The Global team sports market is expected to flourish at a CAGR of 8.1% over the forecast period. Moreover, the global team sports market is projected to garner USD 25,436.5 Million by the end of 2024.
Global team sports market is segmented into sports into basketball team sport, football team sport, volleyball team sport, cricket team sport, rugby team sport and others. Among these segments, football team sports segment is expected to occupy the top position in the market.
In recent years, global football market has witnessed high revenue growth owing to the high popularity of soccer, rising broadcast revenues and increasing audience numbers. Further, football market is expected to grow at incredible pace over the forecast period.
This factor is envisioned to bolster the market of the football team sport market globally.
Rising awareness among the population toward fitness is increasing outdoor sports activities which are anticipated to grow the market of team sports globally. Further, increasing adoption of innovative sportswear among individuals and teams are expected to propel the demand for team sports in near future.
The market of male team sports is estimated to register a CAGR of 7.3% during the forecast period. Moreover, male team sports market is expected to account for the largest share of revenue across the globe.
Huge inclination of male population towards sports such as rugby, football, volleyball, basketball and other sports is a major factor which is anticipated to bolster the growth of male team sports market.
Increasing Awareness towards Fitness and Wellness
Increasing popularity of outdoor sports and other physical activities due to growing fitness and wellness awareness is envisioned to positively impact the growth of global team sports market in future. Moreover, increasing sports participation rate and growing number of female players are poised to fuel the growth of the global team sports market.
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Rise in the Number of Sports Events across the Globe
Increasing individual and multi-sport events across the globe is anticipated to accelerate the growth of the team sports market. Moreover, multi-sport events such as Olympics, Commonwealth games, Asian games & Paralympic are gaining popularity which further is opening a gateway of opportunities for the growth of the global team sports market.
Although, high cost associated with branded team sport wears and availability of counterfeit products are some of the factors which are likely to negatively impact the growth of the team sports market in the near future.
The report titled “Team Sports Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of global team sports market in terms of market segmentation by sports, by demography and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of global team sports market which includes company profiling of Adidas Group, NIKE, Inc., PUMA SE, Under Armour, Fila Inc, New Balance Athletics, Inc., Spadling, Russell Brands, LLC, Joma and Macron. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of global team sports market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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