The Basketball market in Bangladesh is experiencing slow growth, impacted by factors such as limited digital infrastructure, low consumer health awareness and the dominance of traditional forms of sports media, merchandise and ticket sales.
Customer preferences:
Consumers in Bangladesh have shown a growing interest in basketball, with an increase in the popularity and participation of the sport in recent years. This can be attributed to the rise of local basketball clubs and leagues, as well as the influence of international players and tournaments. Additionally, the incorporation of basketball into school and community programs has also contributed to its growing appeal. With a strong focus on physical activity and recreation, basketball is becoming a preferred sport for individuals of all ages and backgrounds in Bangladesh. This trend is indicative of a shift towards healthier lifestyles and a desire for diverse forms of entertainment in the country.
Trends in the market: In Bangladesh, the Basketball Market is witnessing a surge in popularity, especially among the youth. With the rise of social media and digital platforms, basketball has become more accessible and widely followed. This trend is expected to continue, with the market projected to grow significantly in the coming years. This has significant implications for industry stakeholders, such as sports brands and teams, who can tap into this growing market for sponsorship and partnerships. Moreover, the availability of live streaming and e-commerce platforms has made it easier for fans to engage with the sport, providing new opportunities for revenue generation.
Local special circumstances: In Bangladesh, the Basketball Market has seen slow growth due to the countrys underdeveloped sports infrastructure and cultural preference for cricket. However, the rise of the countrys middle class and increasing exposure to global sporting events have sparked a growing interest in basketball among the youth. Additionally, the governments initiatives to promote sports and the development of modern facilities have created a fertile ground for the growth of the basketball market. This has also led to a surge in the popularity of local tournaments and the emergence of homegrown basketball talent. Furthermore, as Bangladesh is a densely populated country, the sports popularity has also been boosted by the ease of access to local basketball courts and the development of a vibrant street basketball culture.
Underlying macroeconomic factors:
The growth of the Basketball Market within the Sports Market in Bangladesh is influenced by macroeconomic factors such as consumer spending, government investments, and global sports trends. With a growing economy and increasing disposable income, consumers are more willing to spend on sports activities and related products. The governments focus on promoting a healthy and active lifestyle through sports initiatives also plays a significant role in driving market growth. Additionally, the popularity of basketball at a global level further stimulates the interest and demand for the sport in Bangladesh, leading to potential opportunities for market expansion.
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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