A Look into Baseball Equipment Industry……Deep Analysis…..
The global baseball
equipment market size is expected
to reach USD 19.2 billion by 2025,
according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.3% over the forecast period.
Extensive popularity of sports due to media coverage of tournaments and leagues
is encouraging the youth and adults to participate in the sport.
The clothing, footwear, & accessories
industry is anticipated to witness checkered growth throughout 2020, as a
result of the unprecedented supply chain disruptions caused by the COVID-19
outbreak worldwide. The expected decline in the global sales of clothing,
footwear, & accessories is attributable to massive supply chain disruptions
across significant export markets, including China and India. However, the
industry is likely to recover over the forecast timeframe, given the rising
popularity of online/e-commerce sales. From a manufacturing standpoint, the
sustainable or ethical fashion trend is expected to favor market growth
throughout the forecast timeframe. Luxury apparel is another lucrative space
for prospective manufacturers to target, given the mushrooming number of
affluent and fashion-conscious consumers across the globe. Our team is
diligently working towards accounting these factors in our report with the aim
of providing you with the up-to-date, actionable market information and
projections.
In addition, the global market is
expected to witness an augmented growth on account of government initiatives on
encouraging participation for baseball among the customers in U.S. and Canada.
For instance, in February 2019, the U.S. Government launched a four day, both
on and off field athlete development program to provide better guidance to the
participants.
Over the past few years, the leading
manufacturing companies have been increasing spending on the launch of new
helmets on account of increased incidences of head injuries in baseball and
other ball games. In order to prevent major head injuries in baseball, these
companies are coming up with helmet variants with better impact absorbing
features, in order to prevent any head injuries. For instance, in 2018, 2ND
Skull, launched an additional headgear to minimize the impact of head injuries
by 50%.
Key market players include Nike; Adidas;
Newell Brands Inc.; Amer Sports; Mizuno Corporation; Zett Corporation; Under
Armour Inc.; Schutt Sports Inc.; Phoenix Bat Company; and YONEX Co. Ltd. The
companies are focusing on acquiring a larger market share by developing new and
innovative products. Moreover, the companies are focused on designing
functional products in order to meet the demand of customers.
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Further key findings from the report suggest:
·
By product, helmet is
anticipated to expand at a CAGR of 4.0% from 2019 to 2025 owing to growing
awareness regarding the usage of protective gears baseball in order to prevent
permanent head injuries
·
Bat dominated the global market
in 2018 due to new product launches with new designs according to the latest
fashion trends and preferences of the customers
·
By distribution channel, supermarkets/hypermarkets
dominated the market in 2018, as different material based bats are used to play
in different pitches of baseball
·
North America dominated the
market in 2018, accounting for 37.3% share of the global revenue. This trend is
projected to continue over the next few years due to high preference for
outdoor sports and growing awareness of their benefits in U.S. and Canada
·
Asia Pacific is expected to
expand at a CAGR of 3.5% from 2019 to 2025
·
The industry is highly
competitive in nature with the key market players including Nike; Adidas;
Newell Brands Inc.; Amer Sports; Mizuno Corporation; Zett Corporation; Under
Armour Inc.; Schutt Sports Inc.; Phoenix Bat Company; and YONEX Co. Ltd.
The
global baseball equipment market size was valued at USD 15.3 billion in 2018.
Increasing number of participants including youngsters and adult players in
outdoor sports is projected to be the key driving factor. Furthermore,
government initiatives on encouraging the population for participating in
baseball as a professional sport are expected to increase the demand for
baseball equipment in the near future.
For
instance, in February 2019, the U.S. Government launched a four day, both on
and off field athlete development program to provide better guidance to the
participants. Baseball is considered to be a significant option to deal with
anxiety issues on account of extensive use of energy and power required in the
sport.
Use
of helmets, gloves, and other accessories has been recommended as a part of
game rule, which ensures safety and comfort benefits to the players on the
field. Increasing health awareness regarding general fitness is also a primary
factor for driving the demand for the baseball equipment market. In addition,
constant development and innovation in the equipment and gears for baseball are
influencing the demand for baseball equipment.
For
instance, Catapult Sports, in March 2017, launched a baseball analytics
product, which analyses the performance of the player, highlights the errors in
the performance, and provides the suitable recommendations for improving the
game of the player. These initiatives by the manufacturers in order to provide
better game experience to the players are also determined to increase the
product demand in the upcoming future.
Bat is anticipated to expand at a
CAGR of 3.3% from 2019 to 2025. Continuous usage of different materials,
including wood, composite, hybrid, and aluminum, based on baseball bats on
account of perceiving greater performance depending on different pitches is
expected to drive the bat segment in future. Keeping in mind the high
consumption of baseball bats due to usage and tear, in April 2019, Wilson
sporting goods, along with Autism Speaks, has launched limited edition and high
performance baseball bat and gloves, in order to attract the premium and
professional players.
Browse Press
Release of this report:
Grand View Research has segmented the
global baseball equipment market on the basis of product, distribution channel:
Baseball Equipment Product Outlook (Revenue, USD Million,
2015 - 2025)
·
Bat
·
Helmet
·
Gloves
·
Equipment Bag
·
Accessories
Baseball Equipment Distribution Channel Outlook (Revenue,
USD Million, 2015 - 2025)
·
Supermarkets/Hypermarkets
·
Convenience Stores
·
Online
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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