Soccer Merchandise - Lithuania

Lithuania

Highlights

Revenue in the Soccer Merchandise market is projected to reach US$3.62m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.00%, resulting in a projected market volume of US$3.99m 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$24.78 in 2024.
In the Soccer Merchandise market, the number of users is expected to amount to 160.5k users by 2029.
User penetration in the Soccer Merchandise market will be at 5.4% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Soccer merchandise market in Lithuanian Sports market has shown slow growth due to the limited popularity of the sport. Factors such as lack of media coverage and lower interest from consumers impact the markets growth rate. However, increasing digitalization and availability of online options may boost the market in the coming years.

Customer preferences: Consumers in the Soccer Merchandise Market are embracing the trend of athleisure, where sportswear is worn in everyday settings, driving growth in the lifestyle segment. Additionally, the influence of social media and popular athletes has led to a rise in demand for limited edition and personalized merchandise. The increasing use of sustainable materials and ethical production processes also reflects a shift towards environmentally conscious purchasing among consumers in Lithuania.

Trends in the market: Within Lithuanias Soccer Market, there is a strong demand for high-quality soccer merchandise, fueled by the countrys devoted fan base and their increasing purchasing power. This trend is expected to continue in the coming years, as the market for soccer merchandise is projected to grow due to an increasing number of partnerships between major soccer clubs and local retailers. Furthermore, the rise of e-commerce in Lithuania has made it easier for fans to access merchandise from their favorite teams, further fueling the growth of the market. These trends have significant implications for stakeholders, as they can tap into the growing demand for soccer merchandise and leverage the power of digital platforms to reach a wider audience. It is essential for industry stakeholders to keep up with these trends and adapt their strategies to cater to the evolving needs and preferences of consumers in Lithuanias Soccer Market.

Local special circumstances: In Lithuania, the Soccer Merchandise Market is influenced by the countrys strong soccer culture and fan loyalty. This has led to a high demand for team-specific merchandise and a competitive market among local clubs. Additionally, the countrys size and relatively small population limit the markets potential for growth. However, the recent increase in international tourism has opened up opportunities for expansion, with souvenir sales being a significant contributor to the overall market. Furthermore, strict regulations on merchandise licensing and counterfeiting pose challenges for both local businesses and international brands looking to enter the market.

Underlying macroeconomic factors: The Soccer Merchandise Market within the Soccer Market of the Sports Market is significantly influenced by macroeconomic factors such as consumer spending power, GDP growth, monetary and fiscal policies, and trade agreements. Countries with high economic stability and favorable trade policies, such as membership in the European Union, have a more robust Soccer Merchandise Market due to increased consumer purchasing power and ease of international trade. Fluctuations in currency values and changes in international trade agreements can have a significant impact on the markets performance, as demonstrated by the Brexit vote and its effects on the UKs soccer merchandise industry. Additionally, the overall economic health of a country and its disposable income levels can greatly affect the demand for soccer merchandise, leading to higher or lower market growth.

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.