The growth in the marketing of different tournaments and sporting events in the major regions of the world is expected to create promising growth opportunities in the licensed sporting goods market in the forecast period from 2019 to 2027, says a research report by Transparency Market Research (TMR).
The study highlights that the global licensed sporting goods market is expected to grow at a CAGR of 6.5% during the forecast period 2019-2027.
The research paper gives a panoramic view of the licensed sporting goods market. Thus, it gives readers access to reliable data and analysis on different facets such as drivers, restraints, growth avenues, trends, and threats in the Licensed Sporting Goods market. Moreover, the study also offers detailed statistics on the Licensed Sporting Goods market volume, share, production, sales, and revenue.
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The presence of stringent regulations by the regulatory authorities regarding sports kits is driving the sales in the market
Various sports related regulatory bodies around the world have been forced to follow strict protocols regarding sports kits, which include clothing as well as other merchandise. Accordingly, players must receive licensed sporting goods. This factor creates significant growth opportunities for companies operating in the global licensed sporting goods market.
In recent years, official sponsors of many events promote their names and logos on sporting goods, including t-shirts, sports equipment and player kits. This is one of the major trends creating new avenues for expansion in the licensed sporting goods market.
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Presence of well-established players makes competition levels high
Nike Inc., VF Corporation, Adidas AG, Fanatics, Inc., G-III Apparel Group, Ltd., Puma SE, Hanesbrands Inc., Sports Direct International plc, DICK’S Sporting Goods Inc. and Under Armour, Inc. are a few -ones. of the key players operating in the global licensed sporting goods market.
The presence of numerous well-established players shows that the competitive landscape in the licensed sporting goods market is quite fierce. As a result, market players are increasingly participating in different strategic moves. For example, several companies in the market enter into alliance agreements with sponsors of sporting events.
Digital platforms and e-commerce websites drive sales opportunities in the licensed sporting goods market
With increased use of internet and smartphones in major regions of the world, players operating in the licensed sporting goods market are witnessing notable growth in their sales numbers. Due to the emergence of the COVID-19 pandemic, a large consumer base today is inclined to purchase products through online platforms, including e-commerce and fashion sites. This trend is expected to drive the expansion of the global licensed sporting goods market in the coming years.
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North America: lucrative market for gamers
Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America are key regions for the global licensed sporting goods market. Among them, North America is one of the major market regions.
The North American licensed sporting goods market is expected to grow owing to growing consumer demand for licensed sporting goods and growing popularity of sports leagues in the region.
Segmentation of the global licensed sporting goods market
The report analysts have carried out a segmentation of the global licensed sporting goods market based on numerous important aspects such as product type, distribution channels and region. Based on product type, the licensed sporting goods market is categorized into sports shoes, sports apparel, video games or software, sports accessories and toys, housewares and housewares, and others. In terms of distribution channel, segmentation of the licensed sporting goods market is done into several parts such as e-commerce or online stores and offline stories.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Licensed Sporting Goods Market (Commodity: Sportswear, Sports Shoes, Sports Accessories & Toys, Video Games, Home & Household Goods , Others; Distribution Channel: E-Commerce or Online Stores, Offline Stores) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019-2027.
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