How Much Do Baseball Gloves Cost To Make

Baseball Gloves Market Outlook (2023-2033)

The Baseball Gloves market reached a valuation of US$ 4.97 Billion in 2022 FY, and is likely to register a Y-o-Y growth rate of 3.0% in 2023, closing at US$ 5.15 Billion. Furthermore, across the 2023-2033 period of assessment, growth is expected to accelerate at a whopping 3.6% CAGR, reaching US$ 7.34 Billion.

According to Fact.MR, the continual surge in popularity of baseball globally, attributed to its fast pace as well as physical nature attracts many consumers to play the sport, either casually as exercise, or start seriously practicing the sport, in order to turn it into a profession. In addition, governments have increased investment in sports, sports events, and the sports scholarships, which further motivates the younger population of the countries, to take up the sport professionally.

You are viewing: How Much Do Baseball Gloves Cost To Make

Baseball gloves are sports equipment, used by baseball players to increase the quality of the grip on the bat. There are various types of baseball gloves including variety of materials, different types of use, based on web types, etc. Increase in the number of participations in outdoor sports is a major factor that will propel the demand for baseball gloves during the forecast period.

Also, factors such as government initiatives for professional sports, especially the US government’s initiatives for baseball sports are anticipated to fuel the demand of the baseball gloves in the forthcoming years.

Report Attributes

Details

Anticipated Base Year Value (2022)

US$ 4.97 Billion

Expected Market Value (2023)

US$ 5.15 Billion

Projected Forecast Value (2033)

US$ 7.34 Billion

Global Growth Rate (2023-2033)

3.6% CAGR

Expected Growth Rate of North America (2023-2033)

3.5% CAGR

Anticipated Growth Rate of Asia Pacific (2023-2033)

3.4% CAGR

Prominent Baseball Gloves Service Players

• Adidas AG
• Amer Sports Corporation
• Ampac Enterprises Inc.
• Easton Sports Inc.
• Franklin Sports Inc.
• Mizuno Corporation
• Newell Brands, Inc.
• NIKE Inc.
• Under Armour Inc.
• Vinci Pro.

2018-2022 Revenue Analysis of Baseball Gloves Market vs. Growth Outlook 2023-2033

According to Fact.MR’s report, Baseball Gloves demand exhibited a CAGR of over 2.0% from 2018 to 2022.

The growth potential of baseball in North America has a positive impact on sports equipment market, which in turn, increases the revenue share of baseball gloves market. Also, increased consumers’ acceptance for online platforms for shopping, attributed to factors like many price options, and convenience has accelerated the e-commerce retail sales of baseball gloves. This has accelerated the demand for baseball gloves significantly among the people.

Moreover, factors including female participation in sports, as well as a rise in consumer spending on sporting goods are projected to boost the sales of the baseball gloves over the analysis period.

Further, setting up of sports academies with an aim to identify, develop as well as to enhance interest for baseball amongst the younger generation is a major factor that will escalate the market growth in the near future.

Key Market Drivers Influencing Baseball Gloves Industry Expansion

Read more : How To Organize Hats And Gloves

Growing Obsession for Baseball to Propel the Market Growth

Globally, baseball is considered to be one of the fastest growing sports. The game is gaining a significant traction among the millennials, owing to the rising domestic and international baseball leagues. Also, the social media platforms play a vital role in showcasing baseball matches to the people, which are played at different corners of the world.

Such a strong engagement as well as a global reach of people during the matches have helped in the rapid growth of the sport’s popularity. Moreover, the rising fever of baseball leagues which is at peak nowadays, is also aiding the sales the of baseball gloves. These factors are anticipated to stimulate the growth of baseball gloves market during the forecast period.

Rise in Number of Female Participants in College Baseball Augment Market Growth Prospects

The positive outlook for the future of female participation in different sporting games in college, comes from the fact that there is an increased level of interest in baseball. In recent years, an increasing number of women have been playing baseball in college.

One of the reasons that college has become an increasingly popular option for women to play baseball is because there are now more opportunities to do so. In the past, there were few if any college programs that offered baseball scholarships for women.

However, in recent years, a number of colleges and universities have begun to offer such scholarships. This has made it possible for more women to play baseball in colleges. Another reason is the increasing levels of competition in the sport. These factors are expected to boost the market growth in the coming years.

Key Challenges encountered by Baseball Gloves Industry

Availability of Counterfeits of Sports Brands to Restrain the Market Growth

The manufacturers of sports apparels have been massively investing in expanding their R&D workforce with an objective to provide specially designed high-quality products to their end users, which in turn is expected to increase their customer base. Thus, this will ultimately increase the company’s revenue as well as the market growth.

Furthermore, the consumers who intend to purchase genuine sports good are deceived into buying duplicate products, that breaks the consumers’ trust on the promise of the trade mark and associated brand values. In addition, lack of awareness among consumers about fake sporting goods available in the market elevates the malpractice of counterfeiting sporting goods, which in turn decreases the demand of the target product manufactured by the players.

Hence, popularity as well as passion for sports makes the baseball sector a prime target for counterfeits, which is expected to hinder the growth of the baseball gloves market.

