LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global foosball equipment market to grow at a CAGR of over 3% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global foosball equipment market for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers.
Sporting goods retailers offer popular brands of foosball equipment and are, thus, attractive shopping destinations for the consumers in the market. The sporting goods retailers' shops segment dominated the global foosball equipment market in 2016 with a share of 44.58% of the market. DICK's Sporting Goods is one of the key examples of sporting goods retailers.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global foosball equipment market:
Rise in online sales
E-retailing is the fastest growing among all retail segments. In 2014, the overall revenue of this segment was valued at USD 1.35 trillion and is expected to reach USD 2.7 trillion by 2019, growing at a rate of almost 12%-13% by 2019. The biggest players in the global online retail market for foosball equipment are Amazon, Walmart, and Target.
Brijesh Kumar Choubey, a lead retail goods and services research analyst at Technavio, says, “The growing number of online websites offering foosball tables is increasing its demand. E-retailing of various products, including foosball tables, is gaining popularity because of it being a time-saving and cost-effective purchasing process.”
Advent of organized retail
Foosball equipment is primarily sold through organized retail chains like specialty stores and department stores. The retail sectors in developing nations like China, India, and Brazil have been undergoing rapid transition with a rise in organized retail. Organized retailers provide many products under the same roof in a systematic manner.
“The share of organized retail is increasing with a change in government policies and an increase in consumer preference for modern retail channels. Some of the popular department stores selling foosball equipment are Macy’s and Walmart in the US, Tesco in the UK, and Decathlon in India,” adds Brijesh.
Growing demand for high-end game tables
An increase in the number of luxury homes around the world and the need to fill these homes with quality furniture is increasing the demand for high-end game tables. As a result, premium furniture importers like Emerson et Cie are offering high-end game tables. Emerson et Cie offers 10 game tables; most of these tables are suitable for rooms that have secondary seating areas, and the others are suitable for large master suites that have small seating or dining areas.
Top vendors:
- Bonzini
- Garlando Sports & Leisure
- Rene Pierre
- Shelti
- Tornado
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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