Dublin, Ireland, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Latest intelligence published by Fact.MR projects that sales of licensed sports merchandise will likely propel at a CAGR of 7% from 2021-2031, reaching US$ 59 Bn by the end of the aforementioned forecast period. Demand is principally dependent on the ever widening popularity of commercial sporting activities in recent years.
The market experienced a positive incline between 2016 and 2020, registering a CAGR of 6%. Sales contracted significantly during the novel coronavirus pandemic, as major sporting events either got postponed or cancelled, attributed to the imposition of a global lockdown. However, beginning since Q4 2020, restrictions have eased, as vaccination drives to inoculate populations picked up pace.
New and improved licensed merchandise are being introduced into the market. Recently, Nike introduced jerseys with tracker chips in them that collect data such as how many meters an athlete runs, what activities he/she has performed, and various other things. After the sporting activity, athletes can see the data on a smartphone, tablet, or computer and can use it to perform better going ahead.
For More Insights on this Market, Get A Sample Report!
https://www.factmr.com/connectus/sample?flag=S&rep_id=5800
Key Takeaways from the Market Study
- Global market for licensed sports merchandise to reach US$ 30 Bn by 2021-end
- By product, demand for licensed sports footwear likely to incline at a CAGR of 7.3%
- Over half of global licensed sports merchandise sales likely to be via offline stores
- North America to emerge as an opportunistic market, capturing 34.5% market share
- Asia to be the fastest growing market, registering a 7.6% CAGR to reach US$ 10.2 Bn
Competitive Landscape
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.
- In August 2021, Adidas AG has agreed to sell its underperforming Reebok business to Authentic Brands Group Inc. for up to 2.1 billion euros ($2.5 billion), adding another well-known name to the buyer’s growing line-up of consumer companies.
- In December, 2020, Fanatics had acquired licensed sports merchandise company WinCraft. Fanatics will now have a more significant presence with non-apparel merchandise, as WinCraft specializes in hardgoods, such as sports-themed clocks and banners.
To Gain In-Depth Insights on Licensed Sports Merchandise Market, Request Methodology at https://www.factmr.com/connectus/sample?flag=RM&rep_id=5800
Category-wise insights
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.
Key Segments Covered
- Product
- Licensed Sports Apparel
- Licensed Sports Footwear
- Licensed Sports Accessories and Toys
- Licensed Sports Video Games & Software
- Licensed Sports Domestic and House Wear
- Other Licensed Sports Merchandize Products
- Distribution Channel
- Online Licensed Sports Merchandise Sales
- Licensed Sports Merchandise Sales through Offline Stores
- Licensed Sports Merchandise Sales through Department Stores
- Licensed Sports Merchandise Sales through Specialty Stores
- Others
COVID-19 Scenario Analysis:
Brand manufacturers of nonessential products are expected to face a tough time due to COVID-19. Apparel is one of the biggest sectors that has always witnessed maximum consumer spending on merchandising. But this sector is expected to be affected maximum due to COVID-19 pandemic. Spending on nonessential items is no more a priority for people, as people’s main focus is on buying food and groceries for themselves. Manufacturers might sell their products at a low cost or with heavy discounts to clear their stocks.
Key Benefits of the Report:
- This study presents the analytical depiction of the global licensed sports merchandise market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global licensed sports merchandise market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the licensed sports merchandise market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global licensed sports merchandise market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Licensed Sports Merchandise Market Research Report:
- What are the leading market players active in the licensed sports merchandise market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Licensed Sports Merchandise market, presenting historical demand data (2016-2020) and forecast statistics from 2021 to 2031.
The study divulges essential insights on the market based on product (sports apparel, sports footwear, sports accessories and toys, video games or software, domestic and housewares and others) and distribution channel (e-commerce or online stores and offline stores) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
Explore Fact.MR's Coverage on the Sports Domain-
Sports Footwear Market - Evolution of athletic shoes technology has led to a significant transformation in the design, and functions of the sports footwear. Besides providing protection to the users during the athletic, fitness and sports activities, the sports footwear is equipped with enhanced technological features that boost the performance of the end users.
Golf Products Market - Rise in golf tourism, leveraging social media platform for spreading awareness about the sport, and provision of customer-friendly online reservation portals are key trends influencing sales of golf products across the globe.
eSports Market - The eSports market size is set to surpass US$ 6,000 million by 2028-end on account of sizeable sponsorships, growing smartphone uses, introduction of virtual reality and ameliorating eSports infrastructure.
Pilates Equipment Market - Increasing preference for customization is transforming the global fitness landscape wherein boutique studios are highly sought-after for their on-demand and personalized nature of workout plans. Growing emphasis on personalization has, in turn, led boutique studio players to offer services with higher experiential factor and smaller and focused workout sessions.
Womens Swimwear Market - Demand for women’s swimwear has been increasing over time as more women are indulging in the outdoor activities such as swimming, watersports, and other related programs. Apart from being a basic life-saving skill, the effectiveness of swimming for great health is undeniable. Demand for swimwear such as one-piece swimsuits, bikinis, and tank suits has seen a rise over the last few years.
Bicycle Market - Improvement in infrastructure across various countries along with customization of bicycles is positively influencing the demand for bicycles. Furthermore, cycling tournaments in Europe are creating lucrative business opportunities for bicycle manufacturers.
BASE Jumping Equipment Market - In 2022, worldwide sales of BASE jumping equipment will amount to a market valuation of US$ 228.9 million and are estimated to reach US$ 356 million by the end of 2032. The global BASE jumping equipment market is predicted to increase at a CAGR of 4.5% between 2022 and 2032.
Camping Equipment Market - Worldwide consumption of camping equipment currently stands at a value of US$ 16.4 billion and is estimated to race to US$ 33.17 billion by the end of 2032. This is because the global camping equipment market is projected to expand at a noteworthy CAGR of 7.3% between 2022 and 2032.
Bodyboard Market - It is challenging for new players to enter the bodyboard market as it takes a substantial amount of technological innovation and cost to set up a strong and reliable brand name. A significantly large investment is required to establish a production facility and distribution network to gain a sizeable market share.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
Email: sales@factmr.com
Tel: +1 (628) 251-158
