The global boxing gloves market size was valued at $902.8 million in 2021, and is estimated to reach $1,400.0 million by 2031, registering a CAGR of 4.6% from 2022 to 2031.
Boxing gloves are padded gloves worn on the hands of boxers during fights and practice sessions. Boxing gloves are cushioned properly to make it non-lethal, to protect both the opponent in the face and the boxer's hand during a fight. These are primarily used in the sport of boxing to protect the fighter's hand from injury. Despite the usage of gloves, hand injuries are highly prevalent in combat sports. Boxing gloves are often equipped either with lace-ups or velcro attachments. The velcro on the boxing gloves works as a tight wrap, adding extra wrist stability. Lace-up gloves give a more compact fit, and they must be laced with the aid of another person and are covered with tape before the match.
Boxing is a prominent combat sport that needs a lot of effort and teamwork. It has recently gained popularity as a type of exercise. People are taking up boxing for fitness, they frequently utilize a punching bag to minimize direct contact, which can result in concussions and other injuries. Boxing as an exercise has numerous benefits such as improving heart health as high-intensity interval training in boxing has been associated with a decreased risk of heart disease, aids in weight loss, boosts body strength, improves balance, and others. The rise in awareness among individuals about the benefits of taking up boxing as a fitness regime or as a career is fueling the increase of boxers, which is directly increasing the demand for boxing gloves.
Boxing global championships and tournaments are becoming more common, and the sports business is pushing boxing as a game and sport. Furthermore, many people engage in boxing as a recreational activity to stay fit and healthy. A rise in the number of persons interested in boxing is anticipated to increase demand for boxing equipment. Globally, the number of world championships and individuals competing from colleges and institutions has increased. The worldwide sports industry is now an all-encompassing enterprise, comprising everything from athletic equipment and apparel to television rights, sponsorship, and retailing. This is boosting global demand for boxing gloves, which is directly fueling the growth of the boxing gloves market.
Digital marketing is the advertising of products or services using new technology, particularly the Internet, and via numerous means such as cell phones, display adverts, and all other digital and social media platforms. Boxing gear and equipment manufacturing companies are working hard to promote the products on social media and are spending a lot of money on digital marketing to raise awareness about the benefits of using different types of boxing gloves designed for different regimes. 'Social Gloves: Battle of the Platforms,' for instance, is a unique, unparalleled live premium entertainment mega event that will involve a Gatsby-style over-the-top boxing battle between the world's greatest social media celebrities from YouTube against the booming TikTok platform. This event is generating buzz among those who follow the artists on various media and motivating people to participate in the sport to support the creators. The growing population of boxers is raising the demand for boxing gloves and other equipment.
The boxing gloves market is segmented into size, type, buyer, material, and region. Depending on the size, the market is classified into 4 to 10 Oz, 12 to 18 Oz, and above 18 Oz. Depending on type, it is segregated into bag gloves, training gloves, and others. By buyer, it is categorized into institutional and individual. Depending on the material, the market is classified into leather, PU leather, superskin, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, Philippines, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, and rest of LAMEA).
The key players operating in the global boxing gloves market have adopted various developmental strategies to expand their boxing gloves market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Adidas, Bytomic Martial Arts, Century Martial Arts, Combat Sports, Everlast Worldwide, Fairtex Equipment Co.Ltd., HayabusaFightwear Inc., PROLAST Corporation, Reebok International, Revgear, RDX Sports, Sanabul, Title Boxing LLC., Twins Special, and Yokkao.
Boxing gloves are padded gloves worn on the hands of boxers during fights and practice sessions. Boxing gloves are cushioned properly to make it non-lethal, to protect both the opponent in the face and the boxer's hand during a fight. These are primarily used in the sport of boxing to protect the fighter's hand from injury. Despite the usage of gloves, hand injuries are highly prevalent in combat sports. Boxing gloves are often equipped either with lace-ups or velcro attachments. The velcro on the boxing gloves works as a tight wrap, adding extra wrist stability. Lace-up gloves give a more compact fit, and they must be laced with the aid of another person and are covered with tape before the match.
Boxing is a prominent combat sport that needs a lot of effort and teamwork. It has recently gained popularity as a type of exercise. People are taking up boxing for fitness, they frequently utilize a punching bag to minimize direct contact, which can result in concussions and other injuries. Boxing as an exercise has numerous benefits such as improving heart health as high-intensity interval training in boxing has been associated with a decreased risk of heart disease, aids in weight loss, boosts body strength, improves balance, and others. The rise in awareness among individuals about the benefits of taking up boxing as a fitness regime or as a career is fueling the increase of boxers, which is directly increasing the demand for boxing gloves.
Boxing global championships and tournaments are becoming more common, and the sports business is pushing boxing as a game and sport. Furthermore, many people engage in boxing as a recreational activity to stay fit and healthy. A rise in the number of persons interested in boxing is anticipated to increase demand for boxing equipment. Globally, the number of world championships and individuals competing from colleges and institutions has increased. The worldwide sports industry is now an all-encompassing enterprise, comprising everything from athletic equipment and apparel to television rights, sponsorship, and retailing. This is boosting global demand for boxing gloves, which is directly fueling the growth of the boxing gloves market.
Digital marketing is the advertising of products or services using new technology, particularly the Internet, and via numerous means such as cell phones, display adverts, and all other digital and social media platforms. Boxing gear and equipment manufacturing companies are working hard to promote the products on social media and are spending a lot of money on digital marketing to raise awareness about the benefits of using different types of boxing gloves designed for different regimes. 'Social Gloves: Battle of the Platforms,' for instance, is a unique, unparalleled live premium entertainment mega event that will involve a Gatsby-style over-the-top boxing battle between the world's greatest social media celebrities from YouTube against the booming TikTok platform. This event is generating buzz among those who follow the artists on various media and motivating people to participate in the sport to support the creators. The growing population of boxers is raising the demand for boxing gloves and other equipment.
The boxing gloves market is segmented into size, type, buyer, material, and region. Depending on the size, the market is classified into 4 to 10 Oz, 12 to 18 Oz, and above 18 Oz. Depending on type, it is segregated into bag gloves, training gloves, and others. By buyer, it is categorized into institutional and individual. Depending on the material, the market is classified into leather, PU leather, superskin, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, Philippines, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, and rest of LAMEA).
The key players operating in the global boxing gloves market have adopted various developmental strategies to expand their boxing gloves market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Adidas, Bytomic Martial Arts, Century Martial Arts, Combat Sports, Everlast Worldwide, Fairtex Equipment Co.Ltd., HayabusaFightwear Inc., PROLAST Corporation, Reebok International, Revgear, RDX Sports, Sanabul, Title Boxing LLC., Twins Special, and Yokkao.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the boxing gloves market analysis from 2021 to 2031 to identify the prevailing boxing gloves market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the boxing gloves market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global boxing gloves market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Size
- 4 to 10 oz
- User
- Men
- Women
- Kids
- 12 to 18 oz
- User
- Men
- Women
- Above 18 oz
By Type
- Bag Gloves
- Training Gloves
- Others
By Buyer
- Institutional
- Individual
By Material
- Leather
- PU Leather
- Superskin
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Russia
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Philippines
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- Bytomic Martial Arts
- century martial arts
- Combat Sports Inc.
- Everlast Worldwide Inc.
- Fairtex Equipment Co. Ltd
- Hayabusa Fightwear, Inc.
- Prolast Corporation
- Revgear
- RDX Sports
- Sanabul
- Title Boxing, LLC.
- Twins Special
- Yokkao
- Rival Boxing
- reebok international ltd.
- Adidas AG
- Sports Direct International Plc
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BOXING GLOVES MARKET, BY SIZE
CHAPTER 5: BOXING GLOVES MARKET, BY TYPE
CHAPTER 6: BOXING GLOVES MARKET, BY BUYER
CHAPTER 7: BOXING GLOVES MARKET, BY MATERIAL
CHAPTER 8: BOXING GLOVES MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Boxing Gloves Market," the boxing gloves market size was valued at $902.80 million in 2021, and is estimated to reach $1.4 billion by 2031, growing at a CAGR of 4.6% from 2022 to 2031.The rising participation of kids and women in boxing is a major factor anticipated to drive the global boxing gloves market growth. The developing nations like China, India, and Philippines are encouraging participation of women in boxing. A team of 12 boxers represented India, participated in IBA Women's World Boxing Championship in year 2022 in which 3 medals were won by India. This type of events inspires and motivates women population to participate in various combat sports like boxing. Furthermore, the various government initiatives and financial assistance is boosting the women participation in boxing. For instance, the Ministry of Youth Affairs and Sports, India, has sanctioned 8 men and 12 women boxers’ participation in Strandja Memorial Tournament 2022, held in Bulgaria, at full cost to the Indian government. Therefore, rising government initiatives to support boxing players is expected to drive the women participation in boxing, and hence, the demand for the boxing gloves is expected to rise significantly.
The popularity of boxing has witnessed a significant growth through the various social media platforms such as YouTube and Tik-Tok. Boxing gained immense popularity and was instantly on various social media platforms and was on the limelight after the KSI VS Logan Paul Event, which was the first time boxing entered the public media and featured celebrities who were not even well-known for their involvement in the sport. It was one of the key turning moments for the sport. Gloves are a must for the same sport of boxing and are one of the main requirements. The market for boxing gloves is being severely influenced by the growth of participants. People are choosing boxing in greater numbers than ever before, with the increase in the popularity of the sport. Through numerous social media platforms, boxing has gained widespread popularity. Women's boxing is now witnessing remarkable growth in popularity across the globe. Women's boxing has been gaining popularity among competitions and broadcasters. At the Tokyo 2020 Olympic Games, nearly five weight divisions related to women's boxing were introduced. Numerous well-known and sizable organizations support the women's boxing team by covering the costs of training and other necessities for boxing gear, such as boxing gloves. In order to expand their market position globally, market players are focusing on product innovation, such as lightweight gloves and headgear for women.
As per the boxing gloves market analysis, the boxing gloves market is segmented on the basis of size, type, buyer, material, and region. Depending on the size, the market is classified into 4 to 10 Oz, 12 to 18 Oz, and above 18 Oz. Depending on type, it is segregated into bag gloves, training gloves, and others. By buyer, it is categorized into institutional and individual. Depending on the material, the market is classified into leather, PU (Polyurethane) leather, superskin, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, Philippines, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, and rest of LAMEA).
According to the boxing gloves market forecast, by size, the 12 to 18 Oz segment dominated the market in 2021, and is expected to retain its dominance during the forecast period. 12 to 18 Oz segment accounted for 61.5% of the boxing gloves market share in 2021. This is attributed to the increased demand for the 12 Oz to 18 Oz sizes among the consumers who weighs 120 pounds to 180 pounds.
As per the boxing gloves market trends, based on type, the training gloves segment is expected to remain dominant during the forecast period. This dominance is attributed to the rising participation of people in practicing boxing in gyms and fitness centers. Training gloves are used on regular basis across the globe by the boxers, which has significantly driven the demand for the training gloves.
Depending on the buyer, the institutional segment dominated the global boxing gloves market in 2021. The major drivers influencing the boxing gloves market for institutional buyers are rapid growth of the fitness and boxing industry, increasing popularity of boxing as a workout and recreation activity, growing interest in boxing as a sport, and increasing availability of boxing gloves in the market. These factors led to a growing demand for boxing gloves among institutional buyers such as gyms, boxing clubs, and sports retailers.
Based on the material, the PU leather was the largest segment in 2021. PU leather is a synthetic material that is used in boxing gloves. It provides high durability, comfort and flexibility to the gloves. PU leather boxing gloves are one of the most popular types of boxing gloves today. Some of the many advantages of PU leather include high durability, comfort for prolonged use, cheap cost, and flexibility for wrist mobility.
Region wise, Asia-Pacific is expected to be the fastest-growing market during the forecast period. The major factors driving the growth of the Asia-Pacific boxing gloves industry are the increasing popularity of combat sports such as boxing, kickboxing, and Muay Thai, and the growing demand for boxing gloves from the professional boxing industry. Moreover, boxing is gaining popularity as a form of fitness and self-defense training, especially among women.
The key players operating in the global boxing gloves industry have adopted various developmental strategies to exploit prevailing boxing gloves market opportunities, increase profitability, and remain competitive in the market. The key players profiled in this report include Adidas, Bytomic Martial Arts, Century Martial Arts, Combat Sports, Everlast Worldwide, Fairtex Equipment Co.Ltd., HayabusaFightwear Inc., PROLAST Corporation, Reebok International, Revgear, RDX Sports, Sanabul, Title Boxing LLC., Twins Special, and Yokkao.
Key Findings of the Study
- The global boxing gloves market size was valued at $902.8 million in 2021, and is estimated to reach $1,400.0 million by 2031, registering a CAGR of 4.6% from 2022 to 2031.
- By type, the bag gloves segment is estimated to witness the significant growth, registering a CAGR of 4.8% during the forecast period.
- In 2021, depending on material, the PU leather segment was valued at $570.9 million, accounting for 63.2% of the global boxing gloves market share.
- In 2021, the U.S. was the most prominent market in North America, and is projected to reach $450.5 million by 2031, growing at a CAGR of 3.9% during the forecast period.
Companies Mentioned
- Bytomic Martial Arts
- Century Martial Arts
- Combat Sports Inc.
- Everlast Worldwide Inc.
- Fairtex Equipment Co. Ltd
- Hayabusa Fightwear, Inc.
- Prolast Corporation
- Revgear
- Rdx Sports
- Sanabul
- Title Boxing, LLC.
- Twins Special
- Yokkao
- Rival Boxing
- Reebok International Ltd.
- Adidas AG
- Sports Direct International plc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | August 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 902.8 million |
| Forecasted Market Value ( USD | $ 1400 million |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
