Football Market - Growth, Trends, and Forecasts (2023 - 2028)

Football Market - Growth, Trends, and Forecasts (2023 - 2028)

The Football Market is projected to register a CAGR of 3.8% during the forecast period.

The COVID-19 outbreak has significantly affected the market due to several national and international tournament closures worldwide. Some of these major events are the FIFA World Cup, UEFA Champions League, UEFA European Championship, Copa America, Copa Libertadores, UEFA Europa League, Africa Cup of Nations, etc. However, post-covid, the market is recovering fast, which is boosting the sales of sports products worldwide. During the pandemic, Nike, a major player in the sport, estimated a sales decline, but the company saw a big recovery in sales after the pandemic ended. According to the company, NIKE's annual revenues for 2022 were USD 46.71 billion, a 4.88% increase from 2021. In 2021, Nike's annual revenue was USD 44.538 billion, a 19.08% increase over the previous year. In 2020, Nike reported annual revenues of USD 37.403 billion, a drop of 4.38% from 2019's USD 39.628 billion.

Individuals are becoming increasingly involved in fitness and sports activities, which is driving the global market. As football's popularity increases and the number of young adults participating in football-related events increases, this trend is likely to continue. In addition, the products are readily available through online and offline organized retail channels, which is driving the market growth. In addition to the increased consumer expenditure on sports and recreation activities, continued product innovation, the growing use of fitness apps among health-conscious individuals, and extensive research and development (R&D) activities conducted by key players are some positive factors impacting this market.

The growing health consciousness among consumers is leading to the need to follow a healthier lifestyle. Consumers are engaged in several sports activities to maintain their health. The majority prefer outdoor games, such as football, as these outdoor sports activities require significant physical effort, thus enhancing the stamina levels of the players. Football also helps keep the body strong, flexible, and fit. It can also help avoid several health diseases and increase the mental stability of individuals. Therefore, being a complete workout package, the game is becoming popular among athletes, cricketers, and others. Moreover, government initiatives to promote football events are boosting people's interest in playing the sport, such as FIFA World Cup in Qatar 2022 is set to boost people's interest in the country. Such factors are driving the sales of football worldwide.

Additionally, an independent identity, FIFA Foundation promotes football to accomplish its social responsibility through its various programs, such as Foundation Community Programme, Recovery Programme, FIFA Legends Programme, Football for Schools Programme, Campus Programme, Refugee Programme, and Employee Volunteer Programme. In the post-COVID-19 world, the FIFA Foundation is using football to help reconnect society, promote and support mental health awareness, and help empower and inspire people to participate in football for a healthy mind and body. This, in turn, is increasing the football participation rate across the globe and aiding the growth of the global football market.

Europe has the largest football market. The increasing number of football participants and clubs strongly accelerated the demand for football among all age groups. Thus, this factor provides a great opportunity for foreign football manufacturing companies to expand their business in the region. Football clubs generate strong revenue due to an increasing number of individuals enrolling each year. Some of the most famous clubs in Europe include Real Madrid, Barcelona, Manchester United, Liverpool, Bayern Munich, and others. Furthermore, with growing women's participation in sports, including football, several women's football clubs are being introduced in Europe and other regions, training individuals to play professionally. With considerable sponsorships for the cause, women's clubs are becoming professional platforms, benefitting the sponsors and players.

The market studied is highly competitive due to the presence of several domestic and international players. The major players in the market, like Adidas and Nike, are innovating their footballs with abstract patterns and experimenting with the number of panels to give better stability to the ball. Introducing better products in the market will allow more consumers to buy price-worthy products rather than choosing low-standard balls at a lesser price. Owing to the growing football craze, customization of footballs for individual leagues and games is the newest way to attract customers. The manufacturers focus on developing better and more attractive balls to capture the market.

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