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Ball Sports Luggage Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global ball sports luggage products market was valued at USD 5.6 billion in 2022 and is projected to expand at a CAGR of 6.2% from 2023 to 2030. The market is driven by the growing popularity of sports and the increasing demand for convenience and comfort by sports enthusiasts. With the emergence of multi-functional and user-friendly sports luggage products, the demand for such products has been increasing rapidly. Furthermore, the increasing adoption of advanced technologies such as AI, AR, and VR, to enhance the customer experience is also propelling the demand for such products.
Moreover, the growing popularity of sports among the younger generation has further increased the demand for ball sports luggage products. Such products are enabling athletes to conveniently store and transport their sports equipment. For instance, in June 2021, Nike launched the Air Zoom Pulse, a new line of shoes designed specifically for healthcare workers. The product was designed to provide comfort and convenience, with features such as water-resistant zippers and rubber outsoles. Furthermore, the product has a lightweight design and is equipped with a carry handle for easy carrying.
In addition, manufacturers are focusing on developing innovative products with advanced features to gain a competitive edge in the market. For instance, in February 2021, Puma launched the new Luna Ball Bag, which is designed to provide convenience and ease of use. The bag is equipped with a durable and lightweight construction and features a large main compartment for storing balls, as well as adjustable straps for carrying the bag comfortably.
Furthermore, the increased adoption of online retail stores for purchasing sports-related products is anticipated to boost the demand for ball sports luggage products. The growing popularity of e-commerce platforms to buy sports-related products is attributed to its convenience and cost-effectiveness. For instance, in August 2021, Amazon launched the Amazon Sports Store, which offers a wide range of sports-related products, including ball sports luggage.
The increasing demand for smart luggage and the emergence of IoT technology in luggage products have further accelerated the demand for ball sports luggage. Smart luggage is equipped with features such as automated weighing, location tracking, and distance measurement, which are beneficial for athletes. Additionally, the rising trend of mobile wallets and digital payments is propelling the market growth. For instance, in October 2021, the American Express Card was launched in partnership with the US Open, allowing customers to securely and conveniently make payments for purchases made at the tournament.
Product Insights
The backpack segment is anticipated to lead the market during the forecast period. The rising youth population worldwide and increasing disposable incomes in developing regions are the primary factors driving the demand for ball sports luggage products. Moreover, the increasing trend of travel and leisure activities are also driving the market growth. According to an article published by the Guardian, in February 2020, backpack sales have grown by a staggering 45% in the UK in the past five years.
The duffle bags segment is expected to expand at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for lightweight and stylish luggage products among travelers. Furthermore, the increasing preference for outdoor activities such as camping, hiking, and trekking is driving the demand for duffle bags. According to an article published by Statista, in April 2020, around 31% of American travelers aged between 18-29 years prefer to purchase duffle bags for short trips.
Distribution Channel Insights
The specialty stores segment accounted for the major share of over 33.6% in 2022. Specialty stores offer a wide range of specialized luggage products dedicated to ball sports. Moreover, these stores provide expert advice and assistance in selecting the right product according to the customer’s requirement. The products available in specialty stores are of premium quality, which attracts customers to purchase from these stores. In addition, many specialty stores have an online presence, which has increased the convenience for customers to shop from these stores.
The online segment is anticipated to expand at the highest CAGR of 11.6% over the forecast period. The growth of the segment is mainly driven by increasing internet penetration, the growing number of online stores, and the rising demand for convenience. The ease of shopping from the comfort of home has been a major factor driving the sales of ball sports luggage online. Moreover, online stores offer discounts and promotional offers, which has increased the preference of customers towards online stores.
Type Insights
The duffel segment accounted for the largest revenue share of 48.6% in the year 2022. The increasing popularity of ball sports such as football, baseball, and basketball is driving the demand for duffel bags among athletes. Furthermore, the growing trend of gymming and workout sessions is also contributing to the segment revenue. Moreover, the advantages of duffel bags such as lightweight, large capacity, and affordability are driving their adoption in the market.
