Fact.MR’s report identified key players in the global boxing gloves market, which include Everlast Worldwide, Inc., Reebok International Ltd., Adidas AG, Title Boxing Llc, Fairtex, Twins Special Co. Ltd., and Sports Direct International plc.
Boxing gloves, or, cushioned gloves, are worn by fighters on their hands at the time of boxing practices and matches. Boxing gloves are designed in a way to protect a fighter’s hands during a bout. Although these gloves reduce the superficial facial injuries, users are enabled to lay stronger punches to head, thereby increasing risk of brain damage of the opponent.
A latest trend, gaining significant traction globally, is soaring popularity of women’s boxing. Women’s boxing has sought favor among tournaments, coupled with the acceptance among broadcasters. Nearly five weight categories associated to women’s boxing will be launched at the Tokyo 2020 Olympic Games.
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APEJ to Remain Largest Market for Boxing Gloves
Asia-Pacific excluding Japan (APEJ) is estimated to remain the largest market for boxing gloves. In 2017, the market in Europe will account for over one-fourth revenue share of the market, and is poised to lose 22 BPS in its market share between 2017 and 2022. Japan and North America will continue to be the fastest expanding markets for boxing gloves, with North America accounting for a relative higher market share than Japan, in terms of revenues.
Boxing gloves will remain preferred among glove types in the market, with revenues estimated to account for more than half share of the market over the forecast period. Revenues from sales of boxing gloves will reach approximately US$ 90 Mn by 2022-end. Demand for bag gloves, on the other hand, will remain comparatively lower than demand for boxing gloves in the market.
Third party online channel is anticipated to emerge as the fastest expanding sales channel for boxing gloves, followed by direct to customer brand outlet. Although modern trade channels are projected to register a low CAGR in the market, this sales channel segment will remain dominant in the global boxing gloves market throughout the forecast period. Franchise sports outlet are expected to be the second most lucrative sales channel for boxing gloves during 2017 to 2022.
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