Boxing
Equipment includes gloves, punching bags, hand wraps, headgear, shin guards,
ankle/feet protection etc. These equipment are essential for boxers to protect
themselves and safely practice the sport.
The global Boxing Equipment Market is
estimated to be valued at US$ 1.92 Bn in 2023 and is expected to exhibit a CAGR
of 17% over the forecast period 2023 to 2030, as highlighted in a new report
published by Coherent Market Insights.
Market key trends:
The rising popularity of combat sports like boxing and mixed
martial arts especially among youngsters has been a key growth driver for the
boxing equipment market. With increasing interest in these sports, the number
of amateur and professional participants has seen a significant surge over the
past few years. According to a survey, over 2.5 million youngsters in the age
group of 10-25 are actively involved in combat sports in the US alone. This
growing sports participation base has translated into strong demand for
specialized protective equipment like gloves, guards, wraps etc and is expected
to continue propelling the boxing equipment market revenues over the forecast
period.
Segment
Analysis
The global boxing equipment market is dominated by the gloves sub segment.
Boxing gloves account for over 50% of the total market share owing to the
requirement of specialized gloves in boxing that provide protection to boxers
while allowing them to throw punches. Next in line are protective gear such as
headguards and shin guards which are also essential for this contact sport.
Key Takeaways
The global boxing equipment market is expected to witness high growth over the
forecast period of 2023 to 2030. The market size for 2023 is estimated to be
US$ 1.92 Billion.
Regional analysis: North America currently holds the largest share of the
global boxing equipment market, driven by the popularity of boxing as a sport
in countries like the US and the presence of major manufacturers in the region.
However, Asia Pacific is expected to grow at the fastest pace during the
forecast period supported by the increasing participation of women in boxing
and rising health awareness in countries like China and India.
Key players: Key players operating in the boxing equipment market are Novartis
International AG, Pfizer, Inc., Sanofi S.A., Amgen, Inc., Regeneron
Pharmaceuticals, Inc., F. Hoffmann-La Roche AG, Bluebird Bio, Inc. (Celgene
Corporation), Gene biotherapeutics, Sibiono GeneTech Co. Ltd., Kolon
TissueGene, Inc., Horama S.A., MeiraGTx Limited, Gilead Sciences, Inc., Biogen
INC., Organogenesis, Inc., JCR Pharmaceuticals Co. Ltd, uniQure N.V.,
WuxiAppTec, Lonza, and Immuneel Therapeutics Pvt Ltd.
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