Boxing Equipment Market size to grow by USD 260.17 million from 2022 to 2027, Development programs to encourage participation boosts the market, Technavio

NEW YORK, March 15, 2024 /PRNewswire/ -- The boxing equipment market report has been added to Technavio's offering. The boxing equipment market is estimated to grow by USD 260.17 million during 2022-2027, growing at a CAGR of 4.07%. The surge in global market growth is propelled by the pivotal role of development initiatives in fostering participation. Grassroots programs, operating within educational institutions, clubs, and local communities, serve as catalysts for instilling core sports values, particularly among the youth demographic. The proliferation of such initiatives, notably targeting young demographics, is a primary driver of market expansion. These programs not only incentivize youth engagement in sports but also facilitate their progression towards professional proficiency. By amalgamating educational opportunities with high-performance training, these initiatives equip participants with requisite qualifications for holistic development. As their prevalence continues to rise, market demand is poised for sustained growth in the foreseeable future.

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• The lack of the required infrastructure hinders market growth during the forecast period.
• The increasing number of women participants in boxing is a primary trend in the market.

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Key Companies

The boxing equipment market report includes information on the product launches, sustainability, and prospects of leading vendors, including 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 Segmentation

The Boxing Equipment  Market is analyzed in terms of products by gloves, protective gear, and training equipment, distribution channels by offline and online, and geography by North America, Europe, APAC, South America, and the Middle East and Africa.

• The market share growth by the gloves segment will be significant during the forecast period. One of the most important pieces of equipment in boxing is the gloves as these comprise the basic requirement for both training purposes and professional matches. Boxing gloves mainly protect the hands of the participant and minimize the effect of punches and strikes on the opponent. Modern boxing gloves are specifically designed to protect the player's hands during the competition. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
• North America is estimated to account for 39% of the global market growth. There is a growing awareness of the benefits of a healthy lifestyle due to the increasing prevalence of obesity in North America. As a result, there is a growing popularity and increasing adoption of several sporting activities, which helps them to maintain their fitness and health. Hence, such factors are expected to drive market growth in the region during the forecast period. 

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Analyst Review

The boxing world has witnessed a remarkable evolution, not only in the ring but also in the equipment that shapes the sport. From grassroots movements to international championships, the demand for innovative products has surged, catering to the needs of professional athletes, fitness enthusiasts, and health-conscious consumers alike.

One significant development is the rise of Advanced Apprenticeships in Sporting Excellence (AASE), fostering talent at state and national levels. This initiative has fueled the increasing participation of women in boxing, leading to a surge in female boxing leagues and competitions sanctioned by bodies like the International Olympic Committee and AIBA.

In this dynamic landscape, product innovation has been key. Smart-tech integrated gloves, wearables, and augmented reality-based training equipment have revolutionized traditional gear. These advancements not only enhance performance but also mitigate risks associated with hand and wrist injuries, a concern prevalent in the sport due to the punching power exerted during training and professional bouts.

Protective equipment like hand wraps, headgear, and impact-absorbent fabrics play a pivotal role in safeguarding athletes, particularly in Olympic-style amateur boxing. The emphasis on safety extends to the grassroots level, with initiatives promoting protective gear for children participating in boxing classes at schools and educational institutions.

The market has also seen a surge in boxing equipment rental platforms, catering to the growing demand from recreational and amateur boxers. E-commerce has further democratized access to gear, allowing enthusiasts from developing nations to procure quality equipment with their disposable income.

Wearable technology has permeated the market, with smart gloves and trackers gaining traction among fitness enthusiasts. These wearables, integrated with IoT technology, provide real-time performance metrics and feedback, enhancing the training experience in gyms and fitness centers.

Moreover, the advent of virtual reality technology has transformed boxing training, with VR headsets and haptic feedback creating immersive simulations in VR gaming studios. This experiential ownership appeals to a wide audience, bolstering R&D investments in impact-absorbent, multi-layered, and breathable fabrics for boxing equipment.

In essence, the boxing equipment market continues to evolve, driven by a convergence of technological innovation, regulatory scenarios, and shifting consumer preferences. As the sport embraces inclusivity and safety, the demand for cutting-edge gear is poised to soar, ushering in a new era of athleticism and performance in the ring.

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Market Overview

The Boxing Equipment Market is experiencing dynamic growth, driven by the increasing participation of professional athletes and the rising number of women participants in tournaments worldwide. Innovative products cater to the evolving needs of boxers, reflecting advancements in the sport. Grassroots movements, supported by initiatives like Advanced Apprenticeships in Sporting Excellence (AASE), foster talent development at state and national levels. The International Olympic Committee's recognition of Olympic-style amateur boxing further amplifies the market's significance. With tournaments like the Boxing World Championships showcasing talent, the market thrives on providing state-of-the-art gear for enthusiasts at all levels, ensuring the sport's accessibility and advancement.

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1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
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UK: +44 203 893 3200
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Website: www.technavio.com

SOURCE Technavio

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