Gymnastic Hoops Market to Record an Exponential CAGR by 2028

Published: Tue Sep 17 2019

Global Gymnastic Hoops Market Overview

Gymnastic hoops are generally used by gymnast to perform rhythmic gymnastics. Gymnastic hoops are apparatus often made of plastic or wood. Gymnastic hoops are circular in shape and are used for rolling around hand or body. Gymnastic hoops are also tossed, passed and swung through or over other hoops. The height of the gymnast determines the diameter of the hoop. The weight of gymnastic hoops generally exceeds 300 grams. As the popularity of the sports industry continues to proliferate, gymnastic hoops are all set to gain increased traction in the forthcoming years. 

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Global Gymnastic Hoops Market Dynamics

Gymnastics is a fast-growing activity, and a mounting number of individuals are participating in it across the world. According to the Gymnastics Trade Association, the participation in gymnastics among adult Americans has increased rapidly over the past few years. Over 1.6 million U.S. residents are engaged in gymnastics as a recreational activity, as well as a modern sport, in 2016, and the number has increased rapidly ever since. According to the U.S. Sports & Fitness Industry Association, the participation in gymnastics is expanding more due to the recreational aspects than the competitive ones. Gymnastics has become one of the most popular sports that is played across the world, as it has been included in the various prestigious international competitions including Olympics. Practicing gymnastics can help a child cultivate flexibility, movement skills, self-confidence and mental strength. Many countries are taking initiatives to attract kids and encourage them to participate in gymnastics, which may lead to a rise in the demand for gymnastic hoops in the near future. The Fédération Internationale de Gymnastique promotes programs for gymnastics, such as artistic gymnastics, aerobic gymnastics, acrobatic gymnastics and rhythmic gymnastics for all enthusiasts. Other affiliated member bodies also promote gymnastics in their respective countries through awareness programs, thus creating lucrative opportunities for gymnastic hoops manufacturers.

Realizing the advantages of gymnastics, regular gymnastics clubs are incorporating various activities in their facilities, which has significantly supported the sales of gymnastic hoops worldwide. Developing countries have registered more growth in the number of clubs and are likely to record a significant growth rate over the forecast period. Increasing participation and the number of competitive gymnastics events across the developing countries are likely to further propel the demand for gymnastic hoops in the forecast period.

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Global Gymnastic Hoops Market Segmentation

The gymnastic hoops market can be segmented on the basis of diameter, material type and sales channel. On the basis of diameter, gymnastic hoops can be further segmented as less than 60 cm gymnastic hoops, 60cm-80cm gymnastic hoops and more than 80 cm gymnastic hoops. On the basis of material, gymnastic hoops market can be further classified into plastic gymnastic hoops, metal gymnastic hoops and wooden gymnastic hoops. High demand for plastic gymnastic hoops can be seen in the forecast period. On the basis of sales channel, gymnastic hoops market can be further segmented as sports chain outlets, specialty stores and online channels. Although specialty sports outlets lead in terms of market share in the gymnastic hoops market, third-party online sales channel will register the highest growth rate for the global gymnastic hoops market in the forecast period.

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Global Gymnastic Hoops Market Regional Dynamics

In North America, gymnastics sport is among favorite sports across the sports enthusiast with the maximum number of participants in any national gymnastics championship, driving the demands for the gymnastic hoops in the region. Germany holds the maximum number of championship titles for the gymnastics sports, influencing the youth towards this sport. The rise in children participation is likely to impact the demand for the gymnastic hoops in the European region. Emerging economies like India and China, two most populated countries have immense potential for the gymnastic hoops due to the growing popularity and recognition through gymnastics sports and events in the region.

Global Gymnastic Hoops Market Competition Tracking

The global gymnastic hoops market consists of various global as well as domestic players. Some of the leading manufacturers of gymnastic hoops include K.R. Industries, Sport System S.r.l., THE SPORTS FACTORY INTERNATIONAL (TSFI), Gisco Sport, GOKISPORT and various other players.

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