DUBLIN, January 14, 2022--(BUSINESS WIRE)--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 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 in the year 2020 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.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of COVID-19 Pandemic and Looming Global Recession
2020: A Year of Disruption & Transformation
As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
Social Distancing, Restrictions on Tourism, and Decimated Consumer Confidence Bring Down the Sports Goods Industry
Impact of COVID-19 Pandemic on Licensed Sports Merchandise
COVID-19's Impact on the Licensed Sports Apparel Industry
An Introduction to Licensed Sports Merchandise
Global Market Prospects & Outlook
Sports Apparel & Footwear: The Leading Product Type
Online Sales of Licensed Sports Merchandise Poised for High Growth
Developed Regions Lead, Developing Economies to Boost Long-term Growth
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 62 Featured)
Everlast Worldwide, Inc.
Knights Apparel, Inc.
Li Ning Company Limited
Quick Silver, Inc.
Ralph Lauren Corporation
Sports Direct International PLC
3. MARKET TRENDS & DRIVERS
Focus of Brands on Curbing Counterfeiting of Sports Goods Drives Market Growth
Rise in Number of Sports Enthusiasts and Growing Participation in Sports & Fitness Activities Fuels Demand for Licensed Products
Rising Investments in Sports Licensing Worldwide: Opportunity for Growth
Booming Online Retail Sector Presents Lucrative Opportunities for Licensed Sports Merchandise
Continuous Growth in Number of Sports Leagues Augurs Well for the Market
Expanding Entertainment Industry Drives Trend Towards Marketing of Sports as Entertainment
Popularity of Athleisure Spurs Growth Outlook for Licensed Sports Merchandise
Licensing Needs a Shot in the Arm in Sports Footwear Market
Licensed Sports Video Games Poised for Strong Growth
Merchandise Stores Adapt to the New Normal to Revive Sales
Conventional Sponsorship Deals Likely to Become License-Focused
Growing Role of NFTs in Sports Licensing
Regulatory Frameworks for Sporting Events and Sports Leagues/Teams Impact Market Dynamics
Widespread Implementation of Effective Sports Marketing Strategies to Drive Gains for Merchandise Sales
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
Total Companies Profiled: 62
For more information about this report visit https://www.researchandmarkets.com/r/qkmt67
View source version on businesswire.com: https://www.businesswire.com/news/home/20220114005326/en/
Laura Wood, Senior Press Manager
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