Boxing gloves hanging
The Boxing Gloves Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Boxing Gloves Global Market Report 2024, The boxing gloves market size has grown strongly in recent years. It will grow from $1.32 billion in 2023 to $1.42 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to rise of professional boxing and combat sports, evolution of boxing regulations and safety standards, growth of boxing as a fitness activity, expansion of international sporting events, influence of popular boxing personalities.
The boxing gloves market size is expected to see strong growth in the next few years. It will grow to $1.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to increase in sports participation and fitness consciousness, growing popularity of mixed martial arts (mma), expansion of online and e-commerce channels, adoption of personalized and customizable gloves, emphasis on safety features and injury prevention. Major trends in the forecast period include technological advancements in glove materials, integration of smart technologies in boxing gloves, focus on sustainable and eco-friendly glove materials, innovation in glove design for enhanced performance, integration of augmented reality (ar) in marketing.
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 covered in this report is segmented –
1) By Glove Type: Sparring Gloves, Bag Gloves, Competition Gloves
2) By Material Type: PU Leather, Genuine Leather, Microfiber Leather
3) 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
Product innovations are a key trend gaining popularity in the boxing gloves market. Major companies operating in the boxing gloves market are focused on introducing innovative products and solutions to sustain their position in the market. For instance, in April 2023, Hayabusa Fightwear Inc., a Canada-based sporting goods provider, launched Hayabusa T3D, the world’s first 3D-printed boxing gloves with thousands of force-dampening struts. The new T3D gloves use a mesh network of geometric cells designed to channel and absorb energy upon impact while keeping your hands comfy. This 3D lattice has thousands of force-dampening struts that have been shown to outperform and outlast conventional foam construction.
The boxing gloves market report table of contents includes:
1. Executive Summary
2. Boxing Gloves Market Characteristics
3. Boxing Gloves Market Trends And Strategies
4. Boxing Gloves Market – Macro Economic Scenario
5. Global Boxing Gloves Market Size and Growth
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26. South America Boxing Gloves Market
27. Brazil Boxing Gloves Market
28. Middle East Boxing Gloves Market
29. Africa Boxing Gloves Market
30. Boxing Gloves Market Competitive Landscape And Company Profiles
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