Sports activities enterprise to achieve $100 billion in 5 years: report

A brand new report finds that India’s sports activities business – which incorporates media rights, attire, sports activities vitamin, sports activities tools and extra – as an business may develop fivefold in worth by 2027, from $27 billion in 2020 $100 billion.

A lot of it, led by the Indian Premier League (IPL), with over 9 million viewers, has been efficiently commercialised and scaled up, in line with a report by brokerage agency Anand Rathi Funding Banking.

Moreover, the Indian sports activities media market measurement was valued at USD 1 billion in 2020 and is anticipated to develop by over USD 13.4 billion by 2027.

The worldwide media rights market measurement was valued at USD 52.1 billion, of which cricket elevated its market share from 2.7% to three.0%; soccer continued to keep up pole place at 42%. Nonetheless, the corporate stated the market was value $3 billion to $31 billion in 2019, with slowdowns in some areas of the sports activities business being offset by progress in gaming and well being dietary supplements. Whereas it’s nonetheless rising, the nation’s sports activities business continues to face challenges comparable to a scarcity of infrastructure, excessive taxes on sports activities tools and occasions, and a scarcity of financing and governance, the report stated.

India is without doubt one of the largest sporting items and tools producers in Asia after China and Japan, and the sporting items market was value $4.5 billion in 2020 and is anticipated to develop to $6.6 billion by 2027, the report added.

Moreover, it stated that the Indian sportswear market was value $14 billion in 2020 and is anticipated to develop to $21 billion by 2023, primarily because of menswear merchandise.

subscription Mint Publication

* Enter a legitimate e mail

* Thanks for subscribing to our publication.

Leave a Comment

A note to our visitors

This website has updated its privacy policy in compliance with changes to European Union data protection law, for all members globally. We’ve also updated our Privacy Policy to give you more information about your rights and responsibilities with respect to your privacy and personal information. Please read this to review the updates about which cookies we use and what information we collect on our site. By continuing to use this site, you are agreeing to our updated privacy policy.