The global licensed sports merchandise market is likely to increase with a CAGR of 6.5% from 2019 to 2027. It has been projected that the market will rise to US $ 58.7 bn by the end of 2027 from a valuation of US $ 35.5 bn in 2018 .
The licensed sports merchandise market is growing owing to the increasing popularity of sporting leagues and their increasing fan bases. Technological advancement in sports equipment is also affecting the global licensed sports merchandise market growth.
NFL, MLB, Premier League and the NBA form the major leagues that enjoy huge popularity in merchandise sales. Among all of these, the NFL and MLB together account for almost 50% of the North America licensed sports merchandise market in terms of revenue. The market is primarily dominated by professional sports leagues. In addition to this, increasing demand and fascination of consumers towards licensed sports goods as well as the increase in popularity of leagues across the US helps to increase in adoption of licensed sports apparel for their favorite sports team and team player.
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The market is extremely competitive in nature with the presence of many domestic players. The leading licensed sports merchandise manufacturers are Great American Products, Under Armor, New Era Cap, Knight Apparels, Jarden Corporation, Dick’s Sporting Goods, G-III Apparel, VF Corporation, Nike Inc., Reebok, and Adidas.
Increasing sales from emerging economies in Middle East & Africa and South America is driving the market growth. Factors such as economic stability and high purchasing power are mainly responsible for the growth of the licensed sports merchandise market in South America and the Middle East. In addition, increase in number of sportswear brands and rising number of retail specialists coupled with opening of new shopping malls, particularly across GCC countries in 2018 is propelling market growth in this region.
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