Sports Hand Gloves Market Manufacturers Analysis and Competitive Strategies
21 June 2019, The global
sports hand gloves market is expected to display higher growth rate over the next five
years. The market is subject to witness a substantial growth due to the rising
enthusiasm towards sporting events, increasing focus towards fitness
activities, and growing penetration of retail e-commerce sector across the
globe. Additionally, rising disposable income and health consciousness among
young population in both developed and developing economies worldwide are
anticipated to drive the growth of the market over the forecast period.
Changing lifestyle
patterns and increasing participation in sports related activities by young
population are estimated to fuel market growth in upcoming years. Increasing
awareness about health benefits associated with sports and fitness activities
such as improved health and reduced the risk of chronic disorders are boosting
market demand of sports hand gloves. Additionally, sports and fitness
activities helps to limit depression, cardiovascular diseases and diabetes.
Such factors are leading to the soaring demand of sports-related equipment.
Furthermore, increasing
use of organic cotton owing to the growing environmental concerns is expected
to drive the growth of sports hand gloves market over the next seven years.
Growing adoption of water-based adhesives and recycled plastic materials rather
than conventional leather, synthetic rubber, polyurethane, nylon, and other
synthetic materials during various production activities are anticipated to
boost market demand in the upcoming years.
Recent product
innovation and development of non-toxic, green material such as thermoplastic
elastomer are gaining widespread popularity among end-users, thus fostering the
growth of the market over the forecast period. Latest trend associated use of
eco-friendly raw materials is major contributing factor for robust market
growth in the upcoming years. Increase in number of mergers, partnerships and
acquisitions among industry participants are predicted to positively affect
market performance across the globe.
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| Sports Hand Gloves Market |
In addition, lowering cost of the
sports hand gloves in Asia-Pacific market is expected to augment market demand
in near future. The recent development of innovative manufacturing technologies
that are increasingly adopted by leading industry players, has led to
production of high performing and comfortable sports hand gloves. Presence of
both offline and online distribution channels are projected to stimulate market
demand. Moreover, rapid growth of e-commerce industry, leading to higher market
penetration for sports hand gloves market is expected to play vital role in
exponential industry growth over the forecast period.
The market is broadly categorized into
five major segments based on the product type such as boxing gloves, baseball
gloves, soccer gloves, hockey gloves, and cricket gloves. The boxing gloves is
considered as one of the rapid growing segment in the market with substantial
revenue generation in the last few years. Growing popularity of the boxing
gloves segment is attributed to the rising sports activities in the North
America and Asia Pacific region.
The market is divided by region as
North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in the implementation
of latest technologies in sportswear sector, rising enthusiasm for various
sports events, increasing per capita income, growing penetration of e-commerce
websites, increase in the number of research & development activities in
the region and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to
hold major market share in the sports hand gloves market with massive growth in
forecast period. Countries such as India, China and Singapore are leading the
Asia-Pacific market with strong economic growth, rising per capita income,
rising preference towards sports, fitness, and adventure activities and
significant investment by leading industry players considering potential growth
opportunities in the region.
The key players in the sports hand
gloves market are Adidas Group AG, Everlast Worldwide, Inc., Grays
International Ltd., Mizuno Co., Nike, Inc., and Under Armour Inc.
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