LONDON--(BUSINESS WIRE)--The licensed sports merchandise market size is expected to post a CAGR of over 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The rising awareness about the benefits and importance of living a healthy lifestyle is encouraging consumers to participate in various sports and fitness activities that can keep them physically and mentally fit. In addition, the availability of social media fitness apps and fitness trackers is encouraging consumers to maintain their physical fitness. Thus, increasing awareness about fitness activities will fuel the growth of the licensed sports merchandise market.
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As per Technavio, the increasing popularity of athleisure products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Licensed Sports Merchandise Market: Increasing Popularity of Athleisure
Athleisure is one of the major trends in the fashion industry and is playing a major role in driving the growth of the licensed sports merchandise market. There is an increasing demand for sports leisure apparel and footwear, including yoga pants, sweatpants, and gym tanks that can be worn at workplaces and school. Athleisure outfits are made from materials that provide odor reduction, offer moisture-wicking, and have stretchability properties. Moreover, vendors in the market are increasingly focusing on product innovation and improvements in design and quality of athletic outfits which will make them more breathable, lightweight, and waterproof.
“Apart from the increasing popularity of athleisure, other factors such as the customization of sports merchandise, and expansion of distribution network will have a significant impact on the growth of the licensed sports merchandise market value during the forecast period,” says a senior analyst at Technavio.
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Licensed Sports Merchandise Market: Segmentation Analysis
This market research report segments the licensed sports merchandise market by distribution channel (offline and online), product (apparel and footwear, accessories and gifts, toys and games, and others), end-users (men, women, and children), and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the licensed sports merchandise market in 2018, followed by Europe, APAC, South America, and MEA respectively. The growth of the licensed sports merchandise market share in North America can be attributed to several factors such as the presence of a well-established sports industry, high prevalence of obesity and diabetes, and the increasing participation in sports activities in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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