NEW
YORK, June 19, 2024 /PRNewswire/ -- The
global licensed sports merchandise market size is
estimated to grow by USD
7.78 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of
almost 4.64% during the forecast period. Design and
material innovations leading to product premiumization is
driving market growth, with a trend towards increasing
popularity of athleisure. However, increasing competition from
unorganized sectors poses a challenge. Key market players
include 47 Brand LLC, Adidas AG, ANTA Sports Products Ltd.,
Boardriders, Columbia Sportswear Co., DICKS Sporting Goods Inc.,
Fanatics Inc., Frasers Group plc, G III Apparel Group Ltd.,
Hanesbrands Inc., Li Ning Co. Ltd., New Era Cap LLC, Nike Inc.,
Prada Spa, PUMA SE, Ralph Lauren Corp., Rawlings Sporting Goods Co.
Inc., Thornico AS, Under Armour Inc., and VF Corp..
Get a detailed analysis on regions, market segments, customer
landscape, and companies- View the snapshot of this report
Licensed Sports
Merchandise Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
4.64%
|
Market growth
2024-2028
|
USD 7787.2
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.36
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
34%
|
Key
countries
|
US, China, Germany, UK,
and Japan
|
Key companies
profiled
|
47 Brand LLC, Adidas
AG, ANTA Sports Products Ltd., Boardriders, Columbia Sportswear
Co., DICKS Sporting Goods Inc., Fanatics Inc., Frasers Group plc, G
III Apparel Group Ltd., Hanesbrands Inc., Li Ning Co. Ltd., New Era
Cap LLC, Nike Inc., Prada Spa, PUMA SE, Ralph Lauren Corp.,
Rawlings Sporting Goods Co. Inc., Thornico AS, Under Armour Inc.,
and VF Corp.
|
Market Driver
The global licensed sports merchandise market is experiencing
significant growth due to the popularity of athleisure fashion.
Athleisure refers to clothing designed for athletic activities that
are suitable for workplaces and other locations. Major athleisure
outfits include yoga pants, leggings, gym tanks, sports bras,
tights, shorts, and sneakers. Consumer purchasing power and
changing preferences, influenced by celebrity endorsements, are
driving demand for these products. Innovations in design and
materials, such as moisture-wicking and stretchability, are
enhancing adoption rates. Major vendors, like Adidas AG, are
offering versatile shoes that cater to both athletic and casual
occasions. The rise of athleisure is expected to continue
supporting the growth of the global licensed sports merchandise
market.
The licensed sports merchandise market is thriving with various
brands and teams selling their official merchandise. Popular items
include jerseys, hats, balls, and other sports equipment. Brands
and teams use social media and promotional events to increase
sales. Fans are always on the lookout for the latest designs and
collections. Brands often collaborate with athletes to create
exclusive merchandise. Consumers can purchase these items online or
in-store. Brands also offer customization options for fans to
personalize their merchandise. The market is expected to grow as
the popularity of sports continues to rise. Sports merchandise is a
significant source of revenue for teams and leagues.
Research report provides comprehensive data on impact of trend.
For more details- Download a Sample Report
Market Challenges
- The global licensed sports merchandise market faces challenges
from the rise of local and unorganized vendors. These competitors
offer cost-effective products, leading to decreased revenue for
major vendors and occupied shelf space in supermarkets. The
market's fragmentation, with various local, regional, and
international players, may hinder growth. Low entry barriers
empower buyers, resulting in intense price competition that hinders
market expansion during the forecast period.
- The licensed sports merchandise market faces several challenges
in the current business landscape. Key areas of concern include the
high cost of licensing fees, the need to keep up with ongoing
trends in sports and fashion, and the increasing importance of
online sales channels. Additionally, marketers must navigate the
complexities of international markets and regulations, as well as
manage inventory and distribution logistics. Brands must also
invest in marketing and promotion efforts to build consumer
interest and loyalty. Competition from unlicensed merchandise and
counterfeit goods is another significant challenge. Overall, the
licensed sports merchandise industry requires strategic planning,
effective supply chain management, and a strong brand identity to
succeed.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This licensed sports merchandise market report extensively
covers market segmentation by
- Distribution Channel
- End-user
- 2.1 Men
- 2.2 Women
- 2.3 Children
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Offline- The licensed sports merchandise
market encompasses sales through various offline channels,
including specialty stores, hypermarkets, supermarkets, and
department stores. Specialty stores offer a wide range of sports
merchandise, while hypermarkets and supermarkets provide
competitive pricing and convenience. Department stores serve as
one-stop solutions for customers. Vendors expand their offline
presence to boost sales and cater to diverse customer categories.
Innovative marketing strategies sustain the growth of the offline
segment despite increasing online shopping preference.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The licensed sports merchandise market caters to sports
enthusiasts seeking authentic apparel and accessories from their
favorite professional sports leagues. Urbanization and the shift
towards online retailing have significantly impacted this industry.
Traditional retailing channels have been surpassed by online
platforms, offering convenience and ease of access. T-shirts, tops,
sweatshirts, hoodies, jackets, caps, and athletic footwear are
popular categories in this market. Material quality is a crucial
factor, ensuring high-quality goods align with the brands'
alliances. Sedentary lives and health issues, including muscular
injuries and hip discomfort, have increased the demand for
comfortable and durable merchandise. Smart phones and internet
usage facilitate online marketplaces, making high-quality sports
merchandise accessible to fans worldwide.
Market Research Overview
The Licensed Sports Merchandise Market encompasses a wide range
of products, including clothing, accessories, and collectibles,
that bear the logos, names, or likenesses of various sports teams
and athletes. This market caters to fans who seek to express their
loyalty and support for their favorite teams and players. The
market is driven by several factors, such as increasing fan
engagement, growing global sports fandom, and advancements in
technology that enable more innovative and personalized merchandise
offerings. The market is segmented based on product type,
distribution channel, and region. The product type includes
apparel, accessories, collectibles, and other merchandise. The
distribution channel includes retail stores, online platforms, and
direct-to-consumer sales. The market is global in nature, with
significant demand coming from regions such as North America, Europe, and Asia
Pacific.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- End-user
-
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/licensed-sports-merchandise-market-size-is-set-to-grow-by-usd-7-78-billion-from-2024-2028--design-and-material-innovations-leading-to-product-premiumization-boost-the-market-technavio-302176409.html
SOURCE Technavio