Discover the limitless opportunities of the Indian sports market for investors and the economy!
The Indian sports market is a huge industry growing rapidly, thanks to the increasing popularity of sports in India. The IPL has become very popular and draws in millions of viewers. But there’s much more to the Indian sports market than just the IPL.
The Indian sports market is reinforced by various industries, like:
- Sporting goods industry
- Sports management industry
- Event management industry
- Sports media industry
- Sports technology industry
- Sports infrastructure industry
- and the Sports tourism industry
So, if you’re interested in Indian sports, stick around! We’ll explore the exciting opportunities that this booming market has to offer.
What’s Happening?
The sports market and associated industries are significant contributors to the Indian economy. This industry employs lakhs of people and has become a considerable development centre in different regions.
The sports goods industry is one of the global market’s oldest and most dominant industries. With a solid and skilled workforce, it has played a vital role in generating employment opportunities in India. Currently, this industry employs over 5,00,000 people. Uttar Pradesh, Punjab, Maharashtra, Delhi, Tamil Nadu, Jammu, and West Bengal are some of the states in India that are recognized as the top producers of sports goods.
According to a report by the India Brand Equity Foundation (IBEF), India exported sports goods worth $546 million during 2021-22. This is a significant increase compared to the exports worth $402.44 million in 2020-21.
The Indian sports media market is also growing rapidly. According to TV18, the Indian sports media market was valued at $1 billion in 2020 and is projected to reach $13.4 billion by 2027. This growth indicates the increasing interest and engagement of the Indian audience in sports media, which further fuels the development of this industry.
Trends and Opportunities in the Sports Market
India has become a significant market for e-sports, with more and more people taking an interest in playing video games. This emerging market of e-sports in India presents enormous potential for the industry in the coming years.
Currently, many sports leagues are organized in India, with some of the most popular ones being IPL, Pro Kabaddi League, Indian Super League, Hockey India League, Premier Badminton League, and more. These leagues have lucrative TV broadcasts, and media reach, making the Indian sports market even more attractive.
Indian women have achieved success at the global level in various sports, and their participation is increasing. The development of women’s sports leagues in India is expected to boost the sports industry. As more opportunities and support become available, the Indian sports sector is likely to grow even further.
What’s in it for Investors?
With the sports market in India advancing, it will greatly benefit the Indian economy.
As per a Statista report, the total revenue of the sports segment in India is expected to grow at a compound annual rate (CAGR 2022-2027) of 14.94%. This growth rate indicates the rising popularity of sports and the increasing interest of people in the sports market. The market volume is estimated to reach US$17.36 million by 2027, a significant increase compared to the current market size.
That’s it for today. We hope you’ve found this article informative. Remember to spread the word among your friends. Until we meet again, stay curious!
*The article is for information only. This is not investment advice.
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