Boxing Gloves Market: Global Material Analysis and Forecast (2024-2030)

Boxing Gloves Market size was valued at USD 1.32 Bn. in 2023 and the total Boxing Gloves revenue is expected to grow by 5.5 % from 2024 to 2030, reaching nearly USD 1.93 Bn.
Boxing Gloves Market Overview:
Boxing gloves are cushioned gloves made to wear on the hands of boxers during matches and practices. Boxing gloves are made to protect a fighter's hands during a fight. Whereas these gloves reduce superficial facial injuries, they allow users to land harder punches to the head, increasing the opponent's risk of brain damage. The number of boxing tournaments held around the world has increased significantly in recent years, resulting in increased participation in this sport. This has resulted in an increase in the number of training clubs. Boxing is becoming increasingly popular as a sport, with the AIBA International Boxing Association attempting to accommodate women's boxing events into the Olympic program.

In addition, several new boxing tournaments have been registered in the market. The International Championship Boxing League (ICBL) debuted as the world's first competitive boxing league. Moreover, the Boxing Federation of India intends to launch a domestic boxing league in order to increase the sport's popularity and accelerate sales of boxing equipment such as boxing gloves. All these aspects are expected to boost the demand for the boxing gloves market.

The boxing gloves market demand is expected to rise significantly around the world. Increase in the participation of women and children in boxing as a recreational and fitness activity. Doctors and healthcare advisors also advise people to exercise and participate in sports. MMR analyzed, 35% of the population was actively participating in sports in 2023, and that figure is expected to rise to 55% by 2030.To know about the Research Methodology :- Request Free Sample Report
Boxing Gloves Market Dynamics:
Increased participation in sports by a new generation

The millennial generation places a high value on health and prefers to live a healthy lifestyle. Youth, in addition to adhering to a strict diet and a rigorous exercise regimen, engage in active sports participation, particularly in sports such as boxing. Sports have numerous advantages, such as promoting health and well-being, boosting confidence, and aiding in the maintenance of mental health. According to the European Union's 2023 report on Youth Sport Participation, of the 18 major sports in Europe, 75% experienced active participation by females aged 16 to 18, with boxing showing the highest increase of 86%. While there was 79% active participation from males aged 16 to 18, showed an 11% increase. As a result, an increase in youth sports participation will result in an increase in demand for the boxing gloves market.

Boxing world championships and tournaments are increasing, and the sports Material is promoting boxing as a mainstream sport, which drives the boxing gloves market. Moreover, growing concern about animal welfare and environmental issues is encouraging people to prefer sustainable and cruelty-free products. As a result, key companies are focusing on product innovation and the launch of environmentally friendly boxing gloves. For example, Boxing apparel company Sanabul partnered with Dessert, a Mexico-based company specializing in cactus leather, in October 2020. Through this collaboration, Sanabul introduced a new line of boxing gloves called Los Cactus, which are made of cactus leather.

Moreover, rising grassroots movements by key authorities to encourage boxing participation are expected to drive demand for the boxing gloves market. These programs are primarily intended to assist young people in developing into professional athletes. Advanced Apprenticeships in Sporting Excellence (AASE), for instance, is a government-funded program established and run by England Boxing's partners SkillsActive that identifies and supports young, gifted athletes. Students can earn boxing certifications through this program's combination of educational opportunities and high-performance boxing instruction.

Growing Number of Female Boxers

Women's participation in various sports, including boxing, has increased in recent years, creating lucrative market opportunities for sport equipment brands. As a result, the gender gap among players in global tournaments and championships has narrowed in recent years. For example, the Olympic Agenda 2020 mandated that the International Olympic Committee works with various International Federations to achieve at least 50% female participation in Olympic Games. Previously, boxing was a male-dominated sport.

