Sports Hand Gloves Market End User Analysis, Application, and Trends
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
(firmenpresse) - 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.
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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Datum: 05.07.2019 - 02:41 Uhr
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News-ID 1550473
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Date of sending: 05.07.2019
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