New York, U.S., May 3, 2022 (GLOBE NEWSWIRE) — Overview of the licensed sporting goods market:
According to a comprehensive research report by Market Research Future (MRFR), “Licensed Sporting Goods Market Insights by Product Type, Price Range, Distribution Channel and Region – Forecast to 2030“, the market is expected to grow at a CAGR of 6.45% during the forecast period of 2020 to 2030.
Licensed items with team players, logos, names of different sports organizations and symbols are licensed sports merchandise. Many sports organizations, sports superstars or sports teams own these artifacts and license the rights to use them in return for a royalty. Due to the rising trend of young people playing outdoor sports like baseball, cricket, and football, and the growing popularity of sports leagues among people in various countries, the market size is increasing over the period. of research.
According to the analysis of the licensed sporting goods market, many major market players in the global market are working to build the market. These main market players are:
- Quiksilver, Inc. (USA)
- Puma SE (Germany)
- Li Ning (China)
- Fanatics, Inc. (USA)
- Adidas AG (Germany)
- Sports Direct International plc (UK)
- Clothing Group G-III (United States)
- Knights Apparel, Inc. (USA)
- Ralph Lauren Corporation (USA)
- Nike, Inc. (USA)
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Due to the growing trend of young population to purchase items such as phone cases, mugs, helmets, balls, key rings and wallets to support their support team, the sporting goods market licensed is expected to expand for the foreseeable future. Additionally, the growing popularity of various domestic and international leagues among the young population would boost the growth of the global market.
Because the majority of the world’s population places a high value on sport, customers are increasingly aware of licensed sporting goods. And, therefore, the sports organization has the option of using advanced advertising types rather than traditional advertising types to reach outdoor sports fans. Due to the quality of the relationship between a sports team and its supporters, a consumer’s purchase intention is likely to increase.
In the current environment, the licensed sporting goods industry is benefiting from massive global marketing initiatives. The growing e-commerce activity is playing the most crucial role in the expansion of the licensed sporting goods market. Consumers love online shopping as it allows them to select their favorite products with more quality and convenience at lower cost.
One of the major barriers to expanding the licensed sporting goods market could be the availability of counterfeit products in many parts of the world. In addition, the expansion of the market at the expected maturity can be hindered by the increase in the prices of the goods. Expansion of the licensed sporting goods market is expected to be hampered by the coronavirus outbreak, which has hampered investment and disrupted the supply chain. Additionally, one of the biggest hurdles for the industry in the age of research may be the strict government laws governing licensed sports products.
Browse the in-depth market research report (90 pages) on licensed sporting goods: https://www.marketresearchfuture.com/reports/licensed-sports-merchandise-market-7068
Producers of the non-essential product brand are expecting a tough time due to the Covid-19 outbreak. Among them, one of the most important merchandising categories is clothing, which has always been a priority for consumers. However, the unprecedented global pandemic is expected to have a significant influence on the licensed sporting goods market. During the outbreak, people’s attention shifted from non-essentials to necessities such as groceries and food.
Manufacturers and market players, on the other hand, have used deep discounts and low prices to sell it. In today’s environment, for example, the market is accelerating by implementing new ideas and methods.
The current global licensed sporting goods market has been categorized by price range, product type, region, and distribution channel, according to the licensed sporting goods market research.
Based on the price range, the market has been divided into two categories: economy and premium. This segment with two price ranges is based on the usefulness and quality of the product.
The licensed sporting goods market has been segmented into sports shoes, sportswear, video games, sports accessories & toys and others based on product type. Among all product types, sports accessories and apparel are expected to gain a larger market share during the study period.
In terms of distribution channel segmentation, the market is divided into non-store and in-store. Specialty stores, hypermarkets and supermarkets, and others are divided into the in-store division.
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Due to strong consumer spending power and high standard of living in the region, the North America licensed sporting goods market is expected to dominate the global market throughout the study period. Also, due to the great popularity of sports leagues such as National Hockey League (NHL), National Basketball Association (NBA), Canadian Football League (CFL) and National Football League (NFL) in the region, the market size is likely to grow.
Apart from this, the Asia-Pacific regional market is expected to grow at the fastest rate over the assessment period, owing to the increasing interest of the Asia-Pacific people in sports such as than cricket and football. Additionally, the popularity of licensed sports accessories such as umbrellas, seat covers, cushions, phone cases, game cards, wallets, mugs and keychains in developing countries of Asia-Pacific such as India, Japan and China is expected to drive the market growth. In addition, Juventus Football Club Asia-Pacific marketed licensed products such as car accessories, apparel, luggage and electronics in countries such as China, Japan and Australia to demonstrate its presence in the region.
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