The latest IMARC Group report, titled “Licensed Sports Merchandise Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global licensed sports merchandise market size reached US$ 29.9 Billion in 2021. Licensed sports merchandise refers to apparel and other items relating to sports clubs or athletes, produced and sold in retail by licensed producers of sports goods or retailers to promote their brands. Licensed corporations pay a certain amount of royalty to sports entities for products distributed under a license using proprietary logos and other branding assets. In recent years, licensed sports merchandise has gained traction due to a significant rise in the number of commercialized sports events and tournaments.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Licensed Sports Merchandise Market Trends:
The primary factor bolstering the market growth is the growing popularity of sports leagues due to the global broadcasting by sports channels and online and mobile streaming. Besides this, the rising interest of people in sporting activities has resulted in an escalated demand for sports apparel of major sports teams and sports persons with imprints of logos, names and numbers. Apart from this, the availability of exclusive merchandise apparel on online stores is further contributing to the market. E-commerce platforms have emerged as a safe and viable alternative, which offer a wide range of products and a convenient shopping experience of purchasing authentic premium-quality goods at competitive prices. Moreover, the expansion of product lines by manufacturers to meet the escalating demand for licensed sports products is bolstering the market growth. Looking forward, the market is anticipated to exhibit a CAGR of 4.9% during the forecast period (2022-2027).
- Based on the product type, the market has been segmented into apparel and footwear, accessories and gifts, toys and games, others.
- On the basis of the distribution channel, the market has been categorized into online stores, supermarkets and hypermarkets, departmental stores, specialty stores, and others.
- The market has been bifurcated based on the price range into premium and economic segments.
- On the basis of the end-user, the market has been classified into men, women and children.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, Australia, South Korea, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Adidas AG, Columbia Sportswear, Dick's Sporting Goods Inc., Fanatics Inc., G-III Apparel Group Ltd., Hanesbrands Inc., Nike Inc., Prada, Puma SE, Sports Direct International Plc, Under Armour Inc. and VF Corporation.
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