The global ball sports luggage market is estimated to reach USD 3.88 billion, by 2025, and is expected to grow at a CAGR of 10.4% from 2019 to 2025, according to a new report by Million Insights. The growing inclination towards outdoor sports owing to the healthy fitness benefits is a major factor driving market growth. Additionally, rising popularity of ball games is expected to propel the demand for the product in the next few years.
The growing popularity and increasing participation of teams in professional sports leagues namely, National Football League (NFL), Western Hockey League, Indian Premier League (IPL), and National Basketball Association (NBA) are projected to boost the industry growth. In addition, the sports authorities who organizes these games undertakes various initiatives to raise the awareness regarding health among consumer base. For instance, Fitness & nutrition has undertaken sports initiatives based on the President’s Council on sports to educate people about outdoor games.
In 2018, the basketball segment dominated the market; whereas the football products are anticipated grow at a fastest CAGR during the forecasted period. Asia Pacific region is anticipated to grow at the highest CAGR of over 11.0% during the forecasted period. The growing number of sports events across the nation such as India, China, and Japan are also spurring the growth of the market. For example, in 2017, T2 Asia Pacific event was first inaugurated as Table tennis competition, comprising of top ranked 24 players in the world.
Leading players in the ball sports luggage market include Nike, Inc., Adidas, Inc., Mikasa Sports, Amer Sports, PUMA, Dunlop sports, and USA Belco.
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Further key findings from the report suggest:
• North America region has dominated the market with largest share in the overall market.
• In 2018, basketball attributed to the highest market share, and is expected to grow significantly in the forecasted period. Football segment is estimated to grow at the fastest CAGR over the forecasted period.
• Market is heavily competitive, top players in the market are Nike, Inc., Adidas America, Inc., Under Armour, Inc., Amer Sports, PUMA, Gala a.s. and USA Belco.
Million Insights has segmented the global ball sports luggage market based on type, and region:
Ball Sports Luggage Type Outlook (Revenue, USD Million, 2015 - 2025)
• Table Tennis
Ball Sports Luggage Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa