Gym Gloves Market Outlook (2022-2032)
The global gym gloves market is likely to reach a valuation of US$ 1,169.4 million in 2022 and is expected to progress at a CAGR of 2.9% to reach US$ 1,550.3 million by the end of 2032.
Sales of gym gloves accounted for nearly a 2% CAGR of the global gym equipment market at the end of 2022.
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Report Attributes
Details
Market Size (2021A)
US$ 1,134.8 million
Estimated Market Value (2022E)
US$ 1,169.4 million
Forecasted Market Value (2032F)
US$ 1,550.3 million
Global Market Growth Rate (2022-2032)
2.9% CAGR
North America Market Share (2022)
40.2%
North America Market Value (2022)
US$ 469.7 million
Europe Market Share (2022)
21.4%
Europe Market Value (2022)
US$ 250.3 million
China Market Share (2022)
4.0%
China Market Value (2022)
US$ 47.3 million
Market Share of Top 3 Countries
48.2%
Key Companies Profiled
- NIKE
- PUMA
- Adidas
- Under Armour
- Decathlon
- Dick’s Sporting Goods
- Implus Corporation
- RIMSports
- Gold’s Gym International Inc
- Fila Korea Co Ltd.
- Cutters Gloves LLC.
Sales Analysis of Gym Gloves Market (2017-2021) Vs. Market Outlook (2022-2032)
The twenty-first century has caused some technological improvements, making our lives immeasurably easier and more comfortable. However, the largest demanding situations can immediately be related to our sedentary lifestyle, mainly to coronary heart disease, obesity, diabetes, and hypertension.
Millions of human beings across the globe have started taking their fitness regime seriously, and exercise at a fitness center or gym is not considered an alternative.
Gym gloves are vital for normal individuals and gym professionals as an essential health accessory. Lifting heavy weights can result in unfortunate accidents to the wrist, palms, or hands.
Gym gloves are an appropriate way to head off this and may be evaluated based on their grip, comfort, quality, padding, and cost. Adults 15+ are estimated to be among 33.8% of the adult population who participate in gym activities annually.
- Short Term (2022 to 2025): With the growing awareness of health and well-being, the participation of individuals in physical activities, specifically gym, has increased over the period.
- Medium Term (2025-2027): Various benefits provided by the gym centers to their regular members or people having annual memberships will motivate the people to exercise regularly and use different gym apparel, including gym gloves.
- Long Term (2028-2032): Long-term benefits of daily exercise are now well known. The different advantages of gym exercising over a long period will also be advantageous to the manufacturers of gym apparel, specifically gloves.
From 2017 to 2021, the global gym gloves market registered a CAGR of 2.8%. Fact.MR, a market research and competitive intelligence provider, reveals that the market will exhibit a growth at 2.9% CAGR between 2022 and 2032.
Read more : How To Choose Good Winter Gloves
Market share analysis of gym gloves based on sales channel and region is provided in the above image. Under the sales channel segment, direct to customer institutional channel sub-segment dominates with 24.2% market share in 2022.
What’s Driving High Demand for Gym Gloves across Regions?
“Rise in the number of gyms in many countries to restructure the growth of the market”
European countries such as Germany and U.K accounted for a revenue of US$ 1.6 billion individually from the gym industry in 2019. The number of gyms is increasing at a faster pace globally. U.K and Germany account for 7,239 and 9,669 gyms, respectively.
Japan recorded a maximum 19.2% participation rate for 25 to 29 years in 2021. The participation rate of gym enthusiasts is 18.5% for the age group of 20-24 years. These gym enthusiasts prefer to work out with all the necessary gym equipment and apparel. Hence, for heavy workout sessions, the utilization of gloves becomes mandatory.
Owing to the number of gym statistics, the number of gyms is poised to rise in the future, attracting several participants. All these factors will increase the sales of gym apparel, including gym gloves, and the market will have steady growth during the forecast period.
“Well-being and fitness awareness increase gym participation rate, which supplement’s the market’s growth”
Spending money on fitness and gym memberships was once considered a luxury but is now part of people’s lifestyles. Rising disposable income has increased the need for gyms. More and more people are hitting the gym these days to combat the side effects of their busy urban lifestyle.
Exercise increases cardiovascular fitness and promotes overall health. Regular exercise also helps reduce anxiety, stress, depression, and other ailments that affect your health. Owing to the rising fitness awareness, the gym participation rate is poised to grow exponentially.
With over 184 million members as of 2020, the global gym sector is worth US$ 96.7 billion. Members get access to more than 205,000 gyms across the world. Boutique studios and inexpensive gyms have maintained their positive performance year after year.
What Do Gym Gloves Manufacturers Need to Watch Out for?
“Degradation of the gloves over a certain period to limit the growth”
Though gloves support the heavy lifting movements in the gym, they also add a certain girth, making the griping harder. Regular usage of the gloves can make them stinky because of the sweat. Hence, proper aftercare is necessary, such as drying the gloves to maintain them.
The materials used for making the gloves may degrade after a certain period. The wear and tear of the gloves during heavy workout activities increases the chances of replacing the product. Hence, there a higher replacement rate of the gloves is observed. All these factors can hinder the growth of the gym gloves market.
Comparative View for the Gym Gloves Market
Gym Gloves Market:
Attributes
Gym Gloves Market
Anticipated CAGR (2022 to 2032)
2.9%
Market Value (2032)
US$ 1169.4 million
Growth Factor
Increasing fitness awareness and rise in number of gyms.
