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The boxing equipment market is estimated to grow at a CAGR of 4.07% between 2022 and 2027. The size of the market is forecast to increase by USD 260.17 million. The growth of the market depends on serval factors, including development programs to increase participation, boxing becoming a part of fitness programs, and the boost of the prominence of private-label brands.
This report extensively covers market segmentation by product (gloves, protective gear, and training equipment), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the global boxing equipment market as a part of the global leisure products market within the global household durables market. The parent global leisure products market covers a variety of categories, including sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-oriented games. Technavio calculates the global household durables market size based on combined revenues generated by manufacturers of household durables, including consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The innovative features and user interfaces are notably driving the market growth, although factors such as growing demand for (mention from aura data) the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Boxing Equipment Market Driver
Development programs to encourage participation are the key factor driving the global boxing equipment market growth. Grassroots programs are those that are conducted in schools, clubs, and local communities to instil the core values of sports, especially among the youth. The increasing number of grassroots programs, especially for young kids, is driving the growth of the market globally.
Such programs encourage the youth to join sports, thereby nurturing them to become regular or professional players. These programs offer a combination of educational opportunities and high-performance boxing training, where students can earn qualifications for their boxing development. Thus, with the increase in the number of such development programs, the demand for boxing equipment will increase during the forecast period.
Key Boxing Equipment Market Trend
The rise in the number of women participants in boxing will fuel the global boxing equipment market growth. Over the past few years, the participation of women in different sports has increased across the world. One of the biggest achievements on this front is the shrinking gender gap between the number of male and female players at the Olympic Games. The participation of women in various sports, such as boxing, has been particularly high over the last few years, with participation by an equal number of men and women. Earlier, boxing was primarily a male-dominated game. However, this has changed over time.
The Tokyo 2020 Olympic Games saw an increase in women's participation in boxing. A minimum of five different weight categories in women's boxing was launched at the Tokyo 2020 games. The Olympic Agenda 2020 empowers the International Olympic Committee (IOC) to collaborate with different International Federations to achieve at least 50% female participation at the Olympic Games. The growing adoption of boxing by women indicates a positive trend, which is expected to affect the market positively during the forecast period.
Key Boxing Equipment Market Challenge
The lack of the required infrastructure is a major challenge to the global boxing equipment market growth. Not all countries have the required infrastructure to support all types of sports, and most people pursue a sport that has the maximum popularity in their respective countries. Hence, the market for other sports in that country becomes limited in terms of revenue growth. As a result, certain sports that could have gained immense popularity in a particular country remain constrained and underdeveloped.
MEA and APAC countries can be cited as the most popular examples where a lack of the required infrastructure hampers the growth of boxing as a sport. Most countries in MEA and APAC generally have the resources to support only a few sports while lacking proper infrastructure for other sports. Therefore, the lack of professional clubs and training institutes for boxing, especially in developing countries, will affect the growth of boxing equipment in these regions during the forecast period.
Key Boxing Equipment Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Boxing Equipment Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
vinex.com - The company, Bhalla International, offers Boxing equipment such as Boxing Head Guards, Boxing Gloves, Punching Bags, Coacher Pads, Speed Balls, Junior Boxing Kits, Boxing Rings and other accessories.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the gloves segment will be significant during the forecast period. Gloves are the most important equipment in boxing as these constitute the basic requirement for both training purposes and professional matches. Boxing gloves protect the hands of the wearer and reduce the impact of punches and strikes on the opponent. Unlike the traditional cestus, which was used extensively during warfare to harm opponents, modern boxing gloves are designed to protect the fighter's hands during boxing bouts and competitions. Sparring and other forms of boxing training require different kinds of boxing gloves. These gloves are designed to reduce superficial facial injuries.
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With the increasing popularity of boxing, particularly fitness boxing, many health and fitness clubs have started including boxing workout classes as a part of their fitness programs. Also, the relatively high replacement rate of boxing gloves in comparison with the other products in boxing equipment will have a positive impact on the growth of the gloves segment during the forecast period.
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North America is projected to contribute 39% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in North America is growing moderately. Owing to the growing prevalence of obesity in the region, most people are becoming aware of the benefits of leading a healthy lifestyle. It has encouraged people to adopt different sporting activities, which help them remain fit and healthy. Boxing is highly popular in the US and Canada, while fitness boxing is very popular in the US. The increasing participation rates in these boxing activities are driving the revenue of the market in this region.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by type, product, distribution channel, and region.
Boxing Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.07% |
Market growth 2023-2027 |
$ 260.17 million |
Market structure |
Fragmented |
YoY growth (%) |
3.6 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 39% |
Key countries |
US, Canada, China, Japan, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
adidas AG, Bhalla International, Carry Sports total, Century LLC, Combat Brands LLC, FAIRTEX EQUIPMENT CO. LTD., Frasers Group plc, Hayabusa Fightwear Inc., Hind Sports, Khalsa Gymnastic Works, King Pro Boxing, Kozuji, Maizo Worldwide, PRO BOXING EQUIPMENT, Revgear Sports Co., Ring To Cage Fight Gear, Sanabul, Shijiazhuang Goods Co. Ltd., Twins Special Co. Ltd, and Venum |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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