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on January 31, 2024
IMARC Group's report titled "Licensed Sports Merchandise Market Report by Product Type (Apparel and Footwear, Accessories and Gifts, Toys and Games, and Others), Distribution Channel (Online Stores, Supermarkets and Hypermarkets, Departmental Stores, Specialty Stores, and Others), Price Range (Premium, Economic), End-User (Men, Women, Children), and Region 2024-2032". The global licensed sports merchandise market size reached US$ 32.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 44.1 Billion by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032.
Factors Affecting the Growth of the Global Licensed Sports Merchandise Industry:
- Expansion of Sports League:
The global popularity and expansion of sports leagues are key drivers of the licensed sports merchandise market. Major leagues like the NFL, NBA, MLB, and UEFA have a massive fan base that spans across different continents. The international reach of these leagues has been amplified through media broadcasting deals, making games accessible to a global audience. This widespread exposure fuels fan enthusiasm and loyalty, driving the demand for team and player-specific merchandise. Furthermore, the expansion of these leagues into new markets, often through international games or partnerships, introduces the sports and teams to new audiences, creating fresh demand for merchandise.
- Expanding E-commerce Industry:
The growth of e-commerce and online retail channels has significantly propelled the licensed sports merchandise market. The convenience of online shopping, combined with the wide variety of available products, makes it easier for fans to purchase merchandise from anywhere in the world. Online platforms provide access to a broader range of products, including limited edition items and international team merchandise, which might not be available in traditional retail stores. Furthermore, the rise of mobile commerce has facilitated impulse buying and made it convenient for consumers to make purchases through smartphones and other mobile devices. E-commerce platforms also leverage digital marketing strategies and social media platforms to target sports enthusiasts, effectively increasing sales. The seamless shopping experience, enhanced by features like easy returns, customer reviews, and fast shipping, continues to attract consumers to online channels for purchasing sports merchandise.
- Influence of Social Media:
Social media and celebrity endorsements play a significant role in driving the licensed sports merchandise market. Athletes and sports teams have substantial followings on platforms like Instagram, Twitter, and Facebook, where they can engage directly with fans. This engagement creates a personal connection between fans and their favorite players or teams, increasing the desire to purchase merchandise associated with them. Social media platforms also serve as a medium for product launches and marketing campaigns, where teams and brands can showcase new merchandise, creating buzz and anticipation among fans. Additionally, celebrity endorsements, where famous athletes promote specific sports merchandise, significantly influence consumer preferences and buying decisions. Fans often aspire to emulate their sports idols, which includes purchasing merchandise they endorse or wear. The powerful combination of social media presence and celebrity influence continues to be a major driver in the licensed sports merchandise market.
Leading Companies Operating in the Global Licensed Sports Merchandise Industry:
- Adidas AG
- Columbia Sportswear
- Dick's Sporting Goods Inc.
- Fanatics Inc.
- G-III Apparel Group Ltd.
- Hanesbrands Inc.
- Nike Inc.
- Prada
- Puma SE
- Sports Direct International Plc
- Under Armour Inc.
- VF Corporation
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/licensed-sports-merchandise-market/requestsample
Licensed Sports Merchandise Market Report Segmentation:
By Product Type:
- Apparel and Footwear
- Accessories and Gifts
- Toys and Games
- Others
Apparel and footwear represented the largest segment as they provide a visible way for fans to express their allegiance, making them sought-after items.
By Distribution Channel:
- Online Stores
- Supermarkets and Hypermarkets
- Departmental Stores
- Specialty Stores
- Others
Specialty stores represents the largest segment as they are are dedicated to curating a diverse and exclusive collection of products.
By Price Range:
- Premium
- Economic
Premium accounted for the largest market share as it boasts superior materials, attention to detail, and innovative designs.
By End User:
- Men
- Women
- Children
Men accounted for the largest market share as appeal of licensed sports merchandise to men is multifaceted.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Licensed Sports Merchandise Market Trends:
Brands are focusing on enhancing fan engagement by offering personalized and customizable sports merchandise. Fans can now personalize jerseys, apparel, and accessories with their names or favorite players' names and numbers. Besides, there is a growing demand for retro and vintage-style sports merchandise. Nostalgia-driven designs and classic team logos are popular among fans of all ages. Moreover, increasing environmental awareness has led to the development of eco-friendly licensed sports merchandise. Brands are using sustainable materials and adopting environmentally responsible practices in manufacturing.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact Us:
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