The global kickboxing equipment market size is expected to register revenue of USD 240.5 Million from 2019 to 2025, according to a new report by Million Insights. It is expected to grow with a CAGR of 3.6% in the upcoming years. This growth can be attributed to rising health awareness among people coupled with the emergence of sports activities like kickboxing across the globe. Moreover, adoption of kickboxing activity in fitness centers, health clubs, and gymnasiums has paved the way for its popularity thereby boosting the demand for utility products like punching bags and gloves.
Benefits obtained from kickboxing are muscle toning and improvement in the physic. It also increases the hand-eye coordination and enhances the procedure of burning of calories. This helps in reducing the chances of cardiovascular diseases. Thus, numbers of fitness enthusiasts are getting inclined towards the kickboxing sports activity.
The segment of protective gear is anticipated to register the highest CAGR of 4.2% from 2019 to 2025. This can be attributed to their property to provide maximum protection to critical human organs while playing such sports activities. They are launching many tracking devices like smart-watches and wristbands to track real-time activity data about the punch type, speed, and power of the players. The product segment of gloves held the largest share of 40.9% across the global market in 2018.
Asia Pacific held the largest share exceeding 40% in the global market owing to rising influence of kickboxing activity across countries like China, Japan, India, South Korea, Australia, New Zealand, and Singapore. The regional markets like North America and Europe generated revenue of USD 100 million. This growth can be attributed to increasing number of kickboxing competitions and events across these regions.
Key players in the kick boxing equipment market are Last Round Equipment; Adidas AG; Everlast Worldwide, Inc.; Budoland; Twins Special Co., Ltd; and Century LLC. They are engaged in innovation, product development and by implementing several marketing strategies like acquiring partnerships with the distributors.
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Further key findings from the report suggest:
• The gloves product segment held the largest share of 40.9% segment across the global market in 2018. It is expected to continue its dominance during the forecasted period owing to its usage for self-protection.
• Asia Pacific held the largest share exceeding 40% across the global market in 2018 and is anticipated to register fastest growth in the upcoming years.
• North America and Europe together generated the revenue of USD 100 million.
Million Insights has segmented the global kickboxing equipment market on the basis of product, application, distribution channel and region:
Kickboxing Equipment Product Outlook (Revenue, USD Million, 2015 - 2025)
• Protective Gear
• Punching Bags
• Boxing Pads
Kickboxing Equipment Application Outlook (Revenue, USD Million, 2015 - 2025)
Kickboxing Equipment Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Kickboxing Equipment Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa