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Global Licensed Sports Merchandise Market to Expand at a Healthy CAGR of 7% through 2031

By Supriya Bhor·Published January 24, 2022·Updated January 27, 2022·Business news

Licensed Sports Merchandise Market

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

Competitive Environment

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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