In 2020, the global licenced sports apparel business is expected to be worth $30 billion. Sports apparels such as cricket kits, jerseys, caps, and shoes have grown in popularity as a result of the growing popularity of the FIFA football world cup and the T-20 World cup. The market for licenced sports merchandise is expected to exceed US$ 59 billion by 2031, with a CAGR of 7% during the forecast period.
Between 2016 and 2020, the market increased by 6% at a compound annual growth rate (CAGR). Due to the installation of a global lockdown, key sporting events were either postponed or cancelled, resulting in a huge drop in sales during the new coronavirus epidemic. Restrictions have lessened starting Q4 2020, as vaccination campaigns to inoculate communities have ramped up.
Key Segments Covered
- Licensed Sports Apparel
- Licensed Sports Footwear
- Licensed Sports Accessories and Toys
- Licensed Sports Video Games & Software
- Licensed Sports Domestic and House Wear
- Other Licensed Sports Merchandize Products
- Online Licensed Sports Merchandise Sales
- Licensed Sports Merchandise Sales through Offline Stores
- Licensed Sports Merchandise Sales through Department Stores
- Licensed Sports Merchandise Sales through Specialty Stores
To expand their market footing, prominent firms are using creative measures such as ground-breaking marketing tactics, technical developments, mergers, and acquisitions.
Adidas AG agreed to sell its failing Reebok business to Authentic Brands Group Inc. for up to 2.1 billion euros ($2.5 billion) in August 2021, bringing yet another well-known brand to the buyer’s growing list of consumer brands.
WinCraft, a licenced sports clothing firm, was acquired by Fanatics in December 2020. Because WinCraft specialises in hard products like sports-themed clocks and banners, fans will now have a stronger presence with non-apparel merchandise.
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