Nielsen Sports The German Bundesliga was the first of the major football leagues to restart after the pandemic suspension and has finished its fixtures in late June. Global revenue of Nike from 2016 to 2021, by product category, Nike's revenue worldwide from 2016 to 2021, by product category (in million U.S. dollars), Adidas Group's global net sales from 2002 to 2021, by product category, Net sales of the adidas Group worldwide from 2002 to 2021, by product category (in million euros), Global sports nutrition & supplement market 2021-2030, Sports nutrition market worldwide from 2021 to 2030 (in billion U.S. dollars), Global consumer sport nutrition sales 2014-2020, by product, Global consumer sport nutrition sales in 2014, 2016, 2018, and 2020, by product type (in billion U.S. dollars), Global animal and plant-based protein market size 2021-2030, Forecast value of the protein ingredients market worldwide from 2021 to 2030 (in billion U.S. dollars), Sales of protein food products worldwide in 2020, by company, Sales value of protein food products worldwide in 2020, by select company (in million U.S. dollars), Size of the whey protein market worldwide 2021-2029, Value of the whey protein market worldwide from 2021 to 2029 (in billion U.S. dollars), Protein consumption change since coronavirus outbreak in the U.S. in 2020, Change in reported protein consumption since the COVID-19 outbreak in the United States in 2020, Key data on the global sports betting sector 2022, Key industry data on the sports betting sector worldwide as of June 2022, Brand value of leading global gambling companies 2021, Leading gambling companies worldwide in 2021, by brand value (in billion U.S. dollars), Sports betting revenue in the U.S. 2018-2021, Total sports betting revenue in the United States from 2018 to 2021 (in billion U.S. dollars), Leading websites in the sportsbook sector in the UK 2022, by share of voice, Leading sportsbook-related websites in the United Kingdom (UK) in 3rd quarter 2022, by share of voice, Market share of leading online sports betting operators in Italy 2022, Market share of leading online sports betting operators in Italy in September 2022, Revenue of the global eSports market 2020-2025, eSports market revenue worldwide from 2020 to 2025 (in million U.S. dollars), eSports audience size worldwide from 2020 to 2025 (in millions), Worldwide eSports viewer numbers 2020-2025, by type, eSports audience size worldwide from 2020 to 2025, by type of viewers (in millions), Global eSports market revenue 2021, by region, eSports market revenue worldwide in 2021, by region (in million U.S. dollars), Global revenue of the eSports market 2022, by segment, eSports market revenue worldwide in 2022, by segment (in million U.S. dollars), COVID-19: impact of canceling live sports as of March 2020. Broadcast records fell globally as a result of the tournament. In particular, the force field analysis model yields information that has two effects (Cartwright 2009). On the backend, however, sports businesses and publishers are frantically coordinating large sums of data for each club to meet their fans expectations. Sports products are mostly luxury goods and services. Favorite sports shoe brands of consumers in the United States as of 2018. People are travelling & they love sports The hard-hitting video has received widespread praise for its message of female empowerment. 191. Together, the populations of India and China make about 2.6 billion people, providing evidence of the increased rate of demand for sports products in these areas (Randers 2012). From sector market size and value stats to output value data. This year one fifth (20.5%) of internet users in the US are expected to have Twitter accounts. . Just under half of this turnover is generated by the spectator sports sector. Sports businesses and sport-adjacent businesses are looking to grow efficiencies wherever they can, and the realm of sports content creation is no exception. Taxation and legal politics are evident. Moreover, the sports industry generates as much as US$700 billion annually or a 1 per cent of global GDP when sporting goods, apparel, equipment, and health and fitness spending is included. Sports brands are now recognising esports streamers as influencers and celebrities in their own regard, with huge brand deals being signed by streamers. There are activists who are monitoring fashion retailers for violating child labor laws etc. 513-529. In this case, it has been shown that the concentration ratio is the market share that the four major competitors in the global retail industry are JJB Sports, Sports World, DJ Sports and Supermarkets/retail chains in various parts of the world. The Business Research Company has just released an extensive research paper, analysing sports industry growth from 2014 to now, and predicting trends for the coming two years. Opta Fast Player Statistics powers pre-match and live global football player props and player stats trackersfor top-tier operators like Sky Bet, bet365 and GVC, helping them create new thrills from every foul, shot, pass and tackle. In a challenging economic environment, sports will likely still be seen as an attractive option for investment, with investors endeavoring to take a responsible and sustainable approach. As the Coronavirus spreads across the globe, to protect the health of athletes, spectators and all others involved, an increasing number of major sporting events and matches (whether at an international, regional and/or national level) have been postponed or cancelled. Of all the different types of businesses within that sector, fitness and recreation centres dominate, owning approximately 40% of the whole participatory sports sector. liability for the information given being complete or correct. Globalization is considered one trend that will seriously influence and challenge the events industry in the mid-term. Sports Market Size The global sports market reached a value of nearly $388.3 billion in 2020, having increased at a compound annual growth rate (CAGR) of 3.4% since 2015. Various videos have made their way out of North Korea, showing the North Koreans winning the FIFA World Cup and various Olympic events that they did not even participate in. Referring back to our first example, and as an attempt for comparison, the last Olympic Games held in 2016 in Rio de Janeiro welcomed 1.17 million foreign and domestic tourists. And storytelling needs data. Cookie Policy | Do not delete! I wish I had this 30 years ago., Thank you for filling a great need in the sports industry. Do you agree or disagree that professional sports leagues are doing the right thing by suspending their seasons due to coronavirus (COVID-19) pandemic? Stats Performs unique historical database gives clients access to a treasure trove of data not available anywhere else. The analysis provides a critical market guide to executives and students alike and is at once informative, comprehensive, and digestible. We will write a custom Assessment on The Global Sports Retail Industry specifically for you for only $11.00 $9.35/page. Sports have long been used to assert a countrys dominance in the international community. Web. Surprisingly, the football leagues of Belarus, Burundi, Nicaragua and Tajikistan have never been more popular, where football kicked on without any interruption, despite coronavirus risks. Clubs, federations, media, equipment manufacturers, textile companies, sport services providers and betting companies should be aware of the current 11 important trends in the world of sports. This message will not be visible when page is activated. Please see www.deloitte.com/about to learn more about our global network of member firms. In particular, a few key trends are expected to drive growth forward, and present new opportunities to businesses: Torrens University Australia Limited ABN 99 154 937 005, CRICOS Provider Code: 03389E. The state has been subject to global exposure for a decade before the tournament has even begun. (2020). Favorite sports to watch live in the U.S. 2020, Favorite sports to watch live before the coronavirus (COVID-19) pandemic in the United States as of July 2020, COVID-19: public support for canceling professional sports as of March 2020. These new stories build interest amongst audiences. 5 . It's a great time to be a sports fan. The effects of COVID-19 continue to ripple through the global sports ecosystem, with some of the worlds major sporting events like the Olympics, the European Championships, and sports leagues around the world postponed. 12, no. 6, pp418. Before the tournament, the record UK TV audience for a womens football match was four million, but that figure was eclipsed four times during the tournament, culminating in a peak of 11.7 million as the England Lions lost in the semi-finals against the United States. Based on what you know about the coronavirus, are you currently more or less likely to go to sporting events? The blending of physical and digital experiences will move from proving concepts to creating new functionality and better experiences. The global value of the sports industry is estimated at US$756 billion annually. However, in some nations such as those using strict Islamic laws, including Saudi Arabia, as well as those with strict cultural laws like North Korea, some sports and sportswear are not allowed, especially those though to expose certain parts of the bod. Currently, North America is the largest market for the sports industry, accounting for around 30% of the global market. In fact, sports and related areas have been dramatically affected by the events of 2020. As weve already pointed out, the total worth of the sports industry is estimated to be around US$500 billion. [online] UEFA.com. Also, online at home work-out trends are booming more than ever due to lockdown restrictions, offering new fitness routines that might be here to stay even after confinement. Table of Contents Trend 1. [online] SBNation.com. Improved economies: Another major factor supporting the rate of growth in the sports retail industry is the trend of economies in various parts of the world. Moreover, employment in the EU sporting world combines around 5.76 million people, which equals to 2.72% of total EU employment. In addition, despite few cases such as Greece, Italy and Spain, the European Union has achieved an improved growth rate in its economy, which is expected to reach 2.1% per annum (Smith & Stewart 2012). The European Championship generates around 2 billion for UEFA from sponsors and broadcasters, but as life stands still now, these companies too remain on hold (UEFA.com, 2020). Football (soccer) is by far the number 1 sport in the world. Media organisations, rights holders and sports businesses have had to react and adapt quickly with new programming schedules for traditional broadcast and OTT, virtual live entertainment and a plethora of different types of sporting content to fill the void and stay in touch with sports fans. In particular, the growing demand for sports and sport-style products is high in areas with a high rate of population growth, especially in a number of Asian countries (Cai & Du 2013). The global sportswear market currently has many vital companies. Athletes and players have been forced to self-isolate . In terms of earnings, below is an info graphic of the wealthiest sports leagues by annual revenue. Clicking on the following button will update the content below. The global sports retail industry has achieved a rapid growth over the last ten years. The sports industry reached a value of nearly US$488.5 billion in 2018, is now estimated to be worth over $500 billion. To do this, they tend to increase their outlets, which make it necessary to hire a large number of employees in Europe, North America as well as foreign markets. This chapter discusses the role of such sporting forms by situating them within Qatar's wider soft power ambitions. This resource is very comprehensive and digestible . If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. In this global golden age of sports, 2023 is expected to bring organizations and athletes more chances than ever to deeply connect with their fans. This makes the bargaining power of the industry to be significantly low. This game became viewed as a Cold War on ice, instead of just a normal hockey game. The concentration ratio as well as HHI is important measures of rivalry in the industry based on market share. that is needed on this page. The answer lies in storytelling. Now, COVID-19 has blurred the line between traditional sports and esports. This is particularly true in global football. There have been multiple issues in the past such as worker rights and child labor laws. The safe re-opening of sporting events and tournaments following this crisis should focus on maximizing the benefits that sport and physical activity can bring. However, the major factor contributing to the industrial growth and development at a faster rate is the dynamism in the demand for sports goods. With the possibility of new sports betting restrictions emerging around the world, there will be a greater emphasis on risk management and responsibility as the industry seeks more growth and profitability. Also, the Champions League is set to officially resume on August 12th and run through August 23rd, in Lisbon, Portugal (AS.com, 2020). On an international scale, the United Nations Framework Convention on Climate Change (UNFCCC) launched a Race to Zero campaign in June 2020, with the goal of reaching net zero carbon . They can be used as a way for countries to try and establish dominance, a way to hash out rivalries without military action, or even just as a platform for athletes to express their political beliefs. The Tokyo 2020 name will remain, with the hope that the Olympic flame resumes as our eternal symbol of continuity (Olympic Channel, n.d.). However, the Italian Football Federation did issue a deadline for the current Serie A, B, and C to close their competitions by August 20th. Lewin, K, 2000, Defining the Field at a Given Time, Psychological Review vol. Also, small sports clubs and associations are the bedrock of affordable sport activities for most European citizens, but many of these small clubs are now facing bankruptcy. They had opted to include pandemic insurance after the outbreak of SARS in 2003. They have almost become the main decides of the prices for sports products. In this global golden age of sports, 2023 is expected to bring organizations and athletes more chances than ever to deeply connect with their fans. (2020, May 27). Which brand would you consider your favorite for sports equipment and gear? DTTL (also referred to as "Deloitte Global") does not provide services to clients. Additionally, the contribution of sport to preventive health care is becoming increasingly important and is making its way into many new policies. Governing bodies, sporting organisations and media corporations faced huge commercial challenges, while communities for a time lost all forms of organised sport and recreation. On its part, Reebok opened a fitness center known as Reebok Sports Club in London, England, which provides consumers with a wide range of exclusively branded Reebok products for health fitness purposes (Yu 2011). These organizations are multinational and large corporates that control the industry. 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