Baseball Gloves Market – Valuable Growth Prospects and Future Insights till 2022
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.
[UKPRwire, Thu Jun 13 2019] The overall sales of baseball gloves remain sluggish due to low popularity of the game as compared to other sports such as basketball, soccer or lawn tennis. Baseball glove is a niche sporting gear predominantly used by baseball players. Use of baseball gloves basically started in 1870s when baseball players like Douglas L. Allison decided to use protective gloves during games. The gloves proved quite useful for players and gradually involved into baseball gear. Baseballs gloves are generally made of leather and can last for several years. Longevity of baseball gloves also impact their purchasing cycle. The conventional utility and design of baseball gloves did not change much over the past few decades. Moreover, limited scope of any radical transformation in product designs, coupled with lack of awareness among buyers about new products that are manufactured using alternative raw materials, is also playing a role in undermining any value growth in demand for baseball gloves. 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.
Baseball glove, also known as mitt is a bulky leather glove used by baseball players. Usually, it is worn by the players of a defending team for assisting each other in fielding and catching balls thrown by a teammate or hit by the opponent batter. Based on convention, a right-handed thrower wears the glove on his left hand and inversely, a left-handed thrower on his right hand.
North America is expected to remain of the most lucrative market for baseball during the forecast period. The baseball gloves market in the region currently accounts for a significant revenue share and the trend is likely to continue through 2022. This is primarily owing to the overwhelming popularity of baseball in the U.S., which continues to drive the sales on various baseball equipment and gears including gloves.
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On the basis of baseball glove types, demand for first baseman's baseball gloves is expected to remain considerably high during the forecast period. Global sales of first baseman's baseball gloves currently account for around 27% revenue share of the market. In addition to it, more than US$ 6 Mn worth first baseman's baseball gloves are estimated to be sold globally by 2022-end.
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.
Fact.MR report also profiles key companies that are expected to remain active in the expansion of global baseball gloves market through 2022, which include Adidas AG, Amer Sports Corporation, Ampac Enterprises Inc., Easton Sports, Inc., Franklin Sports Inc., Mizuno Corporation, Newell Brands, Inc., NIKE, Inc., Under Armour, Inc., and Vinci Pro.
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