IMARC Group’s report titled “Licensed Sports Merchandise Market Report by Product Type (Apparel and Footwear, Accessories and Gifts, Toys and Games, and Others), Distribution Channel (Online Stores, Supermarkets and Hypermarkets, Departmental Stores, Specialty Stores, and Others), Price Range (Premium, Economic), End-User (Men, Women, Children), and Region 2024-2032“. The global licensed sports merchandise market size reached USD 32.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 44.1 Billion by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032.
Factors Affecting the Growth of the Global Licensed Sports Merchandise Industry:
- Expansion of Sports League:
The worldwide appeal and growth of sports leagues significantly contribute to the licensed sports merchandise market. Prominent leagues such as the NFL, NBA, MLB, and UEFA boast extensive fan bases that extend across various continents. The global presence of these leagues has been enhanced by media broadcasting agreements, which allow games to reach an international audience. This extensive visibility enhances fan engagement and loyalty, thereby increasing the demand for merchandise related to teams and players. Additionally, the expansion of these leagues into emerging markets, often through international matches or collaborations, introduces sports and teams to new viewers, generating additional demand for merchandise.
- Expanding E-commerce Industry:
The expansion of e-commerce and online retail avenues has greatly accelerated the growth of the licensed sports merchandise sector. The ease of online shopping, coupled with the extensive selection of products, allows fans to acquire merchandise from virtually any location worldwide. Online platforms offer access to a wider array of items, including exclusive limited editions and merchandise from international teams, which may not be found in conventional retail outlets. Additionally, the emergence of mobile commerce has encouraged impulse purchases, enabling consumers to shop conveniently via smartphones and other mobile devices. E-commerce platforms also utilize digital marketing techniques and social media to effectively reach sports fans, thereby boosting sales. The streamlined shopping experience, enhanced by features such as hassle-free returns, customer feedback, and expedited shipping, continues to draw consumers towards online channels for their sports merchandise needs.
- Influence of Social Media:
The impact of social media and celebrity endorsements is profound in the licensed sports merchandise market. Prominent athletes and sports teams boast large followings on platforms such as Instagram, Twitter, and Facebook, enabling them to interact directly with their fans. This interaction fosters a personal bond between supporters and their preferred players or teams, thereby enhancing the inclination to acquire related merchandise. Furthermore, social media serves as a vital channel for product launches and marketing initiatives, allowing teams and brands to unveil new merchandise and generate excitement and anticipation among fans. Moreover, celebrity endorsements, wherein renowned athletes advocate for specific sports products, play a crucial role in shaping consumer preferences and purchasing behaviors. Fans frequently seek to emulate their sports heroes, which often includes buying the merchandise they promote or wear. The dynamic interplay of social media engagement and celebrity endorsement remains a significant catalyst in the growth of the licensed sports merchandise market.
Leading Companies Operating in the Global Licensed Sports Merchandise Industry:
- 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.
- VF Corporation
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/licensed-sports-merchandise-market/requestsample
Licensed Sports Merchandise Market Report Segmentation:
By Product Type:
- Apparel and Footwear
- Accessories and Gifts
- Toys and Games
- Others
Apparel and footwear represented the largest segment as they provide a visible way for fans to express their allegiance, making them sought-after items.
By Distribution Channel:
- Online Stores
- Supermarkets and Hypermarkets
- Departmental Stores
- Specialty Stores
- Others
Specialty stores represents the largest segment as they are are dedicated to curating a diverse and exclusive collection of products.
By Price Range:
- Premium
- Economic
Premium accounted for the largest market share as it boasts superior materials, attention to detail, and innovative designs.
By End User:
- Men
- Women
- Children
Men accounted for the largest market share as appeal of licensed sports merchandise to men is multifaceted.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Licensed Sports Merchandise Market Trends:
Companies are prioritizing the improvement of fan engagement through the provision of personalized and customizable sports merchandise. Supporters now have the opportunity to customize jerseys, clothing, and accessories with their own names or those of their preferred players, including their respective numbers. Additionally, there is a rising interest in retro and vintage-style sports merchandise. Designs that evoke nostalgia and feature classic team logos are favored by fans across various age groups. Furthermore, the growing awareness of environmental issues has prompted the creation of eco-friendly licensed sports merchandise. Brands are increasingly utilizing sustainable materials and implementing environmentally responsible practices in their production processes.
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