Global Sports Gloves Market to Reach $1.6 Billion by 2026

News provided by

Mar 16, 2022, 11:05 ET

SAN FRANCISCO , March 16, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Sports Gloves - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Global Sports Gloves Market to Reach $1.6 Billion by 2026

FACTS AT A GLANCE
Edition: 15; Released: February 2022
Executive Pool: 3289
Companies: 38 - Players covered include Adidas America Inc; All-Star Sporting Goods; AML Group Ltd; Everlast Worldwide Inc; Gloves n Gloves; Grays of Cambridge; Hirzl AG; Kathmandu Outdoor; Mizuno Corporation; Nike Inc; Rawlings; SELECT SPORT A/S; TH-SPORT (H.K.) Ltd; Under Armour Inc; Wilson Sporting Goods and Others.
Coverage: All major geographies and key segments
Segments: Product (Boxing Gloves, Baseball Gloves, Hockey Gloves, Cricket Gloves, and Other Products); Distribution Channel (Offline, Online)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; Rest of Asia-Pacific; Latin America; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry

ABSTRACT-

Global Sports Gloves Market to Reach $1.6 Billion by 2026
Gloves are defined as protective wear for the hands covering the wrist, palms and fingers. Sports gloves are worn by athletes by playing for protection against injuries and for better game performance. Types of sports which require gloves include boxing, cricket, hockey, goal keeping in football/soccer, baseball, cycling, motor racing, skating, skiing, handball, rowing, golf, and weightlifting, among others. In addition to gloves, protective sportswear also includes head gear, gum shields, shin pads, shoulder pads, and joint supports. Key functionality and benefits offered by gloves include protection against nerve and musculoskeletal damage, injuries disorders and pain; firmer grip and anti-slippage, protection against cold in case of winter sports and heat and UV protection in case of summer sports; preventing and combating hand fatigue; and helping in enhancing and optimizing athlete performance. Popular fabrics used for manufacturing gloves include cotton, Polyester, Acrylic, PVC, leather, fleece, knitted wool, Cow hide, Deer skin, Pig's leather, Goat's leather, grain leather, split leather, Polyurethane (PU) laminated onto a polyester or polyamide, Polyurethane (PU) fibre mixed with polyester or polyamide.

Amid the COVID-19 crisis, the global market for Sports Gloves estimated at US$1.4 Billion in the year 2022, is projected to reach a revised size of US$1.6 Billion by 2026, growing at a CAGR of 3.5% over the analysis period. Boxing Gloves, one of the segments analyzed in the report, is projected to record a 4.1% CAGR and reach US$641.9 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Baseball Gloves segment is readjusted to a revised 3.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $461.2 Million in 2022, While China is Forecast to Reach $178.6 Million by 2026
The Sports Gloves market in the U.S. is estimated at US$461.2 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$178.6 Million by the year 2026 trailing a CAGR of 6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.1% and 3.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR.

Given the importance of exercise and outdoor activity in boosting immunity, participation in sports as part of fitness regimes will grow. In the post COVID-19 period, focus on health and fitness will be the new normal fully ingrained into the lifestyle of people of all ages age groups. The pandemic has highlighted the importance of routine exercise and weight management in building strong immunity against new and unknown viruses. Types of sports which will witness increase in participations rates will include Tennis, Rowing, Cycling, Biking, Mountain Climbing, Hiking, Squash, Cross-Country Skiing, skating, baseball etc., all of which require the use of gloves as the most common and must have protective wear for safe indulgence in these sports and games.

The expected increase in gym enrollments will also benefit demand for gym gloves also known as fitness and workout gloves. With growing concerns over shared gym accessories like gloves and risk of infections, consumers will purchase their own gym gear and accessories. Gloves are often used during weightlifting and when operating other rope based equipment to prevent injuries, cuts and bruises to hands. Gym gloves play a vital role in protecting hands and providing firmer and improved grip on gym equipment. Gloves also provide wrist support and prevent ligament related injuries. In times of COVID-19, it also protects against the risk of using shared equipment. Gloves also help decrease hand pain and increase workout intensity and results in better workout performance and outcome. Gloves also prevent workout calluses which although not dangerous can result in painful crack and open wounds which can impede further training or progress. Weight lifting gloves especially protects fingers from undue stress and helps the athlete increase tolerance to weight load gradually. Gloves will also eliminate the need for the use of gym chalk powder which typically used to increase grip and reduce sweating. Especially in times of COVID-19, chalk related allergies such as cough and sneezing can be effectively prevented. Gloves also increase stability and reduce the risk of dropping weights such as barbell or dumbbell onto the foot, chest, lap or head.

