Global Licensed Sports Merchandise market expected to reach approximately USD 48,782.08 million by 2024, growing at a CAGR of around 6.56% between 2018 and 2024
NEW YORK, NEW YORK, UNITED STATES, February 25, 2020 /EINPresswire.com/ — Zion Market Research has published a new report titled “Licensed Sports Merchandise Market By Product Category (Apparel And Footwear, Accessories And Gifts, Toys And Games, And Others), By Distribution Channel (E-Commerce Or Online Stores, Offline Stores, Department Stores, Specialty Stores, And Others), By Price Range (Premium And Economic) – Global Industry Perspective, Comprehensive Analysis And Forecast, 2017 – 2024”. According to the report, the global licensed sports merchandise market was valued at around USD 31,288.63 million in 2017 and is expected to reach approximately USD 48,782.08 million by 2024, growing at a CAGR of around 6.56% between 2018 and 2024.
Sports licensing is one of the fastest growing categories, worldwide. The rise in the number of sports leagues may help growth in licensed sports merchandise industry. Moreover, sports merchandise also help with marketing. In fact, another prominent finding in this area is that women’s merchandising. Many retailers specialize in selling licensed sports apparel from various sports teams and leagues. Innovation in sport apparel accessories will fuel the market growth among youngsters.
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The licensed sports merchandise market is anticipated to witness significant growth within the forecast period. The market is mainly driven by growing demand for apparel and footwear products which are widely accepted by consumers over the years. The apparel market is growing towards the high value-added product in the licensing industry. The licensed sports goods would facilitate manufacturers, suppliers, and distributors to analyze the demand for apparel and footwear, accessories and gifts, toys and games, and others across different regions. Innovation and development in sports apparel and sports accessories with more attractive and stylish form also drives the licensed sports merchandise market. Government regulations on the quality and the price of the products may hinder the global licensed sports merchandise market growth over the forecast period.
The global licensed sports merchandise market can be segmented on the basis of product category, distribution channel, and price range. The product category includes apparel and footwear, accessories and gifts, toys and games, and others. Apparel and footwear held significantly the largest share among all others. In terms of the distribution channel, the licensed sports merchandise market is classified into e-commerce or online stores, offline stores, department stores, specialty stores, and others. Offline stores include mass stores, supermarkets, etc. Consumers most possibly select offline stores sector for purchasing licensed sports goods. Growing awareness about e-commerce and online sales also sets a notable impact on licensed sports merchandise market. By pricing, the global licensed sports merchandise market is segmented into premium price range and economic price range.
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The regional segmentation includes North America, Europe, Asia Pacific, Latin America, and the Middle and Africa. In 2017, North America was the most dominating region in terms of demand for licensed sports merchandise market due to its growing popularity of sports leagues and increasing fan base. Increasing awareness about the internet and online sales in developing and developed region also sets a prominent impact on sport licensed market. The Asia Pacific is expected to be the most potential market for licensed sports merchandise. The market growth is mainly due to the increasing population in developing countries such as India and China. The Middle East and Africa are constituted to set new revenue growth for licensed sports merchandise product manufacturers.
The report includes detailed profiles of important players operating in the global licensed sports merchandise market such as Adidas AG, Nike Inc., Fanatics, Inc., DICK’S Sporting Goods Inc., Under Armour, Inc., Sports Direct International plc, Puma SE, G-III Apparel Group, Ltd., Hanesbrands Inc., VF Corporation, and others. The detailed description of key players include parameters such as key developments, company overview, business strategy, and financial overview of the company.
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This report segments the Global Licensed Sports Merchandise Market as follows:
Global Licensed Sports Merchandise Market: Product Category Segment Analysis
Apparel and footwear
Accessories and gifts
Toys and games
Global Licensed Sports Merchandise Market: Distribution Channel Segment Analysis
E-Commerce or online stores
Global Licensed Sports Merchandise Market: Price Range Segment Analysis
Global Licensed Sports Merchandise Market: Regional Segment Analysis
The Middle East and Africa
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Source: EIN Presswire