The global licensed sports merchandise market is growing at four per cent. The increasing number of fitness initiative programs and campaigns on social networking sites are creating awareness about the importance of fitness and health. This is encouraging consumers to remain fit and use social media fitness apps and socially integrated fitness trackers. Growing participation in various sports and fitness activities is leading to the expansion of the global licensed sports merchandise market.
The apparel and footwear segment has a significant market share, and this trend is expected to continue. Factors such as increased participation in sports and physical training activities will play a significant role in helping the apparel and footwear segment maintain its market position. The increasing popularity of athleisure is expected to have a positive impact on the overall market growth. Athleisure outfits are made from materials that provide odor reduction, offer moisture-wicking, and have stretchability properties. This is encouraging vendors to focus on innovations and improvements in design and quality of athletic outfits, which will make them more breathable, lightweight, and waterproof.
However, rising labor cost and fluctuating raw material prices, environmental impact of production of sports merchandise, and stringent regulations for procurement of leather may hamper the growth of the licensed sports merchandise industry.