The global licensed sports market is anticipated to grow at a CAGR of 5.1% during the forecast period (2022-2028). The licensed sports merchandise market includes clothing and other things associated with sports clubs or athletes. For brand marketing, they are created and sold in retail by authorized sports merchandise makers or retailers. For the product supplied under the permit that uses copyrighted logos and other marking characteristics, the approved companies pay a certain degree of sovereignty to the sports authorities. Licensed sports gear is a way of promoting the game’s brand, and athletes are recruited to appear in ads promoting the product. For each sporting season, for instance, sports supply manufacturers develop a specific range of goods to commemorate championship victories.
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Some driving factors for the global licensed sports market are:
- The popularity of international leagues is driving the demand for licensed sports items. The use of licensed sports items has aided in maintaining uniformity and progress throughout sporting events. It is reasonable to anticipate increased revenue in the global sports merchandise sector.
- Numerous sporting events take place across the globe, and sports merchandise serves to promote their logos and brands. The licensed sports merchandise sector generates the majority of revenue in the global sports business. Commercialization and promotion of sporting events and competitions have resulted in a global surge in the popularity of licensed sports products.
- Governments are investing in this market in order to publicize sports-related activities. Many people have found work as a result of sports advertising all across the globe. Sports events have also become a way for businesses to invest a huge sum of money.
Some major players in the market include, Adidas AG, Under Armour, Inc., Nike Inc., Puma SE, and Iconix Brand Group, among others. The market players are additionally, contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance, in March 2022, Puma extended its cooperation with the W Series, an international motor racing championship for female drivers, to provide high-performance and flame-resistant race wear.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Adidas AG, Iconix Brand Group, Nike Inc., Puma SE, and Under Armour, Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Licensed Sports Merchandise Market Report by Segment
By Type
- Sports Apparel
- Sports Footwear
- Sports Accessories & Toys
- Video Games or Software
- Others
By Application
- Household
- Commercial
- Others
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