Licensed Sports Merchandise Market size is set to grow by USD 7.78 billion from 2024-2028, design and material innovations leading to product premiumization boost the market, Technavio

NEW YORK, June 19, 2024 /PRNewswire/ -- The global licensed sports merchandise market size is estimated to grow by USD 7.78 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 4.64%  during the forecast period. Design and material innovations leading to product premiumization is driving market growth, with a trend towards increasing popularity of athleisure. However, increasing competition from unorganized sectors  poses a challenge. Key market players include 47 Brand LLC, Adidas AG, ANTA Sports Products Ltd., Boardriders, Columbia Sportswear Co., DICKS Sporting Goods Inc., Fanatics Inc., Frasers Group plc, G III Apparel Group Ltd., Hanesbrands Inc., Li Ning Co. Ltd., New Era Cap LLC, Nike Inc., Prada Spa, PUMA SE, Ralph Lauren Corp., Rawlings Sporting Goods Co. Inc., Thornico AS, Under Armour Inc., and VF Corp.. Continue Reading

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Licensed Sports Merchandise Market Scope
Report Coverage	Details
Base year	2023
Historic period	2018 - 2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 4.64%
Market growth 2024-2028	USD 7787.2 million
Market structure	Fragmented
YoY growth 2022-2023 (%)	4.36
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 34%
Key countries	US, China, Germany, UK, and Japan
Key companies profiled	47 Brand LLC, Adidas AG, ANTA Sports Products Ltd., Boardriders, Columbia Sportswear Co., DICKS Sporting Goods Inc., Fanatics Inc., Frasers Group plc, G III Apparel Group Ltd., Hanesbrands Inc., Li Ning Co. Ltd., New Era Cap LLC, Nike Inc., Prada Spa, PUMA SE, Ralph Lauren Corp., Rawlings Sporting Goods Co. Inc., Thornico AS, Under Armour Inc., and VF Corp.

Market Driver

The global licensed sports merchandise market is experiencing significant growth due to the popularity of athleisure fashion. Athleisure refers to clothing designed for athletic activities that are suitable for workplaces and other locations. Major athleisure outfits include yoga pants, leggings, gym tanks, sports bras, tights, shorts, and sneakers. Consumer purchasing power and changing preferences, influenced by celebrity endorsements, are driving demand for these products. Innovations in design and materials, such as moisture-wicking and stretchability, are enhancing adoption rates. Major vendors, like Adidas AG, are offering versatile shoes that cater to both athletic and casual occasions. The rise of athleisure is expected to continue supporting the growth of the global licensed sports merchandise market. 

The licensed sports merchandise market is thriving with various brands and teams selling their official merchandise. Popular items include jerseys, hats, balls, and other sports equipment. Brands and teams use social media and promotional events to increase sales. Fans are always on the lookout for the latest designs and collections. Brands often collaborate with athletes to create exclusive merchandise. Consumers can purchase these items online or in-store. Brands also offer customization options for fans to personalize their merchandise. The market is expected to grow as the popularity of sports continues to rise. Sports merchandise is a significant source of revenue for teams and leagues. 

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Market Challenges

• The global licensed sports merchandise market faces challenges from the rise of local and unorganized vendors. These competitors offer cost-effective products, leading to decreased revenue for major vendors and occupied shelf space in supermarkets. The market's fragmentation, with various local, regional, and international players, may hinder growth. Low entry barriers empower buyers, resulting in intense price competition that hinders market expansion during the forecast period.
• The licensed sports merchandise market faces several challenges in the current business landscape. Key areas of concern include the high cost of licensing fees, the need to keep up with ongoing trends in sports and fashion, and the increasing importance of online sales channels. Additionally, marketers must navigate the complexities of international markets and regulations, as well as manage inventory and distribution logistics. Brands must also invest in marketing and promotion efforts to build consumer interest and loyalty. Competition from unlicensed merchandise and counterfeit goods is another significant challenge. Overall, the licensed sports merchandise industry requires strategic planning, effective supply chain management, and a strong brand identity to succeed.

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Segment Overview 

This licensed sports merchandise market report extensively covers market segmentation by  

1. Distribution Channel

• 1.1 Offline
• 1.2 Online

End-user 

• 2.1 Men
• 2.2 Women
• 2.3 Children

Geography 

• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Offline-  The licensed sports merchandise market encompasses sales through various offline channels, including specialty stores, hypermarkets, supermarkets, and department stores. Specialty stores offer a wide range of sports merchandise, while hypermarkets and supermarkets provide competitive pricing and convenience. Department stores serve as one-stop solutions for customers. Vendors expand their offline presence to boost sales and cater to diverse customer categories. Innovative marketing strategies sustain the growth of the offline segment despite increasing online shopping preference.

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Research Analysis

The licensed sports merchandise market caters to sports enthusiasts seeking authentic apparel and accessories from their favorite professional sports leagues. Urbanization and the shift towards online retailing have significantly impacted this industry. Traditional retailing channels have been surpassed by online platforms, offering convenience and ease of access. T-shirts, tops, sweatshirts, hoodies, jackets, caps, and athletic footwear are popular categories in this market. Material quality is a crucial factor, ensuring high-quality goods align with the brands' alliances. Sedentary lives and health issues, including muscular injuries and hip discomfort, have increased the demand for comfortable and durable merchandise. Smart phones and internet usage facilitate online marketplaces, making high-quality sports merchandise accessible to fans worldwide.

Market Research Overview

The Licensed Sports Merchandise Market encompasses a wide range of products, including clothing, accessories, and collectibles, that bear the logos, names, or likenesses of various sports teams and athletes. This market caters to fans who seek to express their loyalty and support for their favorite teams and players. The market is driven by several factors, such as increasing fan engagement, growing global sports fandom, and advancements in technology that enable more innovative and personalized merchandise offerings. The market is segmented based on product type, distribution channel, and region. The product type includes apparel, accessories, collectibles, and other merchandise. The distribution channel includes retail stores, online platforms, and direct-to-consumer sales. The market is global in nature, with significant demand coming from regions such as North America, Europe, and Asia Pacific.

Table of Contents:

1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation

• Distribution Channel
• Offline
• Online
• End-user
• Men
• Women
• Children
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio Originally published at https://www.prnewswire.com/news-releases/licensed-sports-merchandise-market-size-is-set-to-grow-by-usd-7-78-billion-from-2024-2028--design-and-material-innovations-leading-to-product-premiumization-boost-the-market-technavio-302176409.html Images courtesy of https://pixabay.com