A new report by Transparency Market Research estimates the global sports merchandise market will reach $48.17 billion by 2024.
The value for the market was $27.63 billion as of last year. The estimated 6.4% CAGR growth is projected based on a growing consumer base and improved economic conditions across countries like India and China.
North America dominated the market in 2015 with about 54% of the market’s revenues. Major League Baseball and the National Football League account for almost 50% of North America’s licensed sports merchandise. — M.Q.