Lacrosse is a team sport played using lacrosse stick and lacrosse ball. The lacrosse stick consists of crossed webbing at one end of a long handle which is used to catch, carry, and pass the ball. Lacrosse sticks are made of wood, aluminum, titanium, composite or other materials. The material and design of lacrosse stick determines its key characteristics such as grip, flexibility, rebound, and control. Advancement in materials and designs have improved lacrosse stick performance. The growing popularity of lacrosse sport especially in North America is fueling the demand for lacrosse sticks. Additionally, increasing participation of girls and women in lacrosse further enhances the market growth.
The Global Lacrosse Sticks Market is estimated to be valued at US$ 397.8 Mn in 2024 and is expected to exhibit a CAGR of 4.4% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Lacrosse Sticks market are ECD Lacrosse, Savage X Lacrosse, LLC, Lacrosse Unlimited, MonkeySports, Inc., Bhalla International, Signature Lacrosse, Advanced Material Specialty Inc., Traditional Lacrosse, Mohawk Lacrosse International, SME India, Northland Lacrosse, Gisco Sports, STX Sporting Goods, Sturdy Sports, Warrior, Pulse Lacrosse, Hattersleys Lacrosse, and Newitts. These players are focusing on developing innovative products to meet the growing Lacrosse Sticks Market Demand.
The Lacrosse Sticks market provides significant opportunities such as expanding participation opportunities in lacrosse events and tournaments. Development of custom lacrosse sticks according to player position, skill level and preference can further propel market growth.
Globally, the market for lacrosse sticks is witnessing high growth especially in North America and Europe owing to rising popularity of lacrosse as a professional and amateur sport. Focus on global tournaments and events is helping lacrosse gain popularity in Asia Pacific and Latin America regions opening new expansion avenues.
Market Drivers and Restraints
Market Drivers:
- Growing participation of girls and women in lacrosse is a key growth driver as it increases overall demand
- Development of lightweight but durable composite lacrosse sticks making the sport more accessible
Market Restraints:
- High cost of top grade lacrosse sticks limits their adoption in price sensitive regions
- Limited participation of lacrosse in some regions acts as a restraint to market expansion
Segment Analysis
The lacrosse sticks market is segmented into Defense, Midfield, and Attack. The defense segment currently dominates the market and is expected to continue its dominance over the forecast period. This is because defense players require high durability and stiffness in their sticks to block shots on goal effectively. Within defense, short handled defensive sticks sub-segment accounts for maximum sales.
Global Analysis
North America is currently the fastest growing as well as the largest regional market for lacrosse sticks. This is attributed to rising interest of people in the sport of lacrosse especially in the US. Within North America, the US market accounts for the lion's share both in terms of value and volume. Besides North America, Europe is emerging as another lucrative market for lacrosse sticks driven by increasing participation in lacrosse in countries like UK, Germany and France. The Asia Pacific market is anticipated to witness strongest growth over the forecast period with India and China being identified as countries with high growth potential for lacrosse sticks market.
Gets More Insights on, Lacrosse Sticks Market
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
Comments
0 comment