New York, US, May 03, 2022 (GLOBE NEWSWIRE) -- Licensed Sports Merchandise Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Licensed Sports Merchandise Market Information by Product Type, Price Range, Distribution Channel, and Region - Forecast till 2030”, the market is projected to expand at a 6.45% CAGR during the forecast period of 2020 to 2030.
Market Scope
Items licensed with team players, logos, names of different sports organizations, and symbols are among the licensed sports merchandise. Many sports organizations, sports superstars, or sports teams hold these artifacts and license the rights to use them in exchange for a royalty. As a result of the growing tendency of youth towards outdoor sports like baseball, cricket, and football, and the increasing popularity of sports leagues among the people of various nations, the Market size is pushing its rise over the research period.
Competitive Landscape
According to the Licensed Sports Merchandise Market analysis, there are many major market players in the global market who are working to build the market. These prominent market players are:
- Quiksilver, Inc. (US)
- Puma SE (Germany)
- Li Ning (China)
- Fanatics, Inc. (US)
- Adidas AG (Germany)
- Sports Direct International plc (UK)
- G-III Apparel Group (US)
- Knights Apparel, Inc. (US)
- Ralph Lauren Corporation (US)
- Nike, Inc. (US)
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Market Dynamics
Market Drivers
Due to the increasing tendency of the young population towards items like as phone cases, mugs, helmets, balls, key chains, and wallets in support of their supporting team, the licensed sports merchandise market is predicted to develop in the forecast future. Furthermore, the growing popularity of various national and international leagues among the young population would boost the worldwide market growth.
Because the majority of the world's population places a high value on sports, customers are becoming more aware of licensed sports items. And, as a result, the sports organization has the option of using advanced kinds of advertising rather than traditional types of advertising to reach out to outside sports fans. Because of the quality of the relationship between a sports team and its fans, a consumer's purchasing intent is likely to increase.
In the current environment, the Licensed Sports Merchandise sector benefits from massive global marketing initiatives. The increasing e-commerce business plays the most crucial role in the expansion of the Licensed Sports Merchandise Market. Consumers like online shopping because it allows them to select their favorite products with more quality and convenience at a lower cost.
Market Restraints
One of the biggest barriers to the expansion of the licensed sports merchandise market could be the availability of counterfeit products in many regions of the world. Furthermore, the market's expansion in the predicted term may be hampered by increased goods prices. The expansion of the licensed sports merchandise market is projected to be hampered by the coronavirus outbreak, which has hampered investment and disrupted the supply chain. Furthermore, one of the biggest hurdles for the industry during the research era might be the government's strict laws governing licensed sports products.
Browse In-depth Market Research Report (90 Pages) on Licensed Sports Merchandise: https://www.marketresearchfuture.com/reports/licensed-sports-merchandise-market-7068
COVID-19 Analysis
The non-essential product's brand producers are expecting a difficult time as a result of the Covid-19 epidemic. Among them, one of the most important merchandising categories is clothes, which has always been a consumer priority. However, the unprecedented global pandemic is expected to have a significant influence on the Licensed Sports Merchandise Market. During the epidemic, people's focus switched from non-essential products to necessities such as groceries and nourishment.
Manufacturers and market players, on the other hand, have used significant discounts and low-cost pricing to sell it. In the current context, for example, the market is picking up speed by implementing new ideas and methods.
Segmentation
The current global market for licensed sports merchandise has been classified by price range, product type, region, and distribution channel, according to the Licensed Sports Merchandise Market research.
Based on the price range, the market has been divided into two categories: economical and premium. This two-price range segment is based on the product's usefulness and quality.
The licensed sports merchandise market has been segmented into sports footwear, sports apparel, videogames, sports accessories & toys, and others based on product type. Among all product kinds, sports accessories and apparel are expected to gain a larger market share during the study period.
In terms of distribution channel segmentation, the market is divided into non-store-based and store-based. Specialty stores, hypermarkets and supermarkets, and others are divided under the store-based division.
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Regional Overview
Due to the strong spending power of consumers and high living standards in the region, the Licensed Sports Merchandise Market of North America is expected to dominate the worldwide market throughout the study period. Furthermore, because to the great popularity of sports leagues such as the National Hockey League (NHL), National Basketball Association (NBA), Canadian Football League (CFL), and National Football League (NFL) in the region, the market size is likely to grow.
Aside from that, the Asia-Pacific regional market is expected to grow at the fastest rate over the assessment period, owing to the Asian Pacific population's growing interest in sports such as cricket and football. In addition, the popularity of sports licensed accessories such as sunshades, seat covers, cushions, phone cases, game cards, wallets, mugs, and keychains in developing Asia Pacific nations such as India, Japan, and China is expected to drive market growth. In addition, the Juventus Football Club of Asia Pacific put out-licensed products such as automobile accessories, apparel, luggage, and electronics in countries such as China, Japan, and Australia to demonstrate its presence in the region.
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