With the millennial generation becoming more wealthy, the demand for sports collectibles is on the rise. The growing presence of Millennials and the growing wealth of Baby Boomers in the market have also contributed to the booming market. In addition, overseas buyers are increasingly interested in game items and autographed memorabilia. These factors, along with the availability of various online auction sites, have paved the way for the sports collectibles market to grow to a $200 billion industry.
Although the sports memorabilia market has experienced a slowdown since 2011, it is still growing steadily. The growing popularity of sports collectibles is largely due to the global economic crisis that gripped the world in 2011. With this growth, the value of sports memorabilia is predicted to reach $12 billion by 2021, a figure which is likely to continue to increase in the coming years. There is no doubt that the millennial generation is passionate about their favorite sports, and the memorabilia industry is expected to continue to grow during that time.
Sales of sports collectibles in Europe are expected to increase by nearly 10% by 2021, as the number of collectors grows. In addition, the demand for activity-employed items is expected to grow by 28.4% by 2021, according to Goldin. Meanwhile, the Middle East region is expected to see a 29.8% rise during the forecast period. Therefore, the overall market for sports collectibles is likely to grow at a faster pace than other parts of the world.