Hockey Gloves Segment to Reach $277.9 Million by 2026
In the global Hockey Gloves segment, USA, Canada, Japan, China and Europe will drive the 3.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$183.4 Million will reach a projected size of US$228.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$38.2 Million by the year 2026, while Latin America will expand at a 5.3% CAGR through the analysis period.

Major Sports Tourism Destinations Will be Top Markets for Sports Glove Sales
The attractiveness of sports tourism destinations depends on the history of the event and the global reach. Large global tournaments such as the Olympics and World Cups for various games attract huge footfalls during the event and have proven to build interest in the host nation and city even long after the event. For instance, the 'Bird's Nest' stadium built for the summer Olympics in Beijing, China continues to attract visitors even after a decade. Apart from the large global tournaments, annual sporting events with a pedigree such as Tennis, Formula-1 and Golf tournaments attract large number of visitors during and after the event. Wimbledon, the US Open, French Open, and the Australian US Open, the Grand Slam events in Tennis are major attractions for sports tourists. Formula-1, with its annual races around the world also continues to be a major draw for sports tourists. These events are generally attended by wealthy enthusiasts. However, even in the off-season, the empty stadia attract thousands of paid visitors. In addition to the large global tournaments, there exist attractive regional sports tourism destinations that attract large number of tourists. For instance, football leagues in European countries are a major attraction for fans in these countries, and witness high attendance, especially for matches involving top notch clubs. Top clubs such as Manchester United, Liverpool, Juventus, FC Barcelona to name a few, attract millions of visitors for witnessing matches as well as to visit empty stadia. In the US, Major League Baseball, Basketball, and NASCAR are major sports attractions for fans. Basketball Hall of Fame, situated at Springfield, Massachusetts attracts thousands of visitors every year. Apart from the major leagues, smaller tournaments such as Little League World Series (LLWS) for under-13 baseball attract large number of visitors. Some of the sports goods manufacturers have also evolved as major sports tourism attractions. For instance, Louisville Slugger baseball bat manufacturer, Hillerich & Bradsby Company, attracts thousands of paid visitors, on par with some smaller tournaments each year. Apart from the stadia and other facilities, leisure destinations such as the Swiss Alps and beaches in major tourist destinations such as Bali can be grouped as sports destinations. Amateur/leisure sports enthusiasts visit these destinations to participate in the activities at the respective destinations.

Sports tourists can be broadly categorized as event-based, participatory, and celebratory tourists. Event based sports tourists are generally fans who travel to various destinations to watch matches and/or tournaments. These events could be small regional events or large global events. Participatory tourists are sports enthusiasts who travel to various destinations to participate in various professional tournaments or as leisure/amateur sport enthusiasts. All participating players can be grouped under this head. On the other hand, millions of amateur enthusiasts travel to destinations for participating in sporting activities such as skiing, marathons, sailing and surfing among others. Celebratory sport tourists are rather opposite to even based sports tourists. While event based tourists visit to witness games, celebratory tourists visit the stadia and other destinations such as sports museums and even sports goods manufacturing facilities. Spending on sports tourism depends on the host city and associated costs with the event. Large and famous tournaments attract large crowds and generally expensive for tourists. Smaller and regional tournaments attract smaller crowds and typically attract lower spending. The attraction of a tournament depends on the pedigree of the tournament and/or participation of star players in the tournament. For instance, Grand Slam Tennis and Formula-1 attract large spenders as viewership tickets for such events are expensive and out of reach for most sports fans. In participatory sports tourism such as ski resorts, spending depends on the season. Peak season spending is substantially higher than non-peak spending owing to lower costs of accommodation and other leisure activities during non-peak season. The scenario is poised to spur opportunities across the entire value chain for sports tourism goods and services including gloves. As sports tourists travel to exotic destinations to play their favorite sports, sales of sporting equipment/goods and apparel will witness a parallel increase in sales. Gloves being an indispensable part of protective wear for sportsmen will also witness a surge in sales. More

MarketGlass™ Platform
Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.

Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android

About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

LINKS
Join Our Expert Panel
https://www.strategyr.com/Panelist.asp

Connect With Us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./

Follow Us on Twitter
https://twitter.com/marketbytes

Journalists & Media
[email protected]

SOURCE Global Industry Analysts, Inc.