Football Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Football Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global football equipment market is projected to grow at a CAGR of 3.5%, during the forecast period.

Key Highlights

• The prominence of sports activities, owing to the 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, are increasing government initiatives to encourage participation in football. The rise in the number of grassroots programs in schools, colleges, and clubs are some of the major factors driving the sales of football equipment globally.

Key Market TrendsRising Sports Participation Rate and Inclination toward 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 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.

Competitive Landscape

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 up 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, in order to expand their revenue base.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Adidas AG
Nike Inc.
Under Armour Inc.
MIZUNO Corporation
Lotto SpA
New Balance, Inc
ASICSCorporation
PUMA SE

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