Football Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Global football equipment market is projected to grow at a CAGR of 3.5%, during the forecast period.Key Highlights
In line with the athleisure trend, consumers are increasingly seeking for sports equipment that includes footwear, gloves, guards, etc. Additionally, the continued shift toward more active lifestyles is driving the demand for leisure activities, such as running and cycling across the world. Importance of sports activities, foremost for health reasons, the increasing influence of celebrity endorsement, and international sports events are encouraging the involvement of consumers in various sports activities. Additionally, an increase in government initiatives in various countries, meant to improve sports participation, is playing a key role in driving the market in the last few years. For instance, the Government of Australia is planning to invest USD 230 million in sport and physical activity initiatives over the next five years.Increasing Demand for Football Equipment from Asia-Pacific
Asia-Pacific is the fastest growing region in the global football equipment market. China, Japan, Australia, India, and South Korea are some of the top contributing countries in the region. Moreover, these countries have started hosting many international level football tournaments, which, in turn, will increase the popularity and demand for football equipment. For instance, India hosted the FIFA World Cup 2018 for under – 17 category. In addition, there’s a rise in women’s participation rate and government initiatives that likely boost the demand for the football equipment market in the region. Different governing football associations are offering multi-faceted support to increase women participation rate. Thus, the growing adoption of football equipment by women indicates a positive effect on the market’s growth.Competitive Landscape
Global football equipment market is highly competitive. The market is dominated by players, like Adidas Group, Nike Inc., Under Armour, PUMA SE, and New Balance.
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