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The global cricket equipment market size was valued at USD 564.43 million in 2021. The market is projected to grow from USD 594.46 million in 2022 to USD 897.02 million by 2029, exhibiting a CAGR of 6.05% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with cricket equipment sales experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of 7.19% in 2020 as compared to 2019.
There is growing demand for cricket bats and equipment from various organizations such as schools, colleges, cricket clubs, and fitness centers. The increasing demand for customized sports products and cricket accessories fuel the growth of the cricket gear market. Moreover, the rising construction of stadiums and the emergence of local sports clubs at domestic level in India, Australia, New Zealand, West Indies, South Africa, and U.K., among others is also augmenting the overall market growth. Furthermore, the shifting preference of consumers toward premium and branded goods along with the availability of an extensive range of attractive products has the potential to attract consumer’s spending on these equipment, thereby fostering the cricket equipment market growth.
Raw Material and Finished Products Movement Disruption Caused by COVID-19 to Impede Growth Momentum
The COVID-19 pandemic had a negative impact on the demand for outdoor sports equipment and products such as cricket equipment. Various shutdowns around the world have forced manufacturers to close manufacturing facilities due to labor shortages, reducing demand for cricket bats and equipment. Additionally, multiple lockdowns around the world have impacted sales of sporting goods with the closure of specialty stores, supermarkets, and hypermarkets.
Besides, the pandemic has also created several business breaks for both domestic and local markets. However, while offline sales have been severely impacted, online sales have remained resilient during the COVID-19 crisis. The pandemic is also stimulating demand for antiviral and antimicrobial products worldwide as consumers become increasingly prone to health-centric purchases and approaches. Online shopping took a competitive market share in 2020 as offline channels were completely closed. In recent years, several market players have implemented various strategies to minimize the operational impact of COVID-19 on several markets. Brand recovery strategies include diversifying product offerings and pricing, investing in new technologies, and personalized marketing campaigns.
Governments and intergovernmental organizations have provided guidance to sports associations, clubs, and organizations around the world on safety, health, labor, and other international standards and protocols. These protocols will be applied to future sporting events and related safe working conditions. This will enable all stakeholders to work as a team to identify current challenges and facilitate future sporting events that are safe and enjoyable for consumers. Additionally, many gyms offer discounted subscriptions and online video and audio lessons of varying lengths that change daily. There are countless live fitness demo classes available on social media platforms. These online services can serve to increase access to instructors or courses that would otherwise be inaccessible, and thus create an opportunity for the cricket bats & equipment market. As the global market continues to improve post the outbreak of the pandemic, the future of the sports industry looks bright due to increased demand for cricket bats & equipment by post-pandemic millennials, in which more export demand plays an important role.
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Shifting Consumer’s Preference toward Branded Products to Influence Purchase Decisions
The tastes and preferences of consumers are constantly changing as demand patterns for different products change. The competitive scenario in the sports industry has changed significantly as consumer lifestyles have shifted significantly toward brands and luxury cricket items. Recent trends have changed consumer buying behavior, placing more emphasis on comfort and quality products. This factor has created great potential for different brand owners to create cricket equipment from different materials and benefits.
Now-a-days, people are forced to live differently these days, with consumption patterns changing over time. Younger generations and higher-income consumers are turning to online shopping for both essential and non-essential items as it saves time and offers a wide variety of products, which is expected to drive the growth of the global market.
Rising Occurrences of Cricket Leagues Globally to Favor Market Expansion
The thriving growth of cricket leagues, especially in India, England, and Australia is projected to drive the cricket kit market size. Various high-profile and spectacular T20 tournaments, such as Big Bash, IPL, and T20 blast, are hosted worldwide, making them popular spectator events. Moreover, increasing spending of governments on infrastructural development of the sports industry along with rapid investments toward the promotion of technological advances such as sports analytics, sports medicine, and the development of affordable sports equipment is expected to accelerate the market growth. For instance, in December, 2021, under the Khelo India scheme, 62 sports infrastructure projects in different categories have received funding from the Government of India in the North East region.
Growing Spending by Millennials on Sports Equipment to Expand Product Demand
In recent times, the young population is inclined toward sports activities, especially cricket, which is driving the market growth of cricket bats & equipment. Also, the young generation nowadays has engaged with self-care and become more proactive, mindful, and motivated by wellbeing. This will further propel the growth of the market. Also, in the last few years, the spending nature of the U.S. has changed drastically, which fueled the demand for premium products, including cricket goods. Millennials easily outpace other generations for monthly spending on sports activities, including cricket. Therefore, the growing demand for cricket bats & equipment from the young population will drive the growth of the market. For instance, according to a study conducted by Sports Events and Tourism Association in 2020, it has been witnessed that travel to amateur and collegiate sports events in 2019 accounted for USD 45.1 billion in spending in the U.S., an increase of over 5% from the previous year.
Increasing Cost of Raw Materials to Restrain Market Growth
Fluctuations in raw material costs affect product manufacturing and limit product revenue worldwide. In addition, higher technology and cost of production processes are constraining product demand worldwide. Rising raw material costs increase production costs at the firm level. This drives the price of the final product, which, in turn, hinders sales growth of cricket equipment. For instance, according to the report published by the National Association of Home Builders (NAHB), in February 2022, the price of lumber increased from USD 550 per thousand in 2020 to USD 850 per thousand in 2021.
