The Business Research Company’s Boxing Gloves Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Boxing Gloves Global Market Report 2023 evaluates boxing gloves market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global boxing gloves market is expected to grow from $1.23 billion in 2022 to $1.32 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The boxing gloves market is expected to reach $1.69 billion in 2027 at a CAGR of 6.3%.
The growing popularity of combat sports is expected to propel the growth of the boxing gloves market going forward. Combat sports refer to those in which competitors intentionally make complete contact with an opponent to score points, force an opponent to submit, or render an opponent helpless during a competition, match, or exhibition. Boxing gloves are used in combat sports, traditionally in boxing and kickboxing, to protect the boxer’s hand from harm. The demand for boxing gloves has been dramatically enhanced by the popularity of various combat sports, resulting in market expansion. For instance, in December 2022, according to England Boxing, a UK-based national governing body of sport for boxing, during the academic year 2021-2022, around 227,600 youngsters in grades 7–11 participated in boxing at least once a week. Compared to the academic year 2020–21, this number is up 0.2%. Further, after the 2021–22 season, there were 995 club members and 25,315 individual members, respectively. With over six months of the 2022–23 season remaining, it seems likely that these statistics will be surpassed this year, as there are currently 988 club members and 21,139 individual members. Therefore, the growing popularity of combat sports drives the growth of the boxing gloves market.
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The boxing gloves market segments in the report are:
1) By Glove Type: Sparring Gloves, Bag Gloves, Competition Gloves
2) By Material Type: PU Leather, Genuine Leather, Microfiber Leather
3) By Distribution Channel: Supermarkets And Hypermarkets, Specialty Stores, Online Retails, Other Distribution Channels
4) By Application: Amateur Boxing, Professional Boxing
5) By End User: Kids, Adults
The table of contents in TBRC’s boxing gloves market report includes:
5.1. Global Boxing Gloves Historic Market Size and Growth, 2017 – 2022, Value ($ Billion
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