Technavio: FIFA World Cup 2018 Kicks Off the Demand for Sports Footwear

The consumer and retail industry is one of the biggest beneficiaries of
the 2018 FIFA World Cup. Various segments of this industry are currently
leveraging the global popularity of soccer to augment their company’s
bottom lines, states Technavio market research experts. Top companies in
this sector are engaged in various kinds of promotional activities
centered around the FIFA World Cup 2018. These promotional activities
include sponsorships, celebrity endorsements, limited edition sports
lines along with world cup memorabilia.

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Technavio reports on FIFA World Cup 2018 and its positive impact on sports footwear. (Graphic: Business Wire)

FIFA World Cup 2018: an event to influence consumer spending

International sporting events such as FIFA serve to draw consumer
attention towards the importance of health and wellness. In the latest
report on the global
sports footwear market 2018-2022 by Technavio,
researchers have stated that manufacturers in this market space are
using such events to influence consumer spending. Soccer boot
manufacturers utilize such platforms to showcase their latest designs.

Technavio researchers project the global sports footwear market size to
exceed USD 97 billion by 2022, with innovation from key manufacturers as
its primary driving force. The APAC region emerged as the largest region
with a maximum market share of almost 41% in 2017. This region will
continue to see an increase in its market share with almost 3% climb
through 2022.

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Global sports footwear market 2018-2022: celebrity endorsement
strategies acts as a catalyst for market growth

Market research analysts at Technavio have identified celebrity
endorsements as a key factor impacting market growth. Health and
fashion-conscious millennials are more likely to invest in premium and
branded products endorsed by their favorite sportspersons and teams.
Therefore, leading companies in the sports footwear industry have bet
their boots on the winning horse. The outcome of the FIFA World Cup 2018
may be nerve-racking for the teams and their supporters, but it will
certainly be a hands-down victory for all the manufacturers of sports
footwear. The leaders in this game will emerge as the new contenders for
sponsorship rights for World Cup 2022 in Qatar.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Competitive scenario

About Technavio

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