Lacrosse Sticks Market is Anticipated to Witness High Growth Owing to Rising Popularity of Lacrosse Sports
Lacrosse Sticks Market is Anticipated to Witness High Growth Owing to Rising Popularity of Lacrosse Sports
Blog Article
Lacrosse sticks, also known as crosse or lacrosse rackets, are essential equipment used in the field lacrosse game. Lacrosse sticks consist of a head, throat, and shaft. The head is strung with leather or synthetic material that allows for effective catching, carrying, and throwing of lacrosse balls down the field. Lacrosse sticks come in various pocket depths and designs suited for different players, such as offensive players, defensive players, and goalies. The growing popularity of lacrosse among amateur and professional players has significantly boosted the sales of lacrosse sticks in the past decade.
The global lacrosse sticks market is estimated to be valued at US$ 550 million in 2024 and is expected to exhibit a CAGR of 4.4% over the forecast period 2024.
Key Takeaways
Key players operating in the lacrosse sticks market are Brine, Warrior, Maverik, STX, and Under Armour.
Key players related content comprises key players related content. Key players operating in the lacrosse sticks are Brine, Warrior, Maverik, STX, and Under Armour. These players are focusing on developing innovative sticks with quick release rims, high-quality strings, and adjustable pocket designs. For instance, in 2022, Maverik launched Hyperdymium Ultra Lacrosse Sticks with a redesigned triangular sidewall and low-profile rail construction for quick-release and explosive power.
The lacrosse sticks market provides ample Lacrosse Sticks Market Growth opportunities, such as the increasing participation of female players. Girls' and women's lacrosse participation rates have grown exponentially worldwide over the past decade. According to sources, in the US, female participation increased by over 243% from 1998 to 2008 and is expected to rise further with initiatives by colleges, schools, and international lacrosse federations.
Key players are focusing on expanding their geographic footprint, especially in Asia Pacific and European nations. Companies are investing in partnerships with national lacrosse federations to promote the game and increase consumer base in underpenetrated markets like China, Japan, Germany, and Italy. For example, in 2021, Under Armour partnered with Sports Innovation Lab to promote lacrosse in China and drive the long-term growth of the game.
Market Drivers
Increasing mainstream adoption of lacrosse in the US, copyright, and other countries is a key driver of lacrosse sticks market growth. According to sources, lacrosse participation rates increased over 230% between 2008 to 2018 in the US alone. With more people playing the game, lacrosse stick sales are rising.
Market Restraints
High equipment and gear costs pose a major challenge for the mass adoption of lacrosse globally, especially in underpenetrated regions. A complete set of high-quality lacrosse gear, including sticks, helmets, gloves, and protective equipment, can cost over $300, restricting the entry of new players from lower-income groups. However, market players are making efforts to make equipment more affordable which can help overcome this restraint.
Segment Analysis
The Lacrosse Sticks Market Regional Analysis can be segmented based on product into beginner, intermediate, and advanced sticks. The beginner sticks segment currently dominates the market as a large number of people are just starting out to play lacrosse. Beginner sticks are more affordable and durable than intermediate and advanced sticks, making them suitable for new players.
The lacrosse sticks market can also be segmented based on distribution channel into specialty stores, department stores, online retail, and others. The specialty stores segment holds a majority share as these stores stock a wide assortment of products from various brands. The staff at specialty stores also have expertise that can help buyers choose the right sticks.
Global Analysis
North America is the largest and fastest growing regional market for lacrosse sticks. The United States accounts for the bulk of the North American market due to the widespread popularity of lacrosse among high schoolers and collegiate players. According to the National Federation of State High School Associations, the number of boys and girls participating in U.S. high school lacrosse has nearly doubled over the last decade.
Market growth is also driven by the penetration of lacrosse into new states, especially along the western coast of the United States. Europe is another major lacrosse sticks market, led by countries like the United Kingdom, Germany and Ireland where the sport has gained traction over the years. Asia Pacific is expected to witness fastest growth during the forecast period supported by initiatives to promote lacrosse in countries like Japan, China and India.
Get more insights: Lacrosse Sticks Market
For More Insights Discover the Report In language that Resonates with you
About Author:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
copyright src="chrome-extension://fpjppnhnpnknbenelmbnidjbolhandnf/content_script_web_accessible/ecp_regular.js" type="text/javascript"> Report this page