The global licensed sports merchandise industry is projected to grow at the significant rate in the near future as many licensed sports merchandisers are acquiring a license to sell sports merchandise that incorporates copyrighted material is similar to other licensing arrangements. The market of licensed sports merchandise is highly dominated by few key players as the agreement used in merchandise licensing is usually more complex.
The global licensed sports merchandise market is expected to register a CAGR of 5.3% during the forecast period, 2018 to 2023, according to Licensed Sports Merchandise Market Report.
Licensed Sports Merchandise Market Major key players are G-Iii Apparel Group, Fanatics Inc., Adidas Ag, Nike Inc., Under Armour, Anta Sports Products Limited, Puma Se, Columbia Sportswear, Everlast Worldwide, Inc., Hanesbrands Inc., Newell Brands Inc., and Ralph Lauren.
Increasing Sports League activities Driving the Licensed Sports Merchandise Market growth
Growing popularity of outdoor sports like football, cricket, and basketball is attracting teenagers to spend more on licensed sports merchandise. Increasing sports league activities across globe is also creating new opportunity for key players to capture the market. For example, The La Liga and its franchisees are following the other global sporting events for building the brand value to increasing their revenue collections through merchandising. Licensed sports merchandise market is also driven by growing innovation and development activities to produce more attractive and stylish sports apparel and sports accessories. The market is also significantly influenced by the improved economic conditions across developing countries such as China and India, due to which, sports fans are spending more on licensed sports merchandise.
Licensed Sports Apparel will witness significant growth rate
On the basis of product type, the licensed sports merchandise market is led by the apparel segment as popularity of licensed sports apparel and footwear among athletes and teenagers are growing across the globe. Increased in adoration of leagues, their teams such as Real Madrid and Barcelona, and favorite players across various age groups is also driving the market growth of licensed sport apparel and footwear. Innovation in merchandise accessories and gift is playing key role in the growth of licensed sports merchandise market across globe. Improving distribution network of leading players will boost the sales of toys and games merchandise products. Increase in sport sponsorships are likely to fuel the market for other licensed sports merchandise in upcoming years; Adidas has sponsored football teams including Spain, Argentina and Germany in world cup 2018.
Europe will witness increase in demand for Licensed Sports Footwear
Globally, North America holds significant market share followed by Europe region over the forecast period due to growth in sports apparel and footwear industry in the region. In North America, the United States is the leading producers of licensed sports merchandise as most of the key players are located in the country. In Asia-Pacific region, apparel and footwear segment will witness significant growth due to increased purchasing power and outdoor activities. E-commerce will witness significant growth in Europe region due to high internet penetration in the region.