Licensed Sports Merchandise Market overview:
The Licensed Sports Merchandise Market is expected to reach USD 34.67 billion by 2030, growing at a 6.45% CAGR between 2022 and 2030.
The licensed sports merchandise market is expected to expand during the forecast period due to the growing inclination of the young population toward merchandise such as phone cases, mugs, helmets, balls, key chains, and wallets in support of their favorite team. Furthermore, the growing interest of the young population in various national and international leagues will fuel global licensed sports merchandise market growth. Massive global marketing campaigns and product promotion via celebrity endorsements have contributed to the industry's growth. Furthermore, the increased number of sports leagues worldwide has increased sales of licensed sports merchandise. Female participation in sports has also expanded the market's scope.
Due to strict government guidelines and restrictions during the Covid-19 pandemic, outdoor games and sports were hampered. Sports clubs, fitness studios and gyms were the first businesses to close due to government regulations limiting the spread of the Covid-19 virus. In addition, major sporting events such as the Olympics and World Cups were halted due to the pandemic, affecting sales of licensed sports merchandise even further. The growing entertainment industry, in which sports are marketed as a major entertainment type through various digital platforms, is attributed to the growth of the licensed sports merchandise market overview. E-commerce growth and expansion have also played an important role in market growth. Online purchasing allows one to select one's favourite products at a discounted price.
Key Companies in the licensed sports merchandise market includes
Quiksilver, Inc. (US),Puma SE (Germany),Li Ning (China),Fanatics, Inc. (US),Adidas AG (Germany), ,Sports Direct International plc (UK), ,G-III Apparel Group (US), ,Knights Apparel, Inc. (US),Ralph Lauren Corporation (US),Nike, Inc. (US) are some of the licensed sports merchandise market
Market segmentation
The worldwide Licensed Sports Merchandise Market overview is segmented based on product type, price range, distribution channel and end-user.
According to product type:
- Sports accessories toys
- Sports Apparel
- Sports Footwear
- Video games
- Others
According to price range:
- Premium
- Economic
According to distribution channel:
- Store-based
- Non-store-based
According to End-User:
- Children
- Women
- Men
Regional analysis:
The global licensed sports merchandise market is divided into Asia-Pacific, North America, Europe, and the rest of the world (RoW).
The licensed sports merchandise market size of North America are expected to dominate the global market during the review period due to the region's strong purchasing power and high living standards. Furthermore, the market is expected to grow due to the popularity of sports leagues such as the Canadian Football League (CFL), National Football League (NFL), National Basketball Association (NBA), and National Hockey League (NHL) in the region.
The Asia-Pacific regional licensed sports merchandise market trends are expected to grow fastest during the assessment period. The market in this region is expected to increase due to the growing interest in sports such as football and cricket among the Asia-Pacific population. Furthermore, sports-themed accessories such as sunshades, cushions, seat covers, phone cases, wallets, game cards, etc., in developing countries such as Japan, India, and China are expected to drive market growth. Furthermore, to demonstrate its presence in the region, the Juventus Football Club of Asia-Pacific distributed its licensed products, such as automobile accessories, apparel, luggage, and electronics, in China, Japan, and Australia.
Recent Developments:
- Puma expanded its partnership with the W Series, an international motor racing championship for female drivers, in 2022 to provide high-performance and flame-retardant racewear for female drivers.
- Puma India has extended its partnership with Indian cricketer Yuvraj Singh until 2021. Yuvraj Singh is now the Indian face of the Puma Motorsport collection.
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