The American Football market in Colombia has seen slow growth due to minimal adoption of digital technologies, lower consumer health awareness, and limited convenience of online services. Factors like lack of media coverage, limited merchandise availability, and high ticket prices also contribute to this slow growth rate.
Customer preferences: Over the years, there has been a growing interest in plant-based alternatives among consumers in Colombia and American Football Market. This can be partly attributed to the increasing awareness and adoption of sustainable and ethical living practices. Additionally, there has been a noticeable shift towards healthier and cleaner eating habits, resulting in a rise in demand for plant-based protein sources such as soy, tofu, and quinoa. This trend is further fueled by the growing number of individuals following vegetarian or vegan diets, indicating a shift towards more conscious consumption and lifestyle choices.
Trends in the market: In Colombia, American Football is gaining popularity among young people, with an increasing number of clubs and teams being established nationwide. This trend is significant as it reflects a growing interest in the sport and potential for future growth. Additionally, the rise of American Football in Colombia has led to partnerships with major US leagues, creating opportunities for cross-country collaborations. As a result, stakeholders in the American Football market, such as teams, players, and sponsors, can tap into new audiences and expand their reach. This trend also showcases the globalization of the sport and the potential for it to become a major player in the Colombian Sports market.
Local special circumstances:
In Colombia, American football is gaining popularity due to the countrys cultural diversity and love for sports. Unlike other markets, Colombia has a strong passion for both soccer and baseball, which has influenced the growth of American football. Furthermore, the geographical location of Colombia, with its diverse terrain and climate, provides a unique setting for the development of the sport. The governments support and investment in infrastructure and training programs have also played a vital role in fueling the growth of the American football market. This, coupled with the increasing accessibility of sports media and the rise of homegrown players, has created a unique dynamic in the Colombian American football market.
Underlying macroeconomic factors: The success of the American Football Market within the Sports Market in Colombia is influenced by various macroeconomic factors. These include global economic trends, national economic health, fiscal policies, and other financial indicators that impact the markets performance. For instance, a strong national economy can lead to increased consumer spending on sports events and merchandise, boosting the markets growth. On the other hand, unfavorable fiscal policies and economic instability can lead to a decline in market performance. Furthermore, demographic factors such as population size and age distribution also play a role in determining the markets growth potential.
Data coverage:
The data encompasses B2C and B2B revenues. Figures are based on media spending, merchandise spending, and ticket spending. All monetary figures for merchandise and tickets refer to consumer spending on goods or tickets in the respective segment, which can be online and offline.Modeling approach / Market size:
Market sizes are determined through a combination of bottom-up and top-down approaches, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per ticket, price on sport goods). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function or linear forecasting, as it fits the development of either strong growing markets or more sophistacted and saturated markets, such as soccer in Europe.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). We also account for the different cycles of international tournaments, such as world cups or continent cups. Consumer Insights data is reweighted for representativeness.
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