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Basketball Merchandise - Eastern Asia

Eastern Asia

Revenue in the Basketball Merchandise market is projected to reach US$33.79m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.72%, resulting in a projected market volume of US$36.79m by 2029.
In global comparison, most revenue will be generated in the United States (US$1,113.00m in 2024).
The average revenue per user (ARPU) in the Basketball Merchandise market is projected to amount to US$1.18 in 2024.
In the Basketball Merchandise market, the number of users is expected to amount to 11.1m users by 2029.
User penetration in the Basketball Merchandise market will be at 1.8% in 2024.

Market

Region

Region comparison

Currency

Analyst Opinion

The Basketball Merchandise Market in Eastern Asia has seen nominal growth due to limited fanbase and availability of counterfeit products. Low disposable income and lack of popularity among consumers are impacting the markets growth rate.

Customer preferences: The Eastern Asian market has seen a rise in demand for customizable and personalized basketball merchandise, as consumers seek to express their unique identities and style. This trend is fueled by a growing emphasis on individualism and self-expression, especially among younger generations. Additionally, with the increasing popularity of streetwear fashion, basketball merchandise has become a popular way for fans to showcase their love for the sport and their favorite teams. As a result, companies are investing in more diverse and customizable products to cater to this evolving consumer preference.

Trends in the market: In Eastern Asia, the Basketball Merchandise Market is seeing an increase in online sales of basketball merchandise, as e-commerce becomes more prevalent in the region. This trend is driven by the growing popularity of basketball in Eastern Asia, particularly in countries like China and Japan. This shift towards online purchasing of basketball merchandise has significant implications for industry stakeholders, as it allows for a wider reach and more targeted marketing strategies. Additionally, the rise of online shopping in Eastern Asia has also impacted the supply chain of basketball merchandise, with a greater emphasis on efficient and timely delivery.

Local special circumstances: In China, the Basketball Merchandise Market is heavily influenced by the countrys passion for basketball, with the sport being deeply embedded in the culture. This has resulted in the emergence of a strong fan base and a demand for quality merchandise. Additionally, Chinas growing middle class and increasing disposable income have also contributed to the markets growth. The countrys e-commerce boom has made it easier for consumers to access and purchase basketball merchandise, further driving the market. These unique factors set the Chinese market apart from others, making it one of the largest and most profitable in the world.

Underlying macroeconomic factors: The Basketball Merchandise Market within the Sports Market is heavily influenced by macroeconomic factors in Eastern Asia. Strong economic growth, rising disposable income, and increasing consumer spending are expected to drive market growth in this region. Additionally, favorable regulatory environments and government initiatives to promote sports and increase popularity of basketball further fuel the demand for merchandise. The growing popularity of basketball in this region, coupled with the rise of digital trends and e-commerce platforms, is also expected to positively impact the growth of the market. Furthermore, the presence of a large youth population, coupled with rising urbanization and changing consumer preferences, are expected to contribute to the expansion of the Basketball Merchandise Market in this region.

Methodology

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.