DUBLIN, Oct. 13, 2023 (GLOBE NEWSWIRE) — The “Sports Gloves – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offerings.
The global market for sports gloves is experiencing consistent growth and is estimated to reach a value of US$ 1.4 billion by 2022. Projections suggest that the market will further expand to reach US$ 2 billion by 2030, with a compound annual growth rate (CAGR) of 3.8% during the analysis period from 2022 to 2030.
Among the various segments, the boxing gloves segment is expected to record a robust CAGR of 4.4%, reaching a value of US$ 743.5 million by the end of the analysis period. Additionally, the baseball gloves segment is projected to grow at a CAGR of 3.4% over the next eight years.
The report provides a detailed analysis of the Sports Gloves market, including key players such as Amer Sports Corporation, Extra Innings, Inc., Drop Boxing & Athletic Wellness Inc., Bionic Gloves, 1Bion, Inc., Easton Diamond Sports, LLC, Aria Sport S.p.A., Diamond Sports, Concept Sport Co. Ltd., Amer Sports Italia S.p.A., CatSports, Adastria Co. Ltd., Aquilinas Importing Pty. Ltd., Cala del Forte, and Celgene Corporation, totaling 38 prominent competitors.
In terms of regional insights, the sports gloves market in the US is estimated to be valued at US$ 461.2 million in 2022. China, the second-largest economy in the world, is projected to reach a market size of US$ 230.1 million by 2030, with a CAGR of 6.3% from 2022 to 2030. Japan and Canada are also expected to witness growth during the analysis period, with growth rates of 2.3% and 3.5% respectively. Germany in Europe is estimated to grow at a CAGR of around 2.9%.
The global economic landscape is showing signs of improvement, with measures being taken by governments to address challenges such as the war in Ukraine, inflation, and weak retail demand. Furthermore, the implementation of new technologies, including AI, machine learning, and renewable energy, is expected to contribute significantly to global GDP growth.
However, the short-term economic outlook presents a mix of opportunities and challenges for consumers and investors. Businesses and leaders who can navigate this complex environment with adaptability and flexibility are likely to find opportunities amidst the uncertainty.
About the sports glove market:
Sports gloves are specialized gloves designed for various sports and athletic activities, offering athletes protection, grip, and support.
– Special discussion on the global economic environment and market sentiment.
– Coverage on global competition and the market share of key competitors.
– Market presence analysis across multiple geographies – strong/active/niche/insignificant.
– Online interactive peer-to-peer collaborative updates.
– Access to digital archives and trademark research platform.
– Complimentary updates for one year.
– Access to curated YouTube video transcripts featuring market sentiments shared by CEOs, domain experts, and market influencers.
1. What is the estimated value of the global sports gloves market by 2022?
The global market for sports gloves is estimated to be worth US$ 1.4 billion by 2022.
2. What is the projected compound annual growth rate (CAGR) for the sports gloves market?
The market is expected to experience a CAGR of 3.8% and reach a value of US$ 2 billion by 2030.
3. Which segment is expected to record the highest growth rate?
The boxing gloves segment is projected to grow at a CAGR of 4.4% and reach a value of US$ 743.5 million by the end of the analysis period.
4. Which regions are expected to witness growth in the sports gloves market?
The US market is estimated to be valued at US$ 461.2 million in 2022. China is projected to reach a market size of US$ 230.1 million by 2030. Japan and Canada are also expected to witness growth, along with Germany in Europe.
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