Licensed Sports Merchandise Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the licensed sports merchandise market was valued at USD 34.2 billion in 2022, and a CAGR of 5.9% is expected during the forecast period. Growing demand for comfortable and high-performance sports materials is driving the market towards new heights. The increasing popularity of almost all the games in all over the world is driving significant growth in the market.

The increasing number of football leagues along with cricket leagues are driving growth in all over the world and the increasing competition among brands like adidas, Puma, and many other branded companies are driving growth in the market. Increasing demand for sports goods in all over the world is driving growth in the market significantly.

Growth Drivers

The increasing popularity of teams, players, and big tournaments like the World Cup and the UEFA Champions League, Indian Premier league along with the fan base of big players like Messi and Ronaldo, is driving growth in the Sports merchandise market. The increasing popularity of social media all over the world is the key reason behind the significant growth in the market. The growing trend of athletic wear and innovations in product design are driving demand in the Sports merchandise market.

Rising demand for eco-friendly materials and customization options is driving growth in the market significantly. Increasing demand for branded products in the market is driving significant growth in sports merchandise. The increasing promotion of branded goods is increasing the growth in the market significantly. Demand for jerseys worn by popular football players is driving the growth of the market. Football is the most popular sport in the world. The crazy fan base of these footballers all around the world is the biggest reason behind the significant growth in the market. Football is a game that remains more physically active in comparison to cricket. That’s why football is becoming more popular in the entire world with passing time. Messi and Ronaldo are youth icons, and their crazy fan base is ready to purchase the jerseys of their respective clubs. Countries mentioning their names are driving the market towards significant growth.

Segmentation

By Application

·         Professional Player

·         Amateur Player

By Products

·         Shirts

·         Pants

·         Shorts

·         Shoes

·         Others

Distribution Channel

·         Retail Stores

·         Online Stores

·         Department Stores

·         Specialty Stores

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Licensed Sports Merchandise Market by Application Segmentation

On the basis of the application, the Licensed sports merchandise market is segmented into professional players and amateurs. Professional players are the leading segment and are expected to dominate the market during the forecast period. There is a rising popularity among sports personnel to wear t-shirts that have the name of their ideal sports person. Professional footballers, and cricketers, and other sports person have a massive fan base all around the world, which translates into high demand for products associated with them.

Their endorsement deals with brands make their merchandise widely available and heavily promoted. Fans often idolize their favorite players, which is driving the growth in sales of jerseys, shoes, and other gear bearing their names and likenesses. Professional footballers are highly visible in the media, further ensures constant exposure and relevance, further growing the market for their merchandise. The presence of key players in North America, Europe, and Asia Pacific is driving the growth of the market significantly. Sports lovers are there in all over the world, and rising disposable income globally is the factor behind significant growth in the market.

Licensed Sports Merchandise Market by Products Segmentation

On the basis of the products, the licensed sports merchandise market is segmented into shirts, pants, shorts, shoes, and others. Due to their iconic status and strong emotional connection with fans, the shirt is the leading segment in the market and is expected to dominate during the forecast period. Shirts are highly visible during any sports matches, both in matches and on television, which amplifies their marketing impact. Furthermore, sports clubs regularly release new shirt designs, creating a continuous cycle of demand as fans seek to own their latest jerseys.

Shoes and shorts are another product that is expected to dominate the market moderately. The rising popularity of football, cricket, tennis, basketball, rugby, and baseball in all over the world is driving growth in the market. The increasing number of leagues and global adoption of football, and cricket, as the most beloved sport in all the countries are driving significant growth in the market. The increasing fan following of footballers, and cricketers like Messi, Ronaldo, Benzema, Virat, Rohit and others is the key factor behind the significant growth in the market.

Regional Outlook

On the basis of the regions, the licensed sports merchandise market is segmented into 5 parts: Asia Pacific, North America, the Middle East and Africa, and Europe. Europe is the leading segment in the market and is expected to drive growth in the market during the forecast period. The popularity of football in countries like Germany, Italy, France, and the United Kingdom is driving the demand for sports merchandise. The UEFA Champions League and other tournaments are driving the demand for sports apparel and boots. Lucrative Cricket leagues in Europe is also a key factor behind the significant growth in the market.

People are crazy about their ideal footballers, and cricketers. Increasing the demand for t-shirts, boots, and other goods is the key factor behind the significant growth in the market. The impact of some major football clubs like Chelsea, Manchester United, Manchester City, Arsenal, and Liverpool is increasing with time. North America is another major segment with United States of America, and Canada has a strong sports culture with major sports leagues like NBA, MLC, and NHL. Sports teams and leagues in North America has a well-established, and recognizable brands, which increases the appeal, and sales of their merchandise. Region has a large and affluent consumer base, willing to spend on sports merchandise. Increasing number of Retail stores in North America, where these sports goods are easily available is driving the demand for sports merchandise market. Significant investment in Sports marketing, and sponsorship is the key factor behind the significant growth.

 Asia-Pacific is another growing region due to the popularity of Sports in Japan, South Korea, China, and India. Emerging economies like China and India are also big markets in Sports merchandise due to increasing demand for goods related to sports. Latin America has a rich legacy in football due to the presence of Argentina and Brazil. Big fan-base of players from these countries is the factor driving growth in the market significantly. The Middle East and Africa are also a leading segment due to the popularity of football in Iran, Saudi Arabia, and Qatar.

Key Players

·         Adidas

·         Puma

·         Mizuno Corp.

·         Skechers USA Inc.

·         Under Armour Inc.

·         Lotto Sport Italia Spa

·         Xenith LLC

·         Columbia Sportswear Co.

·         Xtep International Holdings Ltd.

·         New Balance Athletics Inc

·         Other Players