Popularity of rugby union has surge to a significant extent over the past couple of years, owing to the various initiatives that being taken by people associated with the sport. This has led to an increase in demand for rugby protective gears. Players of the modern rugby union sport maintain regimens that helps improve their physical abilities and skills, which, in turn, has made the sport more dynamic and competitive. Rugby was also included in the 2016 Olympics, which clearly indicates its growing popularity. Factors as such are expected to boost the future prospects of the global rugby protective gears market. According to the latest report published by Fact.MR, the global market for rugby protective gears will reach a valuation in excess of the US$ 700 Mn by the end of 2022, representing a moderate CAGR over the projection period (2017-2022). World Rugby, the international organization that is responsible for managing the sport of rugby union has launched a number of international rugby championships and leagues, which is anticipated to play a key role in boosting the demand for rugby protective gears across the globe. In addition, manufacturers are actively focusing on improving the quality and efficiency of product is order to increase their market presence.
Key Forecast Highlights on Global Rugby Protective Gears Market
- Demand for headgear will continue to gain tractions during the forecast period. Currently, sales of headgear used in used in rugby union account for over one-third market share in terms of revenue.
- Towards the end of 2022, more than US$ 290 Mn worth headgears are projected to be sold globally. High risk of head injuries while playing rugby is major factor propelling the sales of headgears.
- Latin America is expected to remain highly lucrative for rugby protective gears during the projection period. Between 2017 and 2022, the market Latin America is set to exhibit a moderate CAGR. Rugby is becoming increasingly popular is various parts of Latin America, which is expected to reflect favourably on the growth of the market in the region. The region is expected to account for significant market share in terms of revenue. Meanwhile, the market for rugby protective gears is also growing in the North America. By 2022-end, the region’s market is expected to surpass a valuation of US$ 140 Mn.
- On the basis of sales channel, the modern trade segment is expected remain highly attractive in 2017 and beyond. In terms for revenue, the segment currently command for around 25% share of the global market. Towards the end of the assessment period, the modern trade segment is estimated to reach a valuation in excess of US$ 170 Mn.
Key market participant mention in the Fact.MR report include Adidas AG, Vinci Pro, Franklin Sports Inc., Under Armour, Inc., Easton Sports, Inc., NIKE, Inc., Ampac Enterprises Inc., Newell Brands, Inc., Amer Sports Corporation, and Mizuno Corporation.