The global Baseball Equipment 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 baseball equipment market size is projected to touch USD 19.2 billion by the end of 2025, as per the report released by Million Insights. It is estimated to grow with a CAGR of 3.3% from 2019 to 2025. Baseball is earning widespread popularity, especially among youngsters and adults due to extensive media coverage and the introduction of several leagues and tournaments of baseball across the globe. Such factors are projected to bode well for the market growth in the forecast period.
Key Players:
- Nike
- Adidas
- Newell Brands Inc.
- Amer Sports
- Mizuno Corporation
- Zett Corporation
- Under Armour Inc.
- Schutt Sports Inc.
- Phoenix Bat Company
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Growth Drivers:
On the field, players are directed to use all the safety accessories such as gloves, helmets, and others as they are part of rules and help them in ensuring safety. Other factors such as the preference for general fitness and the evolving trend of a healthy lifestyle are also projected to boost the market growth. Manufacturers are engaged in continuous innovation of various gears and equipment for baseball, which, in turn, is bolstering the demand for the product.
Product Outlook:
- Bat
- Helmet
- Gloves
- Equipment Bag
- Accessories
Bat is expected to ascend with a CAGR of 3.3% over the forecast period. The growing use of different materials such as aluminum, wood, hybrid, and composite depending on baseball bats to offer excellent performance on different pitches. This factor is projected to augment the growth of the bat segment in the coming years. The helmet is predicted to grow at a CAGR of 4.0% over the forecast period. Factors such as increasing injuries in various ball games and preferences for safety planning are driving the demand for the product.
Distribution Channel Outlook:
- Supermarkets/Hypermarkets
- Convenience Stores
- Online
Supermarkets/Hypermarkets are expected to grow at a CAGR of 3.0% over the estimated duration. Easy accessibility of a wide variety of equipment along with options to verify the product before making a purchase decision is driving the growth of the segment. Moreover, customers can select products that fit their requirements and offer excellent performance.
The online distribution channel is projected to register a CAGR of 4.0% over the forecast period. The growing penetration of e-commerce retail and increasing internet users are boosting the growth of online sales. Further, the online segment offers home delivery, ease in shopping, a wide variety of brands at one place, and lucrative discounts to customers.
Regional Insights:
North America led the baseball equipment market occupying 37.3% of the market share in 2018. Various initiatives are undertaken by the U.S. government to bolster investments in upcoming leagues and tournaments to encourage more participation in these leagues. This initiative is projected to support the market growth of baseball equipment.
Asia Pacific is projected to ascend with a CAGR of 3.5% from 2019 to 2025. Factors such as the growing preference for western sports and government support to increase investment in baseball in nations such as South Korea, Japan, and China, are projected to accelerate the market growth. Moreover, changing the lifestyle of middle-class people and increasing per capita income of developing nations such as Thailand, China and India are anticipated to bode well for the market growth in the coming years.
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