The Sports market in Finland has seen minimal growth in recent years, likely influenced by a combination of factors such as declining interest in traditional sports and a shift towards alternative forms of physical activity. The rise of e-sports and virtual competitions may also be impacting this trend. However, a strong emphasis on health and fitness in Finnish culture may present opportunities for growth in the future.
Customer preferences: The Finnish Sports market is seeing a rise in demand for digital and interactive sports experiences, as consumers seek ways to engage with sports and fitness activities from the convenience of their homes. This has resulted in the growth of virtual and augmented reality sports training programs, as well as the increased use of technology in sports equipment and apparel. Additionally, the promotion of a healthy and active lifestyle has become a key focus for both government and private initiatives, driving the trend towards digital health and fitness solutions. These shifts in consumer preferences are also influenced by the increasing popularity of esports and online gaming in Finland, where traditional forms of physical sports are being replaced by virtual alternatives.
Trends in the market:
In Finland, the Sports Market industry is experiencing a surge in the use of technology and digital solutions. With the increasing demand for convenient and personalized experiences, wearable technology such as fitness trackers and smartwatches are gaining popularity. These devices allow users to track their physical activity and monitor health metrics, catering to the growing health and wellness trend in the country. At the same time, there is a rising trend of online coaching and virtual training programs, providing customers with flexible and accessible options. This shift towards digitalization is significantly changing the landscape of the Sports Market industry, creating opportunities for businesses to innovate and enhance their offerings. For industry stakeholders, it is crucial to embrace these trends and adapt to the changing consumer preferences to stay competitive in the market.
Local special circumstances:
In Finland, the Sports Market is heavily influenced by the countrys strong cultural emphasis on outdoor activities and physical fitness. With its vast, picturesque landscapes and four distinct seasons, the demand for outdoor sporting equipment and apparel is consistently high. Additionally, the governments support for promoting a healthy lifestyle through various initiatives and subsidies has further boosted the growth of the Sports Market. As a result, the market has seen a rise in specialized outdoor sports stores, as well as a growing trend towards eco-friendly and sustainable products. These unique factors have not only shaped the Sports Market in Finland, but also set it apart from other markets, making it an attractive destination for both local and international sports brands.
Underlying macroeconomic factors:
The Sports market in Finland is heavily influenced by macroeconomic factors such as economic stability, support for sports infrastructure, and government policies promoting physical activity. With an above average GDP per capita and a strong emphasis on health and wellbeing, Finland boasts high participation rates in sports and recreational activities. Additionally, the government has implemented initiatives to promote sports tourism, further driving growth in the market. However, the COVID-19 pandemic has had a significant impact on the industry, causing disruptions in supply chains and affecting consumer spending. As the global economy recovers and travel restrictions ease, the demand for sports events and related merchandise is expected to rebound, contributing to the overall growth of the 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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