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Greater Safety Feature to Trigger Demand for Protective Gear Product Type
The market is segmented into bat, ball, protective gear, and others based on product type. The protective gear segment is anticipated to lead the market over the forecast period as it offers great safety to players. It is imperative that the equipment bought is of good quality and that the equipment is used properly. Protective gear mainly includes helmets, sunglasses or protective eyewear, leg pads, and gloves. This increased the demand for cricket balls and thus, augmented the overall product demand for cricket bats & equipment.
Furthermore, in recent times, weight, sustainability, and flexibility also affect consumer’s demand pattern for sports equipment. Manufacturers are focused on using more sustainable raw materials to produce sports tools, which would provide environmental protection, thereby fostering the demand for cricket kits. The protective gear segment contributed a market share of 41.01% in 2021 in the overall market and is poised to grow continuously over the forecast period.
Growing Participation of Men in Cricket Tournaments to Drive Men Segment in the Overall Market
On the basis of end-user, the market is segmented into men and women. The men’s segment is projected to dominate the market due to the wide usage of cricket equipment mostly by men, which increases its demand in the market. Over the years, it has been observed that men have been participating in professional and international cricket games more than women, which, in turn, boosted the cricket gear market size in terms of men’s segment. Furthermore, cricket has historically been run in a meritocratic manner, which has given undue opportunities to different players, especially when it comes to men's cricket. Along with their unmatched striking, men always possessed a high level of skill at the entry level and helped boost the growth of men's cricket.
The men segment contributed a major share in the global cricket bats and equipment products market accounting for 75.49% in 2021. The segment is projected to grow at a CAGR of 5.94% on account of increasing cricket championship across the world.
Asia Pacific Cricket Equipment Market Size, 2021 (USD Million)
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On the basis of geography, the global market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Asia Pacific holds the highest cricket equipment market share, with established players in Australia, India, New Zealand, and Pakistan, leading to the demand for cricket bats and more flexible sporting equipment. Led by India and Australia, the market is characterized by a strong consumer preference for luxury and premium sports products. Moreover, the continuous emergence of small manufacturers offering products at affordable prices has significantly boosted the consumption of sporting goods in Asian countries such as Australia, China, India and Japan.
Asia Pacific is projected to grow at the fastest CAGR of 7.06% during the forecast period. The Asia Pacific market is expected to grow significantly owing to several improvements in the industry to produce sporting goods with high-quality natural raw materials. Additionally, the need for multiple cricket tools in sports federations and cricket clubs is driven by increased sporting activity in various regions, resulting in an overall demand for products in those regions. Additionally, high-quality, premium cricket equipment is popular among the International Cricket Federation, especially in countries such as India, Australia, and Pakistan, and is estimated to increase in the next few years in the Asia Pacific region.
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The development of the cricket kit products market in the Middle East & Africa is attributed to the inclination of manufacturers toward the growing urban population in MEA countries.
Product innovation by Key Market Players to Drive Gradual Enhancement
Various players in the market are focused on launching flexible and efficient cricket match equipment and accessories suitable for all types of key players. Moreover, the increase in cricket tournaments and championships has significantly increased the demand for cricket accessories in all regions.
The cricket ball product type is expected to gain a modest market share during the forecast period. Balls need to be purchased frequently as they undergo wear & tear from game to game. Also, from a production perspective, the development of new business opportunities and product categories will gradually improve traditional product designs in the coming years.
An Infographic Representation of Cricket Equipment Market
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The cricket equipment market report analyzes the market in-depth and highlights crucial aspects such as key companies, product types, and sales channels. Besides, the report covers insights into the cricket equipment market trends and highlights significant industry developments. In addition to the aspects mentioned earlier, the report encompasses several factors contributing to the market growth.
Value (USD Million)
By Product Type
North America (By Product Type, End-user, and Country)
Europe (By Product Type, End-user, and Country)
Asia Pacific (By Product Type, End-user, and Country)
South America (By Product Type, End-user, and Country)
Middle East & Africa (By Product Type, End-user, and Country)
Fortune Business Insights says that the global market size was USD 564.43 million in 2021 and is anticipated to reach USD 897.02 million by 2029.
In 2021, the global market value stood at USD 564.43 million.
Ascending at a CAGR of 6.05%, the global market will exhibit steady growth over the forecast period (2022-2029).
By product type, the ball segment is expected to dominate the market throughout the forecast period (2022-2029).
Increasing cricket tournament in various countries is accelerating market growth.
Kookaburra Sport Pty Ltd, Grays International, Sommers, Kippax Willow Limited Company, Bradbury, Blue Tongue Sports, Adidas AG, Stag Cricket, Salix Cricket Bat Co. Ltd, and Blankbats are the leading players worldwide.
Asia Pacific dominated the global market in 2021.
The rising demand for cricket apparatus among the young population along with the expanding number of brands producing a wide range of cricket kits is favoring market expansion.
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