Basketball Merchandise - Western Africa

Western Africa

Highlights

Revenue in the Basketball Merchandise market is projected to reach US$2.48m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.73%, resulting in a projected market volume of US$2.97m 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$3.80 in 2024.
In the Basketball Merchandise market, the number of users is expected to amount to 184.9k users by 2029.
User penetration in the Basketball Merchandise market will be at 0.2% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Basketball Merchandise Market in Western Africa is experiencing minimal growth, influenced by factors such as limited disposable income, low popularity of basketball in the region, and lack of advanced retail options. However, with the rising interest in sports and increasing disposable income in the region, the market is expected to pick up pace in the coming years.

Customer preferences: Consumers in Western Africa are displaying a growing interest in authentic and locally-made basketball merchandise, as they seek to connect with their cultural roots and support their communities. This trend is also reflected in the rising popularity of African diaspora athletes in the global basketball scene. Additionally, the increasing access to social media and e-commerce platforms has enabled fans to easily connect with and purchase merchandise from their favorite players, contributing to the growth of the basketball merchandise market in the region.

Trends in the market: In Western Africa, the Basketball Merchandise Market is experiencing a surge in popularity, particularly in countries like Nigeria and Senegal. This can be attributed to the growing popularity of basketball as a sport, with more young people aspiring to become professional players. As a result, there is an increasing demand for basketball merchandise such as jerseys, sneakers, and other memorabilia. In addition, there is a rise in e-commerce platforms selling basketball merchandise, making these products more accessible to fans and enthusiasts. This trend is expected to continue in the coming years, providing opportunities for industry stakeholders to tap into this growing market.

Local special circumstances: In Western Africa, the Basketball Merchandise Market has seen steady growth due to the regions growing interest in basketball and the sports increasing popularity among youth. However, challenges such as limited access to technology and infrastructure have hindered the markets potential. Additionally, cultural and traditional norms in certain countries may limit the acceptance and adoption of certain types of merchandise. These factors must be considered when entering the market and developing strategies to cater to the local populations preferences and needs.

Underlying macroeconomic factors: The Basketball Merchandise Market within the Sports Market is greatly impacted by macroeconomic factors such as consumer spending habits, economic stability, and global economic trends. Countries with a strong basketball culture and a stable economy, such as the United States, have a higher demand for basketball merchandise. Fiscal policies, such as taxation and trade agreements, also play a significant role in the markets performance. Additionally, the growing popularity of online shopping has significantly affected the distribution of basketball merchandise, with e-commerce sales expected to continue growing due to advancements in technology and changing consumer behavior. These factors, along with the rise of the global Sports market, are expected to fuel the growth of the Basketball Merchandise Market in Western Africa and beyond.

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.