LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global sports hand gloves market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global sports hand gloves market is anticipated to post a revenue of more than USD 1600 million by 2022. The development programs to increase participation are a major factor driving the market’s growth.
The grassroots programs are those that are conducted in schools, clubs, and communities to form the core values of sports, particularly among the youth. The growing number of grassroots programs, specifically for kids, are driving the growth of the sports hand gloves market around the world. They encourage young people to join sports, thereby nurturing them to become regular or professional players.
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In this report, Technavio highlights the advent of eco-friendly products as one of the key emerging trends driving the global sports hand gloves market:
Advent of eco-friendly products
There has been an increase in environmental concerns around the world. This will lead to the market witnessing an increased demand for eco-friendly products. Organic cotton, water-based adhesives, and recycled plastic materials are replacing traditional leather, synthetic rubber, polyurethane, nylon, and other synthetic materials in the manufacturing process of many sports equipment.
“Newly developed and advanced non-toxic, green material such as thermoplastic elastomer is also being increasingly used in different kinds of sports equipment. Many vendors are launching such products currently to cater to the increased demand for eco-friendly products. This will positively affect the market over the next five years. Thus, an increase in the use of eco-friendly raw materials in the production of sports hand gloves is the current prevailing trend in the market that is likely to propel the market growth during the forecast period,” says a senior analyst at Technavio for research on outdoor gear.
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Global sports hand gloves market segmentation
This market research report segments the global sports hand gloves market into the following products (boxing gloves, baseball gloves, soccer gloves, hockey gloves, and cricket gloves) and key regions (the Americas, APAC, and EMEA).
In 2017, the global sports hand gloves market was led by the boxing gloves segment with a share of almost 38%. The market share for this region is expected to decrease slightly during the forecast period.
The Americas was the leading region for the global sports hand gloves market in 2017, accounting for a market share of more than 41%. The growth of the market in this region will witness a slight decline during the forecast period.
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