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How to innovate in sports

Synergy Flavors, the global manufacturer and supplier of flavors, extracts and essences, has published a report entitled “Powering the Future of Esports” ​in which its industry experts discuss the fast-growing and dynamic sports and video game markets and the opportunities therein.

According to the report, the global gaming market is now worth around $152 billion but continues to experience significant growth (9.6% YoY). Not only that, but gaming also has a near-global appeal with large markets in most parts of the world.

Not surprisingly, the largest share of this market is in Asia-Pacific ($72.2 billion), but $34.7 billion of the market comes from Europe and Africa, with an impressive growth of 11.5% in Year-to-year comparison (Nutrition Integrated).

Despite a significant spate of launches in this space, innovation was heavily weighted into one product type – energy drinks – which accounted for 48% of those launches, Synergy says.

The company therefore conducted its own research to understand the different cliques within the gaming community and their different needs, with the aim of proposing innovations that can take the category to the next level.

A motley crew

“The first thing to understand is that gaming groups are far from homogeneous, although most media analysis often tries to portray them as such,” explains the report.

Gaming data analysis company NewZoo has divided the gaming market into six broad demographic groups based primarily on frequency of gaming: The professional gamer (eSports player), the mega-influencer (streamer), the micro-influencer (content creator) and the gaming enthusiast (gamer).

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