Licensed Sports Merchandise Market Size was valued at USD 23.90 billion in 2023. The licensed sports merchandise market industry is projected to grow from USD 25.22 Billion in 2024 to USD 38.33 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.37% during the forecast period (2024 - 2032). Sports leagues are becoming more popular, and teenagers are becoming more interested in sports are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
One of the major factors driving the market's expansion is the growing population of sports enthusiasts, together with increased urbanization and the expansion of the online retail industry. The growth of the market is also being aided by a notable rise in the number of regional and worldwide sports leagues. Consumer preference is constantly shifting away from traditional retailing channels and towards online platforms that provide a large selection of products and a convenient shopping experience for buying genuine premium-quality goods at reasonable costs. Licensed sports products such as t-shirts & tops, sweatshirts & hoodies, jackets, bottom wear, caps, and hats, etc., featuring logos of famous sports teams, are gaining attraction among sports enthusiastic people. Additionally, rising consumer spending power and increased investment in sports licensing fuel the market CAGR.
However, when individuals resume their normal lives and engage in different sporting activities, the market is anticipated to gradually return to pre-pandemic levels. Positive effects are projected during the forecast period as a result of this. For instance, the Saudi Arabian Football Association (SAFF) declared in November 2022 that the German sportswear juggernaut Adidas will take over from Nike as the official kit supplier of Saudi Arabia's national soccer teams beginning in 2023. The agreement, which covers the men's, women's, and juvenile sides of the SAFF, makes Adidas the only provider of all training and game apparel through the year 2026. Thus, driving the licensed sports merchandise market revenue.
The licensed sports merchandise market segmentation, based on product type, includes sports apparel, sports footwear, sports accessories & toys and others. Sports footwear, such as running shoes, football shoes, sneakers, and lifestyle shoes, are predicted to expand the fastest in the future years. Consumers' growing fitness concerns as a result of sedentary lives and health issues have increased demand for the category. Individuals are also becoming more aware of the need of wearing the proper shoes for sporting activities in order to avoid muscular injuries, leg injuries, knee pain, hip discomfort, and back pain. As a result, demand for athletic footwear is predicted to skyrocket in the coming years.
Figure 1: Licensed Sports Merchandise Market, by Product type, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The licensed sports merchandise market segmentation, based on Price Range, includes premium and economic. These two-price range segment is set up based on the functionality and quality of the product.
The licensed sports merchandise market data has been bifurcated by distribution channel into Store and Non-Store. The demand for licensed sports merchandise is anticipated to be dominated by the non-store based category. The demand for officially licensed sports merchandise through non-store based channels is booming thanks to the increased adoption of smart phones and internet usage. It's easy to compare product prices on online websites. They frequently provide users with a number of discounts. This prompted consumers to continue shifting their purchasing decisions away from conventional retailing channels and towards online marketplaces that provide a vast array of high-quality goods at reasonable prices. Due to several brands' recent launches of new product lines on e-commerce websites, e-commerce is expected to overtake traditional retail as the most popular distribution channel for licensed sports merchandise in the upcoming years.
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America became the largest market in 2022 and is expected to account for over 52.01% of the worldwide market by 2030. Increased participation in sports such as baseball, basketball, and soccer, particularly among college and university students, active lifestyles among the general public, and an increase in the adoption of health and fitness activities are all factors that are likely to create new growth opportunities for market players in the North American licensed sports merchandise industry.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: LICENSED SPORTS MERCHANDISE MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe licensed sports merchandise market accounts for the second-largest market share. The growing popularity of various international sports among youth, as well as increased adoption of cross-cultural fashion trends, are expected to drive the market growth of licensed sports items. Further, the Germany licensed sports merchandise market held the largest market share, and the UK licensed sports merchandise market was the fastest growing market in the European region
The Asia-Pacific Licensed Sports Merchandise Market is expected to grow at the fastest CAGR from 2022 to 2030. Because the Asian and Pacific region's populace is becoming increasingly interested in football and cricket. The popularity of sports-licensed accessories, such as sunglasses, seat coverings, cushions, phone cases, game cards, wallets, mugs, and key chains, in growing nations of the Asia Pacific, such as India, Japan, and China, is another factor contributing to the market size's anticipated growth. To further demonstrate its presence in the region, the Juventus Football Club in the Asia Pacific put out its licensed goods in nations including China, Japan, and Australia. These products included automobile accessories, clothing, luggage, and electronics. Moreover, China licensed sports merchandise market held the largest market share, and the India licensed sports merchandise market was the fastest growing market in the Asia-Pacific region
Leading industry participants are investing a lot of money in R&D to expand their product offerings, which will spur further growth in the market for licensed sports products. Participants in the market are also undertaking a variety of strategic initiatives to expand their footprint, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. In order to grow and survive in an atmosphere where competition is fierce and the market is growing, competitors in the licensed sports apparel industry must provide affordable products.
