Predicted Growth of the Global Football Market
The global football market has experienced significant growth in recent years. In 2019, it had a value of $1.8 billion. This value had grown to $3.02 billion by 2021. According to expert projections, the global value of football is expected to continue growing and achieve a value of $3.87 billion by 2027.
A football journalist from JustGamblers that we talked to told us,
“The global football market looks really positive right now. As people embrace sport as a way of improving their health, and women embrace the sport more than ever, there is great potential for key firms to unlock. These firms include big names such as Nike, Puma, Umbro, and Wilson Sporting Goods. They’re competing to capture a slice of the market value, especially in Europe where the market is exceptionally strong, and the Asia Pacific area where growth is impressive.”
Europe is the largest market, with the Asia Pacific market experiencing rapid growth
As mentioned by the journalist we spoke to, Europe continues to be a strong market for football. This is especially the case in the UK, Germany, and France, where football market potential benefits from a strong overall interest in the game. There is no sign that the European market will slow anytime soon, especially as the growth of the women’s game continues apace.
Although the Asia Pacific market is not close to Europe in size right now, brands are recognizing the potential of investment in this part of the world which includes countries such as China, Japan, Australia, and India. This potential exists due to the rapid expansion of this market which is currently the fastest growing globally.
What is driving growth in the football market?
There is not one single factor that is currently driving the growth of the football market across the world. Experts suggest that three main reasons are behind the expansion and increase in value of the market.
Firstly, the return of top leagues following pandemic restrictions led to a surge in interest in football. This surge has resulted in an expansion of the global fanbase. As more people support top teams, they are interested in purchasing associated products.
Secondly, people are more aware than ever of the need to protect their health and well-being. This has resulted in many individuals taking up sports including football. This in turn has led to a growth in demand for football related products.
Thirdly, women’s football has grown in popularity on a global scale. As more women watch top professionals perform so they become aware of their own ability to participate. This awareness opens up the football market to a larger section of the general population.
Together, these factors combine to create a perfect environment for the global football market to flourish. Currently, the market is healthy and buoyant. It seems likely that this situation will continue in the years to come, especially as markets like Asia Pacific continue to be explored by brands that are ambitious to expand.
