Soccer Merchandise - Baltics

Baltics

Highlights

Revenue in the Soccer Merchandise market is projected to reach US$8.09m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.83%, resulting in a projected market volume of US$8.85m by 2029.
In global comparison, most revenue will be generated United States (US$1.38bn in 2024).
The average revenue per user (ARPU) in the Soccer Merchandise market is projected to amount to US$23.49 in 2024.
In the Soccer Merchandise market, the number of users is expected to amount to 379.8k users by 2029.
User penetration in the Soccer Merchandise market will be at 5.9% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Soccer Merchandise market in the Baltics has seen slight growth due to factors such as increasing popularity of soccer, rise in consumer spending on sports merchandise, and convenience of online shopping. However, the markets growth is hindered by economic uncertainties and low disposable income in the region.

Customer preferences: As the popularity of soccer grows in the Baltics, there has been a noticeable increase in demand for soccer merchandise. This trend is largely driven by the younger population who are more technologically inclined and prefer to shop online for their favorite team’s gear. With the rise of social media and influencer marketing, consumers are also looking for unique and personalized merchandise options, leading to a rise in demand for customizable soccer products. Moreover, sustainability and ethical sourcing have become important factors in the purchasing decision of consumers, with a growing preference for eco-friendly and ethically produced soccer merchandise.

Trends in the market: In the Baltics, the Soccer Merchandise Market within the Soccer Market of the Sports Market is experiencing a shift towards sustainability. This trend is fueled by consumer demand for eco-friendly products and the growing global movement towards sustainability. As a result, major brands are now incorporating sustainable practices in their production processes and introducing eco-friendly merchandise. This trajectory is significant as it not only meets consumer demands but also aligns with the Sustainable Development Goals. The implications of this trend are wide-reaching, from reducing carbon footprint to improved brand reputation and increased customer loyalty. Stakeholders in the industry must adapt to this trend to remain competitive and appeal to the growing portion of environmentally-conscious consumers.

Local special circumstances: In the Baltics, the Soccer Merchandise Market is heavily influenced by the regions love for soccer, which is deeply rooted in their culture. This has led to a high demand for soccer merchandise, especially for popular clubs in the region such as FC Dinamo Minsk and FK Ventspils. Additionally, the relatively small size of the market and the presence of local manufacturers have led to unique and affordable merchandise options. Moreover, the regions location between Europe and Russia also allows for a diverse range of merchandise options, catering to different tastes and preferences.

Underlying macroeconomic factors: The Soccer Merchandise Market of the Soccer Market within the Sports Market is affected by macroeconomic factors such as consumer spending power, economic growth, and government policies. In countries with a growing economy and increasing consumer disposable income, there is a higher demand for sports merchandise, including soccer-related products. Government policies that promote the development of the sports industry, such as tax breaks and favorable regulations, also have a positive impact on market growth. Conversely, economic downturns and strict regulations may hinder market growth in a particular country. Additionally, global economic trends, such as the rise of e-commerce and the growing popularity of soccer as a sport, also influence the performance of the Soccer Merchandise Market within the Sports Market.

Data coverage:

The data encompasses B2C revenues. Figures are based on merchandise spending. All monetary figures refer to consumer spending on goods 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.