Segment based analysis of the global sports merchandise market

The market for licensed sports merchandise is expected to grow rapidly as people who are obsessed with outdoor sports such as football, cricket and basketball do not mind spending money on licensed sports merchandise. Growing popularity of sports tournaments along with idolization favorite sports teams and personalities has led to the growth of demand for licensed sports merchandise.

According to a licensed sports apparel market report by Netscribes, the global licensed sports merchandise market is expected to generate a global revenue of USD 33.99 Bn, and expand at a compound annual growth rate (CAGR) of 5.1% by 2023. The global licensed sports merchandise market is classified into four segments –products, distribution channels, price range, and end users. Products consist of apparels, sport shoes, toys, accessories, gifts etc. The same licensed athletic apparel industry research report suggests that apparels will account for 36% of the market share by 2023. In regards to the price segment, the global licensed sports merchandise market is divided into economic price range and premium price range. Based on distribution channel, the offline distribution channel still holds dominance because people prefer to make a proper assessment of the merchandise before purchase. However, with growing awareness around e-commerce and social media, online sales are slowly picking up pace.

Finally the end user segment is divided among men, women and children. Even though men hold 55% of the global market share, women too are slowly taking an interest in sports. Geographically, the regional segmentation of Global Licensed Sports Merchandise Market includes North America, Asia Pacific, Europe, Latin America, Middle East and Africa. North America accounted for 65% of the market in 2018. Increase in purchasing power and interest in outdoor sports, especially in China act as key growth factors for the licensed sports merchandise market in the Asia Pacific region.