Sports hospitality involves providing hospitality facilities and services to sports fans and participants during sporting events. Some key products and services offered in this market include tickets for sporting events, food and beverages for spectators and players, sponsorships, transportation and accommodation facilities near sporting stadiums and arenas. With rising health awareness and growing participation in sports and fitness activities globally, the demand for sports hospitality services has increased substantially in recent years. The global Sports Hospitality Market is estimated to be valued at US$ 17.45 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the growth of the global sports hospitality market is the rising participation in sports and fitness activities across the world. As public interest in sports events rises, the demand for associated hospitality services is also increasing. According to data, over 3.8 billion people participated in sports worldwide in 2020, both as recreational players and also as spectators. The growing popularity of international sports leagues such as the National Football League (NFL), English Premier League (EPL), National Basketball Association (NBA) etc. has significantly boosted the demand for sports hospitality facilities in recent years. With increasing health awareness, many countries are also investing heavily on sports infrastructure development which is attracting more participants and viewers, thereby propelling the sports hospitality market forward.
Segment Analysis
The sports hospitality market is segmented based on services offered namely, catering services, accommodation/lodging, transportation/shuttle services, tour/hospitality management services and others. Among these, catering services dominate the market with around 35% share as quality food and beverage service is an important aspect of sports hospitality packages offered to fans and viewers. Catering services ensures personalized catering for VIP guests, exclusive sports lounges and provides customized options for special diets.
Key Takeaways
The global Sports Hospitality Market Growth is expected to witness high growth over the forecast period of 2023-2030. Regional analysis indicates that North America dominates the market currently with around 30% share owing to high popularity of sports leagues like NBA, NFL, MLB etc. in the region. However, Asia Pacific is expected to witness the fastest growth rate over the coming years led by investments in sports infrastructure and hosting of major international sports events in countries like India and China.
Key players operating in the Sports Hospitality Market are Sabra Dental, Collagen Matrix, Cologenesis Healthcare Pvt. Ltd, Novabone, Kerr Dental, Acteon Group, Jorgen Kruuse A/S, Axio Biosolutions Private Limited, Zimmer Biomet, Lynch Biologics,LLC, Nobel Biocare Services AG, Salvin Dental Specialties, Neoss Limited, Unicare Biomedical, Citagenix Inc.
Regional analysis
North America currently dominates the global sports hospitality market led by countries like United States and Canada. Events like Super Bowl, NBA Finals attract huge sports fans annually in countries like US driving the demand for sports hospitality services. However, Asia Pacific region is expected to witness the fastest growth over the forecast period led by investments in sports infrastructure and government initiatives to promote sports tourism in countries like India and China. Countries like India have emerged as hub for hosting major international cricket and field hockey events in recent years augmenting the sports hospitality industry.
Key players
Key players operating in the Sports Hospitality Market are Sabra Dental, Collagen Matrix, Cologenesis Healthcare Pvt. Ltd, Novabone, Kerr Dental, Acteon Group, Jorgen Kruuse A/S, Axio Biosolutions Private Limited, Zimmer Biomet, Lynch Biologics,LLC, Nobel Biocare Services AG, Salvin Dental Specialties, Neoss Limited, Unicare Biomedical, Citagenix Inc. These players are focusing on expansion of services and offerings to diversify revenue sources.
For more insights, read- https://www.ukwebwire.com/sports-hospitality-market-trends-size-and-share-analysis-2/
The research report includes specific segments by region (country), by company, by Type and by Application.
This study provides information about the sales and revenue during the historic and forecasted period of 2015 to 2026.
Understanding the segments helps in identifying the importance of different factors that aid the market growth.Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/61839/global-filled-thermoplasticsthe-consumer-goods-2020-824Segment by Type, the Filled Thermoplastics in the Consumer Goods market is segmented into:Mineral Filled ThermoplasticsFiber Reinforced ThermoplasticsSegment by Application:Consumer AppliancesElectrical and ElectronicsPower ToolsOthersGlobal Filled Thermoplastics in the Consumer Goods Market: Regional AnalysisThe Filled Thermoplastics in the Consumer Goods market is analysed and market size information is provided by regions (countries).
The report includes country-wise and region-wise market size for the period 2015-2026.
It also includes market size and forecast by Type and by Application segment in terms of sales and revenue for the period 2015-2026.The key regions covered in the Filled Thermoplastics in the Consumer Goods market report are:North AmericaU.S.CanadaEuropeGermanyFranceU.K.ItalyRussiaAsia-PacificChinaJapanSouth KoreaIndiaAustraliaTaiwanIndonesiaThailandMalaysiaPhilippinesVietnamLatin AmericaMexicoBrazilArgentinaMiddle East & AfricaTurkeySaudi ArabiaU.A.EGlobal Filled Thermoplastics in the Consumer Goods Market: Competitive AnalysisThis section of the report identifies various key manufacturers of the market.
It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market.
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