According to a newly updated Fact.MR analysis, the baseball equipment market will grow at a CAGR of 6.1%, reaching US$ 1,898.19 Mn by the end of the 2022-2032 forecast period. In recent years, increased involvement in baseball tournaments by netizens worldwide has boosted growth possibilities for baseball equipment.
Baseball equipment sales increased at a 5% CAGR between 2017 and 2021. During the worst of the coronavirus epidemic, especially in 2020, prospects fell considerably. The imposition of a global lockdown to prevent the spread of the illness resulted in the postponement of all big baseball games, as well as limits on outdoor athletic activities. This resulted in fewer people shopping for baseball equipment in retailers.
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As 2021 approached, faster immunisation programmes and reduced illness intensity allowed for the restoration of full sporting activities. This resulted in a resurgence in demand for baseball equipment. Future growth potential are dependent on manufacturers negotiating sponsorship contracts with prominent agencies in order to broaden the reach of their products.
Key Takeaways from the Market Study
· By product type, baseball bats and gloves to collectively yield US$ 1,000 Mn in value
· Modern trade channels to experience a CAGR of 3% with regard to baseball equipment sales
· By buyer type, individual baseball equipment to account for 3 out of 5 sales
· APEJ to experience noteworthy growth in baseball equipment sales, growing at a 7% CAGR
· North America to be the dominant market, accumulating a market share of 66%
· Global market for baseball equipment to be valued at US$ 1,050 Mn by 2022-end
“Integration of top-notch technologies has helped players hit bigger hits and has given a different perspective to the viewers; burgeoning the popularity of the game across the globe”- comments a Fact.MR analyst.
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.
- In Sept 2021, Easton launched the new ADV Hype Bat in fresh 2022 Lineup, the full lineup of 2022 bats in the BBCOR, USSSA and USA designations feature the ADV Hype, ADV 360, Maxum Ultra and Alpha ALX. Each model takes a distinct approach to materials, constructions and technologies to provide specific advantages to hitters.
- In Oct 2021, Mizuno launched a new B22 Hot Metal BBCOR baseball bat. Mizuno has a top-notch reputation for making high-performance sports equipment using the latest technology and precise process to get everything just right.
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Key Segments Covered in the Baseball Equipment Industry Report
By Product Type
o Baseball Bats
o Baseball Helmets
o Baseball Equipment Bag
o Baseball Gloves
o Baseball Accessories
By Sales Channel
o Baseball Equipment Sales via Independent Sports Outlets
o Baseball Equipment Sales via Franchised Sports Outlets
o Baseball Equipment Sales via Modern Trade Channels
o Baseball Equipment Sales via Direct to Customer Brand Outlets
o Baseball Equipment Sales via Direct to Customer Online Channels
o Baseball Equipment Sales via Direct to Customer Institutional Channels
o Baseball Equipment Sales via Third Party Online Channels
By Buyer Type
o Individual Baseball Equipment
o Institutional Baseball Equipment
o Promotional Baseball Equipment
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Key Baseball Equipment Providers: Nike Inc., Adidas AG, Newell Brands, Amer Sports Oyji, Mizuno Corporation, ZETT Corporation, Under Armour Inc., Schutt Sports, Phoenix Bats, Easton (BRG Sports), Rawlings Sporting Goods, Nocona Athletic Goods Company, SSK
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