Cricket - China | Statista Market Forecast

Cricket - China

China

Highlights

Revenue in the Cricket market is projected to reach US$9.28m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.04%, resulting in a projected market volume of US$9.77m 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$0.42 in 2024.
In the Cricket market, the number of users is expected to amount to 23.2m users by 2029.
User penetration in the Cricket market will be at 1.5% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Cricket market in China is facing a slow growth rate due to factors such as lack of media coverage, limited ticket sales, and little awareness among consumers. Technology advancements and online services could potentially drive growth in the future. However, without addressing current obstacles, the market may continue to experience a negligible decline.

Customer preferences: As the young population in China continues to embrace the sport of cricket, there has been a noticeable trend towards a growing interest in international cricket tournaments and leagues. This reflects the emergence of a more diverse and globalized mindset among Chinese consumers, with a greater appreciation for different cultures and sports. Additionally, the rise of social media and digital platforms has also contributed to the increasing popularity of cricket, as it allows for easy access to live streaming and updates for fans. This shift towards a more diverse and globalized outlook is indicative of Chinas evolving lifestyle and changing demographic preferences.

Trends in the market: In China, cricket may not be as popular as other traditional sports, but there is a growing trend towards incorporating it into sports tourism packages and promoting it as a leisure activity in urban areas. This trend is driven by Chinas efforts to diversify its Sports market and capitalize on the global popularity of cricket. Industry stakeholders, such as sports clubs and tourism agencies, can benefit from this trend by tapping into the potential market of cricket enthusiasts and promoting unique experiences. This trajectory also holds promise for the growth of local cricket clubs and development of grassroots programs in China. Developing infrastructure and training facilities for cricket can create job opportunities and spur economic growth in the region. As this trend continues, it also presents opportunities for collaboration and partnerships between Chinese and international cricket organizations. This can lead to cultural exchange and boost the overall growth of the sport in the region.

Local special circumstances: In China, the Cricket Market is still in its early stages but has shown significant growth potential due to the countrys increasing interest in sports. The governments efforts to promote sports and fitness among its citizens, combined with the rising middle class and urbanization, have created a promising market for cricket. Additionally, Chinas unique cultural elements, such as a fondness for team sports and a strong sense of national pride, are expected to further propel the growth of the Cricket Market in the country.

Underlying macroeconomic factors: The growth of the Cricket Market within the Sports Market is heavily influenced by macroeconomic factors in China. With the countrys strong and rapidly growing economy, there is a significant potential for growth in this market. Furthermore, Chinas increasing middle class and rise in disposable income have resulted in a surge in consumer spending on sports-related activities. Additionally, favorable government policies promoting the development of sports, including cricket, have also contributed to the growth of this market. Furthermore, the growing trend of international collaborations and partnerships in the cricket market has been fueling its expansion in China, as well as the increasing popularity of the sport among the Chinese population.

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.