A recently published report of Fact.MR envisages the global Baseball Equipment Marketto register a modest CAGR between the period 2017 and 2026. Baseball equipment sales across the globe are expected to account for roughly US$ 1,200 Mn revenues by 2026-end.
In the United States, according to a survey by The Harris Poll, the second most popular sport is Major Leagues Baseball. Popularity of baseball is further gaining significant momentum in Europe, with an exceptional performance of the Netherlands in World Baseball Classic League, 2013. Introduction of several new baseball tournaments is an emerging trend fuelling participation in the sport. These tournaments aim at enhancing popularity of baseball worldwide, thereby creating high demand for relevant equipment. Over the past few years, several innovations have been witnessed in baseball equipment, particularly in baseball gloves and bats. A great example of this is the introduction of heavier balanced baseball bats incorporated with an inner rigid hard aluminum barrel along with a compressible polymer sleeve. These bats enhance the player’s performance by enabling more contact of barrel area with the ball, improving ball rotation, and increasing size of crosswire full energy transfer.
In North America, participation in baseball has been surging significantly in light of option available to youth for selecting baseball as a professional career. A large number of individuals have depicted high interest in baseball since the recent past in the region, which in turn has driven demand for baseball equipment. North America has been slated by the report to remain the fast-expanding as well as the largest market for baseball equipment.
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Among products available in the baseball equipment market, bat is expected to retain its dominance with a revenue share of approximately 66% during 2017 and 2026. The rise in wages of baseball players in tandem with surging popularity of the sport has been driving demand for baseball bat. Baseball bats manufactured by using wood are expected to remain preferred among players.
Key Takeaways from the Report
Third party online channel and modern trade channels will dominate the global baseball equipment market during 2017 to 2026
Individual buyers will continue to account for a comparatively larger revenue share of the market than institutional and promotional buyers combined
A few major vendors hold dominance in the global market for baseball equipment. Albeit there are only few leading vendors, nature of the market is highly fragmented on the back of the occupancy of many local and regional vendors. Competition among players in the global baseball equipment market is likely to intensify, which in turn will drive manufacturers to introduce advanced products in the foreseeable future. Key players sustaining expansion of the market, as identified by the report, include Easton, Mizuno, Rawlings (Jarden), Wilson (Amer Sports), Louisville Slugger, Nokona, Zett, SSK, Under Armour, and Nike.
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6 Key Projections on Future of Baseball Equipment Market for Forecast Period 2017-2026
Based on buyer type, individual buyers are likely to remain dominant in the market, in terms of revenues and sales expansion. This buyer type segment is projected to hold more than 60% share of the market by 2026-end.
Institutional buyers will also continue to account for a significant market revenue share. In contrast, promotional buyers will account for a sluggish revenue share of the market throughout the forecast period.
Third party online channel is anticipated to record the highest CAGR in the market through 2026, based on sales channel. Revenues from this sales channel segment will remain the largest, followed by modern trade channels.
Sales of baseball equipment in direct to customer online outlet and direct to customer brand outlet are likely to exhibit a parallel rise through 2026, with revenues from the latter projected to remain relatively larger than those from the former.
Bat and gloves are anticipated to continue dominating the global baseball equipment market, with revenues collectively slated to exceed US$ 1,000 Mn by 2026-end. Sales of gloves will reflect a comparatively higher CAGR than sales of bat through 2026.
The global market for baseball equipment will continue to be dominated by North America, followed by Europe. Asia-Pacific excluding Japan will also prevail as a lucrative market for baseball equipment.
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