The global Ice Hockey Apparel market garnered a market value of US$ 470.14 Million in 2022 and is expected to accumulate a market value of US$ 723.76 Million by registering a CAGR of 4% in the forecast period 2023-2033. The market for Ice Hockey Apparel Registered a CAGR of 2.5% in the historical period 2018-2022.
In recent years, the players in the market for ice hockey apparels are focusing on manufacturing new designs for their target audience. Several market players are adopting advanced materials to enhance the feel and comfort levels of ice hockey apparel and allow the users an ease of mobility. Furthermore, new and effective guidelines are being issued by international sports industry regulatory bodies with respect to the use of protective equipment in ice hockey.
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Speaking of government support initiatives, the Public Health Agency of Canada (PHAC), has committed up to US$ 2 Million support to the national expansion of Western University’s Hockey Fans in Training (Hockey FIT) program. By incorporating participants’ adoration of hockey into the campaign, this program hopes to inspire Canadian adult males to eat better meals and be more active.
In addition to these factors, the incorporation of various startups in recent years has added on to the growth of the market. These startups are adopting strategies to not only target customers in the Ice Hockey Apparel market but also make them stay for as long as possible.
One such startup gaining popularity is Oneiric. Oneiric develops innovative base layer apparel for hockey players with patented performance, safety, and convenience features. Their flagship products help players get dressed faster, hold shin pads secure so they don’t move around during play for better performance, and have added protection in areas that are left exposed by hockey equipment that is currently on the market.
These aforementioned factors would facilitate the growth opportunity for the Ice Hockey Apparel market, which is projected to rise at a CAGR of 4% in terms of value over the forecast period 2023-2033.
Key Takeaways from Market Study
- MR foresees Ice Hockey Apparel demand to reach US$ 488.95 Million in 2023
- From 2023-2033, Fact.MR expects Ice Hockey Apparel revenue to flourish at a 4% CAGR
- In 2033, Ice Hockey Apparel market worth is poised to reach US$ 723.76 Million
- North America is estimated to dominate the Ice Hockey Apparel market share with a growth rate of 4.7%.
- Ice hockey apparel market is anticipated to grow with a CAGR of 4% during the assessment period.
- Third party online channel segment by sales channel is expected to show higher growth rate during the forecast period.
“For manufacturers of ice hockey apparel, new growth opportunities are being opened up by consumer demand for buying products through a variety of online stores. The availability of top ice hockey apparel brands across e-commerce platforms has been gaining substantial momentum, even though sales through ice hockey product stores still have a strong influence on growth.” says an analyst at Fact.Mr.
Market Competition
Major players are channeling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market. Key players in the market are Adidas AG ,Bauer Hockey Inc. ,Don Simmons Sports Inc. ,Easton Hockey, Inc. ,Graf Skates AG ,Montreal-Tackla Hockey Company ,New Balance Inc. ,Sherwood Athletics Group Inc. ,Wm T. Burnett & Co., Inc. ,and Tecnica Group S.p.A.
- In October 2022, CCM Hockey, a leading designer, manufacturer and marketer of hockey equipment, announced that it has been named official equipment sponsor of the Professional Women’s Hockey Players Association (PWHPA) for the upcoming season. This new partnership aligns with CCM’s mission of supporting women’s hockey and growing the game at every level. The PWHPA is a nonprofit organization dedicated to advocating for the promotion of professional women’s ice hockey. Its membership comprises the world’s premier women hockey players. The organization aims to provide a united voice to players advocating for the creation of a sustainable professional league.
More Valuable Insights
Fact.Mr, in its new offering, presents an unbiased analysis of the global Ice Hockey Apparel market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights By Apparel Type (Jackets, Pants, Jersey/ T-Shirt, Cap, Socks, Apparel Accessories), By Buyer Type (Individual, Institutional, Promotional), By Sales Channel (Independent Sports Outlet, Franchised Sports Outlet, Modern Trade Channels, Direct to Customer Institutional Channel, Direct to Customer Online Channel, Third Party Online Channel), By Gender (Men, Women, Kids) & By Region.