DUBLIN, Jan. 14, 2022 /PRNewswire/ — The “Licensed Sports Merchandise – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com‘s offering.
Global Licensed Sports Merchandise Market to Reach US$27.2 Billion by the Year 2026
Global market for Licensed Sports Merchandise estimated at US$22.3 Billion in the year 2020, 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.
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.
Over the past years, rise in sports participation due to rising awareness regarding health, whereby there is increase in physical activity, is fueling demand for licensed sports brands. 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.
The U.S. Market is Estimated at $5.4 Billion in 2021, While China is Forecast to Reach $4.1 Billion by 2026
The Licensed Sports Merchandise market in the U.S. is estimated at US$5.4 Billion in the year 2021. 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