LONDON, Nov. 10, 2022 /PRNewswire/ — The Global Athletic Footwear Market was worth USD 67.5 Billion in 2021 and is expected to reach USD 95.6 Billion by the end of 2028, with a CAGR of 5.1% between 2022 and 2028.
The global athletic footwear market will see growth in the coming years as the Athletic Footwear Size grows with the enthusiasm that different forms of sport have gained and the awareness which is there with regards to the health benefits of fitness and sporting activities and the retail e-commerce sector flourishing like it is worldwide along with the rise in the level of disposable incomes of the consumers which is going to be a major trend that will enhance growth in the market.
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Athletic Footwear Market: Market Scope
The youth are keen on adopting a lifestyle which is healthier and are therefore participating in the sports and other such related activities. Similarly, there are people who have realized that sports as well as fitness activities help in the ensuring of good health and risk the chronic disorders like diabetes, depression among the other diseases.
Athletic Footwear Market: Competitive Analysis
Some of the major companies in the global athletic footwear market are ASICS Corporation, Fila Inc., Under Armour, Inc., Lotto Sport Italia S.p.A and New Balance Athletics, Inc. These are companies which face a challenge in making their products more environment friendly and they are working hard on trying to do so without compromising on their profit levels.
Athletic Footwear Market: Segmentation Analysis
The running shoe segment has dominated the global athletic footwear market in the last few years and that is because it is a product which can be used as a daily product in many ranges of price which range from the athletic shoes to the high and luxury ones. The running shoes also include the shoes which are needed for advanced running, training, road running, track running as well as racing among the other sports.
The sport shoe segment is one which is used by people who belong to different walks of life and is a major part of the growth of the global athletic footwear market. There is also a growth in the trekking shoes. This is a growth which is taking place due to the growth of the traveling market and the trend for adventure travel in the coming years. This growth has been taking place in many regions because of the trend for travelling which has become exceedingly popular with social media and travel bloggers talking about travel.
This is going to further increase int eh post coronavirus world. It was the men’s segment which held the greatest share in revenue in the market but it can be said that the woman’s segment is also seeing an increase particularly where it was unexplored in the past with the different markets seeing a growth such as the Asian markets where this is a major growth segment as women have started to work a lot more in the recent past. This is where the segment will be equally matching the men’s segment.
By Distribution Channel
- Traditional Wholesale
- Direct to Consumer
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Athletic Footwear Market: Regional Analysis
Athletic footwear market regional analysis suggests that Asia Pacific is going to dominate this market in terms of revenue share. The region is going to further continue leading the market in the coming years. The region is going to see the highest growth rate in the coming years. There is a rise in the levels of disposable income and a growth in the penetration of the e-commerce which will play a major role in the growth of the global athletic footwear market.
There are companies which now work on promotional tactics such as trying to tie up with the popular events related to sports such as the ICC cricket world cup which is a major tournament for people living in India. This gives them awareness and helps them in catering to a large base of customers who are now able to purchase the products that are endorsed by their favorite cricketers. The rising levels of diabetes too have created a need for fitness and the global athletic footwear market will see growth in the coming years too.
Athletic Footwear Market: Key Drivers
The global athletic footwear market growth was stunted during the coronavirus period as a major business saw a decline particularly in the teens segment because there were restrictions imposed all over the world on outdoor activity and it was important that the spread of the virus was curtailed by the use of lockdowns.
Upon looking at some of the specific categories, the ones which pertain to the spring sports where the hardest hit because they had to be cancelled or even postponed in some cases. There were others which were really affected as the running footwear sales saw a massive dip along with the skate shoes in certain parts of the world.
On the brighter side however, it is expected that the size of the market is going to increase after the pandemic because of the awareness that has come for a healthier lifestyle. There is an increase in the demand for shoes which can be suited for different appropriate activities for the prevention of the muscle injuries, leg injuries and also knee pains and hip and back pains. Resultant, the demand for the athletic shoes will be rising at a sharp level in the coming years.
The demand is increasing further at a rapid rate due to their use in many different conditions. The products are being used by many consumers such as the athletes, climbers, and others. Further, there are many different fitness-conscious consumers, people who go to the gym and people who also use them for a regularly mild fitness routine. Different kinds of athletic footwear that is there in the market is available and also there from the high-quality raw types like leather, plastic, and foam.
Athletic Footwear Market: Key Trends
The global athletic footwear market trends suggest that the increase in the environmental concerns is going to restrain the growth of the market. There are active measures being taken up by the environmental groups towards the pollution and that will be a major reason for the restrain in the market as this is an industry which is responsible for the rivers and environment being polluted. There are reports such as Dirty Laundry which are a major cause for concern for this market.
On Special Requirement Athletic Footwear Market Report is also available for below region:
- U.S, Canada
- Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
- South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
- Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
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