Football Equipment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Football Equipment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The football equipment market is projected to register a CAGR of 3.5% during the forecast period (2022-2027).

The football equipment market is largely impacted, and revenues in the National Football League (NFL) took a downturn with the onset of the COVID-19 pandemic. The market is expected to take a long time to recover from the impact of the pandemic due to the lockdowns and travel restrictions associated with it. In 2020, The National Football League (NFL) lost USD 4 billion in revenues compared to 2019 due to the COVID-19 related lockdown restrictions worldwide. According to the Sports Business Journal report, the playoffs of the 16-game NFL in 2020 had limited or no fan attendance due to the pandemic.

The prominence of sports activities, owing to the health and wellness trends, the increasing influence of social media, celebrity endorsement, and the 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.

In line with the athleisure trend, consumers are increasingly seeking 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. The 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, the increase in government initiatives in various countries meant to improve sports participation has played 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 sports and physical activity initiatives over the next five years.

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 is a rise in women’s participation rate and government initiatives that are likely to boost the demand for the football equipment market in the region. Different governing football associations are offering multi-faceted support to increase women's participation rate. Thus, the growing adoption of football equipment by women indicates a positive effect on the market’s growth.

The 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, in order to expand their revenue base.

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