The latest report published by Fact.MR projects that the global baseball gloves market will register a miniscule CAGR of 2.3% during 2017 to 2022.
Dublin, Ireland -- (SBWIRE) -- 09/15/2017 -- The global demand for baseball gloves is expected to remain moderate over the next couple of years. This is mainly due to the low popularity of baseball as compared to other sports such as lawn tennis, basketball, and soccer. Baseball is a sport that is played in few selected countries such as the U.S., Japan and Canada among others, making baseball equipment and accessories niche. Use of gloves in baseball games started in 1870s when baseball players like Douglas L. Allison started using gloves for preventing finger injuries during matches. In the following decades gloves slowly became a common baseball gear.
At present, there are five major types of baseball gloves that are used by players, which include pitcher's baseball glove, catcher's mitt baseball glove, first baseman's baseball glove, infielder's baseball glove, and outfielder's baseball glove. The gloves used in a modern game are leather made and highly durable. This, in turn, is impacting the purchasing cycle of the product. Fact.MR's recent study on reveals that the global baseball gloves market is set to witness a sluggish growth during the forecast period (2017-2022). Factors such as little advancement in product design and low awareness among consumers regarding new products is also expected to negatively influence the growth of the market.
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Global Baseball Gloves Market: Key Insights
Based on types, the first baseman's baseball glove segment is expected to remain highly lucrative during the assessment period. In terms of revenue, the segment is projected to represent more than 26% share of the global market towards the end of 2022 and reach a market valuation in excess of US$ 6 Mn.
On the basis of distribution channel, the modern trade segment is expected to retain its top position over the forecast period. The segment currently holds around 24% revenue share of the global market. By the end of 2022, the modern trade segment is estimated to surpass US$ 6 Mn in valuation.
By buyer type, the individual buyer segment will continue to dominate throughout the forecast period. The segment currently commands for over one-third market share in terms of revenue. By 2022-end, the individual buyer segment is anticipated to surpass a valuation of 13 Mn, exhibiting a steady growth.
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Among regions, the baseball gloves market in North America is projected to remain highly attractive between 2017 and 2022. This is mainly due to the widespread popularity of the sport in the countries such as the U.S. and Canada. Majority of the population in the region is familiar with baseball, which, in turn, is driving the demand for various baseball gears and equipment including gloves. Meanwhile, the baseball gloves market in Japan is expected to exhibit a relatively higher CAGR, owing to the growing popularity of the baseball in the country.
Vinci Pro, Adidas AG, Ampac Enterprises Inc., Franklin Sports Inc., Newell Brands, Inc., Under Armour, Inc., Amer Sports Corporation, Easton Sports, Inc., Mizuno Corporation, and NIKE, Inc. are among the leading companies functioning in the global market for baseball gloves.
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