The global licenses sports merchandise market, valued at $33.5 billion in 2022, is projected to grow at a 4.9% CAGR by 2030, according to Grand View Research. Key drivers include a rising sports enthusiast population and the expansion of online retail, making sports fandom stretch further than ever before and seeing increased accessibility to licensed consumables. Popular licensed products, such as apparel and accessories featuring sports team logos, attract fans globally, not just match-going enthusiasts, as sports fashion continues trending towards more mainstream appeal.

Aided by Netflix’s “Drive to Survive,” Formula one continues to thrive, with over 750 million fans worldwide, according to a study by Nielsen Sports. With quick and snappy content being a big appeal to the Y2K generation, social media has also brought new fans to the sport. Whereas traditionally a race would have been viewed over two or three hours on a Sunday, highlights packages can now be consumed in a couple of minutes on YouTube.