Dublin, Aug. 17, 2021 (GLOBE NEWSWIRE) -- The "Global Football Market by Product Type, Manufacturing Process, and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The global football market was valued at $1,883.6 million in 2019, and is projected to reach $3,712.7 million by 2027, registering a CAGR of 18.3% from 2021 to 2027.
Increase in involvement of youth in football games fuel the global football market growth. This increase in participation is anticipated to influence of football leagues or events. Furthermore, educational institutes are promoting sports among the youth. Educational institutes organize extracurricular activities, which include football as well.
Extracurricular activities allow youth to explore sports activities. This contributes to rise in participation of youth in the sports. Mainly sports such as cricket, badminton, and football are commonly played among the youth. In addition, there is a growth in admission of children in football academies and coaching centers. Such active participation in the sports propels growth of the global football market.
Moreover, football is not limited to sports, it provides job opportunities as well. Achievers in the football sports are given scholarships and reserved seats in government jobs. This benefits such achiever athletes and motivates others to also play these sports.
The hand stitched football has gained a majority of the global football market share. This is attributed to increase in participation in sports and advancements in football gears. These advancements include durable and high-quality football panels and strong bladder to hold football in shape. Such advancements enhance performance of athletes while playing or training and promotes increase in demand for branded equipment, shoes, and apparel.
However, counterfeit products are expected to hinder growth of the global football market. As counterfeit products are easily available in the market and are replica of original products. This creates an issue of identification between original and counterfeit products and hamper the market growth.
Furthermore, football is played for recreational purpose and fun. Increase in stressful lifestyle, obesity, and unhealthy diets cause serious damages to people. Consequently, physical sports such as running, swimming, and football cures these issues. This motivates people to participate in sports. As a result, this leads to the increase in the participation in sports. Thus, with increase in the sports participation contributes to the growth of football market.
Market Dynamics
Drivers
- Growth in popularity of sports and fitness
- Rise in adoption of extracurricular activities
- Increase in influence of sports celebrities on youth through social media
Restraints
- Negative impact of virtual games
- Easily availability of counterfeit products
Opportunities
- Emergence of butyl bladder in footballs
- Introduction of technology in sports
COVID-19 impact analysis
Companies Mentioned
- Adidas AG
- Baden Sports
- Decathlon Sports Pvt. Ltd.
- Franklin Sports Inc.
- Mitre International
- Nike Inc.
- Puma SE
- Select Sports A/S
- UMBRO
- Wilson Sporting Goods
For more information about this report visit https://www.researchandmarkets.com/r/deevr0
