PUBLISHER: The Business Research Company | PRODUCT CODE: 1769561
PUBLISHER: The Business Research Company | PRODUCT CODE: 1769561
The sports market refers to the ecosystem of activities, services and products related to organized physical competition and recreational athletic engagement. This market includes both professional and amateur sports and spans a wide range of organized competitions, leagues, teams, clubs and events.
The sports market consists of sales, by entities (organizations, sole traders, or partnerships), of sports that are utilized for entertainment, health and wellness, social interaction and community building. Sports are used in a variety of ways: professionally for entertainment and career development; recreationally for health, wellness and community engagement; and educationally in school and collegiate programs. Usage occurs in stadiums, sports complexes, community centers, schools and increasingly via digital platforms for virtual engagement.
The global sports market was valued at $442,875.35 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 3.00%.
Rise In Sports Tourism
The rise in sports tourism supported the growth of the sports market, during the historic period. Sports tourism has seen substantial growth, by an influx of international and domestic visitors attending major events such as the Olympics, Super Bowl and marathons. These events not only generate revenue from ticket sales but also stimulate local economies through increased demand for hospitality, travel and entertainment. Host cities of large-scale sporting events experience significant economic expansion, with heightened demand for hospitality, travel and entertainment services. For instance, in January 2024, according to a Global Travel Survey 2023 conducted by TGM Research, a Singapore-based market research and data collection company, 14% of visitors worldwide indicated a preference for travels involving sports-related activities, which highlights the excitement for sports tourism around the world. Additionally, in April 2023, according to a survey of 2,000 individuals conducted on behalf of Visit Anaheim, a US-based tourist information center, 45% of sports fans had traveled outside of the nation to attend a game and 35% had made travel plans exclusively around the schedule and location of their favorite team's match. Therefore, the rise in sports tourism drove the growth of the sports market.
Strategic Partnerships In The Sports Industry To Drive Innovation
Companies operating in the sports market are adopting a strategic partnerships approach to develop advanced solutions. Strategic partnerships help sports companies by combining resources and expertise, enhancing research and development capabilities, expanding market reach and accelerating commercialization, ultimately driving innovation and growth in the sports industry. For example, in April 2025, IDA Sports, a US-based sports company specializing in soccer footwear partnered with USL Super League Players Association (USLPA), a US-based professional women's soccer league to provide female athletes with soccer cleats specifically engineered for women's biomechanics. This collaboration addresses the higher risk of injuries, such as ACL tears, among women players by offering footwear designed to mitigate these risks. Additionally, players will offer feedback on the cleats, contributing to future design improvements. This initiative underscores a shared commitment to enhancing performance, safety and representation for women in professional soccer.
The global sports market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 2.83% of the total market in 2023.
Sports Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global sports market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for sports? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The sports market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider sports market; and compares it with other markets.
Growth Analysis And Strategic Analysis Framework Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).