Boxing gloves are a crucial piece of equipment worn by boxers during training and competition to protect their hands when punching opponents or heavy punching bags. Boxing gloves come in different weights and sizes depending on the level of the boxer ranging from 8 ounces to 16 ounces. They provide adequate padding between the hand and target to avoid potential injuries. The growing popularity of amateur boxing across the globe due to rising health and fitness awareness is expected to fuel demand for boxing gloves during the forecast period.

The Global Boxing Gloves Market is estimated to be valued at US$ 2.24 Bn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the  Boxing Gloves Market Growth are Everlast Worldwide Inc., Reebok International Ltd., Adidas AG, Title Boxing LLC, Fairtex, Twins Special Co. Ltd., Sports Direct International plc., Bhalla International, RK Mahajan, Hind Sports, Hans Raj Mahajan Worldwide, Rattan Brothers, RDX Sports, Wavar, and fixfoxapparel. Key players are focusing on sponsorship of boxing tournaments and events to increase brand visibility.

The rising health consciousness among people and growing participation in amateur boxing is expected to drive the demand for boxing gloves during the forecast period. According to World Boxing Organization, the number of amateur boxers registered worldwide grew by over 15% between 2020 to 2022.

Continuous technological advancements in gloves such as use of breathable fabrics, ergonomic designs, and lightweight padding have made boxing more popular and comfortable. Smart gloves integrated with sensors to monitor punch force and other parameters are gaining traction in professional boxing circuits.

Market Trends

The rising popularity of Everlast and Lonsdale brands for offering affordable yet high-quality boxing gloves is a major trend witnessed in the market. These brands are targeting amateur and low budget boxers.

Customization and personalization are emerging as another key trend where boxers look for gloves in customized colors and designs reflecting their nickname or country. Players are focusing on providing customization options to boxing gloves through their websites.

Market Opportunities

The growing female participation in boxing presents a major opportunity for boxing gloves manufacturers to launch lighter gloves targeted towards women boxers.

Availability of boxing gloves through multiple online and offline retail channels especially in developing countries can help players expand their reach and scale up market share. Integrating AR and VR virtual try-on features on e-commerce platforms can boost online sales of gloves.

Impact of COVID-19 on Boxing Gloves Market
The COVID-19 pandemic has significantly impacted the growth of the boxing gloves market. During the peak of lockdowns in 2020, all boxing clubs and gyms were shut which led to a steep decline in demand for boxing gloves. Manufacturing and transportation were also hampered leading to disruptions in the supply chain. Many manufacturers suffered losses during this period with revenues dropping over 30-40% year on year.

However, with lockdowns being gradually lifted from 2021, the market is witnessing signs of recovery. More people have now taken an interest in boxing and combat sports for home workouts and exercise during the pandemic. Solo boxing sessions using gloves have become popular on social media platforms. Manufacturers have responded positively by expanding their range of lightweight training gloves suitable for home use. They have also increased their focus on online sales channels. It is expected that the demand lost during the peak of lockdowns will be regained in the coming years as more centers open up. Players need to continue innovation in products, strengthen online presence and focus on emerging markets to sustain growth in the post-COVID scenario.

North America leads in Boxing Gloves Market in terms of value
North America currently dominates the global boxing gloves market holding over 35% of the total market value. The USA is the largest individual country market for boxing gloves. Some of the key factors for North America's prominence include a well-established boxing culture, presence of leading global brands, high per capita incomes and expenditure on combat sports and fitness gear. The regional market is driven by growing popularity of combat sports like boxing among the general public as well as volume sales through sporting goods retail chains.

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