Feb 23, 2018
4 Takeaways from Fact.MR’s Exclusive Forecast on Global Softball Apparel Market
by Team Fact.MR
Rising involvement of women in sporting events has fuelled the presence of amateur-level games such as softball. More number of women are participating in softball gaming events across the globe, which is concurrently boosting the demand for softball apparels. Leading apparel manufacturers in the sports industry are diversifying their businesses to capture the steady demand for softball apparels. Advanced technologies are being incorporated in the production of softball apparels. Modern designs and new fabrics are being introduced in the global softball apparel manufacturing landscape.
Fact.MR’s recent forecast study projects that during the period, 2017-2026, the global softball apparel market will reflect a value CAGR of 2.3%. It has been estimated that by the end of 2026, softball apparels worth over US$ 270 Mn will be sold across the globe. Key insights from the report have been mentioned below to reveal the presumptive scenarios on the expansion of the global softball apparel market through 2026.
4 Forecast Highlights from the Report
- The report estimates that sales of softball shirts will continue to outpace the sales of other softball apparels. In 2017, more than 46% of the global sales of softball apparels reflected the sales of softball shirts. The report also estimates that the demand for softball shirts will gain fastest traction through 2026. By the end of 2026, more than US$ 130 Mn worth of softball shirts are expected to be sold worldwide. The report also estimates that the sales of softball caps & belts will rake in a little over US$ 17 Mn in global revenues.
- North America is poised to represent the largest market for softball apparels. The report estimates that in 2017, more than US$ 100 Mn worth of softball apparels were sold across the US and Canada. Mainstream popularity of baseball in the US will continue to drive the participation in softball events, and fuel the sales of softball apparels in the years to come.
- In 2018 and beyond, individual buying will account for the largest chunk of global softball apparel market revenues. By the end of 2026, more than 65% of softball apparels will be sold to individual buyers across the globe. The report further estimates that institutional buying of softball apparels will bring in revenues worth over US$ 77 Mn by the end of 2026.
- Through 2026, modern trade outlets are likely to represent the largest sales channel for softball apparels. The report also estimates that over the forecast period, third-party online stores will reflect highest value CAGR of 3.3%, unlocking new avenues for sales for domestic manufacturers.
The report has also profiled leading manufacturers of softball apparels, which include Nike, Easton, Rawlings (Jarden), Mizuno, Wilson (Amer Sports), Nokona, Louisville Slugger, SSK, Zett and Under Armour. These companies will remain active in the global market throughout the forecast period, instrument a consistent growth in the global production of softball apparels.