Soccer Merchandise - Western Africa

Western Africa

Highlights

Revenue in the Soccer Merchandise market is projected to reach US$40.75m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.31%, resulting in a projected market volume of US$45.68m 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$9.28 in 2024.
In the Soccer Merchandise market, the number of users is expected to amount to 4.7m users by 2029.
User penetration in the Soccer Merchandise market will be at 1.1% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The soccer merchandise market in Western Africa is seeing minimal growth, affected by factors like limited consumer purchasing power and competition from local markets. Despite this, digital technologies and increased health awareness continue to drive the market.

Customer preferences: Furthermore, the soccer merchandise market in Western Africa is experiencing a rise in demand for sustainable and eco-friendly products, as consumers become more conscious of their impact on the environment. There is also a growing trend of supporting local businesses and buying locally-made soccer merchandise, as Africans embrace their cultural heritage and prioritize community-based economies. This shift in consumer preferences towards ethical and socially responsible purchases is indicative of a more conscious and empowered consumer base in the region.

Trends in the market: In Western Africa, the Soccer Merchandise Market of the Soccer Market within the Sports Market has seen an increase in online sales as global e-commerce companies expand into the region. Additionally, there is a growing trend of using social media influencers to promote soccer merchandise, catering to the younger demographics preference for personalized and authentic content. Furthermore, there is an increasing demand for eco-friendly and sustainable soccer merchandise, driven by consumers growing awareness of environmental issues. These trends indicate the changing preferences and purchasing behavior of consumers, presenting both challenges and opportunities for industry stakeholders.

Local special circumstances: In Western Africa, the Soccer Merchandise Market is heavily influenced by the strong fan culture, where soccer is not just a sport but a way of life. The market is also shaped by factors such as the regions developing economy, reliance on informal markets, and the prevalence of counterfeit goods. This creates a unique market where locally produced jerseys and merchandise are popular among fans, as they are more affordable compared to international brands. Furthermore, regulations on imports and distribution also play a significant role in shaping the dynamics of the Soccer Merchandise Market in Western Africa.

Underlying macroeconomic factors: The Soccer Merchandise Market in Western Africa is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Global events such as fluctuations in currency exchange rates, changes in trade policies, and economic downturns can all impact the purchasing power and consumer confidence in the region. Additionally, government policies that affect the import and export of goods, as well as taxes and tariffs, can also have a significant impact on the market. The overall economic health of the region, including factors such as GDP, inflation rates, and unemployment rates, can also affect the purchasing power and consumer behavior in the Soccer Merchandise Market. Strong economic growth and stability can lead to increased spending on luxury goods, such as football merchandise, while economic downturns can result in a decline in market performance.

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.