Brand licensing is a billion dollar business globally, with retail and related revenue rising by 3.3% to $271.6bn last year, according to the Licensing Industry Merchandisers' Association (LIMA). Royalty revenue generated by licensed merchandise and services rose 2.6% to $14.5bn. UBM hosts Brand Licensing Europe (BLE) in London annually, which, this year, celebrated its 20th anniversary. The theme celebrated food and beverage due to the sector's rapid growth and constant reinvention within licensing. BakeryandSnacks goes behind the scenes to find out how licensing works and which producers are making the most of the licensing opportunities.