The sports market in an Olympic year
Paris 2024 Olympics
The Paris Olympics, which will take place between July 26 and August 11, 2024, is the most expected event by the Brazilian population this year. Without a doubt, it's an event that has a great capacity to impact the economy and the population's consumption in terms of the sporting goods market.
It's a fact that many Brazilians become more interested in sports during major events, such as the famous Olympic games. Therefore, this is the ideal time to promote sports, gain new supporters and sell sports-related items.
The sports market
An interesting facet of this vast market it's ability to boost multiple business sectors. When a person starts their journey at the gym, for example, they become a customer with great potential to purchase trendy fitness products, supplements, accessories and even cosmetics aimed at sports.
Within these branches, fitness fashion currently represents around 20% of the clothing sector in Brazil, with a total value estimated at R$141.7 billion, according to the Brazilian Association of Textile and Apparel Industry (Abit).
On the other hand, the supplements sector generates a turnover of more than R$2 billion annually, according to information from the Brazilian Association of Manufacturers of Nutritional Supplements and Foods for Special Purposes (Brasnutri) and the Brazilian Association of Nutritional Products Companies (Abenutri) .
Practicing physical activities, therefore, not only promotes people's health and well-being, but also presents itself as an economic force, responsible for boosting thousands of companies in the Brazilian sports market.
Why investing in the Sports Segment is a great alternative?
First of all, it is essential to understand why this market is a true pot of opportunities for new entrepreneurs. Brazil not only occupies second place in the global ranking of gym attendance, but also ranks as the second country with the largest number of gyms in operation. This data, extracted from the Brazilian Institute of Geography and Statistics (IBGE), reflects how promising the fitness segment is for those looking to undertake.
In addition to the reasons highlighted above, which put Brazil in the spotlight as a highly attractive environment for ventures in this segment, it is worth highlighting that the national sports sector is going through a true revolution, opening doors to a multitude of new business opportunities. Previously little-known sports are gaining exponential popularity, such as street racing (which can be seen on the main social networks, such as Tik Tok and Instagram), rugby, skateboarding and even American football.
With the increase in popularity and the number of practitioners, these sports are gaining more and more space within society and the media. Another factor driving the growth of this sector is people's growing interest in health and well-being. This specific niche in the sports segment is expanding its market share and generating billions of dollars annually and
Growth potential of the sports market
According to the Statista website, revenue in the sports equipment market is expected to reach US$36.12 billion in 2024, with an annual growth rate (CAGR 2024-2028) of 6.87%, resulting in a projected market volume of US$ $47.12 billion by 2028. Regarding the number of users in the sports equipment market, the number reaches 1,242.0 million by 2028.
Therefore, the opportunities in the sports segment are vast, and it is essential to demonstrate creativity when choosing the niche and develop solid and well-prepared planning. The future of the Brazilian sports market is full of promises and innovations, just waiting for entrepreneurs
By Nina Greiner on 28/02/2024
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