The global licensed sports merchandise market is tipped to hit a projected value of $46.87bn by the year 2026, a five per cent increase on its current estimated value of $31.07bn.
This is according to the latest from Data Bridge Market Research, an insights firm with an eye on the global licensing space.
The report has highlighted that the five per cent growth in the global market will be led by “greater consumer adoption and preference” of sporting activities and sport-based goods worldwide.
It also arrives as the Women’s Football World Cup currently sets new spectator records in France, and as the world prepares for the upcoming 2020 Tokyo Olympics, placing sports – including skateboarding for the first time – on the global stage.
Consumer products areas predicted to see a positive impact from the growth in the licensed sports merchandise market, according to the same report, are apparel, footwear, toys, and accessories.
The US outfit has recently made a major play for the sports market, having recently completed its acquisition of Sports Illustrated, alongside a number of sports lifestyle brands, including Volcom.
The report has also indicated that while looking at growth over the next seven years, the global licensed sports merchandise market is a “highly fragmented one,” in which the major players have recently adopted strategies such as expansions, joint ventures and acquisitions to gain a better foot hold within.
Meanwhile, according to Licensing International’s recently released fifth Annual Global Licensing Survey, global retail sales of licensed merchandise and services hit $280.3 billion in 2018, a 3.2 per cent increase on the $271.6bn generated in 2017.
Sports licensing was placed as the fourth biggest market, with a 9.9 per cent share.