Dublin, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The "Football Equipment Market - Growth, Trends, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global football equipment market is poised for growth, with a projected Compound Annual Growth Rate (CAGR) of 3.5% over the next five years.
This market expansion is driven by various factors, including the increasing prominence of sports activities, rising health and wellness trends, the influence of social media and celebrity endorsements, and a surge in international sports events. These elements collectively encourage more consumers to engage in sports activities, particularly football, thereby boosting the demand for football equipment.
Key Highlights
- The growing interest in health and wellness trends, coupled with the impact of social media and celebrity endorsements, is driving an increasing number of sports enthusiasts to participate in activities like football.
- The United States witnessed a notable growth in the wholesale sales of football equipment, including protective gear and accessories, indicating a rising demand for football-related products.
- The market benefits from rising interest and participation rates in outdoor sports like football, as consumers become more conscious of their health and seek ways to combat obesity.
- The surge in sports tournaments and national and international football leagues has contributed to heightened awareness and interest in football, driving demand for its equipment and protective accessories.
Market Trends
- Rising Sports Participation Rate and Healthy Lifestyles: Consumers' inclination toward active lifestyles is boosting demand for sports equipment like football gear. An increase in female participants in sports like American football is a notable trend.
- Government Initiatives: Increased government initiatives aimed at improving sports participation are driving market growth. For instance, the Government of Australia's investment in sports and physical activity initiatives is expected to have a positive impact.
- Asia-Pacific Growth: The Asia-Pacific region, led by countries like China, Japan, and India, is witnessing rapid growth in the football equipment market due to rising sports participation rates and international-level tournaments.
Competitive Analysis
- Major players in the football equipment market include Adidas AG, Nike Inc., Under Armour Inc., MIZUNO Corporation, Lotto SpA, New Balance Inc., ASICS Corporation, Hummel, BasicNet, and PUMA SE.
- Manufacturers are adopting strategies such as investing in new generation technologies for equipment production and expanding distribution channels to meet rising competition and consumer demand.
- Online distribution channels are being emphasized for marketing and branding purposes, allowing companies to reach a wider customer base and expand their global reach.
A selection of Companies Mentioned in this report includes
- Adidas AG
- Nike Inc.
- Under Armour Inc.
- MIZUNO Corporation
- Lotto SpA
- New Balance Inc.
- ASICS Corporation
- Hummel
- BasicNet
- PUMA SE
Conclusion
The football equipment market is poised for growth, driven by factors like increased sports participation, growing health awareness, and rising interest in football-related activities. The market's expansion is further supported by government initiatives and the booming Asia-Pacific region. As key players adopt competitive strategies and focus on innovation and distribution, the market is set to experience significant developments in the coming years.
For more information about this report visit https://www.researchandmarkets.com/r/s0o6db
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