Portland, OR, Nov. 16, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global boxing gloves market generated $902.8 million in 2021, and is estimated to reach $1.4billion by 2031, witnessing a CAGR of 4.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $902.8 Million |
| Market Size in 2031 | $1.4 Billion |
| CAGR | 4.6% |
| No. of Pages in Report | 300 |
| Segments Covered | Size, Type, Buyer, Material, and Region |
| Drivers | Rise in participation of women and kids in boxing as a recreational and fitness activity. |
| Various government initiatives and financial assistance to boost women participation in boxing. | |
| Several health benefits associated with playing or participating in boxing such as reduced stress, low blood pressure, weight loss, and improved heart health. | |
| Opportunities | Latest innovative product launches and advancements in the technology. |
| Restraints | Low accessibility to training and lack of awareness regarding the sport. |
Covid-19 Scenario:
· The outbreak of the COVID-19 had a negative impact on the boxing gloves market. There were decrease in sales and reduced demand of boxing gloves products due to the closure of fitness centersand boxing gyms along with the cancellations of all boxing events during the pandemic.
· However, the sales eventually increased whenthe government started the vaccination drive and lifted the restrictions, which helped the market to recover.
The report offers a detailed segmentation of the global boxing gloves market based onsize, type, buyer, material, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based onsize, the12 to 18 oz segment was the largest in 2021, accounting for more than three-fifths of the global boxing gloves market share, and would rule the roost through 2031. However, the 4 to 10 oz segment is estimated to witness the fastest CAGR of 5.0% during the forecast period.
Based on type, the training gloves segment was the largest in 2021, capturing more than half of the global boxing gloves market, and would lead the trail through 2031. However, the others segment is estimated to witness the fastest CAGR of 5.8% during the forecast period.
Based on buyer, the institutionalsegment captured the largest market share of more than three-fifths of the global boxing gloves market in 2021, and is expected to lead the trail during the forecast period. The individual segment, however, is likely to achieve the fastest CAGR of 4.9% through 2031.
In terms of material, the PU leather segment captured the largest market share of more than three-fifths of the global boxing gloves market in 2021 and is likely to maintain a noteworthy growth during the forecast period. However, the others segment is likely to achieve the fastest CAGR of 7.4% through 2031.
Based on region, the market in North America was the largest in 2021, accounting for nearly two-fifths of the global boxing gloves market share, and is likely to maintain its leadership status during the forecast period. Moreover, the market in the Asia-Pacific region is expected to manifest the highest CAGR of 5.7% from 2022 to 2031. The other regions analyzed in the study include Europe and LAMEA.
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Leading players of the global boxing gloves market analyzed in the research includeBytomic Martial Arts, Century Martial Arts, Combat Sports, Inc., Everlast Worldwide, Inc., FairtexEquipment Co. Ltd, HayabusaFightwear, Inc., Prolast Corporation, Revgear, RDX Sports, Sanabul,Title Boxing, LLC., Twins Special, Yokkao, Rival Boxing, Reebok International Ltd., Adidas AG, and SportsDirect International Plc.
The report analyzes these key players of the global boxing gloves market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
