The global kickboxing equipment market size is expected to register revenue of USD 240.5 Million from 2019 to 2025, according to a new report by Million Insights. It is expected to grow with a CAGR of 3.6% in the upcoming years. This growth can be attributed to rising health awareness among people coupled with the emergence of sports activities like kickboxing across the globe. Moreover, adoption of kickboxing activity in fitness centers, health clubs, and gymnasiums has paved the way for its popularity thereby boosting the demand for utility products like punching bags and gloves.
Top Companies:
The market includes key players such as Last Round Equipment; Adidas AG; Everlast Worldwide, Inc.; Budoland; Twins Special Co., Ltd; Century LLC; Hayabusa Fightwear Inc.; WESING SPORTS; Hykso; and SMAI. These manufacturers are continuously engaged in product development and innovation for gaining a competitive advantage over other players.
They are also expanding their reach across the globe by implementing several strategies like acquiring partnerships with the distributors. For example, UFC collaborated with CSG Taiwan Ltd. to launch a product named UFC Force Tracker. This product is provided with features like a Bluetooth device that tracks the endurance, speed, and power of the kickboxers.
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Growth Drivers:
The activity of kickboxing helps in developing confidence, self-esteem and helps in relieving mental stress. Since the last few years, the participation of women in such activities has increased manifolds across the globe. They also hold a significant share in the number of participants in kickboxing and other related sports activities. Thus, the majority of institutions have started organizing weight classes, especially for women participants. For example, Glory launched the super-bantamweight contest in the Grand Prix Tournament. This increase in weight category exercises is projected to drive the market demand for kick boxing equipment in the upcoming years.
Several tracking devices like smartwatches and wristbands are gaining popularity in the global market. This can be associated with their usage for collecting data on power, punch type, and speed of the players. For example, Hykso had launched a wearable device in 2016 that helped in tracking type, velocity, and the total number of punches. As the real-time results of punches are available in smartphone applications and other devices, players can track their daily progress. Thus, the market for such products is anticipated to boost in the upcoming years.
Product Outlook:
- Gloves
- Protective Gear
- Punching Bags
- Boxing Pads
The segment of protective gear is anticipated to register the highest CAGR of 4.2% from 2019 to 2025. This can be attributed to their property to provide maximum protection to critical human organs while playing such sports activities. They are launching many tracking devices like smart-watches and wristbands to track real-time activity data about the punch type, speed, and power of the players. The product segment of gloves held the largest share of 40.9% across the global market in 2018.
Regional Outlook:
In 2018, Asia Pacific held the largest share exceeding 40% of the global market. Many countries like China, Japan, India, South Korea, Australia, New Zealand, Thailand, Singapore, and Cambodia are considered as the major markets for these products. Moreover, promotional activities being undertaken by leading manufacturers to boost the sales of their products are attracting several fitness freaks across this region. Moreover, many kickboxing championships like Glory, K-1, Shoot Boxing, Kunlun Fight, and Wu Lin Feng are expected to impact positively on the market growth in the upcoming years.
Other regional markets such as Europe and North America are anticipated to generate revenue of USD 100 million during the forecasted years, 2019 to 2025. Moreover, the rising number of kickboxing competitions and events is projected to boost the market demand for such equipment across these regions.
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