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Football Market
According to the global football market, it is segmented into product type, manufacturing process, distribution channel, and region.
Increase in popularity of sports and fitness and rise in adoption of extracurricular activities drive the growth of the global football market.” — Roshan Deshmukh
5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, September 19, 2022 /EINPresswire.com / -- According to a new report, 'Football market by Product Type, Manufacturing Process, and Distribution Channel: Global Opportunity Analysis and industry Forecast 2021–2027'. The global football market size was valued at $1,883.6 million in 2019. Furthermore, according to the global football market forecast, it is projected to reach $3,712.7 million by 2027, registering a CAGR of 18.3% from 2021 to 2027.
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Increase in popularity of sports and fitness, rise in adoption of extracurricular activities, and surge in influence of sports celebrities on youth through social media drive the growth of the global football market. On the other hand, negative impact of virtual games and easy availability of counterfeit products impede the growth to some extent. However, emergence of butyl bladder in footballs is expected to create multiple opportunities in the industry.
Rise in participation of women and kids is adding in growth of the global football market share. Rise in participation is attributed to increase in football clubs and associations. These clubs organize football leagues at national or international levels. Furthermore, promotion of football leagues lead to popularity of the sport. This popularity drives women and kids to participate in the football game. Moreover, celebrity endorsement and aggressive advertisement also promote participation in football. Thus, football clubs and association play a vital role in the global football market trends.
According to the global football market, on the basis of type, the training ball segment was the highest contributor to the market. It was valued at $981.0 million in 2019, and is projected to reach $1,806.5 million by 2027, registering a CAGR of 18.9% from 2021 to 2027. The growth is attributed to increase in popularity of the sport.
On the basis of manufacturing process, the hand stitched segment was the highest contributor to the market. According to the football market analysis, hand stitched segment is estimated to reach $2,104.1 million by 2027, at a CAGR of 18.5%. The growth is attributed to the fact that hand stitched footballs are durable and are high in quality.
On the basis of distribution channel, the offline segment was the highest contributor to the market, with $1,693.1 million in 2019. It is estimated to reach $2,876.8 million by 2027, at a CAGR of 17.7%. The offline segment provides products instantly to customers. Furthermore, in offline stores physical examination of products can be done. Through this choosing right product becomes easy, which in turn propels the segment growth.
Region-wise, Europe has gained considerable traction in the football market, and is expected to grow at the highest CAGR of $17.7 during the forecast period. Sponsors fund advertisements and leagues. This sponsorship promotes both, sponsor company and football events within this region. Major sponsor brands in football leagues such as FIFA and UEFA Champions League are Adidas AG, Qatar Airways, and Coca-Cola. Europe was the highest contributor to the market and is estimated to grow at a CAGR of 17.7% during the forecast period.
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Key players in the industry have relied on strategies such as product launch and business expansion to expand their stance in the global market to stay relevant to maintain the global football market trend. The key players in the global football companies profiled in the report are Adidas AG, Baden Sports, Decathlon Sports Pvt. Ltd., Franklin Sports Inc., Mitre International, Nike Inc., Puma SE, Select Sports A/S, UMBRO, and Wilson Sporting Goods.
Key Benefits For Stakeholders:
○ The report provides a quantitative analysis of the current global football market trends, estimations, and dynamics of the global market from 2021 to 2027 to identify the prevailing opportunities.
○ Porter's five forces analysis highlights potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
○ In-depth analysis and the market trends and segmentation assists to determine the prevailing global football market opportunities.
○ The major countries in each region are mapped according to their revenue contribution to the market.
○ The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry.
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○ Recognize newcomers with potentially strong product portfolios and devise effective counter-strategies to acquire a competitive edge.
○ To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors.
Related Report:
○ Football Sportswear Market Registering At A CAGR of 5.3% from 2021-2027
○ Sports Events Market is projected to reach $609.07 billion by 2031
○ Sport Socks Market Will Show An Increase Of By 2027, Report
○ Sports Training Market
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