Volleyball market size is USD 0.415 billion in 2023 and will grow at a CAGR of 7.20% from 2023-2030: Cognitive Market Research
Introduction of The?Volleyball Market
According to Cognitive Market Research, the global Volleyball market size is USD0.415 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 7.20% from 2023 to 2030. Volleyball is a kind of Inflatable ball used in team sports in which two teams of six players are separated by a net. The ball used in volleyball is made of sheepskin or artificial leather. The introduction of many new national and international leagues and tournaments and growth within the range of recreational players trying to find health edges related to sports activities. The increasing range of kids collaborating in sports activities is collectively one of the prime reasons driving the volleyball instrumentation market growth.
In June 2022, ASICS launched the latest version of its popular volleyball/indoor shoes, which are designed to enhance the performance of athletes and improve their speed.
Key Insights from Volleyball Market Report
The Global Volleyball market size is USD 0.415 billion in 2023 and will grow at a CAGR of 7.20% from 2023 to 2030.
Growing Popularity and Participation Rates to Provide Viable Market Output
One key driver in the Volleyball market is the sport's increasing popularity and rising participation rates globally. Volleyball has become a widely embraced recreational and competitive activity, attracting a diverse demographic of players. The growth of volleyball as a preferred sport for both casual and organized play contributes significantly to the demand for volleyball equipment, apparel, and related products. The sport's inclusive nature, relatively simple setup, and versatility for indoor and beach play make it accessible to a broad audience, fostering a continuous market expansion.
In 2019, the WilsonLABS team partnered with AVP pros to launch Wilson’s newest beach volleyball, the OPTX AVP. While developing this new ball, the company focused on overcoming the most significant variable of playing volleyball on a beach: visibility.
The growth of e-commerce and online retail has significantly impacted the Volleyball market. Consumers now have easy access to a wide range of Volleyball from the comfort of their homes. Online platforms offer convenience, product variety, and reviews, allowing shoppers to make informed choices. This shift in shopping behavior has fueled market expansion, making Volleyball more accessible to a global audience, thereby contributing to increased sales and brand awareness within this niche market.
In November 2018, Mikasa and the FIVB presented the new ball “V200W” for indoor volleyball as part of a collaboration between these two organizations.
Market Dynamics of the?Volleyball
A key restraint in the Volleyball market is the limited global standardization in terms of rules, equipment specifications, and league structures. Varying standards across different regions can create challenges for manufacturers, organizers, and players. Lack of uniformity may lead to difficulties in marketing and selling standardized volleyball equipment worldwide, affecting the efficiency of supply chains and creating obstacles for international competition. The absence of a consistent global standard hampers the smooth development and expansion of the Volleyball market on a broader scale.
Impact of COVID-19 on the?Volleyball Market
The COVID-19 pandemic has significantly impacted the Volleyball market, disrupting both professional and amateur levels of play. The widespread cancellations and postponements of sports events, including volleyball tournaments and leagues, led to a decline in the demand for volleyball equipment, apparel, and related products. Closure of sports facilities, gyms, and recreational spaces during lockdowns further hindered participation in volleyball, affecting the sales of gear.
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Competitive Landscape of the Volleyball Market
The Competitive Landscape of the Volleyball market is characterized by a diverse and competitive ecosystem involving key players, manufacturers, and retailers vying for market share in the global sports equipment industry.
Volleyball Industry News:
Top Companies Market Share in Volleyball Industry:
Volleyball Market Analysis
Type Segment Analysis:
According to Cognitive Market Research, PU surface volleyballs emerge as the dominant category in the Volleyball market due to their superior performance characteristics and widespread use in professional and competitive settings. PU (polyurethane) surfaces provide excellent durability, grip, and consistent playability, making them the preferred choice for serious players and enthusiasts. The demand for high-quality volleyball equipment, especially those designed for professional play, propels the dominance of PU Surface Volleyballs.
The fastest-growing category in the volleyball market is represented by PVC surface volleyballs. PVC (polyvinyl chloride) surfaces offer a cost-effective alternative without compromising on performance, making them increasingly popular among recreational players, schools, and amateur leagues. The affordability and versatility of PVC Surface Volleyballs contribute to their rapid adoption, driving market growth.
Application Segment Analysis:
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Asia-Pacific Volleyball Market?share was 35% of the total market
According to Cognitive Market Research, the Asia-Pacific region emerges as the fastest-growing hub, commanding an impressive 35% market share and exhibiting a robust market size of USD 0.15 billion in 2023. The region's overview is characterized by a burgeoning population, rising disposable income, and a growing enthusiasm for sports, contributing to the escalating demand for volleyball equipment and related products. One notable segment gaining prominence in this region is High-Performance Volleyballs, reflecting the aspiration for superior quality products among professional and amateur players alike. In conclusion, Asia-Pacific's dominance in the Volleyball market underscores its pivotal role in shaping the global landscape, driven by a confluence of demographic factors and the region's increasing passion for volleyball. With a substantial market share and size, Asia-Pacific stands at the forefront of the industry's growth, indicating its significant influence on the evolving dynamics of the Volleyball market.
North America takes the lead as the fastest-growing region, commanding an impressive 30% market share and exhibiting a robust market size of USD 0.12 billion in 2023. The region's overview is characterized by a well-established sports culture, a high level of disposable income, and a growing emphasis on fitness and recreational activities. One notable segment gaining prominence in this region is Smart Volleyball Equipment, reflecting the technological integration and increasing demand for connected sports gear. In conclusion, North America's dominance in the Volleyball market underscores its pivotal role in steering the industry's growth trajectory, driven by a combination of cultural affinity towards sports, technological innovation, and a robust market demand. With a substantial market share and size, North America stands at the forefront of influencing the evolving dynamics and trends in the global Volleyball market.
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