The backpack segment is anticipated to expand at the highest CAGR of 9.7% over the forecast period. The rising trend of outdoor activities such as hiking and camping is driving the demand for backpacks. Additionally, the increasing awareness among consumers regarding the ergonomic benefits of backpacks is also driving the segment. Furthermore, the increasing sale of multi-utility backpacks is also aiding the growth of the segment.
Regional Insights
North America accounted for the largest revenue share of over 45.5% in 2022. The presence of prominent players, such as Nike, The North Face, and Under Armour, is a key factor driving the growth of the market in the region. The increasing participation of people in recreational activities, such as running, cycling, and camping, has also resulted in an increase in the demand for ball sports luggage products. For instance, in April 2021, Nike launched a new range of ball sports luggage products in the U.S.
Asia Pacific is expected to witness the fastest growth in the coming years. This is attributed to the increasing number of sports events, such as the Tokyo 2020 Olympics, in the region. Moreover, the growing demand for ball sports luggage products due to the rising participation of people in recreational activities is expected to further fuel the growth of the market. For instance, in April 2021, Gearonic launched a new range of ball sports luggage products in India.
Financial Projections
In this part of the Ball Sports Luggage Products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your ball sports luggage products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main sources of revenues for a ball sports luggage products business come from the sale of products, sponsorships, and advertising. Here you will find a list with a description of each of them and other possible sources of profit such as the sale of merchandise, and other services.
Projecting Expenses
In this section, all the regular expenses related to keeping the ball sports luggage products business running will be described. The list of operating expenses includes expenses related to the production of the product, wages, advertising, shipping, licensing and registration fees, insurance policies, and others.
Key companies & market share insights
Some of the key companies operating in the ball sports luggage market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In April 2022, Wilson Sporting Goods Co. launched the Pro Tour collection of golf bags, designed to provide superior protection for clubs and other golf accessories.
– In June 2022, Adidas AG launched the Easy Lock series of bags, designed to provide superior protection during transportation of sports equipment.
– In August 2022, Nike Inc. launched the Ultimate Sports Bag, designed to provide superior storage and protection for a wide range of sports balls.
Some of the prominent players in the ball sports luggage market include:
– Wilson Sporting Goods Co.
– Adidas AG
– Nike Inc.
– Puma SE
– Mizuno Corporation
– Easton Sports, Inc.
– DeMarini
– Rawlings Sports Goods Company
– Under Armour, Inc.
– Callaway Golf Company
Global Ball Sports Luggage Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global ball sports luggage products market based on product, distribution channel, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Backpacks
– Duffel Bags
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Offline
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of Ball Sports Luggage Market Growth?
[A]: The ball sports luggage market is driven by factors such as the growing popularity of outdoor sports and leisure activities, the rise of professional sports events, and the increasing popularity of ball sports such as football, rugby, and basketball. In addition, the growing trend of organized professional sports events and tournaments, the rising number of ball sports leagues, and the increasing demand for high-end ball sports luggage are also contributing to the growth of the ball sports luggage market.
[Q]: Who are the Key Players in the Ball Sports Luggage Market?
[A]: The key players in the ball sports luggage market include Adidas, Puma, The North Face, Inc., Eastpak, North Face, Inc., Osprey, and Victorinox AG.
[Q]: What is the Regional Breakdown of the Ball Sports Luggage Market?
[A]: The ball sports luggage market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to witness the highest growth rate in the ball sports luggage market during the forecast period, followed by Europe.
[Q]: What are the Opportunities for Companies in the Ball Sports Luggage Market?
[A]: Companies operating in the ball sports luggage market can explore opportunities in product customization and development of new products to cater to the needs of the end-users. In addition, companies can focus on developing lightweight and durable luggage for multiple sports. Furthermore, companies can focus on the development of innovative designs and materials that are specially designed for ball sports.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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