Analysis of Licensed Sports Merchandise market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global licensed sports merchandise market estimated a value of US$ 30 Bn in 2020. Backed by the mushrooming popularity of FIFA football world cup and T-20 World cup, the sports apparels like cricket kits, jerseys, caps, shoes etc. Over the forecast period, the market worth for licensed sports merchandise is projected to surpass US$ 59 Bn through 2031, following a CAGR of 7%.
|Market Size (2021)||US$ 30 Bn|
|Projected Value (2031)||US$ 59 Bn|
|Value CAGR (2021-2031)||7%|
|Market Share of North America||34.5%|
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Over the past half decade, the global licensed sports merchandise market has touched new heights with the new developments in material quality and latest fashion trends, forecasts to expand at a CAGR of close to 7% over the forecast period of 2021 to 2031. During the historical period, the market grew at a CAGR of 6%
The market is dominated by professional sporting leagues across the globe. With organized and improved marketing and retailing along with brand tie-ups with major vendors, it is expected to surpass US$ 59 Bn mark by the end of 2031. Online distribution of licensed sports merchandise plays a significant role in driving the market over the futuristic outlook.
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Commercialization of sports events and tournaments has created a stir across the global sports merchandise market. Products such as jerseys, socks, tracksuits, t-shirts, lowers and activewear, which are printed with the logos of major sports teams, have gained immense traction among consumers who prefer fashionable casual and gym wear. Other factors, including rising expenditure capacities of the consumers, along with increasing investments in sports licensing across the globe, are projected to drive the market further
Increasing popularity of countless global sports among the teenagers owing to increasing adoption of cross-cultural fashion trends are expected to fuel the licensed sports merchandise market in the region during the forecast period. Moreover, the demand is also influenced by latest fashion trend. Fashion is very important in the sports sector. An example of this is the recent admission by Levi’s that denim clothing sales have fallen because of the growing popularity of fashionable sports clothing.
A significant number of consumers purchase sports items for leisure purposes only. For instance, in the running footwear category, one out of every five pairs of shoes is purchased exclusively for leisure purposes, according to NPD’s Online Consumer Data, it’s not unusual to see people wearing running shoes with technically advanced features to work or when socialising at weekends.
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Developing newer fabrics with superior properties coupled with apparels with increased functionality would present significant market opportunities to the industry participants. Moving ahead, In October 2021, Nike has opened a new sport research lab naming it as Lebron James innovation centre with advanced product creation, testing facilities and more.
In addition to dramatically reducing its carbon footprint, shifting from SF6 to nitrogen encouraged Nike engineers and designers to imagine new shapes and sensations of Air. This fuelled a major leap in designs, the Air Max 360, for example, was Nike’s first sneaker to cushion the entire sole with a bed of air that sparked the excitement for Nike Air that remains strong today.
There are significant opportunities in the sporting goods, hobby and leisure spaces. Personal computer and console games revenue is predicted to increase substantially worldwide before 2022. Global public interest in sports has also increased, and consumers are increasingly buying sporting goods and toys online. In the U.S., e-commerce revenue for toys and hobbies is predicted to increase in 2019; similar expansions are also forecasted in Europe in countries like Germany.
Presently, China being the world's second largest economy, is forecast to reach US$ 10.2 Bn, trailing a CAGR of 7.6% over the analysis period 2021 to 2031. Currently, China will remain among the fastest growing in this cluster of regional markets. Moreover, the mounting popularity of sports like cricket, hockey has fuelled the market growth in recent years. Along with this China's sports goods market is growing quickly.
In September, 2020 China Sport Show was organized at the National Convention and Exhibition Center (Shanghai). These type of events fuels the market and stimulate sales of sports accessories such as helmets, pads, bats, and balls are in huge demand in the countries like India and China. Online sports such as EA FIFA is also very popular in Asia Pacific.
In China and Japan, sports such as table tennis and badminton are very popular, and licensed sports merchandise for these sports are in huge demand across these countries. In recent years, other sports such as basketball and baseball are also becoming very popular in the region, thereby giving a further boost to the sales of licensed sports merchandise.
In 2021, North America accounts for nearly 34.5% market share, expanding at a CAGR of 6.7%. The regional market is likely to be dominated by United States as it has 3 of the top 5 sporting leagues in the world. The licensed sports merchandise market in the U.S. was estimated at US$ 9.3 Bn in the year 2020.
Innovating newer fabrics with superior properties coupled with apparels with increased functionality would present significant market opportunities to the industry participants. Moreover, popularity of major sports leagues such as NFL (National Football League), NBA (National Basketball Association), and MLB (Major League Baseball), with each league having followers in millions exhibits immense growth potential.
In the country, people are very passionate about sports, and they spend a lot on buying the licensed sports merchandise of their favourite teams and players. People are also very cautious about their health, and they indulge in many activities and sports to stay fit. They also buy licensed sports merchandise such as gym equipment and other items to achieve their fitness goals.
Based on product, licensed sports footwear is likely to dominate the market, expanding at a CAGR of 7.3% annually throughout the forecast period. Owing to the changing aesthetics and fashion trends, the quality and styles of footwear have considerably evolved to provide maximum comfort to the consumers.
Among all these merchandise products, sports apparel and sports footwear are very popular. People admire and idealize their favourite sportspersons and want to buy their jerseys and support them. Merchandise footwear sold being licensed by famous celebrities such as Michael Jordan and LeBron James have gained reasonable popularity among urban consumers across the globe.
Licensed sports merchandise is available through these platforms - online websites, department stores, specialty stores, and other platforms. Although online marketing has beaten physical shopping experience in most consumer goods segments, consumers still prefer to be physically present while buying footwear. A market share of 55% is anticipated for offline stores.
This has further led to the proliferation of organized retail outlets and has improved customer-manufacturer interaction. Simultaneously, with globalization and rise of the Internet, online shopping has become a huge part of licensed sports merchandise. For licensed sports merchandise, consumers can directly shop on manufacturers’ websites or on third-party websites such as Amazon, Walmart, and others.
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions to expand their market ground.
|Historical Data Available for||2016-2020|
|Market Analysis||US$ Bn for Value & Units for Volume|
|Key Regions Covered||
|Key Countries Covered||
|Key Companies Profiled||
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By 2021, the market for licensed sports merchandise will reach US$ 30 Bn
From 2021-2031, licensed sports merchandise sales will likely augment at a CAGR of 7%
According to Fact.MR, licensed sports merchandise revenue is likely to total US$ 59 Bn by 2031
From 2016-2020, licensed sports merchandise sales expanded at a CAGR of 6%
Growing popularity of commercial sporting events is primarily driving demand for licensed sports merchandise
North America is likely to account for 34.5% market share in the global licensed sports merchandise market
Asia is expected to be the fastest growing market, clocking a CAGR of 7.6% until 2031
Licensed sports footwear is generating ample investment opportunities, experiencing a CAGR of 7.3% from 2021-2031
Offline distribution channels are most preferred, expected to yield 55% of licensed sports merchandise sales
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