Cricket Gloves Market Assessment Covering Growth Factors and Upcoming Trends (2017-2022)
The Fact.MR report on the Cricket Gloves Market anticipates that it will witness a sluggish CAGR of 2.7% from 2017-2022 and be worth approx. US$ 60 million by the end of 2022.
[UKPRwire, Wed Jun 12 2019] The Fact.MR report on the Cricket Gloves Market anticipates that it will witness a sluggish CAGR of 2.7% from 2017-2022 and be worth approx. US$ 60 million by the end of 2022.
Cricket, the quintessential ‘gentleman’s game’ was largely spread by the British during the days of empire. However, countries not a part of the modern Commonwealth of Nations are largely unaware of the game and this has stifled the growth of the cricket gloves market. Cricket gloves are not multi-purpose and can only be used while playing the game further restraining their marketability as an all-purpose sports accessory. In addition, cricket needs a specially curated pitch that has to be maintained throughout the year and it cannot be used during intense rains. This further reinforces the idea that cricket is a game reserved for the privileged, leading to lesser prospects for the cricket gloves market.
There are three main types of cricket gloves– sausage finger cricket gloves, multi-piece cricket gloves, and a hybrid of the two. The sausage design is the traditional approach preferred by professional players as these provide slightly better protection. The materials used to manufacture cricket gloves are calf leather, sheep leather, and even cotton.
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The sausage finger cricket gloves and the multi-piece cricket gloves segment both account for a revenue share of more than a third in the cricket gloves market by product type. The multi-piece cricket glove segment is slightly larger and is anticipated to be worth approx. US$ 22 million by the end of 2022. The popularity of cricket in the highly populous APEJ region, particularly in India, Pakistan, Bangladesh, and Sri Lanka ensures that companies making both forms of gloves types focus their attention on this dynamic region.
The 200mm-210mm glove segment is the largest segment in the cricket gloves market by a considerable margin and companies would do well to take this into account. APEJ alone is touching 40% of the 200mm-210mm glove segment and is poised to exceed US$ 11 million by the end of the forecast period. Another important glove size is the 175mm-190mm segment and this is expected to have a revenue share of roughly a third of the cricket gloves market. Key stakeholders in the cricket gloves market would do well to target Europe in the 175mm-190mm segment.
The Fact.MR report on the cricket gloves market has profiled some of the prominent companies actively involved in the cricket gloves market. These include Adidas AG, Nike, PUMA, Reebok International, MRF, ASICS Corporation, Gray-Nicolls Limited, Kookaburra Sport Pty, Cosco (India) Limited, and Playground Sports (India) Pvt. Ltd.
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The individual segment accounts for the lion’s share of the cricket gloves market by buyer type and is likely to remain so throughout the duration of the forecast period. The individual segment is on track to be worth just under US$ 42 million by end 2022, making it imperative for key stakeholders in the cricket gloves market to target these buyers. The institutional segment is some way behind at approx. a third of the cricket gloves market. Companies could look at targeting institutions in the highly populous APEJ region particularly India, Pakistan, Bangladesh, and Sri Lanka as these countries consider the game to be their de-facto national sport and have committed large sums to it
The modern trade channel is the most popular distribution channel with a revenue share approaching a quarter of the cricket gloves market. The modern trade channel is especially lucrative in APEJ and Europe as both these regions are estimated to be worth more than US$ 4 million by end 2022. The franchised sports segment closely follows the modern trade channel and it represents a sixth of the cricket gloves market by distribution channel. APEJ alone contributes more than a third and it would make sense for companies to attack this region before all others in the cricket gloves market
The direct to customer online channel is currently a niche as it occupies a single-digit revenue share in the cricket gloves market. However, there is a strong possibility that it may become increasingly important in the days ahead as a result of improving Internet connectivity and the flexibility and convenience offered by ecommerce channels. Ecommerce is anticipated to have the maximum impact in the APEJ region allowing the direct to customer online channel to push past US$1.5 million in this dynamic region of the cricket gloves market
The 175mm-190mm segment is the largest in the cricket gloves market by glove size and is projected to remain so. All the regions have a sluggish CAGR with respect to this segment but the greatest possibilities would be in the APEJ region. The 165mm-175mm segment is comparatively smaller and has revenue share of under 13% in the cricket gloves segment
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