Licensed Sports Merchandise Market to Worth USD 52.04 Billion by 2030 | Skyquest Technology
Licensed sports merchandise market is segmented based on product, distribution channel and end user. Based on product, the market is segmented into sports apparel (t-shirts and tops, sweatshirts and hoodies, jackets, bottom wear, others (caps, hats, among others), sports footwear, toys and games, and others. In terms of segmentation by distribution channel, the market is segmented into offline and online. Based on end users, the market is segmented into men, women, and children- Industry forecast 2023-2030
Westford, USA, Aug. 02, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the licensed sports merchandise market is experiencing significant progress, fueled by several key factors. The rising number of sports enthusiasts, drawn by the excitement and entertainment of various sporting events, has created a surge in demand for sports-related products and memorabilia.
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- Pages – 271
- Tables – 93
- Figures – 76
The licensed sports merchandise market growth of sports merchandise can be attributed to the flourishing entertainment industry, where sports are positioned as a significant form of entertainment accessible through various digital platforms. The increasing popularity of sports as entertainment has led to a surge in the demand for sports-related products and memorabilia. Moreover, the rapid growth and expansion of e-commerce have significantly contributed to the market’s success.
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Report Scope & Segmentation:
|Market Size in 2022||USD 32.65 Billion|
|2030 Value Projection||USD 52.04 Billion|
Prominent Players in the Licensed Sports Merchandise Market
- Under Armour
- New Era Cap
- Majestic Athletic
- VF Corporation
- G-III Apparel Group
- Mitchell & Ness
- Wilson Sporting Goods
- Rawlings Sporting Goods
- ’47 Brand
- WinCraft Sports
- Forever Collectibles
- McFarlane Toys
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Sports Footwear Segment is Expected to Grow in the Market Due to Growing Fitness Concerns
Sports footwear segment, encompassing running shoes, football shoes, sneakers, and lifestyle shoes, is projected to experience the fastest growth in the licensed sports merchandise market. This surge in demand can be attributed to the growing fitness concerns among consumers, driven by sedentary lifestyles and health problems.
The markets in North America solidified its position as the largest licensed sports merchandise market, and it is projected to maintain its dominance, accounting for approximately 52.01% share of the global market by 2030. This market prominence can be attributed to several key factors driving the region’s demand for licensed sports merchandise.
Offline Segment is Expected to Dominate the Market Due to Unique Advantages Offered by Physical Brick-and-Mortar Stores
Offline segment dominated the licensed sports merchandise market, capturing a significant revenue share of 70.6%. This robust performance can be attributed to the unique advantages offered by physical brick-and-mortar stores. The ability to physically display the products allows customers to interact with the merchandise, examine product features, and try on items before making a purchase.
Regional markets in the Asia Pacific are poised to witness the fastest growth in the licensed sports merchandise market, with an impressive CAGR of 5.3% during the forecast period from 2023 to 2030. This remarkable expansion can be attributed to the increasing acceptance of worldwide fashion trends among the region’s youth and the rising popularity of various international sports.
A comprehensive analysis of the major players in the licensed sports merchandise market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Licensed Sports Merchandise Market
- The South Africa Rugby Union (SARU) and Nike, Inc. entered a significant six-year collaboration agreement in 2022. This partnership will see Nike take on the responsibility of providing the Springboks team with a new set of jerseys, which will debut in July 2023. The agreement also covers the Rugby World Cups for men in 2023 and 2030, solidifying Nike’s commitment to supporting the team’s journey in these prestigious tournaments.
- In 2022, Puma SE made a strategic move in the Indian market by releasing its first specific app. India’s growing demand for branded athletic apparel and equipment presented a lucrative opportunity for Puma, prompting the brand to launch its app in the country ahead of other regions.
Key Questions Answered in Licensed Sports Merchandise Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
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