The football equipment market is estimated to grow by $2,021.66 million from 2022 to 2027, representing a compound annual growth rate of 2.59 percent during the forecast period, according to a recent research report by Technavio.
Europe, which accounted for the largest share of the global market in 2022, is estimated to contribute 56 percent to the growth of the global market in the forecast period. Growth in Europe is driven by the presence in the region of the largest number of football clubs in the world. Furthermore, popular mega-events like the UEFA Champions League and the Euro Cup are played in the region.
The key trend in the football equipment market at the global level is an increased preference for eco-friendly products. Manufacturers have been replacing raw materials like leather, synthetic rubber, polyurethane, nylon and other synthetic materials with organic cotton, water-based adhesives and recycled plastic components. The production of eco-friendly products is indeed expected to propel the market during the forecast period, according to Technavio’s analysts.
Meanwhile, the major challenge that limits the growth of the football equipment market is the presence of counterfeit products. The growing availability of counterfeit products is expected to negatively impact the revenues of several global vendors during the forecast period.
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