Date: Apr 2023
Date: Apr 2023
The Market Statsville Group (MSG) publishes the new report on the "Cornhole Bag Tosses Market by Product Type (Bag, Board, and Set), by Mode of Playing (Professional and Recreational), by Gender, by Age Group (Kids (Below 14), Young Adults (15-24), Adults (25+)), by Income Group, by Distribution Channel, and by Region – Global Share and Forecast to 2033
According to the Market Statsville Group (MSG), the global Cornhole Bag Tosses market size is expected to grow at a CAGR of 8.6% from 2023 to 2033.
The cornhole bag tosses are not just a backyard game played with family and friends. It has evolved over a decade and turned out to be a sports activity. Various tournaments and events occur where people register for the tournament day and practice alone or with their teams. The cornhole fandom is growing rapidly. With the increasing fandom of cornhole bag tosses, major market players, clubs, and governing authorities conduct different types of cornhole bag tosses events in which people participate at the mass level. This, in turn, works as a marketing strategy for market players operating in the market to spread awareness among people at a large level.
Further, conducting such events or tournaments showcases governments’ contribution to public health and welfare. Such factors will contribute to the growth of the market. And in order to conduct events or practice for the tournament, the demand for the cornhole bag tosses set will automatically increase. Thus, fueling the growth of the cornhole bag tosses market over the forecasting period across the country.
In addition, the trend of cornhole bag tosses has been growing day by day over the decades, leading to the formation of various national tournaments and different organizations to manage it both online and offline. For instance, American Cornhole League ("ACL") promoted and developed cornhole as a sport on every level and created software and apps to manage cornhole leagues, special events, tournaments, and player development. Similarly, the American Cornhole Organization (ACO) is, governing body for the sport of cornhole. This results in growing popularity of the game and spreading awareness among more and more people to try the game and enjoy it as a recreational activity. This will further pave the way for the market's growth over the forecasting period.
The overall cornhole bag tosses market has been segmented into product type, gender, mode of playing, income group, age group, distribution channel and region.
Online segment is expected to grow at the highest CAGR of 10.5% during the forecast period. The trend of online shopping has been increasing in recent years, and the cornhole bag tosses market is no exception to this. Consumers increasingly turn to online platforms to buy their favorite cornhole bag tosses products. This can be attributed to the convenience of online shopping, which allows consumers to browse and purchase products from the their homes or offices. In addition, online shopping offers a wider range of options, allowing consumers to compare products, read reviews, and make informed purchasing decisions. The growing popularity of online shopping led to the emergence of several e-commerce platforms that specialize in cornhole bag tosses products, offering consumers a one-stop shop for all their cornhole bag toss needs. The ease of payment and delivery options these platforms provide has further accelerated the growth of online cornhole bag tosses sales. As a result, the cornhole bag tosses market is expected to witness a significant increase in online sales in the coming years.
Asia Pacific is expected to grow significantly in the cornhole bag tosses market. The cornhole bag tosses market is gaining popularity in Asia due to the increasing interest in outdoor games and recreational activities. The rise in disposable income and growing interest in sports activities among the young population are some factors driving the growth of the cornhole bag tosses market in this region. Furthermore, the increasing number of sports clubs and organizations promoting the game, coupled with the availability of quality cornhole bags and boards, has also boosted the market growth in the region. Many players in the Asia Pacific region are now looking to invest in high-quality equipment, including cornhole bags and boards, to improve their skills and enhance their gaming experience.
This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the cornhole bag tosses market. It also consists of the profiles of leading companies such as Franklin Sports Inc., Baden Sports, Custom Cornhole Boards Incorporated, Trademark Global, LLC, ABG-Sportcraft LLC., Victory Tailgate, GoSports (PlayGoSports.com), EastPoint Sports, Cornhole America, and Ultra Cornhole - Vorticy, Inc. The key players' growing research and development activities for innovative solutions are expected to drive market growth.
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