The 21st century has led to a number of technological innovations that have made our lives immeasurably simpler and more comfortable. However, the biggest challenges can directly be linked to our sedentary lifestyle leading to diabetes, obesity, heart disease, and hypertension. Millions of people across the world have begun taking their health a lot more seriously now and exercising at the gym is no longer considered an option. However, not every individual tends to use gym gloves even though they are recommended by gym trainers to avoid hand or wrist injuries. Even though manufacturers are experimenting with different materials, shades, and fits, many gym goers may not be comfortable using gym gloves and might consider them to be an additional expense that may be deemed unnecessary. All of these factors play a part in restraining the growth of the gym gloves market.
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Gym gloves are an essential for both newcomers as well as experienced fitness enthusiasts and are an important fitness accessory. Heavy weight lifting can lead to grievous injuries to the wrist, palms, or hands. Gym gloves are the perfect solution to avoiding this and can be evaluated on the basis of their padding, grip, quality, comfort, and cost.
The Fact.MR report on the Gym Gloves Market predicts it to grow to a value of just under US$ 1.2 billion by the end of 2022 and record a sluggish CAGR of 2.9%.
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.
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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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