Region-wise Analysis

How will North America Perform in the Global Baseball Gloves Industry Landscape?

Rising Popularity of Baseball in the Region to Augment the Market Growth

The Baseball Gloves Market in North America will grow at a CAGR of 3.5% from 2023 to 2033.

According to Fact.MR, North America is the fastest-growing Baseball Gloves market region, accounting for over 48% of the market share in 2022, and is expected to maintain its dominance during the analysis period.

This growth is attributed to the factors such as the growing immigrant population to the U.S. from different regions, which are uplifting the demand for protective gears used in baseball. Moreover, capacity expansion by leading baseball players in the market also proved to be a major factor for the market expansion of baseball gloves in the region, attributed to the tremendous innovation in the evolution of eCommerce in B2C market.

Additionally, the rise in the health-conscious population in the US and other North American countries that are looking to play sports to maintain health and well-being is one of the major factors that will accelerate the regional market growth during the forecast period.

How will the Growth of Baseball Gloves Market Escalate across Asia Pacific?

Increasing Consumer Spending to Enhance the Market Prospects

The Baseball Gloves market in Asia Pacific is projected to become the second most lucrative market, contributing a share of nearly 47% of the global market by 2022. The Asia Pacific Baseball Gloves Market is expected to grow at a CAGR of 3.4% from 2023 to 2033.

Factors such as an increase in consumer spending in the region, coupled with the changing buyer’s perception towards quality over quantity products are projected to fuel the regional market growth in the forthcoming years.

Moreover, other factors including eagerness towards the sport, with the help of broadcastings through social media platforms are anticipated to open lucrative avenues for the market expansion of baseball gloves products in Asia Pacific.

Region-wise Forecast CAGRs for the Baseball Gloves Market

Region CAGR

Read more : How Much Does A Box Of Surgical Gloves Cost

North America

3.5%

Asia Pacific

3.4%

Europe

3.3%

Latin America

3.2%

Middle East & Africa

2.5%

Category-wise Insights

Which Segment to Remain Dominant in the Glove Type Category?

Pitcher Gloves Segment to Enhance Growth Prospects

According to Fact.MR’s data, preference for Pitcher Gloves segment is expected to expand at a CAGR of 3.4% over the forecast period.

In 2022, the pitcher baseball gloves accounted for the largest share and are anticipated to grow at a significant pace in the coming years. The growing demand for a pitcher that has minimal weight with sufficient padding comfort is the major factor that is contributing to segment’s growth.

In addition, availability of different pitcher gloves from specialty as well as online stores to meet the player’s demand is another factor that is expected to escalate the sales of the gloves over the analysis period.

Which is the Most Sought-after Buyer Type Category?

Individual Buyer Segment to Boost the Market’s Growth

According to Fact.MR’s data, preference for Individual Buyer segment is expected to expand at a CAGR of 3.3% over the forecast period.

The growing popularity of baseball among the people is one of the major factors that is projected to create a plethora of opportunities for baseball gloves market to flourish. The baseball gloves provide protection to the players from causing any adverse injury to their wrist and fingers.

Moreover, customizing baseball gloves according to end users’ requirements have created extensive opportunities for the target market to grow. These factors are responsible for the segment’s growth.

The Start-Up Ecosystem: How key Players are opening Frontiers for Future Growth?

Baseball Gloves startup players are adopting various marketing strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to identify the interest of potential buyers and create a larger customer base. For instance,

• Founded in 2017, Steelo Sports is an industry-leading manufacturer of baseball equipment which offers a huge variety of baseball gloves including infielder’s gloves, outfielder’s gloves, pitcher’s gloves, catcher’s mitts and first baseman’s mitts.

Baseball Gloves Market- Competitive Landscape

Prominent players in the Baseball Gloves Industry are taking advantage of the rapidly increasing demand for the Baseball Gloves in various applications. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale vendors.

Some prominent market developments are as follows :

• In July 2022, Rawlings Sporting Goods Company, Inc. acquired the Jack Corbett Hollywood Bases brand from Schutt Sports, Inc. This acquisition expanded the company’s field bases and accessories to its list of officially licensed MLB categories.
• In August 2021, Wilson launched the 2022 A2000 glove line and with it a mix of new game models that update both technologies and aesthetics on the popular Wilson product.

Key Segments Covered in the Baseball Gloves Industry Survey

• By Glove Type :

  • Pitcher’s Baseball Glove
  • Catcher’s Mitt Baseball Glove
  • First Baseman’s Baseball Glove
  • Infielder’s Baseball Glove
  • Outfielder’s Baseball Glove

• By Sales Channel :

  • Independent Sports Outlet
  • Franchised Sports Outlet
  • Modern Trade Channels
  • Direct to Customer Brand Outlet
  • Direct to Customer Online Channel
  • Direct to Customer Institutional Channel
  • Third Party Online Channel

• By Buyer Type :

  • Individual
  • Institutional
  • Promotional

• By Region :

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa (MEA)

Source: https://t-tees.com
Category: HOW