Rockville Pike, MD -- (SBWIRE) -- 07/11/2019 -- According to Fact.MR's recent study, the global ice hockey apparel market is poised to register a CAGR of 2.5% in terms of value during the forecast period, 2017-2026. The report further reveals that by the end of 2026, nearly US$ 550 Mn worth of ice hockey apparels will be sold across the globe.
As the popularity of ice hockey gains traction in the global sports industry, companies manufacturing sporting goods & accessories are becoming more focused upon producing the apparels for the sport. New designs for manufacturing ice hockey apparels are being introduced by companies. Several market players are adopting advanced materials to enhance the feel and comfort levels of ice hockey apparel and allow the users an ease of mobility. Moreover, companies producing ice hockey apparels are consistently following the guidelines set by international sports industry regulatory bodies with respect to the use of protective equipment in ice hockey. Apparels with improved functions are being developed at high costs, creating a trend of premiumization in the global ice hockey apparel landscape.
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While the overall ice hockey apparel market expands at a sluggish pace, jackets will continue to be a top-selling apparel through 2026. The report also reveals that the sales of ice hockey jerseys/t-shirts will gain fastest traction by registering a value CAGR of 2.9% over the forecast period. With respect to the buyers, ice hockey apparels bought by individuals will bring more than 66% of the overall market revenues towards the end of the forecast period. The report further estimates that in 2017, more than US$ 120 Mn worth of ice hockey apparels were sold to institutional buyers.
With respect to the sales of ice hockey apparels, a majority of these apparels will be sold to men. The men consumer base for ice hockey apparels will continue to expand on the account of high participation of males in this sports. In 2017, more than US$ 370 Mn worth of ice hockey apparels have been sold to men across the globe. The report further reveals that a major chunk of these sales will be accounted by modern trade channels. However, in the latter half of the forecast period, third-party online sales of ice hockey apparels will gain traction, registering one-fourth share on global market value and reflecting a CAGR of 3.2%.
Leading manufacturers of ice hockey apparels across several parts of the world have been reviewed to draw the global ice hockey apparel competition landscape. Through 2026, companies namely, Adidas AG, Bauer Hockey, Inc., Don Simmons Sports, Inc., Easton Hockey, Inc., Graf Skates AG, Montreal-Tackla Hockey Company, New Balance, Inc., Sherwood Athletics Group Inc., Wm T. Burnett & Co., Inc., and Tecnica Group S.p.A. are expected to lead the global ice hockey apparel production. These companies are expected to primarily focus on introducing new materials in production of ice hockey apparels.
6 Key Research Highlights from Fact.MR Study
Through 2026, North America will emerge as the largest market for ice hockey apparels, particularly to the prevalence of the sports in Canada and the US
With respect to the type of apparels, jackets are poised to remain the top-sellers while jerseys/t-shirts will register fastest revenue growth at 2.9% CAGR over the forecast period
While modern trade channels accounted for global sales of over US$ 100 Mn ice hockey apparels in 2017, third-party online channels will emerge as lucrative for future sales
In 2017 and beyond, men will be the leading consumers in the global ice hockey apparel market, accounting for a global market value share of approximately 85%
Throughout the forecast period, individual buyers will contribute to more than two-third of ice hockey apparel sales globally
By 2026-end, Europe's ice hockey apparel market will account for one-third share of global market value
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