Sports - China

China

Revenue in the Sports market is projected to reach €2,206.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.17%, resulting in a projected market volume of €2,456.00m by 2029.
In global comparison, most revenue will be generated in the United States (€46,140.00m in 2024).
The average revenue per user (ARPU) in the Sports market is projected to amount to €8.09 in 2024.

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Analyst Opinion

The Sports Market in China is experiencing slow growth due to multiple factors. The increasing popularity of digital technologies in other industries has redirected consumers attention away from traditional sports. Additionally, the rising income inequality in China has resulted in fewer people being able to afford sports equipment and events. This, combined with a lack of government support for certain sub-markets, has led to minimal growth in the overall Sports market in China. Unstable economic and political conditions also play a role in the slow growth rate.

Customer preferences: Consumer preferences in the Chinese Sports market are shifting towards a focus on holistic health and wellness, driven by a growing awareness of the importance of physical and mental well-being. This has led to an increase in demand for fitness and wellness technology, such as wearable devices and health tracking apps. Additionally, with an aging population, there is a growing demand for sports and fitness programs targeted towards older adults. This shift towards a more holistic and inclusive approach to fitness is reflecting a growing interest in overall health and vitality among Chinese consumers.

Trends in the market: In China, the Sports market is experiencing a surge in the use of virtual and augmented reality technology. This trend is driven by the growing demand for immersive and interactive sporting experiences. It is also supported by the countrys advancements in digital infrastructure and adoption of new technologies. This trend has significant implications for industry stakeholders as it opens up new opportunities for fan engagement, athlete training, and Sports marketing. Furthermore, it has the potential to drive growth for sports clubs, technology companies, and broadcasters in China.

Local special circumstances: In China, the Sports Market is strongly influenced by the countrys large population and passion for sports. With a population of over 1.4 billion, the market potential for sports is immense. The Chinese governments policies promoting sports and investing in sports infrastructure have also played a significant role in promoting the growth of the sports industry. Additionally, cultural factors such as the emphasis on physical fitness and the popularity of traditional Chinese martial arts have shaped the Sports market in China, making it unique compared to other markets. The regulatory landscape, including strict government regulations on sports betting, has also had a major impact on the Sports market in China.

Underlying macroeconomic factors: The Sports Market in China is greatly influenced by macroeconomic factors such as the countrys economic growth, government policies, and consumer spending power. As Chinas economy continues to grow at a rapid pace, there is an increasing demand for leisure and entertainment activities, including sports. The government has also implemented policies to promote and develop the sports industry, such as investing in sports infrastructure and hosting major international sporting events. Additionally, the rising disposable income of Chinese consumers has led to increased spending on sports-related products and services. With these favorable macroeconomic conditions, the Sports Market in China is expected to continue its growth trajectory.

Methodology

Data coverage:

The data encompasses B2C and B2B revenues. Figures are based on media spending, merchandise spending, and ticket spending. All monetary figures for merchandise and tickets refer to consumer spending on goods or tickets in the respective segment, which can be online and offline.

Modeling approach / Market size:

Market sizes are determined through a combination of bottom-up and top-down approaches, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per ticket, price on sport goods). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function or linear forecasting, as it fits the development of either strong growing markets or more sophistacted and saturated markets, such as soccer in Europe.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). We also account for the different cycles of international tournaments, such as world cups or continent cups. Consumer Insights data is reweighted for representativeness.