The Sports Market in EAEU is experiencing moderate growth due to a combination of factors including changing consumer preferences, technological advancements, and increasing health consciousness. Soccer, American Football, Basketball, Baseball, and Cricket are key sub-markets within this region, but overall growth is subdued due to the impact of economic challenges and shifting demographic patterns in the region.
Customer preferences: In the past few years, there has been a noticeable increase in interest and demand for sports technology and innovative products within the EAEU countries. This can be attributed to the rise of health and wellness trends, particularly among younger demographics. As a result, there is a growing demand for high-tech fitness equipment, smart wearables, and virtual training options. This shift towards a more digitally connected and tech-savvy approach to sports and fitness is also driven by the need for convenience and personalized training plans. It is expected that this trend will continue to shape the Sports market in the EAEU region in the coming years.
Trends in the market: In the EAEU region, the Sports Market is seeing a rise in the use of technology to enhance athletic performance and engage fans. This includes the growing trend of wearable technology, such as smartwatches and fitness trackers, allowing athletes to track their progress and metrics. Additionally, with the increase in online viewership of sports events, there is a growing demand for virtual experiences, creating opportunities for industry stakeholders to innovate and monetize. As the EAEU continues to invest in sports infrastructure and hosting major events, the Sports Market is poised for continued growth. However, there are also potential concerns around data privacy and security, as well as competition from other forms of entertainment.
Local special circumstances: In the EAEU region, the Sports Market is heavily influenced by the local culture and traditional sports. For example, wrestling is a popular sport in Kazakhstan, leading to a growing demand for wrestling equipment and facilities. In Belarus, ice hockey is the national sport, creating a market for hockey gear and stadiums. These local sports preferences and customs shape the demand for sports products and services, making it crucial to understand the unique dynamics of each member country in the EAEU region.
Underlying macroeconomic factors: The Sports Market market is impacted by macroeconomic factors such as consumer spending power, government initiatives to promote sports and fitness, and changes in lifestyle trends. Strong economic growth and higher disposable income in EAEU countries have led to an increase in consumer spending on sports products and services. Moreover, some countries in the region have implemented policies to support the development of sports infrastructure and encourage participation in sports, further driving market growth. Additionally, the growing awareness about the importance of a healthy lifestyle has resulted in a shift towards fitness activities and sports, boosting the demand for related products and services in the region.
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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