However, the trend has shifted over the last decade as a result of the impact of women's empowerment and changing cultural beliefs, particularly in developing economies. The International Boxing Association (AIBA), for example, has increased the number of women's boxing categories in the Tokyo 2020 Olympic Games. The Tokyo 2020 games included at least five different weight categories for women's boxing. The growing acceptance of boxing as a mainstream sport by women indicates a positive trend that is expected to benefit the boxing gloves market during the forecast period.

Boxing Gloves Market Restraints

Boxing gloves cause more brain damage, which is hampering the market

Punching with boxing gloves, contrary to popular belief, does not reduce the risk of brain damage. In fact, it can increase the chances while only lowering the risk of cuts and eye injuries. Boxing gloves, while reducing or spreading the force applied, cause the same damage as punching bare-knuckled. These factors are adversely affecting the boxing gloves market growth.

Boxing Gloves Market Opportunity

Recent advances in quality boosting the market

The most recent innovative product launches and technological advancements are expected to play an important role in the future growth of the global boxing gloves market. T3 Boxing Glove and Project T3D are two of Hayabusa Fightwear's most innovative products. The T3 Boxing glove is widely regarded as the most advanced and protective boxing glove available. It provides superior wrist support and two interlocking straps for a custom fit for users. Its multilayered technology foam composition protects the knuckles, and the ultra-soft temperature-regulating lining aids in temperature regulation to keep players’ hands cool.

Moreover, the company provides a money-back guarantee to buyers with no questions asked, which attracts customers and builds brand value in their minds. The T3D Project is a new addition to Hayabusa's portfolio. It is well-known for its world-class protection feature, which is provided by the company's patented Dual-X Closure System technology. These key innovations are expected to help the company generate more revenue by providing boxing gloves with unique features and high quality.

Modern technology even allows for accurate determination of how protective the boxing gloves are, with some products eliminating the traditional weight method and creating something truly protective. These advanced boxing gloves allow boxers to monitor their boxing sessions by keeping track of the punches thrown as well as the frequency and intensity of punches while eliminating any other motions (skipping rope, blocks and parries, kicks, and even strength and conditioning work like battle ropes). Because most of these trackers display data in real-time on the phone screen, training progress can be tracked.

Directly monitoring performance during a training session has only advantages. Recent advancements in boxing gloves and quality are attracting both veteran boxers and newcomers to the sport. As a result, the boxing gloves market is growing and will continue to do so in the forecast period.
Boxing Gloves Market Segment Analysis:
Based on Size, Boxing gloves are available in three sizes: 4 to 10 oz, 12 to 18 oz, and Above 18 oz. The 12 to 18 oz segment dominated the boxing gloves market in 2023 and is expected to do so again during the forecast period. The 12 to 18 oz segment accounted for 63.5% of the boxing glove market share in 2023. This is because demand for the 12 oz to 18 oz sizes has increased among consumers weighing 120 to 180 pounds.

The 12-ounce gloves are the lightest in this category and are typically worn by children or those with small hands. The 14-ounce gloves are a little heavier and are frequently used by beginners in boxing. The 16-ounce gloves are the most common size for adult boxers. The 18-ounce gloves are the heaviest and are typically worn by people with large hands or who want extra hand protection.Based on the Type, the type segment is subdivided into training gloves, bag gloves, and others. The training gloves segment is expected to maintain its dominance. This dominance is attributed to an increase in the number of people practicing boxing in gyms and fitness centers. Boxers use training gloves on a regular basis all over the world, which has significantly increased the demand for training gloves. Training gloves are designed to provide the best combination of performance and protection. Training gloves typically have a hook-and-loop closure to make them easy to put on and take off. Boxing gloves are used to protect both the boxer and the opponent. The training gloves also include a mechanism for calculating how many rounds a person has completed.

