2021 & 2033

• Athleisure Gloves to Witness a Comeback in Popularity in the Post COVID-19 Period

• Manufacturers Focus on Design & Fabric Innovations to Combat the Impact of COVID-19

• Increased Adoption of Cycling as a Healthy Hobby to Push Up Sales of Cycling Gloves in the Post COVID-19 Period

• Covid-19 Pandemic Leads to Recreational Cycling Boom & Will Lead the Spike in Demand for Cycling Gloves

• More Cyclists Means More Sales of Cycling Gloves: Bicycle Travel Per Inhabitant Per Year (In Km) by Country for the Year 2021

• Sports Tourism to Emerge Into a Big Opportunity Post COVID-19

• Major Sports Tourism Destinations Will be Top Markets for Sports Glove Sales

• Expansion of Sports Tourism in the Post COVD-19 Period to Spur Sales of Sports Tourism Goods & Services Including Gloves: Global Market for Sports Tourism (In US$ Trillion) for the Years 2021, 2023 & 2025

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/3brbwb

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