From 2023 to 2031, Football Merchandise Market Sales Are Expected to Flourish at a CAGR of 6.5 | TMR Study
An increase in football fan base worldwide and a rise in popularity of professional football leagues and tournaments are projected to boost the football merchandise market size in the near future
Wilmington, Delaware, United States, Aug. 11, 2023 (GLOBE NEWSWIRE) -- *Transparency Market Research Inc. - *The global football merchandise market is slated to be valued at US$ 12.13 billion in 2023 and is expected to rise at a *CAGR of 6.4%* until 2031. By the end of the 2023 to 2031 forecast period the market is expected to reach a valuation of US$ 20 billion.Social media is playing a vital role in the football merchandise market growth. Social media platforms have become instrumental in promoting football merchandise. Various clubs, players, and leagues are relying on social media to reach a wider audience and promote their products. Vendors in the global football merchandise industry are offering personalized and customized products to broaden their customer base.
Fans are more enthusiastic about supporting their favorite teams, which is driving the sales of jerseys, scarves, caps, and other football-related accessories. Real Madrid is one of the top football clubs with around 400 million fans across the globe.
According to Sports Brief, in 2022, Manchester United was the team with the most sold sports jersey in the world. The team sold around 3.22 million jerseys through their distribution partner Adidas. Thus, rise in football fan base worldwide is propelling the football merchandise market development.
Football clubs are focusing on fan engagement initiatives including events, meet-and-greets, and fan groups. These events encourage a closer bond between fans and their favorite teams, which leads to increase in the demand for football merchandise.
In October 2022, Manchester United Club conducted a fan event in Kolkata, India. The event was named #ILOVEUNITED. Hence, increase in number of football events is boosting the football merchandise market progress.
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*Market Snapshot:*
* Report Coverage* * Details*Market Revenue US$ 11.4 BnEstimated Value US$ 20.0 BnGrowth Rate - CAGR 6.5% Forecast Period 2023-2031No. of Pages 120 PagesMarket Segmentation By Product Type, By Price, By End-user, By Distribution ChannelRegions Covered North America, Europe, Asia Pacific, Middle East & Africa, South AmericaCompanies Covered Adidas AG, BasicNet S.p.A, Epic Sports, Inc., Fanatics, Inc., Joma Sport S.A., Macron S.p.A., New Balance Athletics, Inc., Nike Inc., Puma SE, Under Armour Inc.
*Key Takeaways from the Market Study*
· The global football merchandise market valuation amounted to US$ 11.4 billion in 2022
· From 2022 to 2023, a y-o-y growth rate of 6.4% was expected for football merchandise sales
· By product type, football accessories such as gloves, footballs, and shin guards, are expected to register high demand
· Sales of football clothing, including jackets, joggers & track pants, and t-shirts, are also expected to incline significantly
· By distribution channel, online sales of football merchandise are expected to grow substantially
· The football merchandise market is likely to grow by 1.6x from 2023 to 2031
*Football Merchandise Market Growth Drivers and Trends*
· The prominence of sports activities, owing to the health and wellness trends, the increasing influence of social media, celebrity endorsement, and the rise in the number of international sports events, encourage consumers to enter into sports activities like football. This increasing number of sports enthusiasts is expected to boost the demand for the football equipment market worldwide.
· Football leagues and tournaments in various regions are playing a pivotal role in promoting the sport as well as sports accessories such as jerseys, track pants, joggers, shorts, keychains, mugs, and caps. Celebrity players are influencing their fans to buy their named jerseys. For instance, in 2018, Cristiano Ronaldo's merchandise worth US$ 60 million was sold in 12 hours.
· Establishment of professional football leagues in various countries is fueling fan engagement and merchandise sales. Leagues, such as the English Premier League, La Liga, Bundesliga, and Serie A, have a substantial impact on the football merchandise market.*Explore Our Safe & Secure Payment Options for Quick Buy:* https://www.transparencymarketresearch.com/checkout.php?rep_id=82901<ype=S
*Regional Profile of the Football Merchandise Market*
· According to the latest football merchandise market forecast, Europe is projected to account for largest share from 2023 to 2031. Increase in number of football clubs and growth in fan base are driving the market dynamics of the region. The UEFA European Championship is one of the biggest football events worldwide.
· Rise in popularity of football events, such as the Indian Super League and Santhosh Trophy, is boosting the market trajectory in Asia Pacific. The popularity of football is growing in India in recent years, owing to surge in media exposure, improved infrastructure, grassroots growth, and foreign influence. This, in turn, is anticipated to propel market statistics in the Asia Pacific in the next few years.
*Competitive Landscape*
Most football merchandise companies are investing significantly in promotional activities to expand their global presence. They are also adopting various strategies, such as mergers & acquisitions, partnerships, and collaborations, to increase their market revenue. Transparency Market Research has profiled the following football merchandise manufacturers in its report:
· Adidas AG
· BasicNet S.p.A
· Epic Sports, Inc.
· Fanatics, Inc.
· Joma Sport S.A.
· Macron S.p.A.
· New Balance Athletics, Inc.
· Nike Inc.
· Puma SE
· Under Armour Inc.
*Key Market Developments*
· In *July 2023*, *Art of Football* launched a collection for the Women’s World Cup. The brand aims to convert football fan culture into a lifestyle and celebrate the women’s game.
· In *March 2023*, *Adidas AG* launched its Football Icons Jersey Collection featuring throwback replica designs for some of its leading clubs and federations
· In *September 2022*, *Nike Inc.* launched its new football jerseys for national teams for the 2022 Qatar World Cup. The jerseys were made from 100% recycled polyester.*We Offer Customized Report, Click Here*
*Key Segments Covered*
*Product Type*
· Accessories
· Gloves
· Shin Guards
· Footballs
· Others (Caps, Bottles, etc.)
· Clothing
· T-shirts and Tops
· Jackets
· Joggers & Track Pants
· Others (Shorts, Hoodies, etc.)
· Toys & Games
· Tabletop Football
· Football Goal Set
· Stadium Puzzle
· Others (Hover Football, Keychain, etc.)
· Others (Footwear, etc.)
*Price*
· Low
· Medium
· High*End-**U**ser*
· Men
· Women
· Kids*Distribution Channel*
· Online
· E-commerce Websites
· Company-owned Websites
· Offline
· Supermarkets/ Hypermarkets
· Specialty Stores
· Other Retail Stores*Region*
· North America
· Europe
· Asia Pacific
· Middle East & Africa
· South America*Read More Related Reports:*
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