The Sports market in Canada has seen slow growth in recent years, influenced by factors such as changing consumer preferences and competition from other leisure activities. However, sub-markets like Soccer and American Football have shown steady growth due to increasing popularity and investments. On the other hand, the Baseball and Cricket markets have seen a decline due to lack of interest among Canadian audiences. Despite these challenges, the overall Sports market in Canada continues to be driven by the convenience and accessibility of online services for Basketball and other sports.
Customer preferences: Consumers in the Sports Market industry are increasingly prioritizing sustainability and ethical production practices when making purchasing decisions. This is particularly evident in the rise of eco-friendly and sustainable athletic apparel and gear. With a growing focus on personal health and wellness, there has also been a shift towards health-conscious and nutritious sports nutrition products. Additionally, the trend of active and outdoor lifestyles has contributed to the popularity of adventure and extreme sports, catering to adrenaline-seeking consumers.
Trends in the market: In Canada, the Sports Market industry is experiencing a growing interest in virtual and immersive sports experiences. Many sports teams and organizations are expanding into the world of esports and live streaming of games. This trend is closely linked to the rise of digital and social media, as well as the increasing availability of high-speed internet. As a result, there is a significant shift towards digital engagement and monetization strategies. Industry stakeholders should closely monitor these trends and adapt their strategies to cater to the evolving demands of consumers. Additionally, there is great potential for collaborations between traditional sports and esports to create unique and engaging fan experiences that can drive growth for the overall industry.
Local special circumstances: In Canada, the Sports Market has been heavily influenced by its geographical landscape and love for sports. With vast, open spaces and diverse terrain, outdoor sports such as ice hockey and skiing remain popular. However, the countrys multiculturalism has also led to a rise in popularity for sports with global appeal, such as soccer and basketball. In addition, the unique regulatory environment, including government funding and support for amateur sports, has contributed to the growth of the market and the development of top-notch athletes.
Underlying macroeconomic factors: The Sports Market market in Canada is heavily influenced by macroeconomic factors such as consumer spending and economic stability. With a strong national economy and high levels of disposable income, Canadians are willing to invest in sports-related activities and products. Additionally, favorable fiscal policies, such as government subsidies for amateur and professional sports organizations, have further boosted the growth of the market. Furthermore, the rising awareness and emphasis on physical fitness and overall wellness have also contributed to the expansion of the Sports Market in Canada.
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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