Licensed Sports Merchandise Market Size, Share, Growth Analysis, By Product(Sports Apparel (T-Shirts and Tops, Sweatshirts and Hoodies), By Distribution Channel(Online and Offline), By End User(Men, Women) - Industry Forecast 2024-2031

Global Licensed Sports Merchandise Market size was valued at around USD 30.8 Billion in 2021 and is expected to rise from USD 32.65 billion in 2022 to reach a value of USD 52.04 billion by 2030, at a CAGR of 6 % during the forecast period (2022–2030).

The rising number of sports fans, coupled with rapid rate of urbanization and the growth of the online retail sector, are some of the key reasons propelling the market's progress. The number of local and international sports leagues has increased significantly, which has also aided market expansion. Consumers are increasingly choosing online platforms over traditional retailing channels because they offer a large assortment of products and a speedy buying experience. Customers can get genuine premium products on these platforms for reasonable pricing. Sports enthusiasts are becoming more and more interested in officially licensed sports apparel, including tops, sweatshirts, hoodies, jackets, t-shirts, bottom wear, caps, and hats, among other items, that bear the emblems of well-known sports teams. Increased investment in sports licensing and expanding consumer spending power further fuel Additionally, increasing consumer expenditure power and investments in sports licensing are driving industry expansion.

The market, however, is anticipated to eventually revert to pre-pandemic levels as individuals resume their usual lives and take part in a variety of sporting activities. During the foreseeable period, a favorable effect is anticipated.

Sports equipment, toys and accessories for sports, video games, clothing, and footwear are all covered under licensed sports merchandise. For goods sold with their trademarked logos, graphics, and other branding, sports entities earn a set amount of royalty payments from licensing companies. Wearing fully licensed sports apparel and sports accessories is popular among fans of both sports and video games. At premium and affordable price points, the market offers breathable, lightweight, and waterproof sports clothing and accessories. More customers are making a range of purchases from internet stores.

The commercialization of sporting events, competitions, and tournaments has led to heavy investments on both traditional and e-sports. Due to the significant growth in popularity of endurance activities such as running, swimming, and cycling, the market for officially licensed outdoor and sportswear is expanding at a notable rate. To promote sports, both public and commercial companies make significant investments in sporting events. Additionally, the growth of sports leagues across the globe has boosted sales of officially licensed gear in the last couple of years. Furthermore, female engagement in sports has broadened the market's reach.