The sports activities sector in India – comprising media rights, attire, sports activities diet, sports activities gear and many others — as an business is prone to go up 5 occasions to succeed in a worth of $100 billion by 2027 from $27 billion in 2020, finds a brand new report.
Brokerage agency Anand Rathi Funding Banking’s report mentioned a majority of that is being led by the Indian Premier League (IPL), with over 9 million viewers which has commercialised and scaled efficiently.
Moreover, the Indian sports activities media market measurement was $1 billion in 2020 and is estimated to develop over $13.4 bn by 2027.
The worldwide media rights market is $52.1 bn the place market share of cricket grew from 2.7% to three.0%; soccer continues to carry the pole place at 42%. In 2019 although, it mentioned the market measurement was $30-31 billion and the slowdown in sure segments of the sports activities business had been offset by the expansion in gaming and nutraceuticals. And whereas it was nonetheless rising, the report mentioned that the sports activities business within the nation continues to face challenges comparable to lack of infrastructure, excessive taxes levied on sports activities gear and occasions and the shortage of financing and governance.
The report added that India is among the largest producers of sports activities items and gear in Asia after China & Japan and that the sports activities items market was price $4.5 billion in 2020 and is estimated to develop to $6.6 billion by 2027.
Moreover, it mentioned, the Indian sports activities attire market was price $14 billion in 2020 and is estimated to develop to $21 billion by 2023, largely rising on the again of menswear merchandise.
Supply: Live Mint