SAN FRANCISCO, Feb. 22, 2022 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Licensed Sports Merchandise – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 9; Released: February 2022
Executive Pool: 2633
Companies: 62 – Players covered include eBay Inc.; Everlast Worldwide, Inc.; Knights Apparel, Inc.; Li Ning Company Limited; Newell Brands; Nike, Inc.; Prada SpA; PUMA SE; Quick Silver, Inc.; Ralph Lauren Corporation; Sports Direct International PLC; VF Corporation and Others.
Coverage: All major geographies and key segments
Segments: Product (Apparel & Footwear, Toys & Games, Accessories & Gifts, Other Products); Price Range (Economic, Premium); Distribution Channel (Store Based, Non-Store Based)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Licensed Sports Merchandise Market to Reach US$27.2 Billion by the Year 2026
Licensed sports merchandise includes different products endorsed by a sports club or sportsperson, and products such as sports apparel, gear, games, accessories, and footwear for women, children, and men are available in a range of variants, sizes, and colors. The licensing companies pay some royalty to sports entities for merchandise sold with copyrighted designs, logos, and various brandings, which minimizes violation of players’ and teams’ trademarks and assists in restraining the manufacturing the sports-related counterfeit products. Effective sports marketing implementation assists in attaining organizations’ and sports clubs’ financial success. Sports tournaments and events commercialization have stimulated growth in the sports merchandise market. The state and government authorities are investing extensively in sports merchandise due to the government authorities’ desire to promote sports events. The expansion of sports to different regions and growing media coverage for different sports has propelled the market growth of sports merchandise. The launch of several sporting leagues and growing fan participation caused the sports sector to be the powerhouse of countless opportunities and untapped avenues. Endurance sports, too, paved a powerful platform for sports enthusiasts to grip a variety of sports goods, thus accelerating the market growth of licensed sports merchandise. Organized marketing and retailing together with key vendors’ effective branding is anticipated to offer additional opportunities for sports merchandise.
Amid the COVID-19 crisis, the global market for Licensed Sports Merchandise estimated at US$23.3 Billion in the year 2022, is projected to reach a revised size of US$27.2 Billion by 2026, growing at a CAGR of 3.4% over the analysis period. Apparel & Footwear, one of the segments analyzed in the report, is projected to grow at a 4% CAGR to reach US$10.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Toys & Games segment is readjusted to a revised 3% CAGR for the next 7-year period. This segment currently accounts for a 22.2% share of the global Licensed Sports Merchandise market. Sports apparel & footwear represents the leading segment, driven by the huge population’s growing inclination towards routine and fitness workouts. Merchandise footwear licensed by celebrities such as LeBron James and Michael Jordan have gained increased popularity among urban consumers worldwide. The sports toys & accessories segment is anticipated to grow rapidly due to the advancements in technology like 3D printing in a range of sports accessories improved the product appearance causing an increased the 3D printed licensed demand for sports balls, keychains, team flags, and celebrity figures.
The U.S. Market is Estimated at $5.5 Billion in 2022, While China is Forecast to Reach $4.1 Billion by 2026
The Licensed Sports Merchandise market in the U.S. is estimated at US$5.5 Billion in the year 2022. The country currently accounts for a 23.7% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$4.1 Billion in the year 2026 trailing a CAGR of 4.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR while Rest of European market (as defined in the study) will reach US$1.4 Billion by the end of the analysis period. North America represents the leading regional market for licensed sports merchandise, mainly due to the high popularity of top sports like soccer, basketball and baseball specifically among college and university level students. Also benefiting market growth is the active lifestyles being pursued by people and the growing adoption of health and fitness activities, which is fueling growth in demand for sports goods and licensed sports merchandise. Asia-Pacific is anticipated to be the rapidly growing licensed sports merchandised market, due to the growing popularity of different international sports among teenagers and increased adoption of fashion trends of cross-culture are anticipated to boost the market growth of licensed sports merchandise in the Asia-Pacific region.
Accessories & Gifts Segment to Reach $5 Billion by 2026
In the global Accessories & Gifts segment, USA, Canada, Japan, China and Europe will drive the 3.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.8 Billion will reach a projected size of US$3.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$810.4 Million by the year 2026, while Latin America will expand at a 3.7% CAGR through the analysis period. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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SOURCE Global Industry Analysts, Inc.