The Sports Market in Central and Western Europe is experiencing sluggish growth due to various factors such as declining interest in physical activity, saturation in popular sports like soccer and basketball, and economic instability in the region. However, the recent shift towards promoting digital technologies in sports has the potential to drive growth in the market, particularly in online streaming, data analytics, and virtual reality experiences. Rising health concerns among consumers may also increase demand for sports activities and associated products, such as fitness wearables and health supplements. Additionally, the growing trend of niche sports like American football and cricket may open up new opportunities for market growth.
Customer preferences:
In Central & Western Europe, the trend of incorporating technology into sports and fitness activities is on the rise. With the growing popularity of virtual fitness classes and at-home workout routines, consumers are increasingly looking for ways to stay active and healthy from the comfort of their own homes. This has also led to a surge in demand for wearable devices and fitness tracking apps. Additionally, as the population ages, there is a growing interest in low-impact and less strenuous forms of exercise, such as yoga and Pilates, as a way to maintain overall health and well-being.
Trends in the market: In Central & Western Europe, the Sports Market is experiencing a surge in virtual events and online platforms for sports activities due to the COVID-19 pandemic. This trend is expected to continue post-pandemic, as it offers a convenient and accessible way for consumers to engage in physical activity. Additionally, there is a growing emphasis on incorporating technology, such as AI and virtual reality, into traditional sports to enhance the fan experience. This shift towards digitalization has the potential to open up new revenue streams and increase global audience reach for industry stakeholders in the Sports Market.
Local special circumstances: In Central & Western Europe, the Sports Market is heavily influenced by the regions love for outdoor activities and healthy lifestyle choices. The market is driven by various local factors, including the regions diverse landscape, favorable weather conditions, and strict regulations on the use of performance-enhancing drugs in professional sports. Additionally, the high disposable income of the population and the popularity of team sports have also contributed to the growth of the Sports Market in Central & Western Europe.
Underlying macroeconomic factors: The growth of the Sports Market market is also influenced by macroeconomic factors such as consumer spending patterns, government policies related to sports and recreation, and overall economic stability. Countries with a strong culture of sports and high levels of disposable income are likely to have a larger market for sports products and services. Moreover, favorable fiscal policies, such as tax incentives for sports companies, can further boost market growth. However, economic downturns and fluctuations in disposable income can have a negative impact on the market, leading to decreased consumer spending on sports products and services. Thus, a stable economic environment and supportive government policies are crucial for the growth of the Sports Market market in Central & Western Europe.
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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