Cricket - Baltics | Statista Market Forecast

Cricket - Baltics

Baltics

Highlights

Revenue in the Cricket market is projected to reach US$183.70k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.19%, resulting in a projected market volume of US$204.60k by 2029.
In global comparison, most revenue will be generated India (US$2.27bn in 2024).
The average revenue per user (ARPU) in the Cricket market is projected to amount to US$4.75 in 2024.
In the Cricket market, the number of users is expected to amount to 44.3k users by 2029.
User penetration in the Cricket market will be at 0.7% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Cricket market in the Baltics has been experiencing a slight decline in growth due to factors such as the popularity of other sports, ticket prices, and limited media coverage. Despite this, the market is still driven by factors such as the dedicated fan base, growing interest in the sport and the convenience of online ticket sales. This has led to a gradual increase in digitalization within the market, but the overall growth rate remains minimal.

Customer preferences: As Baltics countries have seen a rise in urbanization and adoption of western influences, the fanbase for cricket has widened to include younger generations and families. With this demographic shift, there has been an increased demand for cricket merchandise and experiential events, such as cricket-themed festivals. Additionally, there has been a growing trend towards eco-friendly and sustainable sports products in the Baltics, signaling a shift towards more conscious consumer behavior in the cricket market.

Trends in the market: In the Baltics, the Cricket Market within the Sports Market is experiencing a surge in popularity, driven by the regions increasing interest in non-traditional sports. This trend is expected to continue in the coming years, with more investments being made towards infrastructure and development in the region. Furthermore, there is a growing trend of hosting international cricket tournaments in the Baltics, providing opportunities for players and businesses in the market. This trend is significant as it showcases the potential for growth and expansion of cricket in the region and its potential to become a major player in the global market. It also presents opportunities for industry stakeholders, such as cricket clubs, players, and sponsors, to capitalize on the potential market. However, to fully realize the benefits, it will be important for the market to continue to invest in infrastructure, training programs, and marketing strategies to enhance visibility and attract new fans and investors.

Local special circumstances: In the Baltics, the Cricket market is influenced by the regions strong cricket tradition and its close proximity to major cricket-playing nations like India and Pakistan. This has led to a growing interest in the sport, with local leagues and tournaments gaining popularity. In addition, the Baltics tech-savvy population has embraced digital platforms for streaming and following cricket matches, creating a demand for online cricket content and merchandise. The regions open and progressive regulatory environment also makes it an attractive destination for hosting international cricket events.

Underlying macroeconomic factors: Macroeconomic factors play a significant role in shaping the growth of the Cricket Market within the Sports Market in the Baltics. The stability of the global economy, the state of the national economy, and fiscal policies implemented by the government all have a direct impact on the performance of this market. Additionally, other financial indicators, such as consumer spending and business investment, can also influence the demand for cricket in this region. It is important to consider the overall economic climate when assessing the potential for growth in this market and to closely monitor any changes that could affect consumer behavior and market trends.

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.