Volleyball Market Size, Share, Growth, and Industry Analysis, By Type (PU Surface Volleyball, PVC Surface Volleyball, Rubber Surface Volleyball, and Other Surfaces), By Application (Competition, Training, Recreational Activities, and Others), Regional Insights, and Forecast To 2031

Volleyball Market Report Overview

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The global volleyball market size was USD 263.8 million in 2021 and is expected to touch USD 366.41 million by 2031, exhibiting a CAGR of 3.3% during the forecasted period.

Volleyball is a ball game played in the open air in which an inflatable ball is used for the sport with teamwork in which a net separates two teams of six players each. The standard ball is constructed using leather or synthetic leather that weighs between nine and ten ounces, having a circumference of 25.6 to 26.4 inches. The ball has a rubber bladder with one color or a combination of several colors. The market is divided into type and application segments. PU, PVC, and rubber surface are the different varieties of the product.

Balls, shoes, protective equipment such as knee and elbow pads, and other equipment such as bags, posts, and cables are part of the equipment. The application segment comprises the competition, training, and recreational activities sectors. The rising demand for the balls post the pandemic will drive the product's market growth and share in the sports industry. The increasing importance given to the sport at the school, local, national, and international levels across regions is also a potential driver of the volleyball market. Thus, the market will boom exponentially, recording massive profits and sales soon.

COVID-19 Impact: Low Demand and Supply Chain Disruptions Impeded Market Growth

The global COVID-19 pandemic was unprecedented & staggering, with volleyballs experiencing lower-than-anticipated demand across all regions compared to the pre-pandemic times. The sudden spike in CAGR can be attributed to demand returning to pre-pandemic levels after the pandemic is over.

The low demand for the sport and equipment during the pandemic hindered the market's growth greatly as industries were shut down and production was halted across regions. The sudden closure of sports activities and low demand for the product heavily affected the manufacturers and producers as they incurred massive losses during the last two years. However, the product is gaining traction post the pandemic, which will drive the market share and growth of the industry.

LATEST TRENDS

"Expansion of Manufacturing Sector to Aid Market Share"

The expansion of the production sector and the introduction of various national and international leagues and tournaments worldwide are the driving factors of the market. The rising trend for durable balls with improved features, the increasing number of female players in outdoor activities, and the growing adoption of the sport in corporate programs are some of the significant and essential factors that will augment the growth of the volleyball market. Thus, these latest trends will drive the market share of the industry.

Volleyball Market Segmentation

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• By Type

The market is categorized based on types into PU surface, PVC surface, rubber surface, and other surface volleyballs.

• By Application

The market is subcategorized into the competition, training, recreational activities, and others based on applications.

DRIVING FACTORS

"Technological Innovations in Manufacturing to Lead Market Growth"

The advent of 3D-printed shoes, the growing popularity of sand or beach versions of the game, and the emergence of eco-friendly sports equipment will further generate massive opportunities in the market that will lead to the growth of the sector in the forecasted period of the report. An endeavor by developing countries such as China and India will aid the volleyball market growth as these regions expand their production capacities at reasonable rates for investors worldwide.

"Rise in Popularity and Importance of the Sport to Drive Market Growth"

The increasing popularity of the sport at the school and national level in regions such as North America will drive the industry's market growth significantly. The rising participation of females and young children will drive growth as the demand for equipment such as knee and shoulder pads and practice balls increases in the American continent. Schools' emphasis on pursuing the sport and thus the equipment required in large quantities will lead to the industry's market share and growth.

RESTRAINING FACTORS

"Slump in Market Demand due to Rising Raw Material Prices to Hamper Growth"

The decreasing use of equipment, except for the ball and the pandemic's impact on the product's production and consumption side, will be a restraining factor for the growth of industry in the forecast period. The rising raw material prices due to ongoing tensions in Europe will increase the costs. Furthermore, a lower fan base and the sport's less popularity than other ball sports in developing countries will become the most significant challenge hampering the market's growth.

Volleyball Market Regional Insights

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"North America to Lead Market Share Owing to Innovations and Expansion"

The North American region will lead the volleyball market share as innovations in the industry attract customers and players to demand the sport equipment in huge quantities. The U.S. will lead the growth and share of the industry as the most significant manufacturing giants are based in the region. Increasing demand by basketball leagues and teams in Canada will also aid the market rise and an expanding market share and profits for manufacturers in the region. Thus, these factors will lead to an exponential boom in the industry.

KEY INDUSTRIAL PLAYERS

The report analyzes various market players in the industry, and the information is published after proper research, analysis of trends, key developments, new initiatives, and technological developments and innovations. The report also includes thorough research on companies, regions, technical and environmental outcomes, and newly emerging industries' impact and risks. The study considers all the points after a comprehensive analysis, thus generating future possibilities for the market. Therefore, the factors mentioned in the report are subject to change as the dynamics and situation of the market change.

LIST OF TOP VOLLEYBALL COMPANIES

• Mikasa (Japan)
• Molten (Japan)
• Tachikara (U.S.)
• Wilson (U.S.)
• Spalding (U.S.)
• STAR (India)
• Under Armour (U.S.)
• Baden (U.S.)
• Lanhua (China)
• LeeSheng (China)
• Train
• Li-Ning (China)

INDUSTRY DEVELOPMENT

• May 2022: Wilson Sporting Goods, the U.S.-based company, has expanded its headquarters to New York City, thus expanding its market base in the country as it will offer a variety of equipment for all sports, including volleyball. This development will help the company sustain its position as a leading sports equipment manufacturing company in the North American region.

REPORT COVERAGE

The report examines elements that affect the demand and supply factors and estimates dynamic market forces for the forecast period. It also offers drivers, restraints, the latest trends, and critical industrial developments. After evaluating the market factors, the report provides an extensive SWOT analysis. The research is subject to alteration if leading players and analysis of market dynamics change. The information estimates the factors mentioned, taken into consideration after thorough research. The report also provides information on segmentation, key industry developments, and an analysis of risks in the production industry.