The Cricket Market in Japan is seeing minimal decline with a slow growth rate, influenced by factors such as increasing consumer interest in digital technologies and health, as well as the convenience of online services. This is evident in sub-markets like Cricket Media and Ticket Sales, indicating a potential shift towards digital platforms within the sports industry.
Customer preferences:
There is a growing interest in cricket among young adults in Japan, fueled by the rise of the sport in surrounding Asian countries. As a result, there has been a noticeable increase in demand for branded merchandise and team apparel. This shift towards fandom and sports merchandise reflects a cultural fascination with expressing individual identity and supporting local teams. Additionally, with more virtual spaces for sports communities to gather, such as online forums and social media, there has been an increase in digital engagement and fan culture among cricket enthusiasts in Japan, indicating a strong potential for growth in the market.
Trends in the market: In recent years, the Japanese Cricket Market has witnessed a rise in popularity due to the success of the national team in international tournaments. This has led to an increase in corporate sponsorships and investments in infrastructure. In addition, there is a growing trend of incorporating technology into cricket, such as using drones for broadcasting matches and virtual reality for training. This trend not only enhances the spectator experience but also helps players improve their skills. However, as the market continues to grow, there may be a lack of local talent development and reliance on foreign players, which could have implications for the sustainability of the sport in Japan.
Local special circumstances: In Japan, the Cricket Market within the Sports Market is heavily influenced by cultural factors. Cricket is not a popular sport in Japan, and the country has its own traditional sports like sumo and judo. Despite this, the market is slowly gaining traction due to the increasing interest of locals in foreign sports. This has been further promoted by the entry of Japanese players in international cricket leagues. Additionally, the aging population and increasing health consciousness is driving demand for cricket as a form of exercise, leading to the growth of cricket academies and clubs.
Underlying macroeconomic factors:
The growth of the Cricket Market within the Sports Market segment in Japan is greatly influenced by macroeconomic factors such as consumer spending, economic stability, and government policies. As Japan continues to experience strong economic growth and a stable fiscal environment, there is a greater potential for the Sports market to thrive. Additionally, the increasing popularity and investment in sports, including cricket, by the Japanese government and private companies further fosters market growth. Moreover, with the rise of digital platforms and technologies, the cricket market is expected to witness significant growth in terms of digital media and online streaming, promoting accessibility and growth in this market.
Data coverage:
The data encompasses B2C and B2B revenues. Figures are based on media spending, merchandise spending, and ticket spending. All monetary figures for merchandise and tickets refer to consumer spending on goods or tickets in the respective segment, which can be online and offline.Modeling approach / Market size:
Market sizes are determined through a combination of bottom-up and top-down approaches, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per ticket, price on sport goods). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function or linear forecasting, as it fits the development of either strong growing markets or more sophistacted and saturated markets, such as soccer in Europe.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). We also account for the different cycles of international tournaments, such as world cups or continent cups. Consumer Insights data is reweighted for representativeness.
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