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Boxing Gloves Market

Boxing Gloves Market

by Size (4 to 10 oz, 12 to 18 oz, Above 18 oz), by Type (Bag Gloves, Training Gloves, Others), by Buyer (Institutional, Individual), by Material (Leather, PU Leather, Superskin, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Report Code: A15207
Pages: 300
Aug 2022 | 1314 Views
Author(s) : Dinesh T , Roshan D
Tables: 179
Charts: 61
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Boxing Gloves Market Research, 2031

The global boxing gloves market size was valued at $902.8 million in 2021, and is projected to reach $1.4 billion by 2031, growing at a CAGR of 4.6% from 2022 to 2031.

The outbreak of the COVID-19 pandemic in 2020, resulted in a downfall of the boxing gloves market. The closure of fitness centers and boxing gyms along with the cancellations of all boxing events resulted in the lower demand among the buyers of boxing gloves.

Boxing Gloves Market, Boxing Gloves Industry, Boxing Gloves Market Size, Boxing Gloves Market Share, Boxing Gloves Market Growth, Boxing Gloves Market Trends, Boxing Gloves Market Analysis, Boxing Gloves Market Forecast

The boxing gloves market is segmented into Size, Type, Buyer and Material.

Boxing gloves are extra cushioned and non-lethal gloves, especially designed to be used during combat or in fighting sports such as boxing, Muay Thai, and kickboxing. Boxing gloves are designed to provide comfort and safety to the hands of the fighter and the opponent during boxing match and training.

The boxing gloves market demand is expected to rise significantly across the globe owing to rise in participation of women and kids in boxing as a part of recreational and fitness activity. There are several health benefits associated with playing or participating in boxing such as reduced stress, low blood pressure, weight loss, and improved heart health. There are some people who opt for boxing specifically for their fitness purposes while some pursue it as a profession.

Rise in participation of women in boxing and other combat sports is driving the demand for boxing gloves. Boxing is no longer seen as a man's sport, and more women are taking up the sport for its health and fitness benefits. This trend is reflected in the increasing sales of boxing gloves owing to more women are participating in boxing. There has also been a corresponding increase in the number of female boxing clubs and gyms. Moreover, boxing is gaining popularity as a form of fitness and self-defense training, especially among women. 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. Due to increasing popularity of women participation in national and international boxing tournaments is encouraging more women to get involved in the sport. In addition, this can stimulate the boxing gloves manufacturers to bring more boxing gloves that are designed for women boxers specifically, with different colors and designs that appeal to women.

The latest innovative product launches and advancements in the technology are expected to play a crucial role in the global boxing gloves market growth in the future. Hayabusa Fightwear’s key innovative products includes T3 Boxing Glove and Project T3D. The T3 Boxing glove is recognized as the most advanced and protective boxing gloves in the globe. It offers a superior wrist support and two interlocking straps that provides a perfect fit to the users. Its multi-layered technology foam composition offers knuckle protection and the ultra-soft temperature regulating lining helps to keep the hands cool. Furthermore, the company also offers a money back guarantee to the buyers without any questions asked that attracts the customers and creates a brand value in the mind of the customers. The Project T3D is a new addition to the portfolio of Hayabusa. It is known for its world-class protection feature provided by with the help of Dual-X Closure System technology and this technology is patented by the company. These key innovations are expected to allow the company to generate more revenues by providing rare features and high quality of boxing gloves.

Boxing gloves have a specific purpose that includes prevention of unwanted harm, such as wounds and broken bones, during practice and competition by protecting both the user and the opponent. For the majority of the sport's documented history, boxers have used hand protection, but after the Marquess of Queensberry regulations were formed in 1867, they were forced to use boxing gloves for protection purpose. The modern day boxing gloves aren't all that different from those of the past, which isn't surprising for a piece of equipment with such a specific purpose, but there has been a clear evolution as the market's top brands compete for the most supportive, comfortable, and protective gloves available. Modern technology even makes it possible to accurately determine how protective the boxing equipment is, with some products eliminating the conventional weight method and creating something actually protective. These advanced boxing gloves enables the boxers to monitor their boxing sessions by keeping track of the punches thrown and the frequency and intensity of punches, while eliminating any other motions (skipping rope, blocks and parries, kicks and even strength and conditioning work like battle ropes). Since most of these trackers quickly display the data in real time on the phone screen, training progress can be checked. Directly monitoring the performance during a training session has nothing but advantages.

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. The 4 to 10 oz is further divided based on user such as men, women, and kids. Moreover, the 12 to 18 oz segment is further bifurcated into men and women.

Depending on type, the boxing gloves market is segregated into bag gloves, training gloves, and others. By buyer, it is categorized into institutional and individual. Depending on the material, it 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).

Boxing Gloves Market
By Size

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12 to 18 Oz segment dominated the market in 2021, owing to the rising participation of young adults in boxing as a part of fitness and recreational activity

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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 increased demand for the 12 oz to 18 oz sizes among the consumers who weighs 120 pounds to 180 pounds. The 12-ounce gloves are the lightest in this category and are typically used by children or by people with small hands. The 14-ounce gloves are a bit heavier and are often used by people who are new to boxing. The 16-ounce gloves are the standard size for most adult boxers. The 18-ounce gloves are the heaviest and are typically used by people with large hands or by people who want extra protection for their hands.

Boxing Gloves Market
By Type

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Training gloves segment dominated the market in 2021, owing to its higher demand and its everyday use by the boxers, globally. Training gloves are made to offer the best fusion of performance and protection.

