Licensed Sports Merchandise Market Is Projected To Surpass US$ 59 Bn Through 2031, Following A CAGR Of 7%; States Fact.MR

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“Increasing popularity of commercial sporting events, owing to increasing adoption of cross-cultural fashion trends are expected to fuel the licensed sports merchandise market.”Comments are a Fact.MR analyst

/EIN News/ Dublin, Ireland, Aug. 19, 2020 (GLOBE NEWSWIRE). – The latest intelligence published by Fact.MR projects. sales of licensed sports merchandise Expectations are that the market will expand at a CAGR between 2021-2031 to reach US$ 59 Bn at the end of this forecast period. The increasing popularity of commercial sports activities in recent years is a major factor in the demand.

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Between 2016 and 2020, the market saw a positive trend with a CAGR of 6%. Sales fell significantly during the novel coronavirus epidemic. Major sporting events were either postponed or cancelled due to the global lockdown. However, restrictions have eased since Q4 2020 and vaccination drives to immunize populations picked up speed.

New and improved merchandise is being introduced to the market. Nike recently introduced jerseys that have tracker chips inside. These chips collect data like the distance a person has run, the activities they’ve done, and many other things. The data can be viewed on a smartphone, tablet or computer by athletes after the sport activity. This data can then be used to improve performance.

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The Market Study: Key Takeaways

  • Global market for licensed sporting merchandise to reach US$30 Bn by 2021-end
  • The CAGR for licensed sports shoes is 7.3%, based on product.
  • More than half of all global licensed sports merchandise sales are likely to be through offline stores
  • North America to emerge in the opportunistic markets, capturing 34.5% market share
  • Asia is the fastest growing market with a 7.6% CAGR reaching US$ 10.2 billion

Competitive Landscape

Prominent players are using innovative strategies such as ground-breaking marketing techniques, technological advancements, and mergers and acquisitions.

  • In August 2021, Adidas AG has agreed to sell its underperforming Reebok business to Authentic Brands Group Inc. for up to 2.1 billion euros ($2.5 billion), adding another well-known name to the buyer’s growing line-up of consumer companies.
  • Fanatics purchased licensed sports merchandise company WinCraft on December 20, 2020. Fanatics will now have a stronger presence with non-apparel merchandise since WinCraft specializes is hardgoods like clocks and banners sporting sports themes.

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Category-wise insights

Based on product, licensed sports footwear is likely to dominate the market, expanding at a CAGR of 7.3% annually throughout the forecast period. The changing fashion trends and aesthetics have led to the growth of the market. quality and styles of footwear have considerably evolved to provide maximum comfort to the consumers.

Among all these merchandise products is sports apparel  sports footwear are very popular. People love to idolize their favorite athletes and want to support them by buying their jerseys. Urban consumers around the world have grown to be quite fond of the merchandise footwear licensed by celebrities like LeBron James and Michael Jordan.

Key Segments Covered

  • Product

    • Sport Apparel Licensed
    • Sports footwear licensed
    • Toys and Accessories for Sports Licensed
    • Licensed Sports Video Games & Software
    • House and Domestic Sports Wear
    • Other licensed products for sports merchandise
  • Distribution Channel

    • Online Sales of Licensed Sports Merchandise
    • Offline Stores Selling Licensed Sports Merchandise
      • Department Stores Sell Licensed Sports Merchandise
      • Specialty Stores Licensed Sports Merchandise
    • Others

COVID-19 Scenario Analysis:

COVID-19 is expected to cause significant problems for brand manufacturers of nonessential products. Apparel is one the largest sectors that has seen maximum consumer spending on merchandisers. The COVID-19 pandemic is expected to have the greatest impact on this sector. Spending on nonessential items is no more a priority for people, as people’s main focus is on buying food and groceries for themselves. Manufacturers might offer their products at a reduced price or with substantial discounts to clear their stocks.

The Report has Key Benefits

  • This study provides an analytical analysis of the global licensed sports merchandise industry, along with current trends and future estimates to determine the likely investment pockets.
  • The report provides information on key drivers, restraints and opportunities, as well as detailed analysis of global licensed sports merchandise market share.
  • To highlight the potential growth of licensed sports merchandise, the current market is quantitatively analysed from 2020 to 2027.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report includes a detailed analysis of the global licensed sports merchandise market based on competition intensity and how it will shape in the coming years.

Questions Answered in the Licensed Sports Merchandise Report

  • What are the most prominent market players in the licensed market for sports merchandise?
  • What trends will impact the market over the next few years and why?
  • What are the market’s driving forces, constraints, and opportunities?
  • What future projections might help you take further strategic steps.

More insights available

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Fact.MR presents a new offering that provides an impartial analysis of the Licensed sports merchandise market. It includes historical demand data from 2016-2020 and forecast statistics for 2021-2031.

The market study provides essential insights based on product (sports attire, sports footwear, accessories and toys, video game or software, domestic or housewares, etc.) and distribution channel (ecommerce or offline stores and online stores) in seven regions (North America and Latin America, Europe and Asia, Europe, East Asia and South Asia, Oceania, Middle East & Africa, North America, Latin America, Europe and East Asia.

Explore Fact.MR’sCoverage for the Sports Domain-

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eSports Market – The eSports market size is set to surpass US$ 6,000 million by 2028-end on account of sizeable sponsorships, growing smartphone uses, introduction of virtual reality and ameliorating eSports infrastructure.

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Womens Swimwear Market – Demand for women’s swimwear has been increasing over time as more women are indulging in the outdoor activities such as swimming, watersports, and other related programs. Swimming is not only a vital life-saving skill but it also has many benefits for your health. The demand for swimwear, such as bikinis and one-piece swimsuits has increased over the past few years.

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