Market Trends of Recreation Services Industry
Sports Segment to Witness Significant Growth
- Recreation services are all services connected to athletic or entertainment participation events and activities such as pool, golf, billiards, skating, tennis, bowling, health/athletic club memberships, coin-operated amusement devices, video games, and video club memberships.
- However, recreational sports are activities in which participation is the primary objective, and related aims of improving physical fitness, fun, and social engagement have a prominent role to play.
- Individuals, little groups, teams, and whole communities can participate in sports activities that are relevant to all ages, abilities, and levels of skills and soccer. The types of recreational sports people participate in mostly reflect the social systems, local context, and cultural values.
- For instance, the NFL is a professional American football league that was established in 1920 and now consists of 32 franchises divided into two conferences, the National Football Conference (NFC) and the American Football Conference (AFC). The league culminates in the Super Bowl, the NFL's annual championship game. As the league’s championship game, the Super Bowl has grown into one of the world's largest single-day sporting events, attracting high television ratings. The US sports teams dominated the rankings of the world's most valuable sports teams in 2023. The NFL franchise, the Dallas Cowboys, was the most valuable sports team worldwide in 2023, with an estimated value of USD 9 billion.
- In the larger societal effort to improve health, sports are an aspect of overall fitness, often promoted by public health authorities to reduce healthcare costs. Recreational sports, which contribute to healthy lifestyles leading to reduced incidences of serious illnesses, such as diabetes and cardiovascular disease associated with obesity in the general population, are becoming more widespread at both youth and adult levels.
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North America to Hold Significant Market Share
- A large proportion of the population lives in urban areas in North American countries such as the United States and Canada. This market is projected to be stimulated by the increase in disposable income of the population. The United States and Canada are experiencing remarkable growth in tourism, travel, and sightseeing. These factors are encouraging the expansion of regional markets, which are home to many leisure centers across the world.
- Recreational activities are a crucial component of the American culture and lifestyle. Many industry sub-sectors, including swimming, canoeing, kayaking, hiking, and mountain biking, have been popular in the region.
- A notable shift is observed in the consumer focus toward overall well-being, with exercise, diet, mental health, and appearance becoming central parameters. With a widening array of recreational services at their disposal, potential market growth is further facilitated by this evolving trend.
- Canada's outdoor lifestyle and sports are known around the globe. In order to increase their customer base, many amusement parks in the country have added services. For instance, Canada's Wonderland is a 300-hectare amusement park with over 200 shows and roller coasters. It is also the location of Splash Works, a 20-hectare water park.
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