Global Licensed Sports Merchandise Market Expected to Reach US$ 46,881.6 Mn by 2
Posted by surendra choudhary on April 8th, 2019
The global licensed sports merchandise market is expected to reach a value of US$ 46,881.6 Mn by 2026. The market is estimated to expand at a CAGR of 4.8% during the forecast period from 2018 to 2026. In terms of volume, the market is expected to reach 1184.9 million units at a CAGR of over 4.1% by 2026. The Asia Pacific licensed sports merchandise market is projected to witness the highest growth during the forecast period. With growing consumer preference and huge market potential, the licensed sports merchandise market is expected to witness considerable growth in the coming years.
In this report, on the basis of product category type, the licensed sports merchandise market is segmented into sports apparel, sports footwear, sports accessories, toys and videogames or software, domestic and housewares, and others. Others licensed sports merchandise type includes souvenirs, gifts or novelties, consumer electronics, and food and beverages. Based on distribution channel type, the licensed sports merchandise market is bifurcated into e-commerce or online stores and offline stores. Offline stores are further segmented into departmental stores, specialty stores, and others. Others offline stores segment includes mass stores, supermarkets, and discount stores. Globally, sports apparel type dominates the market in terms of revenue.
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Sports apparel segment held the largest share in the global licensed sports merchandise market, accounting for more than 30.0% share in 2017. Sports apparel constituted a majority share in terms of revenue in the North America licensed sports merchandise market in 2017 and this trend is expected to continue over the forecast period. The growing number of sporting leagues and their fan base is propelling the demand for licensed sports goods. With the increasing disposable income, most customers are ready to pay extra for licensed sports products to support their favorite sports team and players.
In terms of licensed sports merchandise product category type, video games or software is the most potential market which is expected to witness significant growth rate during the forecast period due to its growing popularity among consumers of all age groups and also due to strong performance of mobile games. Hence, growth of this particular product category is on the rise and is anticipated to maintain its position during the forecast period from 2018 to 2026.
Growth in the licensed sports merchandise industry is driven by rise in number of sporting leagues across North America specifically in the U.S. Future growth in the licensed sports merchandise market is anticipated to be fuelled by the innovation and development of more attractive and stylish sports apparel and sports accessories. Retail sales of licensed sports goods based on sports events and leagues has experienced steady growth in the past few years and this trend is expected to continue over the forecast period from 2018 to 2026. With improved economic conditions, consumers are expected to spend lavishly on licensed sports goods to support their favorite sports team in developed countries such as the U.S., Canada, Germany and the U.K.
By geography, North America held the largest market share in the licensed sports merchandise market in 2017. North America is a mature market for licensed sports goods, in particular sports apparel and sports accessories. However, Asia Pacific is expected to be one of the most potential markets for licensed sports goods owing to rising disposable income, high population density, and rising number of sports loving people who are ready to pay considerable amounts for products that are original. It is anticipated to be the most swiftly developing region due increasing demand for licensed sporting goods in developing economies of China and India. China was the major contributor to the growth of the Asia Pacific licensed sports merchandise market. All these factors have propelled the growth of the licensed sports merchandise market in Asia Pacific. Other regions such as Middle East & Africa (MEA) and South America are expected to constitute new revenue generating areas for large licensed sports products dealers.
The report also provides company market share analysis of key players operating in the licensed sports merchandise industry. Some of the key players in this market include VF Corporation, Nike Inc., Fanatics, Inc., Adidas AG, Puma SE, G-III Apparel Group, Ltd., Sports Direct International plc., Hanesbrands Inc., and Under Armour, Inc.
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About the Authorsurendra choudhary
Joined: February 12th, 2019
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