(Health-NewsWire.Net, December 06, 2018 ) A recently published report of Fact.MR has envisaged a CAGR of 2.7% for the global baseball apparel market during the forecast period 2017 to 2026. Sales of baseball apparel around the world are estimated to exceed US$ 500 Mn in revenues by 2026-end.
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Major Leagues Baseball is deemed as the second most popular sport In the U.S, as per the survey carried out by The Harris Poll. The popularity of baseball has further been gaining significant traction in Europe, supported by an exceptional performance of Netherlands in the 2013 World Baseball Classic League. Introduction of many new baseball tournaments, emerging trend, has been fuelling participation in baseball. These tournaments, which aim at enhancing the popularity of baseball globally, are in turn creating huge demand for baseball apparel. With the number of participants increasing in the sport at various levels, baseball has become one of the lucrative platforms for sales of custom-printed apparel, and this trend is expected to prevail in the foreseeable future. Current technological innovations in the market aim at enhancement of apparel performance and player comfort, along with an ability to make a robust style statement. Among noteworthy material and fabric innovations in baseball apparel is incorporation of the smart nanotechnology-based fabrics, which are capable of trapping and suspending moisture for keeping the player dry.
In North America, participation rate in baseball is witnessing a significant upsurge in light of options available to youth in the selection of baseball as their profession. Numerous individuals in the region have showcased huge interest in the sport since the recent past, thereby stoking demand for baseball apparel. The report slates North America to remain the fast-expanding and the most remunerative market for baseball apparel.
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The escalating wages of baseball players coupled with surging popularity of this sport have enabled larger spending on the baseball apparel. Shirt will remain the leading revenue contributor to the baseball apparel market, on the back of various advancements in fabrics and customization options in designs.
Modern trade channels and third party online channels enable baseball players to select from a wide variety of apparel brands, along with the provision of discounts on several brands. These two sales channel are anticipated to spearhead the baseball apparel market globally, in terms of revenues.
Based on buyer type, individual buyers will continue to account for the largest market revenue share, followed by institutional buyers. Promotional buyers are expected to hold a very small revenue share of the market during the forecast period.
A few major players hold dominance in global market for baseball apparel. Although there are only few major vendors, the market’s nature is highly fragmented owing to the occupancy of many local & regional vendors. Competition in the global baseball apparel market will intensify, thereby driving manufacturers to make product advancements in the foreseeable future. Prominent players identified by the report who are sustaining expansion of global baseball apparel market include Nike, SSK, Nokona, Wilson (Amer Sports), Mizuno, Under Armour, Zett, Louisville Slugger, Rawlings (Jarden), and Easton.
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