Bats and Gloves to Collectively Yield US$ 1 Bn in the Global Baseball Equipment Market, Says Fact.MR
Published : 11 Feb 2022 Industry: Sports
A recently revamped study published by Fact.MR expects the baseball equipment market to flourish at a CAGR of 6.1% to reach US$ 1,898.19 Mn by the end of the 2022-2032 forecast period. Increased participation in baseball events by netizens worldwide is heightening growth prospects for baseball equipment in recent years.
From 2017 to 2021, sales of baseball equipment registered a CAGR of 5%. Prospects dwindled significantly during the worst of the coronavirus pandemic, especially in 2020. Imposition of a global lockdown to prevent further infection spread led to cancellation of all major baseball events, along with restrictions on outdoor sporting activity. This led to declining footfalls in stores to purchase baseball equipment.
Eventually, as 2021 arrived, speeding vaccination drives and reducing infection intensity permitted a resumption of all sporting activity. This led to a restoration of demand for baseball equipment. Future growth prospects are reliant on manufacturers seeking to forge sponsorship contracts with leading agencies in order to widen their product outreach.
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.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the baseball equipment market, presenting historical demand data (2017-2021) and forecast statistics from 2022 to 2032.
The study divulges essential insights on the market based on product type (bat, helmets, equipment bag, gloves and accessories) 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 and third-party online channel) and buyer type (individual, institutional and promotional) across six regions (North America, Latin America, Europe, Japan, APEJ and MEA)
About the Sports Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Sports team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analyzed the sports market across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
For more information, refer to our market research report or contact the PR author.
Consultant – Sports Division