The sports hospitality market consists of various hospitality services provided at sports events. This includes food and beverage services, accommodation services, ticketing, travel and tourism services, and other hospitality and information services related to sports events. Sports hospitality services enhance fan experience at sports venues and major sporting events. Food and beverage concessions within sports stadiums generate significant revenue, while accommodation facilities around sporting grounds capitalize on tourists visiting for games. Sporting facilities and event organizers are investing heavily in upgrading hospitality infrastructure and services to attract more audiences.

The global Sports Hospitality Market is estimated to be valued at US$ 17.45 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The key trend in the sports hospitality market is the growing demand for premium and customized services. Spectators and fans are willing to pay more for enhanced sports viewing experience through exclusive hospitality packages. Sports hospitality providers offer wide range of premium offerings such as luxury suites and lounges, fine dining options, valet parking, concierge services, and luxury transportation among others. They are personalized as per customer preferences to offer unique experiences. This premiumization trend has boosted the average spending on sports hospitality over the years. Furthermore, growing popularity of sports leagues worldwide has augmented the demand for international travel and tourism revolving around major sporting events. Sports hospitality operators are tapping into this opportunity by designing international travel packages for global sporting fixtures. Such diversification of service offerings based on customer trends will further propel the sports hospitality market growth in the coming years.

Porter’s Analysis

Threat of new entrants: The sports hospitality market requires high capital investments and has a significant presence of global major players limiting the threat of new entrants.

Bargaining power of buyers: The presence of large organizations and associations in the market gives buyers a higher bargaining power.

Bargaining power of suppliers: Established supplier networks limits the bargaining power of suppliers in the market.

Threat of new substitutes: There are no close substitutes for the specialized services provided limiting threat from substitutes.

Competitive rivalry: The market has presence of global major players increasing competitive rivalry.

Key Takeaways

The global Sports Hospitality Market Growth is expected to witness high growth during the forecast period. The market size is projected to reach US$ 31 Bn by 2030 from US$ 17.45 Bn in 2023, expanding at a CAGR of 5.9%.

Regional analysis:

North America dominates the market currently owing to high participation in sports and established infrastructure. However, Asia Pacific is expected to witness fastest growth on back of rising sports activities and improving infrastructure in countries like China and India.

Key players:

Key players operating in the Sports Hospitality Market are Sabra Dental, Collagen Matrix, Cologenesis Healthcare Pvt. Ltd, Novabone, Kerr Dental, Acteon Group, Jorgen Kruuse A/S, Axio Biosolutions Private Limited, Zimmer Biomet, Lynch Biologics,LLC, Nobel Biocare Services AG, Salvin Dental Specialties, Neoss Limited, Unicare Biomedical, Citagenix Inc. Sabra Dental and Collagen Matrix captured majority market share in 2022.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it