Football Market Growing At A CAGR Of 18.3% From 2021-2027, Business and Future Opportunity With COVID-19 Impact Analysis

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Football Market

According to a new report, Football Market Product Type, Manufacturing Process, Distribution Channel: Global Opportunity Analysis & Industry Forecast 2021-2027

On the basis of type, the training football segment is projected to witness the higher growth rate during the forecast period.”

— Roshan Deshmukh

PORTLAND, OREGON, UNITED STATES, November 3, 2021 /EINPresswire.com/ — The global football market size was valued at $1,883.6 million in 2019. Furthermore, according to the global football market forecast, it is projected to reach $3,712.7 million by 2027, registering a CAGR of 18.3% from 2021 to 2027. Europe was the highest contributor to the market and is estimated to grow at a CAGR of 17.7% during the forecast period.

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Rise in participation of women and kids is adding in growth of the global football market share. Rise in participation is attributed to increase in football clubs and associations. These clubs organize football leagues at national or international levels. Furthermore, promotion of football leagues lead to popularity of the sport. This popularity drives women and kids to participate in the football game. Moreover, celebrity endorsement and aggressive advertisement also promote participation in football. Thus, football clubs and association play a vital role in the global football market trends.

According to the global football market, on the basis of type, the training ball segment was the highest contributor to the market. It was valued at $981.0 million in 2019, and is projected to reach $1,806.5 million by 2027, registering a CAGR of 18.9% from 2021 to 2027. The growth is attributed to increase in popularity of the sport.

On the basis of manufacturing process, the hand stitched segment was the highest contributor to the market. According to the football market analysis, hand stitched segment is estimated to reach $2,104.1 million by 2027, at a CAGR of 18.5%. The growth is attributed to the fact that hand stitched footballs are durable and are high in quality.

On the basis of distribution channel, the offline segment was the highest contributor to the market, with $1,693.1 million in 2019. It is estimated to reach $2,876.8 million by 2027, at a CAGR of 17.7%. The offline segment provides products instantly to customers. Furthermore, in offline stores physical examination of products can be done. Through this choosing right product becomes easy, which in turn propels the segment growth.

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COVID-19 scenario-

○ The outbreak of the pandemic led to a steep decline in demand for footballs from individuals as well as several sports clubs across the world. Moreover, disruptions in the supply chain and distorted manufacturing activities impacted the global football market negatively, especially during the first phase of the lockdown.
○ Also, cancellation and postponement of several football tournaments affected the market to a considerable extent. However, the global situation is getting better and the market is expected to recoup soon.

Region-wise, Europe has gained considerable traction in the football market, and is expected to grow at the highest CAGR of $17.7 during the forecast period. Sponsors fund advertisements and leagues. This sponsorship promotes both, sponsor company and football events within this region. Major sponsor brands in football leagues such as FIFA and UEFA Champions League are Adidas AG, Qatar Airways, and Coca-Cola.

Key players in the industry have relied on strategies such as product launch and business expansion to expand their stance in the global market to stay relevant to maintain the global football market trend. The key players in the global football industry profiled in the report are Adidas AG, Baden Sports, Decathlon Sports Pvt. Ltd., Franklin Sports Inc., Mitre International, Nike Inc., Puma SE, Select Sports A/S, UMBRO, and Wilson Sporting Goods.

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Key Findings Of The Study

○ On the basis of manufacturing process, the hand stitched segment is expected to dominate the market from 2021 to 2027.
○ On the basis of distribution channel, the offline segment is expected to grow at a significant 17.7% CAGR during the forecast period.
○ On the basis of region, Europe is the highest contributor to the global football market growth.

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Source: EIN Presswire