Sports - Australia

Australia

Revenue in the Sports market is projected to reach €671.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.54%, resulting in a projected market volume of €761.20m 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 €63.07 in 2024.

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Analyst Opinion

The Sports market in Australia is experiencing steady growth, driven by factors such as increasing popularity of digital platforms, heightened interest in health and fitness, and the convenience of online services. While sub-markets such as soccer and basketball continue to see strong growth, the overall market growth rate has been impacted by a minimal decline in other sports such as American football, baseball, and cricket. Factors such as competition from other forms of entertainment and limited resources for sports infrastructure could be contributing to this decline.

Customer preferences: In recent years, consumers in Australia have shown a growing preference for sports and fitness activities that prioritize holistic well-being and overall health. This translates into an increased demand for services and products that cater to mental and emotional well-being, such as mindfulness and meditation apps. Additionally, there has been a rise in interest for sustainable and eco-friendly sports products, reflecting a growing consciousness towards environmental conservation. This trend is largely driven by the younger demographics, as they are more likely to prioritize sustainable and ethically-made products in their purchasing decisions.

Trends in the market: In Australia, the Sports market is experiencing a surge in demand for at-home fitness equipment and virtual workout programs. This trend has been accelerated by the COVID-19 pandemic, where lockdowns and restrictions have forced many people to turn to virtual fitness options. As a result, there has been a significant increase in the use of health and fitness apps to track workouts and monitor progress. This trend is expected to continue as people prioritize convenience and safety in their fitness routines, presenting opportunities for virtual fitness companies and equipment manufacturers. Additionally, sports organizations and leagues are also exploring virtual options for games and competitions, presenting a potential shift in the industrys landscape.

Local special circumstances: In Australia, the Sports Market industry is heavily influenced by the countrys love for sports and active lifestyle. The nations geographical diversity and vast coastline provide ample opportunities for outdoor recreational activities, making it a hot spot for sports tourism. Moreover, government policies promoting sports and fitness have contributed to the growth of the market. Additionally, the rise of e-sports and online sports betting have also gained popularity among the tech-savvy population.

Underlying macroeconomic factors: The Sports market in Australia is heavily influenced by macroeconomic factors such as consumer spending power, economic stability, and government policies. With a strong and growing economy and a high disposable income, Australians have a higher propensity to engage in sports and fitness activities, leading to a robust demand for sports products and services. Furthermore, the Australian governments support for sports and recreation through initiatives such as the Sports Commission and the National Sports Plan has boosted the growth of the Sports market in the country. The increasing focus on health and wellness, as well as the rising trend of online and e-commerce channels, are also driving the growth of the Sports market in Australia.

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.