Market Trends of Football Equipment Industry
This section covers the major market trends shaping the Football Equipment Market according to our research experts:
Rising Sports Participation Rate and Inclination Toward Healthy Lifestyle
- In line with the athleisure trend, consumers increasingly seek sports equipment that includes footwear, gloves, guards, etc. Additionally, the continued shift toward more active lifestyles drives the demand for leisure activities and sports such as football, volleyball, running, and cycling worldwide.
- For instance, according to the National Family Health Survey, the number of female participants playing traditional American football at the high school level in the United States in 2021/2022 reached about 3,094, which has increased from 2,404 in 2018/2019.
- Additionally, the importance of sports activities, foremost for health reasons, the increasing influence of celebrity endorsement, and international sports events encourage consumers' involvement in various sports activities. For instance, in May 2021, Future Generali India Insurance Company Limited (FGII) started the third stage of its #HealthInsideOut campaign to maintain positive conversations about mental health. The series, according to the production company, involves athletes from sports like football, cricket, tennis, and shooting who come forward to relate their experiences with anxiety and depression.
- Moreover, increased government initiatives in various countries meant to improve sports participation have played a key role in driving the market in the last few years. For instance, the Government of Australia plans to invest USD 230 million in sports and physical activity initiatives over the next five years. Such developments and initiatives in the football and sports sector are expected to drive people to start playing football, thus boosting the market's growth.
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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, are expected to increase the popularity and demand for football equipment. For instance, India hosted the FIFA World Cup 2018 for under- 17 categories.
- In addition, there is a rise in the participation rate and government initiatives that are likely to boost the demand for the football equipment market in the region. For instance, according to the China Football Fan Behavior Insight White Paper 2022, in 2022, an estimated 200 million people in China were football enthusiasts. As the country's disposable income level rises, more fans would be willing to play football, thus increasing the demand for its equipment. Additionally, different governing football associations offer multi-faceted support to increase participation rates.
- For instance, according to the All-India Football Federation, in the fiscal year 2021, the All India Football Federation (AIFF) gained the highest share of income from grants of commercial rights, sponsorship, and football assessment fee, valued at INR 735.77 million. Other aids and fees formed a small share of roughly INR 157 million. This increase in the federation's income indicates how interested and enthusiastic people are in playing football.
- Few Indian states have as much money invested in football as Mizoram does. Mizoram, one of India's least populated states, has barely over a million people living there. But during the past ten years, Mizoram has produced several exceptional football players for both clubs and the national team, and the state government oversees residential academies in the region. 30 players from Mizoram were part of the Indian Super League in 2020-21, and it was 27 in the 2021-22 season. 100 more plied their trade in the I-League and various state leagues. This highly increasing trend of playing football among the youth population in the region is expected to boost the market's growth at a faster pace during the forecast period.
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