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While the world is fascinated by sports like soccer (football), Formula 1 racing, basketball, and baseball, these aren’t the only sports to watch. As the Olympic games regularly show, interest in other, less traditional sports has become increasingly popular as these sports gain momentum. There is little question that people who see the incredible work of snowboarding on television may become interested in the sport itself.
With this in mind, we look at Sponsor United’s 2023 data for the fastest-growing sports in the world, previewed below in descending order based on year-over-year growth. Between an increasing number of strategic partnerships and sponsorship opportunities , many of the sports on this list are growing exponentially. For example, with the meteoric rise of pickleball in the United States alone, it is no surprise that this sport is listed below. The real mystery is what other sports are on this list.
Why Is this Important?
Pickleball is one of the fastest-growing sports in the United States.
The question isn’t really why this is an important topic, but why isn’t it an important topic? The sponsorships and partnerships provided to these sports mean more revenue for each sport and more visibility for every brand participating. Many of these brands are publicly traded Fortune 500 companies or international giants we regularly cover on 24/7 Wall St., which makes this topic very relevant.
10. Pickleball
Pickleball gained a lot of momentum as a sport during the COVID-19 pandemic.
- Year-over-year sponsorship deal growth: +10%-15%
While pickleball might be number 10 on the list of the fastest-growing sports with sponsorship deals, it continues to grow in popularity throughout the United States and worldwide. First invented in 1965 in Washington, the game’s popularity began to pick up steam in 2021 and was named the fastest-growing sport in the US by the Sports and Fitness Industry Association. As of the end of 2023, there are 4.8 million pickleball players.
Because of the game’s growth, sponsors have started to line up to participate in the two professional tours and two professional leagues. USA Pickleball, one of the sport’s governing bodies, has listed Franklin Sports, Skechers, Consumer Cellular, Nature Made, Lipton tea, Biofreeze, and dozens of other brands as premier partners. As of 2023, the PPA Tour includes Carvana, Humana, Baird, and other financial groups, so the sky's the limit for pickleball.
9. Marathons/Triathlons/Road Races
Marathons attract sponsors large and small across the world.
- Year-over-year sponsorship deal growth: +15%-20%
When it comes to major marathon events in the US alone, the list of sponsors is a regular who’s who of the Fortune 500. Bank of America is the title sponsor of the Chicago and Boston Marathons, while CITGO is the title sponsor of the Houston Marathon. Abbot, the healthcare giant, renewed its agreement with the World Marathon Majors Association in 2023, which directs some of the greatest marathons worldwide.
Sponsors are lining up to participate in marathons and triathlons, so it’s hardly surprising that this sport appears on the list. All over the United States, Europe, and around the world, these road race events are big business for sponsors who get to see their brand logos displayed not just on banners but also on the vests and gear of millions of worldwide participants.
8. Major League Rugby
Major League Rugby is only a few years old and already growing fast.
- Year-over-year sponsorship deal growth: +25%-30%
Not to be confused with the World Rugby League, Major League Rugby was founded in 2017 and is a North American-focused group. As of 2023, the league has 12 teams, one Canadian and 11 American. The group is headquartered in Dallas, Texas, and within just a few years, it has already kicked into high gear with growth and sponsorships.
The league is on the upswing between American Airlines, Kappa, Globant, RTIC, Gilbert, and a half-dozen other names. In late 2023, Kappa returned with a landmark three-year partnership that made them the official sponsor of every team kit. This means all match kits, training kits, and fanwear will have the Kappa name.
7. International Cricket Council
The latest ICC tournament drew huge audience numbers from around the world.
- Year-over-year sponsorship deal growth: +35%-40%
The governing body of Cricket, the International Cricket Council, includes 108 member nations and is responsible for many of Cricket’s most prominent international tournaments. The Cricket World Cup, the sport's most significant championship, is notably part of the ICC's purview. Headquartered in both London and Dubai, Cricket has been on the rise for decades, and there is no question the 115-year history of the ICC will culminate in even more growth.
Considering the significant brands the ICC has had as sponsors over the years, including Emirates, Aramco, and DP World, along with global brands like Coca-Cola, there is every reason to say the ICC will continue growing. Notably, the ICC Men’s Cricket World Cup had 26 sponsors, one of the highest levels the tournament has ever seen.
6. World Surf League
The growth of the World Surf League is great news for this once-niche sport.
