Europe being a predominant sporting region displays a strong demand for sporting goods. Few of the popular sporting activities in Europe include football, tennis, racket sports, bike sports, outdoor sports, running, water sports, golf, and winter sports. Many of the countries in Europe use sports as an instrument of diplomacy within the international political and socio- economic framework.
The sporting good market in Europe is expected to witness a healthy growth due to factors such as increasing health awareness amongst the masses and higher prevalence of obesity, which is compelling people to take up physical activities. Moreover, ill effects and concerns over modern on-the-go lifestyle and sedentary work culture are influencing people to actively participate in sporting events in order to stay fit and improve the quality of life. Hence, the demand for fitness equipment and gears have significantly grown in the region over the past few years.
Innovation in Sports Gear Manufacturing
Manufacturing of sporting goods has always been difficult. The techniques for manufacturing sports equipment and gears are constantly evolving. As sporting traditions change and evolve, the functionality and use of sporting gears also entail modification. Thus, manufacturers look forward to developing enhanced sporting kits and gears to cater to the requirement of athletes. The industrial manufacturing of sporting equipment has been upgraded to digital, high-tech and innovative methods. In addition, sporting goods manufacturing plants are being upgraded with smart robotic systems and advanced technology such as ‘Internet of Things’ (IoT) in order to make more accurate and efficient products. This, in turn, is expected to create new market opportunities for sports good manufacturing companies in Europe. For example, the bicycle industry has recently introduced a special type of disc brakes, which is currently under trial and awaiting approval from various cycle sports governing bodies in the region.
Demand for Soccer Kit in Europe
Soccer is one of the most dominating sports in the region, the craze for soccer in Europe is overwhelming. Almost all the countries in Europe adore the sport, hence, the demand for soccer kit is relatively high compared to other sports equipment. The trend of soccer kit sponsoring started in the mid-70s when brands like Umbro and Adidas started sponsoring countries such as Germany and Netherlands. While brand such as Le Coq Sportif and Admiral faded away, others have flourished and thrived on the opportunities in the market. Kit sponsoring is proving to be a lucrative form of advertising for the brands and clubs to a massive global audience. Leading companies such as Adidas, Nike and Puma are making significant investments in soccer kit business.
Europe homes some of the premium soccer clubs of the world, which are having a strong fan base not only in the region but across the globe. Hence, jersey sponsorships for these clubs are proving to be an effective marketing strategy for sporting goods manufacturing companies. According to an article published by Forbes, the revenues for soccer jersey sponsorship is expected to hit $930 Million in Europe by the end of 2016. For instance, Chelsea football club has recently completed a kit sponsorship deal with Nike that is estimated to be significantly higher than the deal with their current sponsors Adidas. Likewise, Manchester United completed a deal with Adidas for kit sponsorship, estimated to be nearly £75 Million a year.
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The market for sporting goods in Europe is expected to witness a healthy growth rate in the near future. Furthermore, demand for football kit is expected to remain relatively high in the region, especially in countries such as Germany and England. By 2024, the market for sporting goods in the region is anticipated to reach 187.48 Billion in terms of value.