Licensed Sports Merchandise Market Expected to Reach US$ 46,881.6 Mn by 2026
Licensed sports merchandise products are widely accepted by consumers due to the rising adoption of apparel and footwear by consumers over the years. The licensed sports merchandise market report would help licensed sports goods manufacturers, suppliers, and distributers to estimate and analyze the demand for such products across different regions. Under the scope of the report, based on 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 among others. Others licensed sports merchandise type includes souvenirs, gifts or novelties, consumer electronics, and food and beverages. Increasing popularity of sporting leagues and their increasing fan base is creating a positive impact on the demand for licensed sports products across all age groups.
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Based on distribution channel type, the licensed sports merchandise market is further 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, discount stores etc. Among all these distribution channel type for licensed sports goods, the offline stores sector is the ideal choice for sports lovers who are looking for licensed sports goods.
Geographically, the licensed sports merchandise market is bifurcated into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America. Regionally, North America accounted for the largest market share in 2017 and is anticipated to grow steadily due to increasing popularity of sporting leagues and their increasing fan base. 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 licensed sports goods in this emerging economy. It is anticipated to be the most swiftly developing region due to increasing demand for licensed sporting goods in the developing economies of China and India. Large multinational companies invest significantly in marketing and product distribution. These companies adopt extensive marketing and branding strategies to improve their market presence and thus strengthen their consumer base.
Sports apparel constituted majority share in terms of revenue in the North America licensed sports merchandise market in 2017 and this trend is expected to continue during the forecast period. Europe held the second largest market share in 2017. Sports brands are targeting female customers due to the increasing popularity of female sports. Furthermore, expansion of distribution channels is one of the major factors driving the licensed sports merchandise market in the region. Manufacturers are focusing on creating wider distribution channels in order to cope with rising competition and increasing consumer demand for licensed sports goods across Europe. In terms of revenue, Asia Pacific is expected to be the fastest growing regional market for licensed sports goods. This region is expected to witness highest growth on account of high population density, changing standard of living, and rising disposable income in the developing economies of China and India.
Emerging economies of South America and Middle East & Africa (MEA) are expected to take the lead in the adoption of different types of licensed sports goods over the forecast period from 2018 to 2026. Factors such as economic stability and high purchasing power are mainly responsible for the growth of the licensed sports merchandise market in South America and the Middle East. In addition, increase in number of sportswear brands and rising number of retail specialists coupled with opening of new shopping malls, particularly across GCC countries in 2017 is propelling market growth in this region.
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Some of the key players in the licensed sports merchandise market include VF Corporation, Nike Inc., Fanatics, Inc., Adidas AG, Puma SE, G-III Apparel Group, Ltd., Sports Direct International plc, Hanesbrands Inc., Under Armour, Inc. and DICK’S Sporting Goods Inc.
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