by The global boxing gloves market offers protective equipment essential for the combat sport of boxing. Boxing gloves come in different weights and sizes suitable for both professional boxing matches and amateur training sessions. Lightweight gloves made of synthetic materials and cotton provide protection without hindering hand movement and allow athletes to practice complex punching techniques. The growing popularity of mixed martial arts and other combat sports has also increased the demand for different types of boxing gloves. Advancements in material science have led to the development of breathable, durable gloves that maintain a firm yet flexible fit during rigorous training routines.
The Global Boxing Gloves Market size is estimated to be valued at US$ 1.53 Bn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031.
Market Key Trends
One of the key trends in the boxing gloves market is the increasing demand for lightweight gloves made of breathable fabrics for training. Athletes prefer gloves that are extremely flexible and allow natural hand movement without restrictions. Leading manufacturers are focusing on innovating glove designs by integrating advance fabric weaves and perforations for better ventilation and weight reduction. The use of synthetic leather and molded EVA foam in glove construction maintains shape and durability while keeping the weight low. Lightweight gloves below 10 ounces are gaining uptake significantly among amateur boxers and popularity at boxing gyms and clubs worldwide.
Key Takeaways
Boxing Gloves Companies operating in the boxing gloves 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. The rising popularity of combat sports and increasing boxing tournaments and competitions globally is fueling the demand for boxing gloves. More professional boxers and amateur athletes are embracing the sport which is propelling the growth of the market. Brands are expanding to untouched regions to tap into new emerging markets for boxing equipment.
Porter’s Analysis
Threat of new entrants: Low cost of manufacturing and operating gloves, but established brands have stronghold over distribution channels and consumer preference.
Bargaining power of buyers: Buyers have moderate to high bargaining power due to availability of options from various brands at different price points and quality.
Bargaining power of suppliers: Suppliers of materials like leather or synthetic have low to moderate bargaining power as raw materials are easily available from different suppliers.
Threat of new substitutes: Low threat as boxing gloves have no close substitutes and have well-defined applications for sports and training.
Competitive rivalry: High as global players compete intensely on quality, features, branding and pricing leading to continuous innovation.
Geographical Regions
North America accounts for the largest share in the global boxing gloves market in terms of value owing to high participation of people in fitness and recreational sports activities.
Asia Pacific is expected to be the fastest growing region during the forecast period driven by increasing youth population and rising disposable incomes in countries like China and India leading to higher spending on sports and fitness gear.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
