Leather Sports Gloves Market

The article discusses the performance and trends in the global leather sports gloves market from 2022 to 2030. It includes data on consumption, production, imports, and exports of leather sports gloves, mittens, and mitts. Key points include a forecasted increase in market volume and value, a decline in consumption and production in 2022, and the top countries in terms of consumption, production, imports, and exports. The article also covers average prices, growth rates, and trends among major importing and exporting countries.

Market Forecast

Driven by rising demand for leather sports gloves worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +5.0% for the period from 2022 to 2030, which is projected to bring the market volume to 202M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.2% for the period from 2022 to 2030, which is projected to bring the market value to $1.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Leather Sports Gloves, Mittens And Mitts

In 2022, global consumption of leather sports gloves, mittens and mitts declined to 137M units, dropping by -13.3% compared with the previous year. Overall, consumption continues to indicate a perceptible curtailment. Global consumption peaked at 191M units in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

The global leather sports gloves market revenue dropped to $980M in 2022, waning by -11.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a mild setback. Global consumption peaked at $1.5B in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (41M units), China (21M units) and Pakistan (11M units), with a combined 54% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Pakistan (with a CAGR of +31.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest leather sports gloves markets worldwide were the United States ($292M), Pakistan ($162M) and China ($125M), together comprising 59% of the global market. The Philippines, South Korea, Indonesia, Japan, Canada, Thailand, Myanmar, the UK, Australia and India lagged somewhat behind, together accounting for a further 30%.

Myanmar, with a CAGR of +99.3%, saw the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of leather sports gloves per capita consumption in 2022 were the United States (123 units per 1000 persons), South Korea (122 units per 1000 persons) and Canada (86 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Pakistan (with a CAGR of +28.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Leather Sports Gloves, Mittens And Mitts

In 2022, after ten years of growth, there was decline in production of leather sports gloves, mittens and mitts, when its volume decreased by -0.4% to 174M units. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 1.2% against the previous year. Global production peaked at 175M units in 2021, and then reduced modestly in the following year.

In value terms, leather sports gloves production totaled $1.5B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 when the production volume increased by 5.3% against the previous year. Over the period under review, global production attained the peak level at $1.5B in 2018; afterwards, it flattened through to 2022.

Production By Country

The country with the largest volume of leather sports gloves production was Thailand (68M units), comprising approx. 39% of total volume. Moreover, leather sports gloves production in Thailand exceeded the figures recorded by the second-largest producer, China (32M units), twofold. Pakistan (18M units) ranked third in terms of total production with a 10% share.

In Thailand, leather sports gloves production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: China (+0.4% per year) and Pakistan (+1.8% per year).

Imports

World Imports of Leather Sports Gloves, Mittens And Mitts

In 2022, supplies from abroad of leather sports gloves, mittens and mitts increased by 6.6% to 96M units, rising for the second consecutive year after five years of decline. Overall, imports, however, showed a mild descent. The most prominent rate of growth was recorded in 2021 when imports increased by 21% against the previous year. Over the period under review, global imports hit record highs at 115M units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, leather sports gloves imports skyrocketed to $638M in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (42M units) was the main importer of leather sports gloves, mittens and mitts, generating 44% of total imports. South Korea (6.4M units) ranks second in terms of the total imports with a 6.6% share, followed by the UK (5.4%). The following importers - the Netherlands (3.8M units), Canada (3.5M units), Japan (3.3M units), Italy (2.5M units), Australia (2.2M units), France (1.9M units), Germany (1.7M units) and Spain (1.7M units) - together made up 21% of total imports.

Imports into the United States decreased at an average annual rate of -1.0% from 2012 to 2022. At the same time, the Netherlands (+11.3%), Spain (+5.8%), South Korea (+5.4%), Italy (+3.9%), France (+1.9%) and the UK (+1.4%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +11.3% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, Canada (-1.1%), Japan (-3.4%) and Australia (-13.0%) illustrated a downward trend over the same period. While the share of South Korea (+3.3 p.p.), the United States (+3 p.p.) and the Netherlands (+2.8 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Australia (-5.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($311M) constitutes the largest market for imported leather sports gloves, mittens and mitts worldwide, comprising 49% of global imports. The second position in the ranking was taken by South Korea ($38M), with a 5.9% share of global imports. It was followed by Japan, with a 5.7% share.

In the United States, leather sports gloves imports expanded at an average annual rate of +2.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+5.5% per year) and Japan (-2.5% per year).

Import Prices By Country

The average leather sports gloves import price stood at $6.6 per unit in 2022, rising by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($11 per unit), while the UK ($3.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+18.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Leather Sports Gloves, Mittens And Mitts

In 2022, overseas shipments of leather sports gloves, mittens and mitts increased by 24% to 134M units, rising for the fourth consecutive year after three years of decline. In general, total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +110.8% against 2018 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 37% against the previous year. The global exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, leather sports gloves exports soared to $680M in 2022. The total export value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 21%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

Thailand was the major exporter of leather sports gloves, mittens and mitts in the world, with the volume of exports accounting for 66M units, which was approx. 49% of total exports in 2022. Indonesia (13M units) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by China (9.1%), Vietnam (7.1%) and Pakistan (5.2%). The Philippines (5.7M units), India (3.1M units), Italy (2.2M units) and the Netherlands (2.2M units) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the leather sports gloves, mittens and mitts exports, with a CAGR of +24.9% from 2012 to 2022. At the same time, the Netherlands (+14.2%), Italy (+10.3%) and Vietnam (+1.6%) displayed positive paces of growth. Indonesia experienced a relatively flat trend pattern. By contrast, India (-3.4%), Pakistan (-7.2%), China (-7.7%) and the Philippines (-10.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand increased by +42 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest leather sports gloves supplying countries worldwide were Indonesia ($136M), Thailand ($91M) and Vietnam ($87M), with a combined 46% share of global exports. China, Pakistan, the Philippines, Italy, the Netherlands and India lagged somewhat behind, together accounting for a further 39%.

Among the main exporting countries, the Netherlands, with a CAGR of +10.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average leather sports gloves export price stood at $5.1 per unit in 2022, shrinking by -3.9% against the previous year. In general, the export price showed a slight setback. The most prominent rate of growth was recorded in 2013 when the average export price increased by 13% against the previous year. The global export price peaked at $8.8 per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($12 per unit), while Thailand ($1.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+12.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform