New York:, Feb. 13, 2023 (GLOBE NEWSWIRE) -- The global Football Equipment Market is estimated to reach US$ 23.78 billion by the end of 2033, increasing at a CAGR of 3.5% from 2023 to 2033. Market expansion is dependent on several variables such as an increase in the number of development programs, a rise in the demand for cutting-edge technology, and growing awareness about related products.
Globally, there is a growing demand for environment-friendly items. Organic cotton, water-based adhesives, and recyclable plastic material are now being used for the production of football equipment in place of leather, synthetic rubber, polyurethane, nylon, and other synthetic materials. Numerous types of sporting goods are now being manufactured using thermoplastic elastomers more frequently.
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To meet the rising demand for eco-friendly goods, several nascent businesses are introducing products such as football shoes made from eco-friendly materials, which not only benefit the environment but also make the shoes substantially lighter, giving players more speed, agility, and comfort.
- Limited-edition of football sneakers from Nike were manufactured using recyclable and renewable materials. Neymar, a top footballer from Brazil, is well-known for donning Nike Inc.’s GS football boots, which are the lightest and most environment-friendly boots Nike has ever produced. The traction plate is manufactured from the plant-based material Pebax Renu, which is composed of 97% castor beans. The laces, inner, and tongue of Nike Inc.’s GS shoes are all produced from at least 70% recycled plastic.
Key Takeaways from Market Study
- Under product type, football shoes, with a market share of 58.6%, dominated the market for football equipment in 2022.
- Under the end-user segment, the men’s category is anticipated to exhibit a high-value CAGR of 17.7% during the forecast period from 2023 to 2033.
- Increased consumer spending on sportswear and rising interest in football equipment among young people will help the football equipment market grow.
“The target market will experience steady growth during the projection period as manufacturers focus more on producing quality football-related products that can be customized according to a player’s usability,” says an analyst at Persistence Market Research.
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Key Market Players
The study includes groundbreaking insights into the competitive landscape of the football equipment market, as well as the highlights of manufacturers' differentiated strategies.
- Adidas AG
- Nike Inc.
- Under Armour, Inc.
- New Balance, Inc.
- ASICS Corporation
- MIZUNO Corporation
- Lotto SpA
- New Balance Inc.
- Hummel
- BasicNet
- PUMA SE
- Baden Sports Inc. are key football equipment manufacturers.
Know More about Report Inclusions
Persistence Market Research published a new market report on the football equipment market, covering global market analysis from 2018 to 2023 and forecasts from 2023 to 2033. This research report provides compelling insights based on product type, end user, and sales channel, across seven major regions of the world.
The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are expected to negatively impact the market growth, along with the latest trends and potential opportunities in the market.
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For additional information on how the demand for football equipment will shape up in the near future, write to the team of expert research analysts at media@persistencemarketresearch.com
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