The global boxing equipment market is anticipated to witness high growth owing to rising participation in sports globally. Boxing equipment such as boxing gloves, hand wraps, headgear, protectors, punching bags and other gear are essential for practicing this contact combat sport. The increasing popularity of boxing as an intense full-body workout that provides a variety of physical and mental health benefits has spurred the demand for quality boxing gear.
The global boxing equipment market is estimated to be valued at US$ 2.22 Billion in 2024 and is expected to exhibit a CAGR of 9.7% over the forecast period 2024 to 2030. Boxing equipment like gloves help absorb the impact of punches while hand wraps provide support to wrists and hands. Headgear helps protect the head from blows during sparring sessions. Punching bags allow boxers to practice different punches without a partner. The protective gear shields boxers from potential injuries, encouraging mainstream participation.
Key Takeaways
Key players operating in the boxing equipment market are Kingston Technology Corporation, Apple Inc., SanDisk Corp., Samsung Electronics Co. Ltd., Skullcandy, Inc., Microsoft Corporation, Sony Corp., Capdase International Limited, and Moshi, by Aevoe Group. These companies manufacture high-performance boxing gloves, heavy bags, speed bags, and other gear. They also sponsor major tournaments to increase brand visibility.
The rising popularity of combat sports and intense home workouts during the pandemic have created lucrative opportunities for new entrants with innovative products. Several direct-to-consumer startups are disrupting the market with affordable yet technologically advanced smart gear that tracks metrics to improve punch techniques.
North American and European players are expanding to Asia Pacific and Middle Eastern countries with developing boxing leagues and amateur circuits. Partnerships with local gyms and promotion of Elite champions help gain footprint in new geographies. Manufacturing units are also being set up in low-cost destinations to cater to the increasing global demand.
Market Drivers
Increasing participation in combat sports: The growing interest of audiences in UFC and other MMA events has encouraged participation in various forms of combat training, including boxing. This is a key driver behind the rising demand for boxing equipment.
Popularity as an intense workout: Boxing provides a 360-degree workout that develops strength, speed, stamina and fitness when practiced regularly. This complete body workout appeals to health-conscious individuals, driving the equipment market's growth.
Market Restraints
High initial purchase cost: Equipment like ring-ready boxing gloves, punching bags, skipping ropes require substantial initial investment, which can be a barrier for entry-level users.
Requirement of space: Practicing boxing needs open space for activities like jumping rope, bag work etc. The need for adequate space deters some potential boxers living in small urban accommodations.
Segment Analysis
Boxing gloves are the most widely used and dominating sub segment in the global Boxing Equipment Market Trends Boxing gloves help protect hands and provide cushioning during sparring and boxing matches. There is a high demand for professional grade boxing gloves among amateur and professional boxers. Rising participation in amateur level boxing tournaments and competitions has fueled the sales of various types of boxing gloves including 12 oz, 14 oz, and 16 oz gloves over the forecast period.
Protective gear such as headgear, shin guards, and mouth guards also account for a significant share in the boxing equipment market. Headgears are mandatory for amateur boxers to prevent head injuries during training sessions and matches. Mouth guards help protect the teeth and jaw area from directly receiving punches. The adoption of protective gear is expected to increase over the coming years, ensuring the safety of boxers.
Global Analysis
North America dominates the global boxing equipment market and is expected to continue its leading position during the forecast period. The presence of major boxing equipment manufacturers along with the high participation of people in amateur and professional boxing in countries like the US and Canada has made North America the largest regional market.
The Asia Pacific region is identified as the fastest growing market for boxing equipment. Popularity of the sport along with mega boxing tournaments and events in countries such as China, India, Thailand is driving the demand in the region. In addition, growing health-consciousness and increasing participation in fitness activities in developing economies is favoring the sales of boxing gear in Asia Pacific.
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