Global Licensed Sports Merchandise Market Report and Forecast 2024-2032

Global Licensed Sports Merchandise Market Report and Forecast 2024-2032

Global Licensed Sports Merchandise Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global licensed sports merchandise market size reached a value of USD 35.70 billion in 2023. Aided by the rising participation in sports activities and greater availability of customised licensed sports merchandise, the market is projected to further grow at a CAGR of 5.1% between 2024 and 2032 to reach a value of USD 55.97 billion by 2032.

Licensed sports merchandise encompasses a wide array of products adorned with logos, symbols, and branding of professional sports teams, leagues, and athletes. From jerseys and caps to mugs and keychains, these products serve as tangible expressions of fan loyalty and allegiance. The allure of licensed sports merchandise lies in its ability to connect fans with their favourite teams and athletes, fostering a sense of belonging and community among supporters around the globe.

The global licensed sports merchandise market growth is propelled by a myriad of factors. The passion and loyalty of sports fans serve as the foundation of this market, driving demand for merchandise that allows fans to showcase their team pride and celebrate their sporting heroes. In addition, the growing popularity of professional sports leagues, events, and tournaments on a global scale has expanded the market's reach and appeal, attracting a diverse array of consumers across age groups and demographics.

Moreover, the advent of digital media and e-commerce has transformed the sports merchandise retailing, providing fans with convenient access to a vast array of products through online platforms and mobile apps. Social media platforms have also played a pivotal role in amplifying fan engagement and driving demand for licensed merchandise through targeted marketing campaigns and influencer collaborations, consequently driving up the licensed sports merchandise market share.

Customisation and personalisation have emerged as key trends in the market, with fans seeking unique and exclusive merchandise that reflects their individual style and preferences. From personalised jerseys with custom names and numbers to limited-edition collectibles, customisation options allow fans to create one-of-a-kind pieces that resonate with their passion for the game.

In the forthcoming years, a substantial portion of the licensed sports merchandise market is expected to be dominated by online distribution channels. This projection is primarily based on the convenience of online shopping and the extensive variety of products available in various sizes. The allure of significant discounts and complimentary delivery services also entices consumers to opt for online purchases of licensed sports merchandise. Moreover, the global accessibility and guarantee of product authenticity further contribute to the licensed sports merchandise market expansion.

Furthermore, sustainability and ethical sourcing have gained traction in the sports merchandise sector, with consumers expressing a growing preference for products that are eco-friendly, ethically produced, and socially responsible. As a result, brands and retailers are increasingly incorporating sustainable materials, ethical labour practices, and environmentally friendly packaging into their product offerings to appeal to conscientious consumers.

The market exhibits diverse trends and preferences across different regions and markets. North America remains the largest market for licensed sports merchandise, driven by the popularity of major professional sports leagues such as the NFL, NBA, MLB, and NHL. The region boasts a passionate fan base and a thriving sports culture, fuelling demand for a wide range of licensed products.

As per the licensed sports merchandise market analysis, in Europe, football reigns supreme as the dominant sport, with iconic clubs and leagues captivating the hearts and minds of millions of fans across the continent. The region's rich football heritage and tradition have spawned a lucrative market for licensed merchandise, including jerseys, scarves, and accessories adorned with club crests and player insignias.

Market Segmentation

The market can be divided based on the product, price range, distribution channel, and region

Market Breakup by Product

• Sports Apparel
• T-Shirts And Tops
• Sweatshirts And Hoodies
• Jackets
• Bottom Wear
• Others
• Sports Footwear
• Toys and Games
• Others

Market Breakup by Price Range

• Premium
• Economic

Market Breakup by Distribution Channel

• Online
• Offline

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global licensed sports merchandise market. Some of the major players explored in the report by Expert Market Research are as follows:

• Nike Inc.
• Adidas AG
• PUMA SE
• Fanatics Inc.
• DICK'S Sporting Goods, Inc.
• Iconix International
• New Era Cap Company Limited
• ’47 BRAND, LLC
• G-III Apparel Group, Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.