Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Kickboxing Equipment market.
Trusted Business Insights presents an updated and Latest Study on Kickboxing Equipment Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Kickboxing Equipment market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Kickboxing Equipment Market
The global kickboxing equipment market size was valued at USD 188.3 million in 2018. Growing adoption of cardio kickboxing as a fitness program among gym professionals as well as athletes is projected to promote the scope for kickboxing equipment. The health experts recommend that the continuous exercise of kickboxing result in enhanced cardiovascular endurance and body resistance. Furthermore, increasing importance of boxing as a key medium for ensuring self-defense among the youth population is expected to promote the scope for various kickboxing equipment including gloves, protective gears, and punching bags.
Kickboxing is one of the forms of martial arts, which enhances cardiovascular endurance, provides full-body workout, and helps in muscle toning. It works on all major muscles of the body that improves balance, hand-eye coordination, and flexibility. Kickboxing needs a constant movement of the players that helps them in burning the calories. Therefore, consumers are investing in these kinds of kickboxing equipment in order to reduce fat and limit the occurrences of cardiovascular diseases.
Kickboxing has gained significant popularity for self-defense as it relieves stress, boosts confidence, and maintains self-esteem. Over the past few years, women participation has increased significantly across the globe. They represent the major part of the total number of participants in cardio kickboxing. This shifting trend has driven many sports organizers to expand the weight classes for women in kickboxing, which drives the demand for kickboxing equipment. For instance, in July 2017, Glory introduced the women’s super-bantamweight division in the Grand Prix tournament. The expansion of weight categories will widen the scope for the manufactures of kickboxing equipment in the near future.
Over the past few years, tracking devices have been gaining popularity in this industry. They help in improving the performance of the boxer by collecting data on speed, number of punches thrown, punch type, and power. For instance, in June 2016, Hykso launched its wearable tracking device, which tracks the total number, type, and velocity of punches. Additionally, the punch results in real-time are available on the connected app, which tracks players daily, weekly, and monthly progress.
Application Insights of Kickboxing Equipment Market
The commercial application segment dominated the global kickboxing equipment market in 2018, accounting for over 70.0% share of the total revenue. This segment includes all the commercial institutes such as health clubs and training centers. These institutes provide access to an extensive range of kickboxing equipment to the players. In addition, these organizations have the personal mentors who can train the player efficiently.
The individual segment is expected to expand at the fastest CAGR of 3.9% from 2021 to 2026. Rising purchasing power of the middle-income age groups in developing countries such as China and India is projected to increase the spending on fitness equipment including kickboxing equipment for home use. Additionally, home boxing equipment allows the consumers to practice as per the convenience.
Distribution Channel Insights
As of 2018, the offline distribution channel held the largest share of more than 85.0% share of the total revenue. Sports and specialty stores represented a major part of offline sales. The skilled customer service personnel of these stores offer the necessary information and support to the consumers. Therefore, a large number of the consumers prefer to buy kickboxing equipment from offline retails.
The online distribution channel is projected to expand at the fastest CAGR of 4.1% from 2021 to 2026. Adoption of the latest mobile technologies, along with availability of affordable smartphones, is boosting the growth of e-commerce across the globe. A large number of online payment platforms has also been driving the online segment by improving the payment process for the consumers. In addition, convenient shopping experience offered by the online retailers including Amazon and Walmart is anticipated to enhance the growth of the e-commerce in kickboxing equipment.
Product Insights of Kickboxing Equipment Market
As of 2018, gloves led the market for kickboxing equipment and held a share of 40.9%. Boxing gloves are the most essential equipment in kickboxing. Various associations recommend the use of wearing gloves mandatory for both professional and amateur players during kickboxing. Gloves protect the hand, especially the knuckles of the player while punching or kicking. A wide variety of gloves including bag gloves, sparring gloves, competition gloves, and lace up gloves are available in the market. Among them, the professionals generally prefer competition gloves and lace up gloves during training as well as competition.
Protective gear is expected to expand at the fastest CAGR of 4.2% from 2021 to 2026. This segment includes kickboxing equipment such as mouth guards, shin guards, ankle support wraps, headgear, and hand wraps. Over the past few years, the manufacturers have been coming up with advanced protective gear in terms of build-in quality and design by using new technologies. Headgear is one of the most important protective gears as it protects against head injuries including concussions. Serious injuries incurred by players during kickboxing are also increasing the necessity for innovative headgear, which can provide maximum protection.
Regional Insights of Kickboxing Equipment Market
As of 2018, Asia Pacific dominated the market for kickboxing equipment with a share of more than 40.0%. Japan, China, India, Australia, South Korea, Myanmar, New Zealand, Singapore, Thailand, Cambodia, and Mongolia are the prominent markets. Furthermore, over the past few years, increasing promotional activities have been increasing the number of players in the region. The major promotional events of the region include K-1, Glory, Glory of Heroes, Kunlun Fight, Shoot Boxing, Lumpinee Stadium, and Wu Lin Feng.
Other markets including North America and Europe are expected to altogether generate a revenue of exceeding USD 100 million by the end of 2025. Similarly, increasing number of events and competitions in the aforementioned regions is expected to boost the demand for the kickboxing equipment in these regions.
Market Share Insights of Kickboxing Equipment Market
Key manufacturers of kickboxing equipment include Adidas AG;Last Round Equipment;Budoland; Century LLC; Everlast Worldwide, Inc.; Hayabusa Fightwear Inc.; Twins Special Co., Ltd; SMAI; Combat Sports International; Hykso; and WESING SPORTS. Over the past few years, companies have been strategically expanding their business through the partnership with the distributors and product innovation at the global level. For instance, in October 2018, UFC, a global martial arts organization, in collaboration with CSG Taiwan Ltd., announced plans to launch UFC Force Tracker. The product is featured with Bluetooth device that tracks speed, endurance, and power of a player during training. The device connects with the iOS and Android devices through Xforce Tracker mobile app to record, store, and analyze the player’s progress.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Kickboxing Equipment Market Research Report
This report forecasts revenue growth at the global, regional, and country levels, and provides an analysis on the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global kickboxing equipment market report based on product, application, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2019 – 2030)
Application Outlook (Revenue, USD Million, 2019 – 2030)
Distribution Channel Outlook (Revenue, USD Million, 2019 – 2030)
Quick Read Table of Contents of this Report @ Kickboxing Equipment Market Size, Share, Global Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)
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