The rugby apparel market will register a CAGR of over 5% by 2023
NEW YORK, May 14, 2019 /PRNewswire/ -- About this market
Introduction of new rugby tournament is driving the growth of the market in forecast period. The growing interest in sports has a direct impact on the number of sports tournament. The launch of new tournaments in regions where rugby is not so popular will continue to drive the rugby apparel market in these countries. Hence these factors are expected to aid in driving the market growth. Analysts have predicted that the rugby apparel market will register a CAGR of over 5% by 2023.
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Market Overview
Growth in development programs of rugby unions
Globally the number of rugby players increased between 2007 and 2017. This significant increase in the number of players is boosting the growth of the global rugby apparel market and is expected to be mostly driven by the developments and services received from regional committees, which comprises a representative from each regional association.
Inconsistent raw material prices
Rugby apparel manufacturers are experiencing fluctuations in their profit margins, owing to the volatility in raw material prices and the increasing vendor competition. As the establishment costs are low, an influx of local players has been observed in recent times. the continuous challenge in vendors profit margins acts as a major challenge of the growth of the market.
For the detailed list of factors that will drive and challenge the growth of rugby apparel market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented and with the presence of several companies including Adidas AG and Grays of Cambridge (International) Ltd the competitive environment is quite intense. Factors such as the growth in development programs of rugby unions and introduction of new rugby tournament, will provide considerable growth opportunities to rugby apparel manufactures. Adidas AG, Grays of Cambridge (International) Ltd, Nike Inc., Pentland Brands Ltd., and Under Armour Inc. are some of the major companies covered in this report.
Read the full report: https://www.reportlinker.com/p05775105/?utm_source=PRN
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