Basketball Market is expected to reach USD 1,546.34 million in 2029 : Cognitive Market Research

As per Cognitive Market Research analysis, the Basketball Market size is projected to grow from USD 986.78 million in the year 2021 to USD 1,546.34 million by 2029 at a CAGR of 5.67% from 2022-2029.
Basketball is one of the most popular sports in the world. It is played with a ball and a hoop. A player scores a goal through a basket shot. Basketball is very fast-paced and exciting. Furthermore, every player on the court can play both offense and defense, and each player's role is only loosely defined. Most elements of basketball can easily be practiced by one person, making it easy to learn. The sport is also great for games ranging from one-on-one to 5-on-5, so you don't need a large crowd to have a great game. Due to the growing popularity of the game of basketball among teenagers, the number of basketball demands is growing rapidly. Rising fitness awareness, interest in basketball, rising disposable income, and popularity of National Basketball Association and NBA Association are all contributing to the growth of the market.

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@-https://www.cognitivemarketresearch.com/basketball-market-report

Regional Analysis of Basketball Market:
• The North American basketball market is expected to continue to account for the majority of the revenue share over the next few years owing to the increasing popularity of the sport in the United States. The professional sports market in the United States is lucrative, which in turn drives the market growth in the region. Furthermore, physical activity is given as much importance as academics in American schools, colleges, and universities, as evident from the annual competitive sporting events organized by educational institutions in these countries. These factors will contribute to further market growth.

Top players involved in the Basketball Market:
• Wilson Sporting Goods
• Rawlings Sporting Goods Company Inc.
• Anthem Sports
• Nivia
• Dick's Sporting Goods Inc.
• Target Brands Inc.
• SCHEELS SPORTS
• Anthem Sports
• Under Armour Inc.
• BSN Sports

Segment Analysis:
• Based on product types, rubber, cattle hide, PU, PVC and other are the segments of the global basketball market. The rubber segment is expected to hold the highest revenue share in the global basketball market. This is because they are cheaper and come in more colors and designs.
- Rubber
- Cattle hide
- PU
- PVC

• Based on application, the market is segmented into indoor and outdoor. The outdoor segment is expected to hold the highest revenue share in the global basketball market owing to the increasing number of sporting events at both domestic and international levels.
- Indoor
- Outdoor

• Based on distribution channel, the market is segmented into offline and online. The offline segment is expected to hold the largest revenue share in the global basketball market. This is attributed to the exposure and accessibility to the maximum number of shoppers. In addition, consumers are increasingly inclined to purchase high-end products from retail outlets. In addition, customers can easily know the exact size and weight of the product from offline channels such as convenience stores and company private label retail outlets.
- Offline
- Online.

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Nicolas Shaw
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Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.

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