Market Insights Consumer Toys & Hobby Sports Equipment

Water Sports Equipment - Gambia

Gambia

In 2024, the Water Sports Equipment market in Gambia recorded a revenue of US$2.1m.
It is projected to experience an annual growth rate of 7.26% from 2024 to 2028 (CAGR 2024-2028).
Among all countries, in India stands out as the leading revenue generator in this market, with a total revenue of US$2,124.0m in 2024.
When comparing revenue figures to population size, in Gambia generates a per person revenue of US$0.73 in 2024.
Despite its limited coastline, Gambia has seen a growing demand for water sports equipment, driven by a rise in tourism and the country's commitment to developing its water sports infrastructure.

Key regions: Asia, Italy, Worldwide, China, Europe

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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.