According to a new report published by Allied Market Research, titled, The global football market size was valued at $1,883.6 million in 2019. 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. Europe was the highest contributor to the market and is estimated to grow at a CAGR of 17.7% during the forecast period.
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.
Rise in trend of football has built global recognition. This popularity has opened a way for more new job opportunities. Available jobs in this field include professional athletes, coaches, and team managers. Consequently, this motivates passionate players to choose football as a career option. In addition, such job opportunities are expected to guide and direct careers of professional football players.
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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.
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.
Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, Spain, Italy, France, Russia, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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.
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Key Findings Of The Study
? On the basis of type, the training football segment is projected to witness the higher growth rate during the forecast period.
? On the basis of manufacturing process, the hand stitched segment is expected to dominate the market from 2021 to 2027.
? On the basis of distribution channel, the offline segment is expected to grow at a significant 17.7% CAGR during the forecast period.
? On the basis of region, Europe is the highest contributor to the global football market growth
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