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The licensed sports merchandise market size is forecast to increase by USD 7.79 billion at a CAGR of 4.64% between 2023 and 2028. Continuous design and material innovations drive product premiumization and demand for sports apparel, influenced by celebrity endorsements. Increasing fitness awareness further boosts market growth, although environmental concerns and regulatory challenges regarding materials procurement pose significant obstacles to industry players.The licensed sports merchandise market includes a wide range of products such as bats, balls, cricket equipment, team sports equipment, and golf equipment. Sporting goods stores play a crucial role in distributing licensed sports products, including sports apparel. Insights into the market highlight trends in product innovation and consumer preferences.
The licensed sports merchandise market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in USD Billion for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The offline segment is estimated to witness significant growth during the forecast period. The revenue of the offline distribution channel comes from the sales of products through specialty stores such as hypermarkets, supermarkets, convenience stores, clubhouse stores, and department stores. In line with the increase in Internet shopping preference, this segment's revenue has been decreasing gradually over the years.
The offline segment was the largest segment and was valued at USD 19.84 billion in 2018. Companies are expanding their stores in local and regional markets to sell the fuel through offline channels. Sports merchandise manufacturers sell their products through a variety of outlets, such as specialty stores and other retail formats. Competition in the market is also strengthened by this scenario. To survive in such a competitive market and to tackle the declining preference for offline shopping, retailers are introducing new business and retail strategies, such as better pricing strategies and a wide range of products, including basketball apparel.
North America is estimated to contribute 34% during the forecast period.
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North America dominated the global market in 2023 due to factors such as the presence of a well-developed sports industry and the high prevalence of obesity and diabetes, which encourages many people to take part in sports activities to remain fit and healthy. The increasing participation of people in sports activities will play a major role in driving the growth of the market in the region during the forecast period. The increasing use of online shopping platforms for buying sporting goods are key factors that contribute to market growth in the US, such as footwear, apparel, smart sports equipment, and accessories, and the rising awareness and adoption of eco-friendly raw materials to manufacture sports merchandise. Also, the growing demand for customized sports products is fueling the growth of the market in North America during the forecast period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the licensed sports merchandise market's trajectory throughout the forecast period.
The licensed sports merchandise market encompasses diverse products like bats, balls, exercise and team sports equipment, along with golf gear, distributed primarily through sporting goods stores. These products also include popular sports apparel, reflecting ongoing consumer preferences and trends in athleisure. Continuous innovation in product design and materials enhances the appeal and quality of licensed sports merchandise.
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
ANTA Sports Products Ltd. - The company offers Always Original t-shirts, laced tank tops, leggings, tights, joggers, and hoodies.
The licensed sports merchandise market forecast report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
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.
Qualitative and quantitative analysis of market growth and trends of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, market growth and forecasting it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The licensed sports merchandise market caters to the demands of sports enthusiasts, offering a wide range of products including T-shirts, tops, sweatshirts, hoodies, jackets, bottom wear, caps, and athletic footwear. With urbanization and the increasing popularity of professional sports leagues, brand alliances have become a significant trend in retailing. Online platforms have disrupted traditional retailing channels, enabling consumers to purchase high-quality goods such as sports merchandise from the comfort of their homes. The online marketplaces provide easy access to a vast selection of merchandise, including material quality T-shirts, tops, sweatshirts, hoodies, and jackets.
Sedentary lives and health issues, including muscular injuries and hip discomfort, have led to an increased focus on product quality. Consumers are increasingly using smartphones and the internet to research and purchase merchandise, making it essential for retailers to maintain a strong online presence. Licensed sports merchandise is not just a fashion statement but a symbol of team spirit and loyalty for sports fans. The market for these goods is expected to grow as more consumers turn to online platforms for convenience and access to a wider range of products. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The high influence of celebrity endorsements on customer purchase decisions is driving growth in the market. Over the past two decades, a growing number of millennials who demand premium sports products, global licensed sporting goods markets have evolved and developed. Endorsements and the use of lifestyle and fashion products, such as sports and fitness wear, premium footwear, by celebrities, have an impact on the purchase decisions of customers. The brands and products endorsed by popular athletes have remarkable brand value, which increases their sales.
