Albany, NY -- (SBWIRE) -- 04/19/2019 -- According to a new market report published by Transparency Market Research titled "Licensed Sports Merchandise Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026," the global licensed sports merchandise market is expected to reach a value of US$ 46,881.6 Mn by 2026. The market is estimated to expand at a CAGR of 4.8% during the forecast period from 2018 to 2026. In terms of volume, the market is expected to reach 1184.9 million units at a CAGR of over 4.1% by 2026. The Asia Pacific licensed sports merchandise market is projected to witness the highest growth during the forecast period.
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With growing consumer preference and huge market potential, the licensed sports merchandise market is expected to witness considerable growth in the coming years. In this report, on the basis of product category type, the licensed sports merchandise market is segmented into sports apparel, sports footwear, sports accessories, toys and videogames or software, domestic and housewares, and others. Others licensed sports merchandise type includes souvenirs, gifts or novelties, consumer electronics, and food and beverages. Based on distribution channel type, the licensed sports merchandise market is bifurcated into e-commerce or online stores and offline stores.
Offline stores are further segmented into departmental stores, specialty stores, and others. Others offline stores segment includes mass stores, supermarkets, and discount stores. Globally, sports apparel type dominates the market in terms of revenue. Sports apparel segment held the largest share in the global licensed sports merchandise market, accounting for more than 30.0% share in 2017. Sports apparel constituted a majority share in terms of revenue in the North America licensed sports merchandise market in 2017 and this trend is expected to continue over the forecast period. The growing number of sporting leagues and their fan base is propelling the demand for licensed sports goods. With the increasing disposable income, most customers are ready to pay extra for licensed sports products to support their favorite sports team and players.
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In terms of licensed sports merchandise product category type, video games or software is the most potential market which is expected to witness significant growth rate during the forecast period due to its growing popularity among consumers of all age groups and also due to strong performance of mobile games. Hence, growth of this particular product category is on the rise and is anticipated to maintain its position during the forecast period from 2018 to 2026.