Portland, OR, July 29, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global football market was estimated at $1.88 billion in 2019 and is expected to hit at $3.71 billion by 2027, registering a CAGR of 18.3% from 2021 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Increase in popularity of sports and fitness, rise in adoption of extracurricular activities, and surge in influence of sports celebrities on youth through social media drive the growth of the global football market. On the other hand, negative impact of virtual games and easy availability of counterfeit products impede the growth to some extent. However, emergence of butyl bladder in footballs is expected to create multiple opportunities in the industry.
COVID-19 scenario-
- The outbreak of COVID-19 gave way to huge decline in demand for footballs from individuals as well as several sports clubs across the globe. Simultaneously, distortions in the supply chain and disrupted production activities impacted the global football market negatively, especially during the initial phase of the lockdown.
- At the same time, cancellation and postponement of several football tournaments had a negative impact on the market. Nevertheless, the global situation started ameliorating and the market is projected to revive soon.
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The global football market is analyzed across type, manufacturing process, distribution channel, and region. By type, the training ball segment hold more than half of the global football market share in 2019, and is projected to dominate by 2027. The match ball segment, on the other hand, would register the fastest CAGR of 20.60% from 2021 to 2027.
By manufacturing process, the hand stitched segment contributed to more than three-fifths of the global football market revenue in 2019, and is anticipated to maintain the lion’s share by the end of 2027. Simultaneously, the thermally bonded segment would register the fastest CAGR of 24.3% throughout the forecast period.
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Based on region, Europe garnered the major share in 2019, holding around two-fifths of the global market. However, the market across Asia-Pacific would manifest the fastest CAGR of 21.5% during the forecast period. The other provinces discussed in the report include North America and LAMEA.
The leading market players analyzed in the global football market report include Baden Sports, Decathlon Sports Pvt. Ltd., Puma SE, Select Sports A/S, Adidas AG, Franklin Sports Inc., Mitre International, Nike Inc., and UMBRO. These market players have incorporated different strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.