Read more : How To Dispose Contaminated Waste Gloves Blood-soiled Materials
Future Opportunities
Providing durable and cost-effective gym gloves.
Market Trends
Increasing disposable incomes are leading to tilt towards gyms for health and fitness.
Gym Apparel Market:
Attributes
Gym Apparel Market
Anticipated CAGR (2022 to 2032)
6.2%
Market Value (2032)
US$ 210.8 billion
Growth Factor
Growing subscriptions for Gym memberships in urban localities.
Read more : How To Dispose Contaminated Waste Gloves Blood-soiled Materials
Future Opportunities
Growing number of gyms and fitness centers.
Market Trends
Rising health concerns amidst the pandemic are leading people to gyms for fitness.
Gym Accessories Market:
Attributes
Gym Accessories Market
Anticipated CAGR (2022 to 2032)
6.3%
Market Value (2032)
US$ 12 billion
Growth Factor
Pandemic has led to increased fitness awareness.
Read more : How To Dispose Contaminated Waste Gloves Blood-soiled Materials
Future Opportunities
Growth in the number of gym memberships due to fitness concerns.
Market Trends
Rising obesity and other health issues are increasingly pushing individuals towards gyms.
Country-wise Insights
Why does U.S. Accounts for Substantial Demand for in the Gym Gloves Market?
As per Fact.MR analysis shows that the overall percentage of Americans has increased, reaching 27% of the population Americans using at least one health club or gym, which is recorded to be the highest total ever.
In addition, health club memberships in the United States increased by 3.8% over the past two years and reached 66.5 million, in 2020, according to a survey. And despite the challenges related to COVID, the industry has experienced a wide participation rate, an all-time high of 21.8%.
The U.S. has 41,360 health fitness clubs across the country and a total of 64.19 million people in 2020 who follow a healthy lifestyle by attending clubs regularly. Considering the increasing penetration of U.S. citizens in gyms and fitness clubs has fueled the sales of gym gloves in the country has fueled. The gym gloves market in the U.S. is expected to grow at a CAGR of 3.3% in the forecast period.
Why are the Sweden and Norway Gym Gloves Market Expected to Be Highly Lucrative?
The fastest-growing regional market is Sweden, with a high demand for fitness club facilities from the region’s population, both in terms of fitness clubs and fitness club memberships. An increasing interest in health and fitness by Sweden’s citizens and rapid urbanization are augmenting the number of gyms in the country.
In Norway, on the other hand, factors such as increased health clubs and gyms with personal training facilities and the latest fitness equipment have increased health and fitness awareness among millennials. Lifestyle and fitness activities and the increasing prevalence of lifestyle disorders, especially obesity, are driving the growth of the Nordic fitness market.
Of the total population of these two countries, of the country’s 22% of population have its penetration in the gym. Norway has an average income of US$ 496.1 Th from the gym industry. Sweden has approximately 1,702 gyms in the country. All these factors will mount the growth of the gym gloves market in Sweden and Norway.
Category-wise Insights
Which Product Type is expected to become the Leading Contributor during the forecast period?
Fingerless gloves enable your hands to move freely. The individual wearing them is not limited to full-finger gloves that hold your hands in a specific position. These gloves allow choosing where and how the hands can be placed, reducing discomfort and maintaining safe technique.
Subjects wearing full gloves reported that they made more effort to grip objects because they had extra material in their hands. Fingerless gloves eliminate this waste of energy. Fingerless gloves only cover the palms, and the neoprene material does not transfer color to the skin.
The advantages of the fingerless gloves over the full finger gloves will raise demand by a CAGR of 2.9% in the forecast period and make it a leading contributor to the gym gloves market by 2032.
Which Sales Channel is estimated to support market growth in the Gym Gloves Market during the forecast period?
Independent sports outlets and franchised sports outlets record higher sales of gym gloves. There is now the availability of all branded products at independent brand outlets and even franchised sports outlets.
Popular brands like Nike have 1,046 retail stores worldwide in 2022, and Adidas will have 2,184 stores worldwide in 2021. People are always attracted to buying sports apparel, including gym gloves, preferably by first trying and then purchasing them.
The ability to establish an online presence and use e-commerce platforms to sell products is now gaining popularity. Popular brands have also started to show their presence on the e-commerce platforms such as Amazon, Flipkart, e-bay, and others. The sales of gym gloves are poised across all sales channels owing to their popularity.
Competitive Landscape
According to the gym gloves industry analysis, NIKE, PUMA, Adidas, Under Armour, Decathlon, Dick’s Sporting Goods, Implus Corporation, RIMSports, Gold’s Gym International Inc, Fila Korea Co Ltd, Cutters Gloves LLC. are leading market players.
Providing new gloves that are more durable and cost-effective can be one of the key strategies for the manufacturers of the gloves to grow their market.
Due to the presence of many players, the worldwide market is extremely concentrated and competitive. Leading players can use various marketing tactics, including mergers and acquisitions, collaborations, and partnerships.In the late 2020’s, NIKE and Under Armour provided some of the best gym gloves, that is are Nike Elevated Men’s Training Gloves and Men’s UA Weightlifting Gloves respectively.
Fact.MR has provided detailed information about the price points of key manufacturers of gym gloves positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Gym Gloves Market Industry Research
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By Gloves Type:
- Full Fingered Gloves
- Fingerless Gloves
-
By Material Type:
- Leather Gloves
- Neoprene Gloves
- Gel Padded Gloves
- Velcro Gloves
-
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
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By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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