The Cricket market in Ghana has been experiencing stagnant growth, influenced by factors such as minimal investments in infrastructure, limited domestic interest in the sport, and competition from other popular sports. This has led to a negligible decline in the overall market, despite potential growth opportunities in sub-markets such as Cricket Media and Ticket Sales.
Customer preferences: The rising popularity of T20 tournaments in Ghana has sparked renewed interest in the cricket market, particularly among young adults. This demographic is also increasingly drawn towards streaming services and online platforms for accessing sporting events, highlighting a shift towards digital consumption of sports content. Additionally, the emergence of social media influencers and celebrity endorsements in the cricket market has played a role in shaping consumer preferences and promoting the sport to a wider audience.
Trends in the market: In Ghana, the cricket market has seen a significant increase in popularity and participation in recent years. This trend can be attributed to the successful performance of the national team in international tournaments, increased media coverage and sponsorship, and the implementation of development programs by the Ghana Cricket Association. Additionally, there has been a surge in the use of social media and online streaming platforms to consume and engage with cricket content, as well as the introduction of fantasy cricket games. This trend is expected to continue, as it allows for a wider reach and engagement with the sport. Industry stakeholders, such as cricket clubs and sponsors, can capitalize on this trend by investing in digital platforms and partnerships to further grow the market and reach new audiences. Furthermore, the inclusion of cricket in the 2023 African Games, to be hosted by Ghana, presents a significant opportunity for the sport to gain even more traction in the country and potentially attract new investors.
Local special circumstances: In Ghana, Cricket is a growing sport due to its colonial history with the United Kingdom and its popularity among the expat community. However, it faces tough competition from traditional sports such as football and boxing. The country also lacks proper infrastructure for cricket, hindering its growth potential. Additionally, cricket faces cultural barriers as it is not widely known or understood by the local population. The government has recognized these challenges and is working towards promoting the sport by investing in facilities and organizing tournaments. These factors create a unique market dynamic for cricket in Ghana compared to other more established markets.
Underlying macroeconomic factors: The Cricket Market within the Sports Market in Ghana is influenced by a range of macroeconomic factors, including the global trend towards increased popularity of the sport, which drives demand for cricket products and services. Additionally, the national economic health of Ghana, which has experienced significant growth in recent years, and favorable fiscal policies that support the development of the sports industry, contribute to the markets performance. Furthermore, investments in infrastructure and initiatives to promote cricket as a national sport have also had a positive impact. However, challenges such as limited funding and sponsorship opportunities may hinder the markets growth potential. Additionally, the overall economic stability and consumer purchasing power in the country will play a critical role in determining the success of the Cricket Market.
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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