Water polo is a water-based team sport in which two teams of seven players compete against each other. Water polo is played in four quarters, with each team aiming to score goals by tossing the ball into the other team's goal. A water polo ball is a big ball used in water polo and canoe polo that is generally bright yellow in color and easy to grasp, allowing it to be carried in one hand despite its size. The increasing popularity and acceptance of water polo as active activity drives the industry in large measure. In addition, luxury resorts and hotels provide sports activities in their facilities, one of which is water polo. The construction of water polo courts to attract and support employers as a healthy leisure activity drives increasing hotels and resorts revenue revenues. With the outbreak of the COVID-19 pandemic, the government imposed a lockdown, limiting customers' outside mobility. Due to the restriction of outdoor mobility, demand for water polo balls has decreased.
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COVID-19 Impact Analysis
- Due to the outbreak of the COVID-19 pandemic, countries had to enforce lockdown that restricted the consumers to move outdoors. Due to that, the demand for water polo balls decreased. The water polo ball market saw a dip in production as sufficient labours were not available to continue the production process. The sales procedure couldn't complete as there was the unavailability of stocks in stores and online retails.
- Disruption in the distribution channel was a significant reason because the manufacturing sectors were unable to obtain the appropriate raw material. It was not feasible to transport final items to specific retailers. Consumers could not visit the specialist shops, whilst websites were not available online.
Top Impacting Factors
- The market is anticipated to be affected by the increasing popularity of water polo as a sport in various countries. The expanding wealth of the middle-class public and the increasing number of water polo players in the past few years may be linked to an important increase in demand for water polo equipment.
- The increasing popularity and acceptance of golf as active activity drives the industry in large measure. In addition, luxury resorts and hotels provide sports activities in their facilities, one of which is water polo. The construction of water polo courts and crossbars to attract and support employers as a healthy leisure activity drives increasing in hotel and resorts revenues.
- Specialty shops in the world market of water polo equipment offer a range of different brands of water polo items to select from; consumers are thus favored to buy water polo equipment. However, with attractive discount policies given by the vendors, department & discount stores are projected to develop at a substantial rate. In addition, internet shops became the main distributor of water polo equipment.
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Market Trends
Water Sports is gaining popularity and attraction in the distribution channel
The water polo ball market is driven by several factors, for instance, the increasing popularity of world beach games promoted by the Association of National Olympic Committees, and the rising number of water sporting facilities all across the globe. These factors are projected to drive the water polo ball market throughout the forecast period. Furthermore, manufacturers are enhancing their distribution channels to increase sales. As a result, the market is estimated to witness the rising adoption of water polo equipment.
Fluctuation in Raw Material Prices is hindering the growth of the water polo ball market
Many consumers use water polo balls for practice which is acquired on a rental basis. Additionally, high fluctuation in raw material prices is estimated to restrain the water polo ball market throughout the forecast period. Therefore to overcome the limits, the organizations are using inferior quality materials in the production of the final product. Usage of inferior quality material helps the small scale manufacturers to cut down the final cost. The low quality and high price of the product are both contributing to the water polo ball market's decline in growth.
New product launches to flourish the market
The manufacturing companies have to invest in R&D to develop water polo balls with new material that makes the ball more sturdy and lightweight. A new style of the water polo ball will attract consumers with increasing popularity, may increase sales. Progress in technology in water polo balls should offer a new chance for the water polo business.
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Key Benefits of the Report
- This study presents the analytical depiction of the water polo ball industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the water polo ball market share.
- The current market is quantitatively analyzed to highlight the growth scenario of the water polo ball market.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed water polo ball market analysis on the basis of competitive intensity and how the competition will take shape in coming years
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