DUBLIN--(BUSINESS WIRE )--The "Licensed Sports Merchandise Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global licensed sports merchandise market reached a value of US$ 29.9 billion in 2021. Looking forward, the market is projected to reach US$ 39.8 billion by 2027, exhibiting a CAGR of 4.9% during 2022-2027.
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Licensed sports merchandise refers to various products that are endorsed by a sportsperson or a sports club. It includes products, such as sports gear, games, apparel, footwear and accessories for men, women and children that are available in a wide variety of colors, variants and sizes.
The licensing organizations pay a certain amount of royalty to the sports entities for the merchandise that is sold with the copyrighted logos, designs and other brandings. This minimizes infringements on the trademarks of teams and players and aids in curbing the manufacturing of counterfeit products of sports-related brands.
A rising number of sports enthusiasts, along with rapid urbanization and the proliferation of the online retail sector, is one of the key factors driving the growth of the market. Furthermore, a significant increase in the number of regional and international sports leagues is also providing a boost to the market growth.
There is a continual shift in consumer preference from traditional retailing channels toward online platforms that offer a wide range of products and convenient shopping experience of purchasing authentic premium-quality goods at competitive prices.
Additionally, the development of innovative breathable, lightweight and waterproof sports apparel and accessories is also acting as another growth-inducing factor. Products such as jerseys, socks, tracksuits, t-shirts, lowers and activewear, which are printed with the logos of major sports teams, have gained immense traction among consumers who prefer fashionable casual and gym wear. Other factors, including rising expenditure capacities of the consumers, along with increasing investments in sports licensing across the globe, are projected to drive the market further.
Key Questions Answered in This Report
5 Global Licensed Sports Merchandise Market
6 Market Breakup by Product Type
7 Market Breakup by Distribution Channel
8 Market Breakup by Price Range
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T. Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900