Licensed Sports Merchandise Market Expected to Reach US$ 46,881.6 Mn by 2026
Posted: Jan 27, 2019
According to a new market report published by Transparency Market Research titled "Licensed Sports Merchandise Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026," the global licensed sports merchandise market is expected to reach a value of US$ 46,881.6 Mn by 2026. The market is estimated to expand at a CAGR of 4.8% during the forecast period from 2018 to 2026. In terms of volume, the market is expected to reach 1184.9 million units at a CAGR of over 4.1% by 2026. The Asia Pacific licensed sports merchandise market is projected to witness the highest growth during the forecast period. With growing consumer preference and huge market potential, the licensed sports merchandise market is expected to witness considerable growth in the coming years. In this report, on the basis of product category type, the licensed sports merchandise market is segmented into sports apparel, sports footwear, sports accessories, toys and videogames or software, domestic and housewares, and others. Others licensed sports merchandise type includes souvenirs, gifts or novelties, consumer electronics, and food and beverages. Based on distribution channel type, the licensed sports merchandise market is bifurcated into e-commerce or online stores and offline stores. Offline stores are further segmented into departmental stores, specialty stores, and others. Others offline stores segment includes mass stores, supermarkets, and discount stores.
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Globally, sports apparel type dominates the market in terms of revenue. Sports apparel segment held the largest share in the global licensed sports merchandise market, accounting for more than 30.0% share in 2017. Sports apparel constituted a majority share in terms of revenue in the North America licensed sports merchandise market in 2017 and this trend is expected to continue over the forecast period. The growing number of sporting leagues and their fan base is propelling the demand for licensed sports goods. With the increasing disposable income, most customers are ready to pay extra for licensed sports products to support their favorite sports team and players.
In terms of licensed sports merchandise product category type, video games or software is the most potential market which is expected to witness significant growth rate during the forecast period due to its growing popularity among consumers of all age groups and also due to strong performance of mobile games. Hence, growth of this particular product category is on the rise and is anticipated to maintain its position during the forecast period from 2018 to 2026.
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Geographically, the licensed sports merchandise market is bifurcated into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America. Regionally, North America accounted for the largest market share in 2017 and is anticipated to grow steadily due to increasing popularity of sporting leagues and their increasing fan base. However, Asia Pacific is expected to be one of the most potential markets for licensed sports goods owing to rising disposable income, high population density, and rising number of sports loving people who are ready to pay considerable amounts for licensed sports goods in this emerging economy. It is anticipated to be the most swiftly developing region due to increasing demand for licensed sporting goods in the developing economies of China and India. Large multinational companies invest significantly in marketing and product distribution. These companies adopt extensive marketing and branding strategies to improve their market presence and thus strengthen their consumer base.
Sports apparel constituted majority share in terms of revenue in the North America licensed sports merchandise market in 2017 and this trend is expected to continue during the forecast period. Europe held the second largest market share in 2017. Sports brands are targeting female customers due to the increasing popularity of female sports. Furthermore, expansion of distribution channels is one of the major factors driving the licensed sports merchandise market in the region. Manufacturers are focusing on creating wider distribution channels in order to cope with rising competition and increasing consumer demand for licensed sports goods across Europe. In terms of revenue, Asia Pacific is expected to be the fastest growing regional market for licensed sports goods. This region is expected to witness highest growth on account of high population density, changing standard of living, and rising disposable income in the developing economies of China and India.
Researcher Tech Trends Up To Date. Market research is an important component of modern business strategy; the process of systematic gathering