Football merchandise plays a crucial role in the sport’s global culture, and as a result, it has become a thriving industry. According to data from Sportscasting.com, the football merchandise sector is expected to reach $6.65 billion in revenue by 2024.
Growth to slow down in the coming years
The football merchandise market has seen steady growth in recent years. As per the data from Statista, the industry is projected to generate $6.65 billion in 2024, indicating a 3.1% increase from the $6.45 billion earned in 2023. This annual increase follows a trend of gradual growth, which is expected to continue, but at a slower rate, in the near future.
When we look back to the 2017 numbers, the industry generated $5.39 billion, and while it grew in the subsequent years, the COVID-19 pandemic negatively impacted the market in 2020 and 2021. However, since 2022, the industry has been recovering and returning to its growth trajectory. From 2017 to 2024, revenue will have increased by 23.4%.
The report also predicts that the market will grow at a compound annual growth rate (CAGR) of 2.2% from 2024 to 2029, with revenues expected to reach $7.41 billion by 2027.
USA and China are the biggest markets for football merchandise
While football enjoys massive popularity in Europe and South America, the largest markets for football merchandise are elsewhere. The United States currently leads the way in the industry and the country is expected to generate $1.38 billion in 2024. China might not have managed to cultivate a strong local league despite strong efforts, but it has developed a huge market for merchandise of European teams. The Asian country follows closely behind the United States, with an estimated revenue of $1.04 billion.
The United Kingdom, home of the Premier League, ranks only third, projected to generate $484.6 million. It is followed by yet another European nation in Spain, the home of football giants Real Madrid and Barcelona, at $396.9 million. Japan rounds out the top five with an expected $326.5 million in revenue.
