The global market for sports gloves, worth an estimated $1.4 billion in 2022, is projected to reach $1.6 billion by 2026, for a compound annual growth rate (CAGR) of 3.5 percent over 2020/27, according to a new report by Research and Markets.
Boxing gloves, one of the segments in the report, are expected to post a record 4.1 percent CAGR and reach $641.9 million by 2026. The U.S. is the biggest market for sports gloves, worth an estimated $443.4 million in 2021. China, the world’s second largest economy, is among the fastest-growing glove markets, with a projected 6 percent CAGR over the analysis period.
The U.S., Canada, Japan, China and Europe should drive the 3.2 percent CAGR for the hockey glove segment. The projected increase in post-Covid gym enrollments, combined with the redoubled focus on immunity and health, is expected to boost demand for fitness and workout gloves. Meanwhile, the pandemic has led to a recreational cycling boom, which will in turn produce a spike in demand for cycling gloves, suggests the report. Also, sports tourism is expected to emerge as a significant opportunity post Covid-19, with major sports-tourism destinations becoming top markets for sports gloves.
The report features 38 select competitors, among them Adidas America, All-Star Sporting Goods, AML Group, Everlast Worldwide, Gloves n Gloves, Grays of Cambridge, Hirzl, Kathmandu Outdoor, Mizuno, Nike, Rawlings, Select Sport, A/S, TH-SPORT (H.K.), Under Armour and Wilson Sporting Goods.
