Hobby & Leisure market in Cyprus

The Cypriot Hobby & Leisure eCommerce market is predicted to reach US$259.3 million by 2024 and accounts for 26.5% of the total eCommerce market in Cyprus. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 15.2%, resulting in a projected market volume of US$456.3 million by 2028. Within the Hobby & Leisure market ECDB considers the following twelve sub-markets: Media, Sports Equipment, Pet Supplies, Toys, Stationery, Crafts & Art Supplies, Bullion & Precious Metal, Camping & Adventure, Musical Instruments, Flowers & Gifts, Other Hobby & Leisure, Erotic & Adult, and Smoking Supplies.

Market development

eCommerce revenue development in the Individual Sports market in Cyprus

The Cypriot Individual Sports eCommerce market is predicted to reach US$33.6 million by 2024 and accounts for 70.8% of the Sports Equipment eCommerce market in Cyprus. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 14.8%, resulting in a projected market volume of US$58.3 million by 2028. The Individual Sports eCommerce market is a sub-market of the Sports Equipment market. Further categories within the Sports Equipment market are: Team Sports.

eCommerce revenue development in the Individual Sports market in Cyprus

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Individual Sports market in Cyprus

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

201720182019202020212022202320242025202620272028
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)13.711.896.096.470.639.449.643.9
as of Sports Equipment (in %)6.76.97.27.46.97.47.57.77.87.98.08.1

Online share

eCommerce online share of the total Individual Sports market in Cyprus

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Cypriot Individual Sports retail market, the online share is 25.3% and will increase by an average of 10.5% to 37.6% by 2028.

eCommerce online share of the total Individual Sports market in Cyprus

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)54.8%46.1%99.7%84.0%65.4%30.2%44.3%74.5%

Market definition

Definition of the Individual Sports market within the Hobby & Leisure market

Market definition: Hobby & Leisure > Sports Equipment > Individual Sports The category Individual Sports includes the online trade of bicycles (e.g. road bikes, mountain bikes, bike accessories), hunting and weapons (e.g. hunting rifles, firearms, ammunition), fishing equipment (e.g. fishing rods, fishing reels, fishing lines) and fitness equipment (e.g. exercise machines, strength training equipment). This category does not cover activewear (e.g. joggers, tights, tricots), non-sport-specific footwear (e.g. running shoes, tennis shoes, basketball shoes) or non-sport-specific accessories (e.g. gym bags, water bottles, sporty hats and caps). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Bicycles (e.g. road bikes, mountain bikes, bike accessories)
  • Hunting and weapons (e.g. hunting rifles, firearms, ammunition)Fishing equipment (e.g. fishing rods, fishing reels, fishing lines)
  • Fitness equipment (e.g. exercise machines, strength training equipment)

Out-of-scope

  • Activewear (e.g. joggers, tights, tricots)
  • Non-sport specific footwear (e.g. running shoes, tennis shoes, basketball shoes)
  • Non-sport specific accessories (e.g. gym bags, water bottles, sporty hats and caps)
  • Fitness trackers

Market comparison

The Cypriot Individual Sports market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis