Market Insights Consumer Toys & Hobby Sports Equipment

Team Sports Equipment - Bhutan

Bhutan

in Bhutan, a country known for its rich history and cultural heritage, is also a part of the global market for Team Sports Equipment market.
In 2024, the revenue in this market amounts to US$1m, indicating its significance in the industry.
Looking ahead, the market is expected to experience an annual growth rate of 8.30% (CAGR 2024-2029), showcasing its potential for further expansion.
When comparing the global market, it is noteworthy that in China leads the way in terms of revenue generation.
In 2024, in China's revenue in the Team Sports Equipment market reaches a staggering US$2,001m, highlighting its dominance in the industry.
To understand the economic impact of the Team Sports Equipment market, it is essential to consider the per person revenues.
In 2024, the per person revenue generated in this market amounts to US$1.88.
This figure provides insights into the financial contribution of each individual within the population towards the Team Sports Equipment market.
Overall, the Team Sports Equipment market presents a significant opportunity for Bhutan to tap into a thriving industry that spans globally.
With its unique cultural context and potential for growth, in Bhutan can contribute to the market's development and further enhance its position in the industry.
In Bhutan, the demand for traditional archery equipment is surging, reflecting the country's deep-rooted cultural affinity for the sport.

Key regions: Indonesia, China, United States, Europe, Italy

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on goods people buy for their leisure activities and hobbies.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use in-house market research, national statistical offices, international institutions, trade associations, third-party studies, and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and household number. 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, exponential trend smoothing is well suited for forecasting the Toys & Hobby market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.