Based on the Buyers, The institutional segment dominated the global boxing gloves market in 2023, depending on the buyer. The major two factors influencing the boxing gloves market for institutional buyers are the rapid growth of the fitness and boxing Material, the increasing popularity of boxing as a workout and recreation activity, the growing interest in boxing as a sport, and the increasing availability of boxing gloves on the market. Because of these factors, institutional buyers such as gyms, boxing clubs, and sports retailers have increased their demand for boxing gloves. As a result, the boxing glove market has exploded in recent years. Furthermore, the growing popularity of various combat sports in which boxing gloves are used is driving up demand for boxing gloves. As a result, there is a high demand for the boxing gloves market.Based on the Material, Material is further classified into four types: PU Leather, Leather, Superskin, and Others. In 2023, PU leather was the largest segment. PU leather is a synthetic material that is used in boxing gloves. Because it is easier to manufacture, PU leather is less expensive than genuine leather. PU does not absorb water, it is simple to clean. The Vegan is 100% PU leather. PU leather comes in a wide range of colors and styles. PU leather, unlike leather, does not dry out over time.
Boxing Gloves Market Regional Insights:
North America dominated the market. The majority of the population in the region recognizes the benefits of leading a healthy lifestyle. This has motivated them to participate in outdoor and indoor sports such as boxing. Moreover, obesity has recently emerged as a major concern throughout the region, influencing consumers to adopt active lifestyles that aid in their continued fitness and wellness. Boxing has grown in popularity as a fitness sport in the United States over the years. According to the Outdoor Foundation's annual publication, approximately 5,240 million people in the United States will participate in boxing for fitness in 2023.

As a result of the sport's growing popularity, the region is seeing the ongoing introduction of state-level and national-level boxing tournaments and championships. USA Boxing, for example, is the national governing body that promotes and grows Olympic-style amateur boxing in the United States, allowing athletes and coaches to achieve sustained competitive excellence for international games such as the Olympics, The IBA World Boxing Championships, and The Commonwealth Games, among others. These all aspects fueled the boxing gloves market.
Boxing Gloves Market Scope: Inquiry Before Buying



Boxing Gloves Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 1.32 Bn.


Forecast Period 2024 to 2030 CAGR:
5.5%
Market Size in 2030:
US $1.93 Bn.


 Segments Covered:
by Size
4 to 10 oz
12 to 18 oz
Above 18 oz


by Type
Training Gloves
Bag Gloves
Others


by Buyers
Institutional
Individual


by Material
PU Leather
Leather
Superskin
Others



Boxing Gloves Market, by Region
 North America (United States, Canada and Mexico)
 Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
 Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
 Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
 South America (Brazil, Argentina Rest of South America)
Boxing Gloves Market, Key Players are
1. Bytomic Martial Arts
2. Century Martial Arts
3. Combat Sports Ins
4. Everlast Worldwide Inc
5. Fairtex Equipment co. Ltd
6. Hayabusa Fightwear Ins,
7. Prolast Corporation
8. Revgear
9. RDX Sports
10. Sanabul
11. Title Boxing LLC
12. Twins Special
13. Yokkao
14. Rival Boxing
15. Reebok
16. International ltd
17. Adidas AG
18. Sports Direct International Plc

Frequently Asked Questions:

1] What segments are covered in the Global Boxing Gloves Market report?
Ans. The segments covered in the Boxing Gloves Market report are based on Size, Type, Buyer, Material and Region.

2] Which region is expected to hold the highest share in the Global Boxing Gloves Market?
Ans. The Europe region is expected to hold the highest share in the Boxing Gloves Market.

3] What is the market size of the Global Boxing Gloves Market by 2030?
Ans. The market size of the Boxing Gloves Market by 2030 is expected to reach US$ 1.93 Bn.

4] What is the forecast period for the Global Boxing Gloves Market?
Ans. The forecast period for the Boxing Gloves Market is 2024-2030.

5] What was the market size of the Global Boxing Gloves Market in 2023?
Ans. The market size of the Boxing Gloves Market in 2023 was valued at US$ 1.32 Bn.