The global Boxing Equipment Market Growth Accelerated by Surging Demand from Boxing Gyms
Boxing Equipment Market |
Boxing equipment such as boxing
gloves, punching bags, hand wraps, boxing shoes, guard, headgear and protective
gear are essential accessories for boxers and athletes to practice and play the
sport of boxing. These equipments help boxers protect themselves from injuries
during training sessions and matches while improving their boxing skills.
Growing popularity of boxing as a competitive sport and fitness activity along
with increasing number of boxing gyms and training facilities worldwide have
been driving the demand for boxing equipment. The global Boxing Equipment
Market is estimated to be valued at US$ 1.92 Bn in 2023 and is expected to
exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in
a new report published by Coherent Market Insights.
Market key trends:
The surging number of boxing
training centers and gyms globally have accelerated the demand for boxing
equipment over the past few years. According to International Boxing
Association, the number of boxing gyms worldwide increased from over 70,000 in
2015 to nearly 90,000 in 2020. Growing popularity of boxing as a sport and
means of self-defense among young generation is attracting more people to join
boxing training in these gyms. Rising participants have boosted the consumption
of boxing accessories significantly. Furthermore, gym owners are focusing on
stocking high-quality protective gear and bags to offer best training facilities
and ensure safety of trainees, which is propelling the boxing equipment market.
Segment Analysis
The global boxing equipment
market is dominated by boxing gloves segment. Boxing gloves accounts for the
largest market share as they are an essential part of the sport. Protective
boxing gloves allow boxers to hit their opponent without causing serious harm.
Everlast, Century Martial Arts, and Combat Sports International are leading
providers of high-quality boxing gloves with innovative designs for improved protection
and performance.
Key Takeaways
The Global
Boxing Equipment Market Size is expected to witness high growth over
the forecast period of 2023 to 2030. Regional analysis shows that North America
dominates the global boxing equipment market currently. The United States
accounts for the largest share in the North American region owing to the
popularity of boxing as a sport. Countries like Mexico are also emerging as
lucrative boxing equipment markets in the region. Key players like Everlast,
Century Martial Arts, Twins Special, Adidas, Brucelee, Combat Sports
International, Fairtex, King Professional, Title Boxing, Ringside, Revgear,
Rival Boxing, Venum, Winning, Sanabul, Hayabusa, RDX, Elite Sports, Cleto
Reyes, Ring To Cage operate in the global boxing equipment market.
Key players operating in the boxing equipment market are
strategizing global expansion and introducing innovative products to cater to
evolving consumer demands. For instance, Everlast launched a new line of
lightweight professional quality boxing gloves that further elevate hand
protection and punching power. Hayabusa introduced specialized kickboxing
gloves suited for various fighting styles and training intensities. Boxing is
gaining traction among amateur boxers and recreational athletes globally. This
provides opportunities for key players to strengthen distribution channels and
leverage e-commerce to tap the growing consumer base.
The North American boxing
equipment market currently dominates due to high participation in amateur and
professional boxing. The US in particular has witnessed increased popularity of
boxing fitness programs and combat sports among women in recent years. This has
led to augmented demand for specialized women's boxing equipment with enhanced
features for safety and comfort. Latin American countries such as Mexico and
Brazil are also emerging as high potential markets, attributed to growing youth
interest in boxing as a competitive sport. Leading companies are expected to
invest in market development initiatives in promising regional markets to
capitalize on future opportunities.
Get More Insights Here
https://www.newsstatix.com/boxing-equipment-market-size-share-growth-outlook-2023/
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