Gym Gloves Market predicts it to grow to a value around US$ 1.2 billion by 2022 end

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Dublin 2, Ireland, 2018-Feb-06 — /EPR Network/ — A sedentary lifestyle is one of the biggest challenges facing modern day society as this can cause a number of health issues such as obesity, hypertension, and diabetes. People have become well-aware of this and begun to take their health a lot more seriously than they did in the past.  Exercising at the gym is no longer considered an option but is considered as essential as going to work or sleeping.  To avoid debilitating injuries to the wrist, palm or hands, gym gloves are needed by both beginners as well as experienced fitness professionals. The growth of the gym gloves market is directly linked to the health and wellness industry and gym gloves are a key fitness accessory. The report, compiled by Fact.MR, provides in-depth analysis of the global gym gloves market for the forecast period 2017-2022, and offers key insights about future market direction.

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The next section offers an overview of the gym gloves market. This comprises an introduction to the market, along with a standard definition of the product – gym gloves. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.

The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.

In order to offer readers with up-to-date information about the latest advancements in the global gym gloves market, the report provides updates about market opportunities, which can benefit leading manufacturers of gym gloves. With continuous evolution of the sports industry, keeping a record of latest developments and trends is fundamental for gym gloves manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.

4 Key Insights of Gym Gloves Market

1.  Velcro is the most popular material type and it accounts for a market share of approx. a third of the gym gloves market in 2017. The Velcro market is likely to be grow to more than US$ 400 million by the end of the forecast period, making it imperative for key stakeholders in the gym gloves market to manufacture Velcro gym gloves. The neoprene segment closely follows Velcro and it represents a revenue share of a little over a quarter of the gym gloves market. Even though North America and Europe are the largest regional contributors to the neoprene gym gloves market, companies may wish to target Japan as it has the highest CAGR over the course of the forecast period

2.  Leather gloves have a revenue share of slightly under a quarter of the gym gloves market and they are predicted to remain steady at this position. The main restraint for the growth of the leather segment of the gym gloves market is the comparatively higher price of leather vis-à-vis other material types. North America is the only region that is estimated to push past a value of US$ 100 million by end 2022, making it well-worth the while of all companies in the gym gloves market

3. The third party online channel is currently a niche segment of the gym gloves market in terms of distribution channels. However, it is highly likely that this segment will become extremely important in the days ahead as improving Internet connectivity will allow customers in both developed and emerging markets to purchase gym gloves as and when they choose. The APEJ region can be a potential goldmine for third part online channel distribution in the gym gloves market as millions of people are coming online in this region for the first time via their mobile devices

4.  The modern trade channel segment comprises a quarter of the revenue share by distribution channel in the gym gloves market and is projected to grow to more than US$ 285 million by end 2022. North America alone consists of approx. 2/5th revenue share of the modern trade channels market and companies are advised to take this into consideration while devising their distribution strategies

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Fingerless Gloves More Popular in the Gym Gloves Market

Fingerless gloves account for a revenue share of more than 3/5th of the gym gloves market by glove type and they are anticipated to remain popular throughout the course of the forecast period. The fingerless glove segment is likely to be worth approx. US$ 740 million by end 2022 making it imperative for key stakeholders in the gym gloves market to be present in this segment. Full fingered gloves comprise the balance market share and are estimated to lose their popularity going forward in favor of fingerless gloves. A CAGR that is even more sluggish than fingerless gloves in the gym gloves market is testament to this.

Similar Opportunity in Independent Sports and Franchised Sports Outlet

A similar market opportunity exists in the independent sports outlet and the franchised sports outlet in the gym gloves market and companies are advised to plan their distribution strategies accordingly. For both independent and franchised sports outlets, North America has the largest regional share and it represents roughly 40% of the gym gloves market. The North America independent sports outlet market is poised to grow to more than US$ 65 million by the end of the study and key stakeholders could like at targeting this distribution channel.

Competition Dashboard

The Fact.MR report on the gym gloves market has profiled some of the prominent companies actively involved in the gym gloves market. These companies include NIKE, PUMA, adidas, Under Armour, Decathlon, Dick’s Sporting Goods, Implus Corporation, RIMSports, Gold’s Gym International Inc, Fila Korea Co Ltd., and Cutters Gloves LLC.

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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized  Sports market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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