Market Size of Baseball Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.10 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Baseball Equipment Market Analysis
The baseball equipment market is projected to register a CAGR of 7.1% during the forecast period.
Baseball is one of the most common sports that has served consumers with entertainment. The participation rate in baseball has significantly grown in the recent past. Moreover, an increasing number of sports clubs and associations has further raised the number of regional-level and state-level tournaments and championships in baseball. For instance, Major League Baseball (MLB) is a professional baseball organization that is composed of 30 teams and conducts numerous baseball tournaments across the world. This, in turn, accelerates the sales of baseball equipment and drives the growth of the market studied.
Further, the rising government initiatives to promote participation in baseball are expected to create lucrative market opportunities during the forecast period. For instance, in early 2020, as a part of its 'Sporting Schools' initiative, the Australian government successfully introduced baseball to several schools in the region. In addition, the use of helmets and gloves has been part of the game rule to ensure the safety and comfort of the players on the field, influencing the demand in the baseball equipment market.
However, during the COVID-19 pandemic, baseball tournaments ceased. This had a negative impact on the growth of the baseball equipment market. For instance, Minor League Baseball's 2020 season was canceled to ensure the safety of participants and the audience. Thus, sporting equipment companies, including baseball equipment providers, witnessed a steep decline in their market shares in the early months of the pandemic.