- Year-over-year sponsorship deal growth: +40%-45%
Boosted by a 2023 deal with Microsoft, the World Surf League and US Surfing, particularly, are rising in popularity and sponsorship deals. The deal with Microsoft is particularly interesting as it enables the company to use AI to help evaluate surfer performances and reduce the risk of injury. While the sport took something of a hit during COVID-19, it has roared back with big prize money and plenty of participants.
Along with Microsoft, big-name brands like ESPN, LifeProof, Hydro Flask, Lexus, Lululemon, Corona, Yeti, Wallex, Rip Curl, and a dozen others are among the World Surf League’s most prominent sponsors. In January 2024, the World Surf League announced the return of Yeti for its second season and the introduction of Lexus and Eventbrite, which shows that 2024 looks to be even bigger.
5. World Rugby League
The World Rugby League has consistently grown as the sport gains more attention.
- Year-over-year sponsorship deal growth: +45%-50%
Unsurprisingly, Rugby is one of the fastest-growing sports in the world, based on sponsorships. A sport that has existed since 1845, Rugby is hugely popular across Europe, Australia, and New Zealand. Around 8 million people are said to play Rugby globally, both amateur and professional. Something of a full-contact sport, Rugby is dirty, messy, and a whole lot of fun to watch.
If you look at the 2023 Rugby World Cup held in France, title sponsors included big names like Emirates, Mastercard, Capgemni, Defender, Societe Generale, and multiple other major brands. With these brands on board, Rugby as a sport has nowhere to go but up. Should Rugby gain a major foothold in North America, the sky's the limit for it to rival other sports on this list that are growing just as fast.
4. Multi-Sport Action Events
The Olympics are one of the world's most watched multi-action sports events.
- Year-over-year sponsorship deal growth: +50-55%
A unique entry on this list, “Multi-Sport Action Events,” is among the most popular and fastest-growing sports in the world based on sponsorships. This includes events like the Olympic Games, X-Games, World Combat Games, Urban Games, and many more. These events occur worldwide and regionally, with the Central Asian Games, South American Games, Caribbean Games, and many others.
As part of this fast-growing event, sponsorships are lining up because of the level of visibility each game possesses when taking place. The Olympics alone is one of the biggest sponsorship opportunities, with brands like Airbnb, Alibaba, Omega, Samsung, Panasonic, Toyota, and many others throwing dollars to have their names adorn event posters and activities.
3. Padel
Padel is a unique racquet-based sport that has grown significantly over the last 10 years.
- Year-over-year sponsorship deal growth: +70%-73%
The International Padel Federation governs the sport, which is believed to have over 25 million players worldwide as of 2023. Worth about $2 billion already, the sport is growing fast and is played on a modified squash court that simulates tennis. Included in the 2023 European games, the IPF hopes to increase membership to 75 national federations so that the sport can grow large enough to participate in the 2032 Olympics.
As the sport gains popularity in the US and worldwide, there is no shortage of sponsors to participate. Bezel, the marketplace for luxury watches, signed on as a sponsor for a New York-based professional padel team. Red Bull, Adidas, Emirates NBD, and GLS Spain are just a few of the international brands signed up as premier Padel sponsors.
2. Mixed Martial Arts
The growth of the UFC and Mixed Martial Arts has been nothing short of extraordinary.
- Year-over-year sponsorship deal growth: +95-98%
Given the popularity of the UFC, it shouldn’t be surprising that mixed martial arts continue to grow. This is undoubtedly one of the fastest-growing sports worldwide, with or without big increases in sponsorship deals. Many martial studios have taught their students jiu-jitsu, Muay Thai, boxing, and other martial arts popular for UFC combatants.
In October 2023, the UFC and Anheuser-Busch, one of the world’s best-known beer brands, announced a multi-year marketing partnership. As the brewer becomes the “Official Beer Partner of UFC,” other partnerships are sure to follow with UFC-like entities worldwide.
1. Skiing and Snowboarding
Skiing and Snowboarding are far and away the most popular growth sport based on sponsorships.
- Year-over-year sponsorship deal growth: +105%-115%
When it comes to skiing and snowboarding, there is no question that they are the fastest-growing sports in the world based on sponsorship deals. According to the Sponsor United report, the combination of these two sports saw an increase in sponsorship activities between 105 and 115 percent in 2023 alone.
In 2022, Missouri-based investment banking company Stifel announced a four-year sponsorship deal that expanded to cover all US Ski teams. This is just one of many sponsorships, including the X Games in June 2024, helping snowboarding and skiing grow quickly.
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