Market Size of Boxing Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Boxing Equipment Market Analysis
The Boxing Equipment Market is projected to register a CAGR of 5.2% during the forecast period, 2022-2027.
Worldwide growth in sports participation due to the increased adoption of a healthy lifestyle is identified as the key market driver in the boxing equipment market. With the increased consciousness about health, people are trying to be more active and participate in sports such as boxing to improve their overall physique and well-being. Therefore, investing in the right boxing equipment that protects an individual against possible injury and hazards is imperative. Additionally, the number of boxing world championships and tournaments is increasing, and the sports industry is promoting boxing as a mainstream sport, which in turn drives the sales of boxing equipment. Further, rising awareness regarding animal welfare and environmental issues is promoting the preference for sustainable and animal cruelty-free products. As a result, key companies are focusing on product innovation and launching sustainable boxing equipment. For instance, in October 2020, Boxing apparel company - Sanabul partnered with Dessert-the Mexico-based company specializing in cactus leather. Through this partnership, Sanabul launched a new range of boxing gloves called Los Cactus, made with cactus leather.
Moreover, increasing grassroots movements by key authorities to encourage participation in boxing is anticipated to drive the demand for boxing equipment. These programs are primarily designed to help young people to grow into professional athletes. For instance, Advanced Apprenticeships in Sporting Excellence (AASE), a government-funded program established and operated by England Boxing's partners SkillsActive identifies and assists young, gifted athletes. Students can receive certifications for their boxing growth through this program's combination of educational possibilities and high-performance boxing instruction.
