The Sports market in Kazakhstan has been witnessing slow growth, influenced by factors such as limited infrastructure, lack of government support, and low popularity compared to other markets. However, with increasing investments in developing sports facilities and rising interest in international events, the market is expected to see a steady growth in the coming years. The sub-markets of soccer, American football, basketball, baseball, and cricket have the potential to drive this growth and attract more investment opportunities.
Customer preferences: According to recent data, there has been a notable increase in the adoption of e-commerce platforms and online shopping in Kazakhstan. This trend has also extended to the Sports market, with consumers increasingly turning to online channels to purchase sporting equipment and apparel. This can be attributed to the convenience and wide selection of products offered by online retailers, as well as the growing tech-savvy population in Kazakhstan. Furthermore, the popularity of social media and influencer marketing has also played a significant role in driving online sales in the Sports market.
Trends in the market: In Kazakhstan, the Sports Market has seen a surge in virtual fitness training and digital subscription services during the COVID-19 pandemic. As the country gradually reopens, there is a growing trend of incorporating technology in sports training and competitions, such as virtual tournaments and e-sports events. This trajectory is significant as it allows for more inclusive and accessible opportunities for athletes and sports enthusiasts, while also driving innovation and revenue for industry stakeholders. However, there may be potential implications for traditional sports industries and the need for adapting to the digital transformation in order to remain competitive in the market.
Local special circumstances:
In Kazakhstan, the Sports Market is heavily influenced by the countrys rich history and culture of sports. The nation has a strong tradition of athletic excellence, especially in traditional sports like horseback riding and wrestling. This has created a fervent fan base and a growing demand for modern sports facilities and equipment. Additionally, the government has invested in developing a strong sports infrastructure, attracting international tournaments and events to the country. This has led to a steady growth in the Sports market and a rise in the popularity of sports merchandise and technologies.
Underlying macroeconomic factors: The Sports Market industry in Kazakhstan is significantly impacted by macroeconomic factors such as the countrys economic stability and growth, government policies and investments, and global economic trends. With the recent growth of the countrys economy, there has been an increase in the demand for sports and recreational activities. The governments support and investments in developing the sports infrastructure, as well as hosting major international sporting events, have also significantly contributed to the growth of the market. Furthermore, the increasing popularity of sports and wellness among the population, and the rise in the disposable income of individuals are expected to further drive the growth of the Sports Market in Kazakhstan. These factors, along with favorable regulatory environment, are expected to continue to positively impact the market in the coming years.
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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