Basketball Merchandise - Bahrain

Bahrain

Highlights

Revenue in the Basketball Merchandise market is projected to reach US$146.40k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.23%, resulting in a projected market volume of US$163.40k by 2029.
In global comparison, most revenue will be generated United States (US$1.11bn in 2024).
The average revenue per user (ARPU) in the Basketball Merchandise market is projected to amount to US$6.07 in 2024.
In the Basketball Merchandise market, the number of users is expected to amount to 7.7k users by 2029.
User penetration in the Basketball Merchandise market will be at 1.6% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Basketball Merchandise market in Bahrain has seen minimal growth, influenced by factors such as limited consumer interest and the presence of traditional retail methods. However, with the growing popularity of the sport in the region, there is potential for growth in the future.

Customer preferences: With the growing popularity of online shopping and e-commerce in Bahrain, the Basketball Merchandise Market within the Sports Market has seen a significant shift towards online purchasing. This is attributed to the convenience and accessibility of online shopping, as well as the availability of a wider range of products. Additionally, with the increasing use of social media and digital platforms, there has been a rise in influencer marketing, where consumers are influenced to purchase specific basketball merchandise endorsed by their favorite athletes or celebrities. This trend is expected to continue as digitalization becomes even more prevalent in Bahrains consumer market.

Trends in the market: In Bahrain, the Basketball Merchandise Market of the Basketball Market within the Sports Market is experiencing a surge in demand for personalized and authentic merchandise. Fans are increasingly looking for unique and customized products, such as jerseys, with their favorite players names and numbers. This trend is driven by the growing popularity of the sport in the region, as well as the increasing preference for exclusive and limited edition items. Consequently, industry stakeholders such as retailers and sports brands need to capitalize on this trend by offering a diverse range of personalized products to remain competitive in the market. Additionally, this trend also presents opportunities for collaboration between local businesses and international sports brands to create unique and region-specific merchandise.

Local special circumstances: In Bahrain, the basketball merchandise market is influenced by the small size of the country, limiting the number of physical stores that can carry basketball merchandise. This has led to the popularity of online retail platforms for purchasing basketball merchandise, providing convenience for customers. Additionally, the strong presence of expat communities from basketball-crazed countries like the United States and the Philippines has also contributed to the growth of the market in Bahrain. These expats bring their love for basketball and demand for merchandise, creating a unique dynamic in the market.

Underlying macroeconomic factors: The Basketball Merchandise Market in Bahrain is greatly affected by macroeconomic factors such as the countrys economic stability, government policies, and consumer spending power. The overall growth of the Sports market in Bahrain is closely tied to the nations overall economic health, as a stable economy promotes increased consumer confidence and higher purchasing power. Furthermore, favorable fiscal policies, such as tax incentives and subsidies for local businesses, can positively impact the growth of the Basketball Merchandise Market. Conversely, economic downturns and changes in government policies can have a detrimental effect on the market, leading to decreased consumer spending and decreased demand for basketball merchandise. Moreover, global economic trends, such as shifts in consumer preferences and changes in trade agreements, can also significantly impact the performance of the Basketball Merchandise Market in Bahrain.

Data coverage:

The data encompasses B2C revenues. Figures are based on merchandise spending. All monetary figures refer to consumer spending on goods 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.