Licensed Sports Merchandise Market Comprehensive Global Analysis 2019: Product Category, Key Players Review and Forecast to 2023
Growing popularity of football, cricket, and basketball and other outdoor sports is expected to attract sports lovers as well as teenagers to spend more on Licensed Sports Merchandise. Licensed Sports Merchandise Market is also driven by product innovation and development activities to produce more attractive and stylish jerseys, sports shoes, and sports accessories catering to a large target audience across the globe.
The licensed sports merchandise market in North America is expected to dominate during the assessment period due to high popularity and fan following of NBA (National Basketball Association), NFL (National Football League), NHL (National Hockey League) and MLB (Major League Baseball). Moreover, Dallas Cowboys of NFL and Los Angeles Lakers of NBA have gained the highest popularity among Americans and is expected to boost the regional demand for licensed sports merchandise during the forecast period. Other popular teams of the region include The Montreal Canadiens of NHL and C.D. Guadalajara of Mexico’s professional football club. Growing retail sector and sports market in the region are further fueling the regional licensed sports merchandise market. Furthermore, major players in the market are endorsing various celebrities such as Michael Jordon under their special edition product category, thereby fueling the demand for licensed sports merchandise in the region.
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Some of the key players in the global licensed sports merchandise market are Nike, Inc. (US), Adidas AG (Germany), Puma SE (Germany), Sports Direct International plc (UK), Fanatics, Inc. (US), Ralph Lauren Corporation (US), Quiksilver, Inc. (US), G-III Apparel Group (US), Li Ning (China) and Knights Apparel, Inc. (US).
The global licensed sports merchandise market has been segmented by product type, price range, distribution channel, and region.
By product type, the global licensed sports merchandise market has been classified as sports apparel, sports footwear, sports accessories & toys, videogames, and others.
On the basis of price range, the global licensed sports merchandise market has been segregated into premium and economic.
The distribution channel segment of global licensed sports merchandise market is classified as store based and non-store based. The store based segment is further divided into hypermarkets and supermarkets, specialty stores, and others.
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The Europe market for licensed sports merchandise is expected to grow substantially during the assessment period. Wide reach of sports brands such as FIFA, The Tour De France, Real Madrid, Barcelona and Manchester United have raised the demand for licensed sports merchandise such as team jerseys and accessories including mugs and player figures. Moreover, high inclination towards health and wellness is expected to drive the purchase of fitness & sports equipment and sports goods, thereby boosting the licensed sports merchandise market in the region during the forecast period.
Asia-pacific is expected to register the highest CAGR in the global licensed sports merchandise market during the forecast period due to popularity of football, volleyball, basketball, and cricket in countries such as China and India. Introduction of sports events such as Pro-Kabaddi and Indian Premier League (IPL) in India as well as growing e-commerce platform giving rise to websites such as World Wrestling Entertainment (WWE) online shop are boosting the regional sales of licensed sports merchandise market. The market in rest of the world (RoW) is expected to witness a sluggish growth in the forecast period. However, strong promotional campaigns and sponsored events with increasing penetration of market players are expected to boost the regional demand for licensed sports merchandise during the forecast period.