Growth in the commercialization of different tournaments and sports events across the major parts of the globe is expected to create promising growth opportunities in the licensed sports merchandise market in the forecast period of 2019 to 2027, states a research report by Transparency Market Research (TMR).
The study highlights that the global licensed sports merchandise market is estimated to expand at a CAGR of 6.5% during the forecast period 2019-2027.
The research document gives panoramic view of the licensed sports merchandise market. Thus, it gives readers access to dependable data and analysis on different facets such as drivers, restraints, growth avenues, trends, and threats in the market for licensed sports merchandise. Moreover, the study also offers detailed statistics on volume, share, production, sales, and revenues of the licensed sports merchandise market.
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Presence of Stringent Regulations by Regulatory Authorities about Sports Kits Drives Sales Avenues in Market
Different regulatory bodies related to sports activities from all across the globe have compelled to follow some stringent protocols pertaining to the sports kits, which include clothing as well as other merchandise. As a result, the players are required to be provided with licensed sports merchandise. This factor creates prominent growth opportunities for companies operating in the global licensed sports merchandise market.
In recent years, official sponsors of numerous events are promoting their names and logos on sports merchandise including t-shirts, sports equipment, and kits of players. This is one of the key trends creating new avenues for expansion in the licensed sports merchandise market.
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Presence of Well-entrenched Players Makes Competition Levels High
Nike Inc., VF Corporation, Adidas AG, Fanatics, Inc., G-III Apparel Group, Ltd., Puma SE, Hanesbrands Inc., Sports Direct International plc, DICK’S Sporting Goods Inc., and Under Armour, Inc. are some of the key players operating in the global licensed sports merchandise market.
The presence of many well-entrenched players shows that the competition landscape of the licensed sports merchandise market is quite fierce. As a result, market players are growing participation in different strategic moves. For instance, several enterprises in the market are entering into alliance agreements with sponsors of sports events.
Digital Platforms and E-commerce Websites Drive Sales Opportunities in Licensed Sports Merchandise Market
With increased use of Internet and smartphones across major parts of the globe, players operating in the licensed sports merchandise market are experiencing notable growth in the number of their sales. Owing to emergence of the COVID-19 pandemic, major consumer base today is inclined toward buying products through online platforms including e-commerce and fashion websites. This trend is projected to drive the expansion of the global licensed sports merchandise market in the upcoming years.
North America: Lucrative Market for Players
Asia Pacific, North America, Europe, Middle East and Africa, and Latin America are key regions for the global licensed sports merchandise market. Of them, North America is one of the leading regions in the market.
The North America licensed sports merchandise market is anticipated to grow on the back of rising demand for licensed sports goods by consumers and surge in the popularity of sports leagues in the region.
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Global Licensed Sports Merchandise Market Segmentation
The report analysts have performed segmentation of the global licensed sports merchandise market based on numerous important aspects such as product type, distribution channels, and region. Based on product type, the market for licensed sports merchandise is classified into sports footwear, sports apparel, video games or software, sports accessories and toys, domestic and housewares, and others. In terms of distribution channel, the segmentation of licensed sports merchandise market is performed into many parts such as e-commerce or online stores and offline stories.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Licensed Sports Merchandise Market (Product: Sports Apparel, Sports Footwear, Sports Accessories and toys, Video games, Domestic and Housewares, Others; Distribution Channel: E-Commerce or online stores, Offline Stores) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027.”
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