In Bangladesh, the Sports market has seen slow growth due to factors such as lack of infrastructure, limited funding, and inadequate training programs. This is particularly evident in the sub-markets of soccer, American football, basketball, baseball, and cricket. However, rising interest and participation in these sports, coupled with increased government support, are expected to drive the overall market forward. Ongoing efforts to improve facilities and promote local talent are also crucial in stimulating growth. Despite the current negligible growth rate, the Sports market in Bangladesh holds great potential for development and expansion in the future.
Customer preferences: With the rise in disposable income and a growing middle class population in Bangladesh, there has been a notable increase in demand for premium and high-quality sports equipment and attire. Local and international brands are tapping into this trend by offering a diverse range of sports products tailored to the preferences of Bangladeshi consumers. This shift is also driven by the increasing awareness and participation in sports, as well as the desire for a healthier lifestyle among the youth population.
Trends in the market: In Bangladesh, the Sports market has seen a surge in e-sports, with online gaming growing in popularity among the youth. This trend has opened avenues for digital sports events and online betting, resulting in a significant boost in revenue for industry players. Additionally, there has been a heightened focus on promoting womens sports, leading to the establishment of womens leagues and increased investment in their development. This trend not only holds promise for gender equality in sports but also presents market growth opportunities for sports brands, sponsors, and broadcasters in the long run.
Local special circumstances: In Bangladesh, the Sports Market is heavily influenced by the countrys love for cricket and football. These are the two most popular sports in the country and generate a significant portion of the markets revenue. Additionally, Bangladeshs geographic location, with its rivers and coastline, provides a natural advantage for water sports and outdoor activities. This unique factor gives the Sports Market in Bangladesh a diverse range of offerings, catering to a wide range of interests and preferences. Furthermore, the countrys growing middle-class population is increasingly spending on sports-related activities, such as gym memberships and fitness equipment, leading to a burgeoning market for sports goods and services.
Underlying macroeconomic factors: In Bangladesh, the Sports Market has been heavily influenced by macroeconomic factors such as economic growth, government policies, and investments in sports infrastructure. As the country experiences steady economic growth, the middle class is expanding and leading to an increase in disposable income. This, along with the governments initiatives to promote sports, has led to a rise in demand for sports products and services. In addition, investments in sports infrastructure, such as stadiums and training facilities, have enabled the growth and popularity of sports in Bangladesh. Furthermore, with a young population and a growing interest in sports, the market is expected to continue to thrive in the coming years.
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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