Moreover, the manufacturers adopt different marketing campaigns and strategies to expand their customer base. In order to establish the supplier's brand image and increase the sales of sports merchandise, retailers use celebrities as a popular marketing tool. Companies regularly enter into endorsement contracts with prominent celebrities for more than a year, in order to increase their brand value. These marketing initiatives increase the demand for premium sports merchandise, driving licensed sports merchandise market growth during the forecast period.
The expansion of the distribution network is a vital trend in the market. Players are following different strategies for the expansion of their distribution networks both online and offline to increase their customer base. They invest in opening new stores and remodeling the existing ones. The increasing number of offline stores and online channels will accelerate revenue generation.
However, the growth of the global market is expected to be significantly driven by increasing internet penetration and increased customer trust in online sales, as well as rapid shipping services and a growing fragmentation of customers' choices. The increasing number of offline stores and online channels will accelerate suppliers' revenue generation during the forecast period. In short, the expansion of distribution networks is expected to support licensed sports merchandise market growth during the forecast period.
The increasing competition from unorganized sectors is a major challenge in a market. The growth of the worldwide licensing market for sports goods is hindered by an increased number of local and unorganized players. Local and unorganized companies have become popular due to their competitive pricing. Cost-effective products offered by these companies have hampered the revenue generation of major companies. The sports brands' shelf space at supermarkets is also being occupied by local companies. Owing to the lack of brand loyalty, customers switch from one brand to another.
In addition, the bargaining power of the buyer increases because of the lower entry barriers for prospective players. Market companies range from multinational companies that offer an array of products on a global scale to small and medium-sized unorganized entities that focus on a single product line. Currently, intense price competition from local and unorganized companies is a major challenge that hinders licensed sports merchandise market growth during the forecast period.
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The licensed sports merchandise market is a significant sector in the global consumer goods industry. This market caters to the demand for authentic and officially authorized sports merchandise, including activewear apparel, accessories, and collectibles. The market is driven by several factors, such as an increasing fan base, the growing popularity of sports, and the trend of collectibles. Sports teams and leagues license their brand to manufacturers and retailers to produce and sell merchandise. These licenses can range from apparel and accessories to collectibles and memorabilia. The market is diverse and caters to fans of various sports, including football, basketball, baseball, cricket, and soccer. The market is a global one, with significant demand coming from regions such as North America, Europe, and Asia Pacific.
The market is expected to grow in the coming years, driven by increasing fan engagement and the trend of collectibles. Manufacturers and retailers in the market focus on innovation and design to create unique and attractive merchandise that appeals to fans. They also prioritize quality and authenticity to ensure that their products meet the high standards of sports teams and leagues. In conclusion, the licensed sports merchandise market is a dynamic and growing sector in the consumer goods industry. It caters to the demand for authentic and officially authorized sports merchandise and is driven by several factors, including an increasing fan base, the growing popularity of sports, and the trend of collectibles. Investments in sports licensing have surged with increased internet usage, further expanding market reach and consumer engagement. Sporting goods stores play a pivotal role in retailing these items, catering to a growing market influenced by celebrity endorsements and increasing fitness awareness. However, environmental concerns and regulatory challenges in material sourcing pose significant hurdles for market players aiming to maintain sustainability and quality standards.
The global licensed sports merchandise market is significantly influenced by the online retail industry, offering a wide range of products including t-shirts and tops, sweatshirts and hoodies, hats, toys, and accessories for sports. Consumer spending power drives demand for branded goods featuring trademarked logos and designs. Sports licensing extends to outdoor activities, sports clubs, gyms, and fitness studios. The market also includes entertainment, digital content like video games and physical display products such as mugs and cups. Sports gear, sports accessories, breathable, light, waterproof clothes, and sports footwear including running shoes, football shoes, sneakers, and lifestyle shoes, are popular. Sedentary lifestyles contribute to health problems like muscle injuries, leg injuries, knee pain, hip pain, and back pain. Mass merchants capitalize on these trends by highlighting product features during athletic events, contests, and tournaments, catering to both traditional sports and e-sports enthusiasts.
Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.64% |
Market growth 2024-2028 |
USD 7.78 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.36 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 34% |
Key consumer countries |
US, China, Germany, UK, and Japan |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope, Licensed Sports Merchandise Market Industry Report |
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 dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period, licensed sports merchandise market growth analysis |
Customization purview |
If our licensed sports merchandise market forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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