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Based on type, the training gloves segment is expected to remain dominant during the forecast period. This dominance is attributed to 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. Training gloves are made to offer the best fusion of performance and protection. Training gloves typically have a hook-and-loop closure to make wearing and taking off of them simple. Boxing gloves are used to safeguard both the boxer and the opposition. The training gloves also offer a mechanism to calculate how many rounds a person has engaged in.

Boxing Gloves Market
By Buyer

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The institutional segment dominated the market, garnering a market share of 63.0% in 2021. The higher demand for the different types of boxing gloves across various institutions like boxing gyms, schools, colleges, and other institutions where boxing is adopted as a part of sports and recreational activity has boosted the growth of this segment.

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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. As a result, the boxing gloves market has seen a rapid growth in recent years. Additionally, the growing popularity of different combat sports where boxing gloves are used is also fueling the demand for boxing gloves. Hence, the demand for boxing gloves is expected to grow in the coming years.

Boxing Gloves Market
By Material

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The PU (polyurethane) leather segment dominated the market in 2021. Enhanced durability, more comfort, and cheap cost are the major factors that has led to the increased demand for PU leather in manufacturing of boxing gloves, across the globe.

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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.

Boxing Gloves Market
By Region

2031
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific is expected to be the fastest-growing market owing to a surge in popularity of boxing as a sports and growing participation of kids and women in the developing nations like China, India, and Philippines.

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Region wise, Asia-Pacific is expected to be the fastest-growing market during the forecast period. The Asia-Pacific region is home to some of the world’s most passionate boxing fans, and the market for boxing gloves is booming in the region. With the growing popularity of boxing in the region, more and more people are looking for quality boxing gloves to help them train and compete. The major factors driving the growth of the market are the increasing popularity of Mixed Martial Arts (MMA) 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. 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. Additionally, the region is home to some of the world's most prominent boxing events, such as the Asian Amateur Boxing Championships which is expected to boost the demand for boxing gloves in the region.

The key players operating in the global boxing gloves industry 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 size 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 boxing gloves industry.
  • Boxing gloves 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.

Boxing Gloves Market Report Highlights

Aspects Details
Size
  • 4 to 10 oz
    • User
      • Men
      • Women
      • Kids
  • 12 to 18 oz
    • User
      • Men
      • Women
  • Above 18 oz
Type
  • Bag Gloves
  • Training Gloves
  • Others
Buyer
  • Institutional
  • Individual
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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Based on insights of various CXOs of leading companies, innovation is the key factor that propels the market growth of boxing gloves market in the global sports industry. Likewise, the upcoming innovations and the product launch of upgraded boxing gloves are enticing the interest of individuals to go for the products. For instance, Hayabusa Fightwear’s 2020, launched key innovative products named the "T3 Boxing Glove and Project T3D". The T3 Boxing glove is widely regarded as the most modern & protective boxing glove available. It provides improved wrist support and two interlocking straps for a custom fit to users. Its multi-layered technological foam structure protects the knuckles, and the ultra-soft temperature regulating lining keeps the hands cool. Hayabusa's Project T3D is a fresh addition to their repertoire. It is well-known for its world-class protective feature, which is given by the company's unique Dual-X Closure System technology. These significant advancements are allowing organizations to create more cash by delivering unusual features and high-quality boxing gloves.

Further, participation of women in the field of sports as a valuable contribution to the entire sports fraternity. Rise in participation of women in the field of boxing, increase in initiatives by the government of different countries, and the initiatives of conducting different boxing tournaments and championships for women encourage the participation rate. In addition, the initiatives pave a road for the future generation to consider boxing as a professional career that is not limited to men. Manufacturing companies are focusing to launch innovative boxing gloves, especially for women in different weight categories that will provide a unique experience and look after comfort. The innovations in the upcoming year are expected to boost the growth of the global boxing glove market.

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FREQUENTLY ASKED QUESTIONS?

A. 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. The demand for the boxing gloves is expected to rise significantly across the globe owing to rise in participation of women and kids in boxing as a part of recreational and fitness activity.

A. The global boxing gloves market report is available on request on the website of Allied Market Research.

A. The forecast period considered in the global boxing gloves market report is from 2022 to 2031. The report analyzes the market sizes from 2022 to 2031 along with the upcoming market trends and opportunities. The report also covers the key strategies adopted by the key players operating in the market.

A. 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.

A. 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. The 4 to 10 oz is further divided based on user such as men, women, and kids. Moreover, the 12 to 18 oz segment is further bifurcated into men and women. 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, Europe, Asia-Pacific, and LAMEA

A. Region wise, Asia-Pacific is expected to be the fastest-growing market during the forecast period. The Asia-Pacific region is home to some of the world’s most passionate boxing fans, and the market for boxing gloves is booming in the region. With the growing popularity of boxing in the region, more and more people are looking for quality boxing gloves to help them train and compete. The major factors driving the growth of the market are the increasing popularity of Mixed Martial Arts (MMA) 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.

A. The outbreak of the COVID-19 pandemic in 2020, resulted in a downfall of the boxing gloves industry. The lack of labor, disruptions in supply chain, and partial or complete closure of the manufacturing facilities due to the lockdown restrictions attributed to the decline in production and sales of boxing gloves. The lack of raw material was a key factor behind the declining production of boxing gloves in the initial phase of the COVID-19 pandemic. Furthermore, the closure of fitness centers and boxing gyms further resulted in the lower demand among the institutional buyers of boxing gloves.

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