Manufacturing locally to cut costs is one of the main business methods used by manufacturers in the worldwide licensed sports merchandise industry to benefit customers and increase the market sector. Some of medicine's most important advantages in recent years have come from the sports industry products market. Major players in the licensed sports merchandise market including Quiksilver Inc. (US), Puma SE (Germany), Li Ning (China), Fanatics, Inc. (US), Adidas AG (Germany), Sports Direct International plc (UK), and others are attempting to increase market demand by funding R&D initiatives.
Nike, Inc. (stylized as NIKE) is an American multinational corporation that creates, develops, produces, and markets and sells footwear, clothing, equipment, accessories, and services on a scale. The business has its headquarters in the Portland metro area, close to Beaverton, Oregon. With sales exceeding US$37.4 billion in its fiscal year 2020, it is the largest maker of sports equipment as well as a supplier of athletic shoes and apparel (ending May 31, 2020). It had 76,700 employees worldwide as of 2020. In September 2022, LeBron's XX shoe, which has a lower profile, zoom air in the forefoot and heel, and a carbon fibre midfoot shank, was introduced by Nike, Inc. LeBron James' 20th year with Nike and his 20th season in the NBA served as the inspiration for the shoe.
Puma SE, also known as PUMA, is a German company with headquarters in Herzogenaurach, Bavaria, Germany. It creates and produces athletic and casual footwear, clothing, and accessories. The third-largest sportswear producer in the world is Puma. Rudolf Dassler created the company in 1948. (1898–1974). Rudolf and his brother Adolf "Adi" Dassler founded Gebrüder Dassler Schuhfabrik together in 1924. (Dassler Brothers Shoe Factory). The two brothers' friendship worsened until they decided to separate in 1948 and create two own companies, Adidas and Puma. In September 2022, Puma SE introduced its Fandom Collection of athletic shoes. The company's new product development strategy aids in influencing the next generation of football supporters.
Key Companies in the licensed sports merchandise market includes
Licensed Sports Merchandise Industry Developments
In September 2022, Nike.Inc struck a six-year collaboration with South Africa Rugby Union. (SARU). The agreement covers the men's Rugby World Cups in 2023 and 2027, with Nike releasing the first new Springboks jerseys in July 2023.
In June 2022, Puma SE launched its first dedicated app in India. Puma wanted to capitalize on the growing demand for branded footwear and fitness wear in India by launching its app in India before any other country.
In September 2022, Nike Inc. introduced Men's National Team Collections. The company can serve more football fans worldwide thanks to the new product innovation and product portfolio expansion.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 23.90 billion |
| Market Size 2024 | USD 25.22 billion |
| Market Size 2032 | USD 38.33 billion |
| Compound Annual Growth Rate (CAGR) | 5.37% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Price Range, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Puma SE (Germany), Li Ning (China), Fanatics, Inc. (US), Adidas AG (Germany), Sports Direct International plc (UK), G-III Apparel Group (US), Knights Apparel, Inc. (US), |
| Key Market Opportunities | Government officials investing more money, massive attendance at athletic events, and popularity of major sports leagues |
| Key Market Dynamics | Rising young interest, escalating popularity of sports leagues |
Licensed Sports Merchandise Market Highlights:
Frequently Asked Questions (FAQ) :
The licensed sports merchandise market size was valued at USD 23.90 Billion in 2023.
The market is projected to grow at a CAGR of 5.37% during the forecast period, 2024-2032.
North America had the largest share in the market
The key players in the market are Adidas AG (Germany), Sports Direct International plc (UK), G-III Apparel Group (US), Knights Apparel, Inc. (US), Ralph Lauren Corporation (US), Nike Inc. (US).
The sports footwear category dominated the market in 2022.
The non-store based had the most significant market share.
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