Licensed Sports Merchandise Market: Current Analysis and Forecast (2022-2028)

Licensed Sports Merchandise Market: Current Analysis and Forecast (2022-2028)

Licensed sports merchandise are the products that are launched by any sports person or any sports club or franchise. The rising number of sports enthusiasts along with the increasing number the sports activities are the prominent reason for the market growth of the licensed sports merchandise market. Furthermore, the proliferating online retail stores and rapid urbanization are the other factors responsible for the market growth of the licensed sports merchandise market. Additionally, the rising celebrity status of the sportsperson is also an important factor that rises the demand for the sports product in the market.

Therefore, an increasing number of sports fans is expected to drive the global licensed sports merchandise market at a CAGR of 6%, during the forecast period. Other factors such as the rising number of sports enthusiasts, along with rapid urbanization and the proliferation of the online retail sector, are other key factors driving the growth of the market. Furthermore, a significant increase in the number of regional and international sports leagues is also providing a boost to market growth.

COVID-19 has a staggering effect and has a negative impact on the global economy due to imposed lockdowns and government restrictions. Furthermore, the market for sports goods also had a negative impact owing to the decrease in the number of sports activities and restrictions on public gatherings in the stadiums.

• Based on the product type, the market has been categorized into apparel & footwear, accessories & gifts, toys & games, and others. Among them, the apparel & footwear segment is expected to have significant growth in the market. The popularity of sportswear in the fashion industry is also responsible for the high popularity of sportswear among people. Furthermore, the high durability and the immense demand for sweatproof clothing in the gym and athletics are also important factors driving the segmental growth in the licensed sports market.
• Based on the distribution channel, the market has been categorized into online stores and offline stores. Among them, the online store segment is expected to have significant growth in the market during the forecast period. The rising internet penetration and the increasing number of e-commerce platforms contribute to the market growth of the licensed sports merchandise market. For instance, in June 2022, the Internet penetration rate in India went up to nearly around 47% in 2021.
• For a better understanding of the market adoption of the licensed sports merchandise industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a significant licensed sports merchandise market due to the presence of various sports franchises along with the higher disposable income of the people in the region. For instance, the average household net-adjusted disposable income per capita is USD 51,147 a year.
• Some of the major players operating in the market include Adidas AG, Columbia Sportswear, Dick's Sporting Goods Inc., Fanatics Inc., G-III Apparel Group Ltd., Hanesbrands Inc., Nike Inc., Prada, Puma SE, and Sports Direct International Plc.