Cricket - Bulgaria

Bulgaria

Highlights

Revenue in the Cricket market is projected to reach US$46.22k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.21%, resulting in a projected market volume of US$51.56k 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$2.37 in 2024.
In the Cricket market, the number of users is expected to amount to 22.4k users by 2029.
User penetration in the Cricket market will be at 0.3% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Cricket Market in Bulgaria is experiencing slow growth due to factors such as the declining popularity among consumers, limited media coverage and low ticket sales. However, the growing digitalization and increased focus on health and fitness could potentially revive the market, leading to potential growth in the future.

Customer preferences: As more Bulgarians have become interested in cricket, there has been a noticeable increase in the popularity of multicultural sports and events in the country. This has resulted in a shift towards a more diverse and inclusive Sports market, with consumers demanding a wider range of options. Additionally, there has been a growing trend towards digitally streaming cricket matches and accessing online content related to the sport, reflecting the increasing reliance on technology and digital platforms in the way consumers engage with sports.

Trends in the market: In Bulgaria, the Cricket Market within the Sports Market is experiencing a surge in popularity, with an increasing number of individuals and organizations showing interest in the sport. This trend can be attributed to the efforts of the Bulgarian Cricket Federation to promote the game in schools and communities. Additionally, there is a rise in the number of domestic tournaments and international matches being held in the country. This trajectory is significant as it not only contributes to the growth of the Cricket Market, but also helps to position Bulgaria as a viable destination for cricket events. Industry stakeholders, such as cricket clubs, coaches, and equipment manufacturers, stand to benefit from this trend, as it presents new opportunities for partnerships and revenue generation. However, with the increased demand for trained players and quality equipment, there may be potential challenges in meeting the supply for these resources. It is crucial for industry stakeholders to keep up with the current trends and adapt accordingly to capitalize on the growing cricket market in Bulgaria.

Local special circumstances: In Bulgaria, the Cricket Market is a relatively new and niche segment within the Sports Market. Due to the countrys history of communist rule, there is a lack of infrastructure and resources dedicated to cricket. However, there is a growing interest and participation in the sport, especially among expats and international students. This has led to the emergence of small, community-based cricket clubs and teams. Additionally, the relatively mild climate in Bulgaria allows for year-round play, making the country an attractive location for cricket tournaments and events. These unique local factors contribute to the slow but steady growth of the Cricket Market in Bulgaria.

Underlying macroeconomic factors: The Cricket Market within the Sports Market in Bulgaria is influenced by macroeconomic factors such as the overall economic health and policies of the country, as well as global economic trends. A strong economy with low inflation and stable exchange rates can lead to increased consumer spending on sports products and services, including cricket. Furthermore, government policies focused on promoting and supporting the growth of the sports industry can also have a significant impact on the market. Additionally, the availability of funding and investments in the development of cricket infrastructure, training facilities, and leagues can drive growth and interest in the sport. Lastly, factors such as population demographics, income levels, and cultural attitudes towards sports can also play a role in shaping the demand for cricket in Bulgaria.

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.