According to a new Netscribes report published on Research on Global Markets, the global licensed sports merchandise market is expected to have a compound annual growth rate (CAGR) of 5.1% till 2023, and reach a market size of USD 33.99 Bn during the 2018 – 2023 period.
Sports merchandise licensing has emerged as an effective method to curb the manufacturing of counterfeit products of sports teams and sports merchandise brands and reduce infringement on trademarks. According to the report, the licensed footwear segment of the market is poised for significant expansion on a CAGR basis owing to the growing demand for different types and styles of licensed footwear. In terms of distribution channels, the offline stores hold the largest share of the global licensed sports merchandise market as consumers generally prefer to be physically present when buying their favorite sports gear.
The report also shows that the men’s segment currently holds a larger market share compared to the women’s segment in terms of the end user. However, the women’s segment is expected to witness a higher CAGR than the men’s segment by 2023, owing mainly to increased enthusiasm about sports among women. Region-wise, North America currently holds the largest market share, driven by increased viewership of sports leagues in the region. Latin America is expected to witness the highest growth rate during the forecasted period.
Check out the Netscribes report featured in this article:
Key highlights of this report:
- Global market overview - historical (2015–2017) and forecasted (2018–2023) market size (USD Bn), geography-wise market revenue (USD Bn), and market attractiveness analysis
- Qualitative analysis of the drivers and challenges affecting the global market
- Major trends in the global licensed sports merchandise market
- Analysis of the competitive landscape and profiles of the major players operating in the market
- Market segmentation based on types of products (apparel, footwear, accessories, and others) – historical (2015–2017) and forecasted (2018–2023) market size (USD Bn), and key market observations
- Market segmentation based on distribution channels (offline distribution and online distribution) – historical (2015–2017) and forecasted (2018–2023) market size (USD Bn), and key market observations
- Market segmentation based on end users (men, women and children) – historical (2015–2017) and forecasted (2018–2023) market size (USD Bn), and key market observations
- Market segmentation based on region (North America, Europe, Asia-Pacific, Latin America, and The Middle East and Africa)
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for licensed sports merchandises worldwide to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.