The global Ball Sports Luggage Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global ball sports luggage market is estimated to reach USD 3.88 billion, by 2025, and is expected to grow at a CAGR of 10.4% from 2019 to 2025, according to a new report by Million Insights. The growing inclination towards outdoor sports owing to the healthy fitness benefits is a major factor driving market growth. Additionally, rising popularity of ball games is expected to propel the demand for the product in the next few years.
Key Players:
- Adidas America Inc.
- Amer Sports
- Nike
- PUMA
- Under Armour, Inc.
- Sport System S.r.l
- Belco
- Gala a.s.
- Dunlop Sports
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Growth Drivers:
The growing popularity and increasing participation of teams in professional sports leagues namely, National Football League (NFL), Western Hockey League, Indian Premier League (IPL), and National Basketball Association (NBA) are projected to boost the industry growth. In addition, the sports authorities who organizes these games undertakes various initiatives to raise the awareness regarding health among consumer base. For instance, Fitness & nutrition has undertaken sports initiatives based on the President’s Council on sports to educate people about outdoor games.
Type Outlook:
- Football
- Basketball
- Table Tennis
The ball sports luggage market is bifurcated into football, basketball, table tennis, and others. In 2018, basketball held the highest market share in the overall market. In North America the basketball game is most popular sports. The increasing sports association in the league is driving the growth of the game. For example, National Basketball Association (NBA), has over 30 teams in the league.
Moreover, the product launches under various brand Plastic is projected to increase the market growth. For in 2018, Under Armour, Inc. has introduced duggle bag for basketball which has the capacity of 56L. The football luggage bag is expected to grow at the CAGR of 11.0% over the forecast period. The rising spending on these products is also anticipated to foster the market growth the demand for segment in the next few years.
Regional Outlook:
In 2018, North America led the market with largest share in the overall market. The region is expected to grow at the significant rate of CAGR over the forecasted period. The U.S. is expected to dominate the regional market owing to the high popularity of the football, hockey, and basketball. The universities in the Canada, and the U.S. continuously indulge into sports activities, which in turn is expected to drive the demand for the product.
Asia Pacific region is projected to grow at the highest CAGR of 11.5% during the forecasted period. The growing number of sports events across the countries such as India, China, and Japan are also spurring the growth of the market. For example, in 2017, T2 Asia Pacific was first inaugurated as Table tennis competition, comprising of top ranked 24 players in the world.
Impact of COVID-19 Insights
The COVID-19 pandemic has been negatively impacted the global ball sports luggage market. The coronavirus crisis has caused lockdown across the globe, and restriction on travel. The manufacturers are facing a lack of labor force, and decline in demand for sporting goods such as golf balls, tennis balls are adversely impacting the market growth.
In addition, several major sports events including Olympics, and French Open, and Golf Tours have postponed due to lockdown measures. Moreover, various tennis tournaments like ATP Masters and Wimbledon have been canceled amid pandemic. However, manufacturers in the market have restarted the production of sporting goods from Q2 of 2020. Thus, the market is expected to witness significant growth in the next few years.
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