The global athletic footwear market revenue was US$ 114.7 billion in 2021. The athletic footwear market revenue is forecast to reach US$ 175.0 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.6% during the forecast period from 2022 to 2030.
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The term athletic footwear refers to shoes designed for sport and other outdoor activities. Athletic shoes are those for running, basketball, tennis, and others, but they usually exclude shoes for sports such as football (soccer) and rugby. Rubber soles typically accompany shoes made of flexible material. The original design of athletic shoes was simple, but manufacturers have since adapted them for numerous sports. The use of athletic shoes has also expanded to the casual market, and young people are especially fond of them. The equipment and clothing that an athlete uses are part of their gear, including athletic footwear. There are specific levels of cushioning, flexibility, stability, traction, and durability in athletic shoes. A cushion reduces the force of impact.
Factors Influencing Market Growth
An increasing awareness regarding the health benefits of sports and fitness activities that lowers the risk of diseases such as obesity, depression, diabetes, and others is forecast to fuel the growth of the global athletic footwear market.
During the forecast period, the changing lifestyles of consumers, the rise in disposable income, and the growth of the retail e-commerce industry in international markets will all contribute to the global market’s growth.
As technology advances, new and innovative shoes become available, and people become aware of the importance of wearing the correct type of shoes to prevent muscle injuries, leg injuries, and many others, there is a growing demand for the athletic footwear market.
The popularity of branded athletic footwear among youngsters also influences the market’s growth.
The price of raw materials and the prevalence of fake and brand-copied athletic footwear products may slow down the market’s growth.
Impact Analysis of COVID-19
The COVID-19 outbreak disrupted production activities worldwide, affecting footwear production. The lack of consumer purchases caused by store closures had slowed manufacturing in 2020. Global footwear consumption fell as a result of COVID-19. The postponement of the 2020 Olympic Games in Tokyo and a steep decline in sports activities have directly impacted the athlete footwear industry.
The pandemic has thus compelled footwear companies to turn their attention to e-commerce channels. The trend will likely outline the global athletic footwear market outlook during the forecast period.
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Regional Insights
The Asia Pacific region accounted for the highest shipment volume in the global athlete footwear market and is forecast to continue dominating during the forecast period. The primary reason for this is the large population base and lower average selling price of athletic footwear in the region than in developed economies such as the U.K. and the U.S.
Leading Competitors
The leading prominent companies profiled in the global athlete footwear market are:
Asics Corporation
Adidas group
Puma SE
VF Corporation
Nike, Incorporated
FILA Korea, Limited
New Balance, Incorporated
SKECHERS, Incorporated
K-Swiss, Incorporated
Wolverine World Wide, Incorporated
Other Prominent Players
Scope of the Report
The global athlete footwear market segmentation focuses on Type, End-User, Distribution Channel, and Region.
Segmentation based on Type
Sports shoes
Tennis Shoes
Soccer Shoes
Basketball Shoes
Cricket Shoes
Others
Running and walking shoes
Hiking and backpacking shoes
Aerobic and gym wear shoes
Segmentation based on Distribution Channel
Hypermarkets/Supermarkets
Specialty Stores
Brand Outlets
Online Channels
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Segmentation based on End-User
Men
Women
Kids
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions resolved through this analytical market research report include:
? What are the latest trends, new patterns, and technological advancements in the athletic footwear market?
? Which factors are influencing athletic footwear market over the forecast period?
? What are the global challenges, threats, and risks in athletic footwear market?
? Which factors are propelling and restraining athletic footwear market?
? What are the demanding global regions of the athletic footwear market?
? What will be the global market size in the upcoming years?
? What are the crucial market acquisition strategies and policies applied by global companies?
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