The global ball sports luggage market size is expected to reach USD 3.88 billion by 2025 registering a CAGR of 10.4%, according to a new report by Grand View Research, Inc. Rising importance of outdoor sports in maintaining a healthy lifestyle is the key factor augmenting the market growth. Preference for ball games is also a major driving factor for the market. Ball sports luggage are proven to maintain the quality and rigidness of the material for a longer period.
In addition, professional usage of the ball sports luggage across various sports associations, such as National Football League (NFL) and National Basketball Association (NBA), acts as a major factor boosting the product demand. These sports bodies have also undertaken initiatives to increase the awareness about the importance of sports. For example, the Sport for All initiative undertaken by the President’s Council on Sports, Fitness & Nutrition aims at educating people about the health benefits of outdoor sports. Basketball type segment held the largest market share of 39.7% in 2018 and will retain its leading industry position throughout the forecast years.
On the other hand, football type segment is projected to expand at the fastest CAGR from 2019 to 2025. Asia Pacific is expected to witness the highest CAGR of 11.5% during the forecast period on account of increasing awareness about the health benefits of outdoor sports. Moreover, rising number of different sports competitions held across countries, such as China, Japan, and India, will contribute to the product demand. For instance, in June 2017, T2 Asia Pacific was inaugurated, a new table tennis league involving world’s top 24 players.
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Further key findings from the study suggest:
- In terms of revenue, North America contributed to the maximum share in the global ball sports luggage market
- The basketball type segment accounted for the largest revenue share in 2018 and will continue growing further. The football type segment is expected to register the fastest CAGR from 2019 to 2025
- The global market is highly competitive and some of the key companies include Adidas America, Inc.; Amer Sports; Nike, Inc.; PUMA; Under Armour, Inc.; Sport System S.r.l.; Belco; Gala a.s.; Dunlop Sports; Mikasa Sports USA
