- The global licensed sports merchandise market holds a substantial chunk of revenues within the worldwide sports industry. Commercialization of sports events and tournaments has created a stir across the global sports merchandise market. There is little contention about the emergence of new possibilities for popularising sports merchandise. The government and state authorities are making formidable investments in sports merchandise. This nascent tendency can be attributed to the quest of government authorities to popularise sports events. Commercialization of sports at international levels has created employment opportunities for a large population. Besides, sports events have transformed into hubs for large entities to invest their money in. Owing to the aforementioned factors the total volume of revenues within the global licensed sports merchandise market is set to grow.
- Several regulatory frameworks pertaining to various sports events make it mandatory for players to adhere to strict protocols for sports kits including clothing and other merchandise. This has compelled teams to provide licensed sports merchandise to the players. Besides, a number of events promote their logos and names on sports merchandise. This trend has also created new opportunities for growth within the global market.
- The growing popularity of international leagues such as the English Premiere League and La Liga have helped in driving demand within the global sports merchandise market. Furthermore, use of licensed sports merchandise has helped in maintaining uniformity and sophistication across sports events. It is legit to expect the inflow of fresh revenues into the global sports merchandise market.
- Several companies have grabbed on the opportunity to brand and market themselves using sports merchandise. Official sponsors of sports events sign agreements to get their logos printed on T-shirts, kits, and sports equipment of players. Furthermore, these entities also use sports merchandise to come in the public eye for long-term growth and promotions.
Licensed Sports Merchandise Market – Snapshot
Global licensed sports merchandise market is expected to grow with a CAGR of 6.5% from 2019 to 2027. Organized retailing and marketing coupled with effective branding by major vendors is expected to open new market opportunities for the licensed sports merchandise market globally. The market is primarily dominated by professional sports leagues. In addition to this, increasing demand and fascination of consumers toward licensed sports goods as well as the increase in popularity of leagues across the U.S. helps to increase in adoption of licensed sports apparel for their favorite sports team and team player.
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In terms of geography, the licensed sports merchandise market is segmented into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America. Regionally, North America accounted for the largest market share in 2018 and is anticipated to grow steadily due to increasing popularity of sporting leagues and their increasing fan base. Asia Pacific is estimated to grow at a higher pace in coming years. Rising number of sports league in developing economies is driving the market growth. Large multinational companies invest significantly in marketing and product distribution in Asia Pacific.
Online sales or e-commerce is expected to play a crucial role in the sales of licensed sports merchandise across the globe. E-commerce is likely to emerge as the most prominent distribution channel of licensed sports merchandise over the coming years. The swift growth of the number of internet connections and the rising acceptance of e-commerce as a safe and feasible alternative to traditional retailing channels, has triggered growth in the industry.
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Consumers are more attracted towards online shopping and e-retailing. Another reason for the success of online sales channel is the brand name that attract consumers to visit their sites. Licensed sports equipment is one of the most demanded consumer goods sold through e-commerce. Thus, the rise in the number of e-commerce and fashion websites is set to create potential opportunity for the growth of this market in the near future.
The TMR report on the global Licensed Sports Merchandise market is based on a complete and comprehensive evaluation of the market backed by secondary and primary sources. The competitive scenario of the global Licensed Sports Merchandise market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the global Licensed Sports Merchandise market arrive at predictions and estimations, and calculate the forecast for the market.
The report uses an analytical triangulation method to estimate the numbers and figures of the global Licensed Sports Merchandise market with both bottom-up and top-down approaches.
The detailed assessment of the global Licensed Sports Merchandise market, along with an overview of the landscape is provided based on a careful examination of the avenues related to this market. Analysts’ conclusions on how the global Licensed Sports Merchandise market is set to grow are based on carefully vetted primary and secondary sources.