DUBLIN, July 15, 2022 /PRNewswire/ — The “Sports Gloves – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.
Global sports gloves market to reach $1.6 billion by 2026
Amid COVID-19 crisis, Global Sports Gloves Market Estimated at US$1.3 billion in 2020, is expected to reach a revised size of US$1.6 billion by 2026, growing at a CAGR of 3.5% over the analysis period. Boxing Gloves, one of the segments analyzed in the report, is expected to register a CAGR of 4.1% and reach US$641.9 million at the end of the analysis period.
The US market is estimated at $443.4 million in 2021, when China is expected to reach $178.6 million by 2026
The sports gloves market in the United States is estimated at US$443.4 million in the year 2021. Chinathe second largest economy in the world, is expected to reach a projected market size of US$178.6 million by 2026 at a CAGR of 6% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 2.1% and 3.2% respectively over the analysis period. In Europe, Germany is expected to grow at a CAGR of approximately 2.7%.
The expected increase in gym registrations will also benefit the demand for gym gloves, also known as fitness and workout gloves. With growing concerns about shared gym accessories like gloves and the risk of infections, consumers will buy their own gym equipment and accessories. Gloves are often used during weightlifting and when using other rope-based equipment to prevent hand injuries, cuts, and bruises.
Select competitors (38 total featured) –
- Adidas America Inc
- All-Star Sporting Goods
- AML Group Ltd.
- Everlast Worldwide Inc.
- Gloves and Gloves
- Cambridge Gray
- Hirzl S.A.
- outdoor kathmandu
- Mizuno Corporation
- Nike Inc.
- SELECT SPORT A/S
- TH-SPORT (HK) Ltd
- Under Armor Inc.
- Wilson Sporting Goods
Main topics covered:
1. MARKET OVERVIEW
- Overview of the influencer market
- Global Market Trajectories
- Gloves: important protective equipment for athletes and recreational sports enthusiasts
- Cancellations of live events, reduction in tourism-related sports spending, lower fan spending on professional sports, falling sports television losses US$69.9 billion in sports revenues: sports revenues worldwide (in billions of US dollars) for the years 2019 and 2020
- The most affected by the pandemic, the sports industry in the United States takes the lead: the loss of revenue from sports in United States (In billions of US dollars) for the year 2020 by segment
- Cancellation of live sporting events hurts market outlook
- Closure of gyms impacts demand for fitness/gym gloves
- The sharp drop in the number of tourists has an impact on tourism-related retail trade
2. FOCUS ON CERTAIN PLAYERS
3. MARKET TRENDS AND DRIVERS
- Pandemic-induced rise in ‘home fitness’ sees partially offset rise in online sales of fitness gloves
- COVID-19 Catalyzes Retail Digitalization and Puts Online Glove Sales in the Spotlight: % Internet Users Who Migrated to Online E-Commerce Platforms During the COVID-19 Pandemic
- Redoubled focus on immunity and health in the time of COVID-19 to increase sports participation in the post-COVID-19 era
- Continued increase in wildlife trade and increased frequency of future pandemics trigger long-term focus on health, fitness and boosting immunity
- Surge in gym signups post COVID-19 will bring back opportunities currently on hiatus
- Increase in gym memberships during the post-COVID-19 period to benefit sales of sports gloves: number of health and fitness club memberships (in thousands) for the years 2021 and 2033
- Athletic gloves will experience a resurgence in popularity in the post-COVID-19 era
- Manufacturers focus on design and fabric innovations to combat impact of COVID-19
- Increased adoption of cycling as a healthy hobby to increase cycling glove sales in the post-COVID-19 era
- The Covid-19 pandemic is causing a boom in recreational cycling and will lead to the rise in demand for cycling gloves
- More cyclists means more bike glove sales: Bicycle trips per capita per year (in km) by country for the year 2021
- Sports tourism will become a big opportunity after COVID-19
- Major sports tourism destinations will be the main markets for sales of sports gloves
- Expansion of sports tourism in the post-COVD-19 period to boost sales of sports tourism goods and services, including gloves: global sports tourism market (USD trillion) for the years 2021, 2023 and 2025
4. GLOBAL MARKET OUTLOOK
III. MARKET ANALYSIS
For more information on this report, visit https://www.researchandmarkets.com/r/yb4e8m
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SOURCE Research and Markets