Global football equipment market is expected to register a CAGR of 3.5% during the forecast period, 2019 to 2024.
- The prominence of sports activities, owing to health and wellness trends, the increasing influence of social media and celebrity endorsement and rise in the number of international sports events are encouraging consumers to enter into some of the other sorts of sports activities.
- Rising interest and participation rate in outdoor sports like football, increasing government initiatives to encourage participation in football, and rise in the number grassroots programs in schools, colleges, and clubs are some of the major factors driving the sales of football equipment globally.
- Manufacturers of football equipment are more focused on developing new and innovative products to fulfill the changing needs and demands of consumers by using advanced technologies. Vendors are introducing football shoes and protective gear that ensure a higher safety and comfort level. In addition, vendors are incorporating sensors in the shoes that help in measuring performance levels. These type of shoes are also used to measure the height of the jump, impact force between players, and rotational speed
Scope of the Report
Global football equipment market offers a range of products including football shoes, footballs, protective gear & accessories through offline and online retail stores. The study also covers the global level analysis of the major regions North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Key Market Trends
Rising Sports Participation Rate and Inclination Towards Healthy Lifestyle
In line with the athleisure trend, consumers are increasingly seeking for sports equipment that includes footwear, gloves, guards, etc. Additionally, the continued shift toward more active lifestyles is driving the demand for leisure activities such as running and cycling gears across the world. Importance of sports activities, foremost for health reasons, the increasing influence of celebrity endorsement, and international sports events are encouraging the involvement of consumers in various sports activities. Additionally, an increase in government initiatives in various countries, meant to improve sports participation, is playing a key role in driving the market in the last few years. For instance, the government of Australia is planning to invest USD 230 million in sport and physical activity initiatives over the next five years.
Increasing Demand for Football Equipment from Asia-Pacific
Asia-Pacific is the fastest growing region in the global football equipment market. China, Japan, Australia, India, and South Korea are some of the top contributing countries in the region. Moreover, these countries have started hosting many international level football tournaments, which, in turn, will increase the popularity and demand for football equipment. For instance, India hosted the FIFA World Cup 2018 for under – 17 category. In addition, there’s a rise in women’s participation rate and government initiatives that likely boost the demand for the football equipment market in the region. Different governing football associations are offering multi-faceted support to increase women participation rate. Thus, the growing adoption of football equipment by women indicates a positive effect on the market’s growth.
Global football equipment market is highly competitive. The market is dominated by players like adidas Group, Nike, Inc, Under Armour, PUMA SE, and New Balance.
- Companies are adopting competitive strategies by investing more to develop new generation technologies for the production of football equipment.
- Manufacturers are focusing on creating wider distribution channels, in order to cope with the rising competition and increasing consumer demand for sports and leisure equipment, globally.
- In addition, key players are focussing on online distribution channels for their online marketing and branding of their products, in order to expand their geographic reach and increase their customer base.
- Moreover, leading manufacturers in the market are focusing on leveraging opportunities posed by the emerging markets of Asia-Pacific, like Thailand and India, to expand their revenue base.
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