Volleyball Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Volleyball Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The volleyball equipment market is projected to register a CAGR of 6.83% during the forecast period, 2022-2027.

During COVID-19, the Volleyball equipment market was negatively affected. Worldwide lockdown led to many pre-orders being canceled, resulting in the cancellation of events and the closure of basketball academies. Since almost all the nations stopped their trade activities during the pandemic, the industry has been faced with many constraints due to the disruption in the supply chain.

In the long term, the overall market is expected to drive by the increasing number of new national and international leagues and tournaments across the globe. Furthermore, in every season of big tournaments, there is an increasing trend of launching new balls with improved features. In addition. the rising popularity of beach volleyball in Brazil, Australia, and New Zealand, as well as in continental Europe, and the growing participation in sports tournaments which include outdoor sports such as volleyball is likely to propel the demand for volleyball equipment during the forecast period. For instance, in April 2022, the popular volleyball event - Volleyball World Beach Pro Tour announced the addition of five new stops to its existing beach volleyball location making it a total of 24 for 2022's season.

Moreover, the emergence of 3D-printed volleyball shoes and eco-friendly sports gear and equipment will continue to generate massive opportunities that will further contribute to the growth of the volleyball equipment market. In addition, the growing popularity of sand or beach volleyball as a recreational sport among leisure travelers is anticipated to push the demand for volleyball equipment in the worldwide market.

Key Market TrendsGrowing Popularity of Volleyball

The game of volleyball is an easy one to get involved in. It has the simple requirements of a ball, a net, and two teams of players with an equal number of players on each team so that they will compete against one another in a game of baseball. In addition to playing volleyball indoors and outdoors, there are several terrific beach locations around the world where tournaments and games are held. Several indoor sand courts are becoming more popular, even if there is no beach nearby or if the weather isn't too favorable. The sport of beach volleyball has gained a lot of popularity, especially among women. Hence, the ease of playing and convenience are making volleyball popular around the globe which is augmenting the growth of the volleyball equipment market.

The importance of sports activities, foremost for health reasons, the increasing influence of celebrity endorsement, and international sports events are encouraging the involvement of consumers in sports activities. The increasing number of volleyball events and tournaments as well as the increase in the number of women participants are boosting the demand for the volleyball equipment market. For Instance, Women's volleyball participation in high schools has increased by about 12% in the last decade. According to the National Federation of State High School Associations, the number of students playing the sport in 2018-19 exceeded 450,000. This in turn is supporting the growth of volleyball equipment sales, globally.

Asia-Pacific is the Fastest Growing Region

The Volleyball equipment market in Asia-Pacific is experiencing rapid expansion due to the rising consumer awareness of active lifestyle hence outdoor sports participation is rising in the region. Such factors make Asia a potential market for Volleyball equipment, and thus, manufacturers are exploring this trend to attract young Asian consumers. In countries like China and India, the most popular sports are undergoing dramatic changes in popularity. This is a change that has been driven by western influence as well as the growth of international sporting events, which in turn encourages Chinese and Indian people to participate in sports like volleyball, basketball, and football, among others. Moreover, the Chinese and Indian governments are taking various initiatives to boost the sports culture in the country which in turn is providing a big opportunity for global and regional sport equipment brands. For instance, In February 2022, the Volleyball Federation of India (VFI) inaugurated its franchise-based volleyball league to include around eight teams featuring national top Indian players registered with VFI.

Competitive Landscape

The global volleyball equipment market is moderately consolidated owing to the presence of a few regional and multinational companies offering a wide range of volleyball equipment products and trying to maintain their leadership position in the market. Major players in the market include Wilson Sporting Goods, Mikasa Corporation, Spalding Sports Equipment., Tachikara Holdings, Ltd., and ASICS America Corporation, holding a significant share of the market studied and embarking on business strategies including product innovations, partnerships, strengthening their hold over online and offline marketing, and mergers & acquisitions to expand their visibility and portfolio of offerings, thus, augmenting the growth of the market.

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