IMARC Group's report titled "Licensed Sports Merchandise Market Report by Product Type (Apparel and Footwear, Accessories and Gifts, Toys and Games, and Others), Distribution Channel (Online Stores, Supermarkets and Hypermarkets, Departmental Stores, Specialty Stores, and Others), Price Range (Premium, Economic), End-User (Men, Women, Children), and Region 2024-2032". The global licensed sports merchandise market size reached US$ 32.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 44.1 Billion by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032.
Factors Affecting the Growth of the Licensed Sports Merchandise Industry:
- Increasing Sports Events and Leagues Popularity:
The global expansion of sports events, leagues, and tournaments is escalating the demand for licensed merchandise. Each major sports event, such as the FIFA World Cup, Olympics, or Super Bowl, acts as a catalyst for merchandise sales, with fans eager to purchase apparel, accessories, and memorabilia that signify their support and passion. These events are popular in their host countries and draw attention from a global audience, thereby broadening the market reach of their licensed products. Moreover, regional leagues and annual sporting tournaments contribute to a consistent demand throughout the year, sustaining the sports merchandising industry. As these events grow in number and scale, they create a robust ecosystem for the sale of licensed goods, reinforcing brand connections with fans and leveraging fan loyalty to generate substantial revenue.
- Increasing Celebrity Endorsements:
Celebrity endorsements are driving the sales of sports merchandise by shaping consumer preferences and boosting credibility. When athletes and celebrities endorse these products, they lend their popularity and trust to the brand, influencing fans who admire and emulate them. This marketing strategy is particularly effective in the sports industry, where the emotional connection between fans and their favorite sports stars is strong. Moreover, products endorsed by celebrities often see a spike in sales as fans rush to align themselves with the prestige and performance associated with their idols. The impact of such endorsements extends beyond immediate sales, as they also enhance brand visibility and appeal across various media platforms, further invigorating the sports merchandise market.
- Rise of Sports Tourism:
Sports tourism is growing, characterized by fans traveling specifically to attend sporting events or visit famous sports venues. This trend provides a substantial opportunity for the sale of licensed merchandise. Fans often purchase these items as souvenirs to commemorate their experiences, making sports events such as the FIFA World Cup or the Olympics athletic competitions and significant retail opportunities. Besides this, the emotional value attached to these souvenirs enhances their appeal, turning ordinary merchandise into cherished keepsakes. Moreover, as global travel becomes more accessible and the profile of sporting events continues to rise, sports tourism is expected to grow, further driving the demand for licensed sports merchandise and enriching the overall fan experience.
Leading Companies Operating in the Global Licensed Sports Merchandise Industry:
- Adidas AG
- Columbia Sportswear
- Dick's Sporting Goods Inc.
- Fanatics Inc.
- G-III Apparel Group Ltd.
- Hanesbrands Inc.
- Nike Inc.
- Prada
- Puma SE
- Sports Direct International Plc
- Under Armour Inc.
- VF Corporation
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/licensed-sports-merchandise-market/requestsample
Licensed Sports Merchandise Market Report Segmentation:
By Product Type:
- Apparel and Footwear
- Accessories and Gifts
- Toys and Games
- Others
Apparel and footwear hold the largest market share owing to their broad appeal and functionality for showcasing team allegiance.
By Distribution Channel:
- Online Stores
- Supermarkets and Hypermarkets
- Departmental Stores
- Specialty Stores
- Others
Specialty stores dominate the distribution channel as they offer a curated selection and personalized shopping experience for sports fans.
Price Range:
- Premium
- Economic
Premium price ranges account for the largest market share, as they cater to enthusiasts seeking high-quality, exclusive products.
By End User:
- Men
- Women
- Children
Men represent the largest market segment due to their strong affinity and purchasing power within the sports merchandise market.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Global Licensed Sports Merchandise Market Trends:
At present, sports leagues and organizations are partnering with several companies to expand their licensed merchandise offerings beyond traditional items such as jerseys and hats. It includes products such as branded apparel, accessories, home goods, and even food and beverage items. Moreover, with several advancements in technology and manufacturing processes, licensed sports merchandise has become more innovative in terms of design and functionality. This includes the use of performance fabrics in apparel, advanced printing techniques for graphics, and creative product collaborations with designers and artists. Besides this, the rise of e-commerce has significantly impacted the licensed sports merchandise market, providing fans with easier access to a broader range of products. Furthermore, online retailers and marketplaces have become important channels for both official team stores and third-party vendors to reach consumers worldwide.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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