Boxing Gear Market Report 2024

This Boxing Gear market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The boxing gear market size has grown strongly in recent years. It will grow from $1.55 billion in 2023 to $1.65 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth during the historic period can be attributed to the rise of boxing as a popular sport in the 20th century, the impact of prominent boxing champions and events, advancements in boxing gear technology and design over the years, the incorporation of boxing into mainstream fitness and training programs, the increase in boxing-related media and entertainment, including films and documentaries, and the establishment of international boxing organizations and tournaments.

The boxing gear market size is expected to reach strong growth in the next few years. It will grow to $2.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth during the forecast period can be attributed to increased demand for advanced safety and injury prevention gear, the expansion of amateur boxing and youth participation programs, a greater emphasis on sports science and performance optimization, the growth of boxing-themed fitness programs and franchises, technological advancements in gear manufacturing and materials, and the rising popularity of mixed martial arts (MMA) and cross-training. Key trends for this period include the use of AI and data analytics for personalized training insights, growth in multifunctional and versatile boxing gear, integration of fitness tracking apps with boxing gear, a stronger focus on sustainability and eco-friendly products, the emergence of hybrid boxing gear that blends traditional and modern elements, and the development of interactive and immersive training experiences.

The growth in participation in combat sports events is expected to drive the expansion of the boxing gear market in the future. Combat sports events are organized competitions where participants engage in physical contests involving striking, grappling, or other forms of direct combat. The rise in participation is fueled by the increasing popularity of these sports as exciting and challenging activities, bolstered by enhanced media coverage and celebrity endorsements. Boxing gear is essential in these events for ensuring athletes' safety and improving performance by providing protection and support during matches. For example, in March 2024, a survey of 2,000 people conducted by Our Sporting Life, a UK-based sports magazine company, revealed that about 4.4% of people in the UK plan to participate in boxing at least monthly, up from 4.1% in 2023. This increase is particularly notable among younger age groups, with 8.91% of those aged 16-24 and 8.41% of those aged 25-34 participating regularly, compared to 7.5% and 7.2% in the previous year. Thus, the growing participation in combat sports events is driving the demand for boxing gear.

Major companies in the boxing gear market are focusing on creating advanced products, such as 3D-printed boxing gloves, to improve precision, durability, and performance. These gloves are custom-made using 3D printing technology, allowing for precise design adjustments to fit an individual's hand shape, comfort, and performance requirements. For example, in April 2023, Hayabusa Fightwear Inc., a Canada-based manufacturer of sports equipment and apparel, introduced the T3D boxing gloves, developed with cutting-edge 3D printing technology. This innovative approach, likely employing SLA or DLP resin printing, replaces traditional foam with lattice structures containing thousands of shock absorbers, offering greater durability and precision than conventional methods. The T3D gloves also provide enhanced energy absorption, improved hand comfort, and a double strap closure system with wrist splint support to enhance athlete performance.

In January 2022, RAF Industries, a US-based private equity firm, acquired Hayabusa Fightwear Inc. for an undisclosed amount. Through this acquisition, RAF Industries aims to use its expertise in scaling similar companies to accelerate Hayabusa's growth trajectory. Hayabusa Fightwear Inc., based in Canada, is a manufacturer of sports equipment and apparel, including boxing gear.

Major companies operating in the boxing gear market are Nike Inc., Adidas AG, Under Armour Inc., TKO Sports Inc., RDX Sports Limited, Lonsdale Limited, Century Martial Arts LLC, Everlast Worldwide Inc., Venum Equipment LLC, Yokkao Co. Ltd., Hayabusa Fightwear Inc., FightCamp Inc., BoxUnion Inc., Ringside Inc., TITLE Boxing Club LLC, Pro-Box Limited, Taishan Sports Industry Group Co. Ltd., Rival Boxing Gear Inc., Combat Corner Professional LLC, ProForce Inc., Top King Boxing Co. Ltd., BOXRAW Limited.

North America was the largest region in the boxing gear market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the boxing gear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the boxing gear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Boxing gear refers to the specialized equipment and protective items boxers use during training and competition to enhance performance and ensure safety. This gear protects the boxer from injuries, allowing for effective practice and competition.

The main product types of boxing gear include boxing gloves, hand wraps, mouthguards, headgear, punching bags, training equipment, protective clothing, and others. Boxing gloves are padded gloves worn by boxers during training and matches to protect their hands and the opponent from injury. The price category includes low, medium, and high with distribution channels such as online retail, sports stores, specialty stores, hypermarkets, supermarkets, and others. The end users include professional boxers, amateur boxers, fitness enthusiasts, boxing clubs, and others.

The boxing gear market research report is one of a series of new reports that provides boxing gear market statistics, including boxing gear industry global market size, regional shares, competitors with an boxing gear market share, detailed boxing gear market segments, market trends and opportunities, and any further data you may need to thrive in the boxing gear industry. This boxing gear market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The boxing gear market consists of sales of boxing shoes, groin protectors, body protectors, elbow guards, forearm guards, neck protectors, speed bags. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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