The Africa Basketball market has seen slow growth, influenced by factors such as limited media coverage, low demand for merchandise, and inadequate marketing of ticket sales. However, increasing interest in the sport, rising disposable income and investments in infrastructure could drive future growth.
Customer preferences: Recently, there has been an increase in the popularity of basketball in Africa, especially among the younger generation. This can be attributed to the NBAs efforts in growing the sport on the continent through partnerships and initiatives such as the Basketball Without Borders program. Additionally, there has been a rise in the demand for streetwear and fashion influenced by African cultures, leading to collaborations between sportswear brands and local artists and designers. This trend highlights the growing influence of African cultures on the global basketball market and the potential for it to drive new consumer preferences in the future.
Trends in the market: In Africa, the Basketball Market is witnessing a surge in popularity, with more local leagues and teams being established. This trend is fueled by the increasing presence of international basketball associations, such as the National Basketball Association (NBA) and FIBA, in the region. As a result, there is a growing interest in basketball among African youth, leading to a rise in participation rates. This trend is significant for industry stakeholders as it presents opportunities for brand expansion and development in this untapped market. Additionally, it could potentially bring about a rise in talent and competition, making Africa a significant contributor to the global basketball market.
Local special circumstances: In Africa, the Basketball Market is heavily influenced by local passion and interest in the sport, with fans often attending games in large gatherings. Additionally, the market is shaped by social and economic factors such as poverty and lack of access to facilities, which has led to the rise of street basketball culture. Furthermore, governmental support and investment in the sport has been growing, fostering the development of talented players and professional leagues. The unique combination of these factors creates a vibrant and growing Basketball Market in Africa.
Underlying macroeconomic factors: The Basketball Market within the Sports Market in Africa is impacted by macroeconomic factors such as economic stability, government support, and consumer spending patterns. Countries with favorable economic conditions and proactive government policies have a more developed and growing market. On the other hand, countries with high inflation rates and limited consumer spending power see a slower market growth. Additionally, global trends such as the popularity of the sport and rising interest in sports tourism also play a role in the growth of the African Basketball Market.
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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