The Sports market for basketball in MENA is seeing a slow growth due to factors such as limited media coverage and merchandising options, as well as high ticket prices which hinder consumer participation. However, the increasing popularity of the sport and rising disposable income among consumers could drive further growth in the future.
Customer preferences: With the increasing popularity of sports and fitness activities in the MENA region, there has been a noticeable rise in health and wellness trends among consumers. This has resulted in a growing demand for healthy and nutritious food options at sports events and venues. Additionally, there has been a surge in interest for sports nutrition products and supplements, as more individuals are incorporating physical activity into their daily routines. This shift towards a health-conscious lifestyle is also reflected in the rising demand for sports apparel and equipment that enhance performance and comfort.
Trends in the market: In the MENA region, the Basketball Market within the Sports Market is currently seeing a rise in online streaming services for basketball games, allowing fans to watch live games on their devices. Additionally, there is a growing trend of incorporating technology, such as virtual reality, into live games to enhance the spectator experience. These developments are significant for stakeholders as they provide opportunities for revenue growth and fan engagement. However, they may also pose challenges in terms of digital rights management and fan accessibility in certain areas with limited internet access.
Local special circumstances: In the MENA region, the Basketball Market within the Sports Market has unique local factors that shape its dynamics. The hot and arid climate in the region makes indoor air-conditioned sports arenas a popular choice for basketball games. Moreover, cultural factors, such as the popularity of physical activities and the passion for sports in the region, greatly contribute to the growth of the basketball market. The local regulatory authorities also play a crucial role in promoting and organizing basketball events, making it a highly regulated market.
Underlying macroeconomic factors: The Basketball market in MENA is also influenced by macroeconomic factors such as economic growth, political stability, and consumer spending. Countries with stable economies and high levels of consumer spending are likely to have a larger market for Basketball, as consumers have more disposable income to spend on sports entertainment. Additionally, global economic trends can impact the Basketball market, as a slowdown in economic growth can lead to decreased consumer spending on non-essential goods such as sports tickets and merchandise. Furthermore, fiscal policies, such as taxation and government subsidies, can also impact the market, either positively or negatively depending on their effect on consumer purchasing power. Overall, strong economic fundamentals and favorable government policies can lead to a thriving Basketball market in MENA.
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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