The Baseball market in Peru is seeing minimal growth due to factors such as lack of media coverage, limited availability of merchandise and high ticket prices. Despite a strong fan base, the market is hindered by limited accessibility and affordability, leading to stagnant growth.
Customer preferences:
In recent years, there has been a noticeable increase in the popularity of youth baseball in Peru, indicating a growing interest in the sport. This could be attributed to cultural influences from neighboring countries where baseball is already a well-established national pastime. Additionally, as the population becomes more urbanized and exposed to Western influences, the demand for American sports such as baseball has also increased. This trend is likely to continue, as the countrys economy and middle class continue to grow, providing more disposable income for youth to participate in organized sports.
Trends in the market: In Peru, there is a growing trend of incorporating traditional Peruvian textiles and designs into baseball apparel and equipment. This trend is significant not only for promoting Peruvian culture, but also for creating unique and desirable products for the baseball market. As a result, industry stakeholders are exploring partnerships with Peruvian textile companies and local baseball leagues to capitalize on this trend. This trajectory has the potential to not only increase the diversity of products in the baseball market, but also to boost the Peruvian economy by showcasing its textile industry on a global platform.
Local special circumstances: In Peru, the Baseball Market stands out thanks to the countrys strong passion for sports and its growing middle class, which has shown a growing interest in baseball in recent years. Additionally, Perus location in South America allows for easy access to other Latin American countries, providing opportunities for international collaborations and tournaments. Moreover, Perus cultural heritage, with its indigenous roots and Spanish influences, adds a unique aspect to the Baseball Market and its fan base. These factors contribute to the markets current growth and potential for further expansion.
Underlying macroeconomic factors: The growth of the Baseball Market within the Sports Market in Peru is influenced by macroeconomic factors such as overall economic growth, consumer spending and buying power, government policies, and trade policies. Perus strong economic growth and increasing disposable income have contributed to the growth of the Baseball Market. The countrys favorable trade policies, such as the free trade agreement with the United States, have also facilitated the growth of the Baseball Market by enabling easier access to equipment and apparel. Additionally, the rise in popularity of baseball as a leisure activity has further driven the demand for baseball equipment and merchandise in Peru.
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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