DUBLIN, Dec. 21, 2022 /PRNewswire/ — The “Licensed Sports Merchandise Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030” report has been added to ResearchAndMarkets.com’s offering.
The market for licensed sports merchandise is projected to grow at a CAGR of 7.2% during the forecast period of 2022 to 2030
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
One of the primary aspects that is contributing to the expansion of the market is the growing number of people who are interested in participating in sporting activities. This trend is also being fuelled by the acceleration of urbanisation and the expansion of the online retail sector.
Another reason that is contributing to the industry’s expansion is the introduction of cutting-edge fabrics that are breathable, lightweight, and waterproof in athletic apparel and accessories. Products such as jerseys, socks, tracksuits, t-shirts, bottoms, and activewear that are printed with the logos of major sports teams have experienced an enormous surge in popularity among consumers who desire fashionable casual and gym wear.
It is anticipated that further factors, such as expanding spending capacities among consumers and growing investments in sports licencing across the world, will drive the market even further.
It is anticipated that the market for officially licenced sports merchandise will expand in the not-too-distant future as a result of the growing propensity of the younger population toward product that show support for their favourite team, such as phone cases, mugs, helmets, balls, key chains, and wallets.
A further factor that would contribute to the expansion of the global market is the rising popularity, particularly among younger people, of a variety of national and international leagues.
Increasing Awareness about Licenced Merchandise Boosting Sales
When merchandise is sold bearing copyrighted logos, designs, and other brandings, the licencing businesses owe a specific amount of royalties to the sports organisations on whose behalf the logos and designs are used. This helps to reduce trademark infringements committed against teams and athletes and also contributes to the prevention of the production of counterfeit goods associated with sports-related businesses.
Significantly Increasing Number of Sports Enthusiasts
An increase in the number of people participating in sports has resulted in a rise in the number of people purchasing licenced sports products. Since the beginning of this century, there has been an exponential increase in the number of people taking part in sporting events. This can be attributed to two factors: an increasing desire for entertainment on top of a heightened awareness of the importance of maintaining a healthy lifestyle.
Increased Commercialization of Sports
The increasing commercialization of sporting events and competitions has caused a commotion in the international market for sports items. The introduction of new opportunities to popularise sports products is a topic on which there is relatively little disagreement. The federal government as well as state and local authorities are making significant investments in sports apparel and equipment. This emerging trend can be ascribed to the efforts of government officials to increase the number of people who attend sporting events.
Increased Access to Sports Merchandise due to Online Shopping Platforms
The most important factor in the development of the licenced sports merchandise market is the rise of the industry of online shopping, also known as e-commerce. Consumers enjoy shopping online because it enables them to select their preferred products in a manner that is both more convenient and of a higher quality at a lower price.
Competition to Intensify as Market Remains Fragmented
The market for licenced sports items is a very competitive, and there are many significant companies operating across countries. Major companies that are dominating global market includes Adidas AG, Under Armour, Inc., Nike Inc., Puma SE, and others. Tier 1 players in the market, are focusing on new product launch and partnerships as their primary strategy.
Availability of Counterfeit Merchandise is the Most Impactful Restraint
The availability of counterfeit merchandise in a lot of countries is one of the issues that is significantly barricading the market growth for licenced sports merchandise. Additionally, it is possible that the expansion of the market in the foreseeable term would be limited by increases in the pricing of goods.
Video Games and Software to Account to the Largest Growth During the Forecast Period
Based on the type of product, the market for licenced sports products has been segmented into submarkets that include sports footwear, sports apparel, videogames, sports accessories and toys, and others. During the forecast period 2022 to 2030, it is anticipated that the market share held by sporting goods, including clothes and accessories, will increase considerably.
When compared to the previous period, the revenue growth rate of video games and computer software is anticipated to improve significantly during the forecast period. It is anticipated that the key drivers for the expansion of the market will be licencing for traditional games inspired by popular movie franchises and the shift toward video gaming supported by a growing consumer base.
Online Platform to Emerge as an Independent Distribution Channel
The store-based category encompasses a wide variety of retail establishments, including supermarkets, hypermarkets, and specialty stores. It is anticipated that online sales, also known as e-commerce, would play a significant role in the sales of licenced sports items all over the world.
During the forecast period e-commerce will establish itself as the most dominant distribution channel for licenced sports items. Growth in the business has been sparked by a number of factors, including the quickening pace of the increase in the number of internet connections and the growing acceptance of e-commerce as a secure and workable alternative to more conventional methods of selling.
North America Dominating Revenues
The Licensed Sports Merchandise Market of North America dominated the global market in 2021. This is mostly attributable to the high living standards in the region and the robust purchasing power of customers in the region. In addition, the size of the market is likely to expand in the near future because of the tremendous popularity of sports leagues in the region, including the National Hockey League (NHL), the National Basketball Association (NBA), the Canadian Football League (CFL), and the National Football League (NFL). In 2021 North America accounted for over 25% of the total revenues.
Asia to Dominate Growth
It is anticipated that the Asia-Pacific region will be the market for licenced sports merchandise that will expand at the fastest rate during the forecast period of 2022 to 2030. This is due to the growing popularity of various international sports among teenagers, as well as the increased adoption of fashion trends that cross-culturally.
Both of these factors are anticipated to boost the market growth of licenced sports merchandise in the Asia-Pacific region. during the forecast period of 2022 to 2030. In addition, the demand for sports licenced accessories such as sunshades, seat covers, cushions, phone cases, game cards, wallets, mugs, and keychains in developing Asia Pacific nations such as India, Japan, and China are anticipated to drive market growth.
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of Licensed Sports Merchandise market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Licensed Sports Merchandise market?
Which is the largest regional market for Licensed Sports Merchandise market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Licensed Sports Merchandise market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Licensed Sports Merchandise market worldwide?
Breakup by End-User:
Region Segment (2020 – 2030; US$ Million)
Global Impact of Covid-19 Segment (2020-2021; US$ Million )
Pre Covid-19 situation
Post Covid-19 situation
For more information about this report visit https://www.researchandmarkets.com/r/z4nmqm
Research and Markets
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