The global baseball equipment market size is projected to touch USD 19.2 billion by the end of 2025, as per the report released by Million Insights. It is estimated to grow with a CAGR of 3.3% from 2019 to 2025. Baseball is earning widespread popularity, especially among youngsters and adults due to extensive media coverage and the introduction of several leagues and tournaments of baseball across the globe. Such factors are projected to bode well for the market growth in the forecast period.
The government has taken various initiatives to promote the involvement of customers in baseball, thereby, supplementing the market growth for baseball equipment. For example, the U.S. government in 2019 introduced a four-day athlete development program for both off and on-field athletes to offer enhanced guidance to the contestants.
Manufacturers are increasing their investments in the development of new helmets to decrease the occurrence of head injuries during the game. They are focusing on developing helmets embedded with features, such as excellent impact-absorbing, to offer additional safety to the players. For example, the 2ND Skull, in 2019, introduced an additional headgear to reduce the occurrence of any head injuries by 50%.
The offline channel is led by supermarkets and hypermarkets, ascending with a CAGR of 3.0% over the forecast period. Factors such as easy accessibility, a wide variety of equipment and products verification before purchase are projected to fuel the segment growth. On the other hand, the online distribution channel is anticipated to witness a CAGR of 4.0% from 2019 to 2025 owing to the growing penetration of internet and an increasing number of smartphone users. These customers prefer convenience in shopping and home delivery of the product.
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Further key findings from the report suggest:
• Helmet is projected to ascend with a CAGR of 4.0% over the forecast period due to the growing preference for safety equipment to prevent any head injuries.
• Bat led the baseball equipment market in 2018 owing to the introduction of products with trendy and new designs according to the preferences and requirements of customers.
• Supermarkets/Hypermarkets led the market in 2018 owing to the growing sale of different material baseball bats that can be use across different baseball pitches.
• North America held the largest share in revenue occupying 37.3% in 2018. The region is projected to continue its dominance from 2019 to 2025 due to the growing inclination for outdoor games and their importance for a healthy life in Canada and the U.S.
• Asia Pacific is projected to register a CAGR of 3.5% over the estimated period.
• Leading players in this industry include Under Zett Corporation; Armour Inc.; Adidas; Phoenix Bat Company; Amer Sports; Nike; Mizuno Corporation; YONEX Co. Ltd.; Schutt Sports Inc.; and Newell Brands Inc.
Million Insights has segmented the global baseball equipment market on the basis of product, distribution channel, and region:
Baseball Equipment Product Outlook (Revenue, USD Million, 2015 - 2025)
• Equipment Bag
Baseball Equipment Distribution Channel (Revenue, USD Million, 2015 - 2025)
• Convenience Stores
Baseball Equipment Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa