The sports market consists of sales of sports services and related goods by entities (organizations, sole traders and partnerships) that offer spectator sports and participatory sports. Spectator sports includes teams or clubs and independent athletes that present sporting events before a paying audience. The racing team owners of racing participants that enter the participants into racing events or other spectator sports events and the sports trainers who provide specialized services to support participants in sports events or competitions are part of this industry. The establishments that operate race tracks are also included in this industry.
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. The market declined from $458.8 billion in 2019 to $388.3 billion in 2020 at a rate of -15.4%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is expected to reach $599.9 billion by 2025, and $826.0 billion by 2030. at a compound annual growth rate (CAGR) of 6.6%.
Growth in the historic period resulted from rapid urbanization, growth in emerging economies and emergence of multiple channels to capture viewership. Factors that negatively affected growth in the historic period were covid-19 pandemic, doping scandals, shortage of sports officials and climate changes. Going forward, emergence of e sports, rising sponsorships, and increase in internet accessible devices will drive the growth. Factors that could hinder the growth of the sports market in the future include threat from home entertainment and increasing regulations on sports.
The sports market is segmented by type into participatory sports and spectator sports. The participatory sports market was the largest segment of the sports market segmented by type, accounting for almost 72% of the total in 2020.
The participatory sports market is segmented by type into marines, bowling centers, skiing facilities, fitness and recreational sports, golf courses and country clubs and other participatory sports. The fitness and recreational centers market was the largest segment of the participatory sports market segmented by type, accounting for more than 39% of the total in 2020.
The spectator sports market is segmented by type into sports teams and clubs and racing and individual sports. The sports team and clubs was the largest segment of the spectator sports market segmented by type, accounting for approximately 75% of the total in 2020.
The sports market is segmented by revenue source into media rights, sponsorship, merchandising and tickets. The media rights market was the largest segment of the sports market segmented by revenue source, accounting for about 38% of the total in 2020
North America was the largest region in the global sports market, accounting for nearly 35% of the total in 2020. It was followed by Asia Pacific, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the sports market will be South America and the Middle East.
The global sports market is highly fragmented, with a large number of players in the market. The top ten competitors in the market made up to almost 2% of the total market in 2019. Major players in the market include Maruhan, Dallas Cowboys, New York Yankees, Manchester United Football Club and Futball Club Barcelona.
The countries covered in the global sports market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The regions covered in the global sports market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.