Pune, 15, Dec 2022: According to Maximize Market Research, the Boxing Gloves Market worth USD 1.8 billion by 2029, growing at a 5.5% CAGR. The market is growing thanks to the increased participation in sports by a new generation.
Boxing Gloves Market Scope and Research Methodology
The research report makes extensive use of both primary and secondary data sources. Government policy, the market environment, the competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, and the technical progress in related industries are all investigated during the research process, as are market risks, opportunities, market barriers, and challenges. To provide final quantitative and qualitative data, all conceivable factors influencing the markets included in this research study were considered, thoroughly examined, validated through primary research, and evaluated.
For top-level markets and sub-segments, the impact of inflation, economic downturns, changes in regulations and policies, and other variables is taken into account. In addition to this information, the report includes extensive inputs and analysis. Bottom-up approaches were used to calculate the market size and analyze global market trends. Data were collected from a large sample using both primary and secondary research techniques in order to draw accurate conclusions. Surveys, questionnaire distribution, and telephone interviews with business owners, marketing specialists, market leaders, and industry experts were the primary methods used. Secondary data was painstakingly compiled from a carefully selected set of sources to ensure that the conclusions were correct.
In addition to white papers and annual reports, there are paid databases, industry journals, white papers, annual reports, product manufacturer and supplier releases, official databases of numerous organizations, and government websites. PESTLE analysis was used to understand various market factors, whereas SWOT analysis was used to understand major corporations’ strengths and weaknesses. As a result, the report delves deeply into the Boxing Gloves Market.
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Boxing Gloves Market Overview
Boxing gloves are cushioned gloves that boxers wear on their hands during matches and practises. Boxing gloves are designed to keep a fighter’s hands safe during a fight. While these gloves protect the face from superficial injuries, they also allow users to land harder punches to the head, increasing the opponent’s risk of brain damage. In recent years, the number of boxing tournaments held around the world has increased significantly, resulting in increased participation in this sport. As a result, the number of training clubs has increased.
Boxing Gloves Market Dynamics
The millennial generation values health and prefers to lead a healthy lifestyle. Youth, in addition to following a strict diet and a rigorous exercise regimen, participate in active sports, particularly boxing. Sports provide numerous benefits, including improved health and well-being, increased confidence, and aiding in the maintenance of mental health. According to the European Union’s 2021 report on Youth Sport Participation, 75% of Europe’s 18 major sports saw active participation by females aged 16 to 18, with boxing seeing the greatest increase of 86%. While males aged 16 to 18 had 79% active participation, females had an 11% increase. As a result, increased youth sports participation will increase demand for the boxing gloves market.
Boxing world championships and tournaments are growing in popularity, and the sports industry is promoting boxing as a mainstream sport, which is driving the boxing gloves market. Furthermore, growing concern about animal welfare and environmental issues is encouraging people to choose cruelty-free and sustainable products. As a result, key companies are concentrating on product development and the introduction of environmentally friendly boxing gloves. In October 2020, for example, Boxing Apparel Company Sanabul partnered with Dessert, a Mexico-based company specializing in cactus leather.
Boxing Gloves Market Regional Insights
The market was dominated by North America. The majority of the population in the region understands the importance of living a healthy lifestyle. This has inspired them to take up outdoor and indoor sports such as boxing. Furthermore, obesity has recently emerged as a major concern throughout the region, influencing consumers to adopt active lifestyles that help them maintain their fitness and wellness. Over the years, boxing has grown in popularity as a fitness sport in the United States.
Boxing Gloves Market Segmentation
- 4 to 10 oz
- 12 to 18 oz
- Above 18 oz
- Training Gloves
- Bag Gloves
- PU Leather
Boxing Gloves Market Key Competitors:
- Bytomic Martial Arts
- Century Martial Arts
- Combat Sports Ins
- Everlast Worldwide Inc
- Fairtex Equipment co. Ltd
- Hayabusa Fightwear Ins,
- Prolast Corporation
- RDX Sports
- Title Boxing LLC
- Twins Special
- Rival Boxing
- International ltd
- Adidas AG
- Sports Direct International Plc
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Key questions answered in the Boxing Gloves Market are:
- What is Boxing Gloves?
- Who are the European Boxing Gloves market leaders?
- How does competition differ in the Boxing Gloves industry between developed and emerging economies?
- Who are the top ten market participants in Boxing Gloves?
- What factors are influencing the Boxing Gloves Market’s growth?
- Who are the market leaders in Boxing Gloves in India, China, Japan, and South Korea?
- Who controlled the majority of the Boxing Gloves Market?
- What factors are driving the growth of the Asia-Pacific Boxing Gloves Market?
- What will be the Boxing Gloves Market’s growth rate during the forecast period?
- Who are the market leaders in Boxing Gloves in the United States and Canada?
- Market Drivers, Opportunities, Trends, Statistics, & Forecast by Revenue | 2022−2029
- Market Dynamics – Industry Growth, Trend, Share, and Forecast to 2029
- Market Segmentation – A detailed analysis by Size, Type, Buyers, Materials and Region
- Competitive Landscape – Top Key Players and Other Prominent Vendors
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