Report Ocean introduces a fresh report examining the Global Sneaker Market, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
Obtain a comprehensive report on the Global Sneaker Market, which includes a full table of contents, over 200 tables and figures, and charts. The report provides precise information on the market before and after the COVID-19 outbreak, segmented by region.
Global Sneaker Market is valued at approximately USD 131.1 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.3% over the forecast period 2022-2029. Sneakers sometimes also known as trainers, athletic shoes refer to shoes designed to be worn during sports activity as well as physical exercises, but now a days sneakers are widely used as casual wear shoes. Sneakers are generally made from synthetic fabric with rubber soles. The application of rubber soles makes sneaker lightweight and noise free as compared to other heard sole-based shoes. Consumers aged between 15 to 34 are major users of Sneaker Shoes. The growing expansion of global footwear industry and increasing penetration of e-commerce channels as well as strategic initiatives from leading market players are key factors driving the market growth.
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According to Statista – as of 2020, the revenue of global footwear industry is estimated at USD 381.90 billion, and the market revenue is protected to witness CAGR of 5.88% between 2022 & 2027 to reach USD 508.18 billion by 2027. Also, rising emergence of private label footwear brands and growing penetration of social media channels in developing regions are anticipated to act as catalyzing factors for market growth during the forecast period. However, rising concerns over environmental degradation as well as stringent government regulations towards rising pollution levels would impede the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Sneaker Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is the leading region across the world in terms of market share owing to factors such as presence of leading market players as well as increasing inclination of teenage population towards sneaker shoes in the region. Whereas, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising penetration of e-commerce platforms as well as growing emergence of low-cost private label footwear brands in the region would offer lucrative opportunities for the market over the forecast period.
Major market players included in this report are:
- Nike Inc.
- Adidas AG
- Under Armour Inc.
- Puma
- Reebok
- Hanesbrands Inc.
- Champion
- New Balance
- Converse
- Benetton Group S.r.l.
Recent Developments in the Market:
New Product Launch: In August 2022, France based fashion house Louis Vuitton rolled out a new sustainable unisex sneaker. These new sneakers are made from 90 percent recycled and organic materials. In addition, the sole is made from 94 percent recycled polyurethane, and the upper part is made from recycled polyester and a corn-based plastic material. This new launch is intended to strengthen the sustainable sneakers offering of the company.
Acquisition, In June 2022, Italy based ABL Group, a leader in Bags & Luggage products acquired 80% stake in sneaker brands Tonakai. This acquisition would enable the company to expand its portfolio of Sneakers in Europe and other international Markets.
Acquisition, In December 2021, Nike announced acquisition of maker of NFT’s Sneakers for Metaverse named RTFKT Inc. This acquisition intended to extend Nike’s digital footprint and to influence the growth of its NFT Projects.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product Type
Low-Top Sneakers
Mid-Top Sneakers
High-Top Sneakers
By End User
Men
Women
Kids
By Price Point
Luxury
Economic
By Category
Private Label
Branded
By Distribution Channel
Supermarket/Hypermarket
Specialty Stores
Brand Outlets
E-commerce
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Reasons to Consider Purchasing the Sneaker Market Report:
Comprehensive Market Insights: Delve into the depths of the Sneaker Market Report to gain an all-encompassing and meticulous analysis of the market landscape. Uncover details such as market size, share, trends, and growth catalysts, which provide invaluable perspectives on both the present market scenario and its promising future prospects.
Reliable Projections: Rely on the report’s dependable forecasts and projections, which are underpinned by rigorous research methodologies, insights into industry expenditures, and assessments of market expansion rates. These foresights empower businesses to make well-informed decisions and chart out effective strategies for the times ahead.
In-depth Competition Analysis: Equip yourself with an extensive evaluation of key market players, their array of products, and the strategies they employ. This comprehensive understanding arms businesses with the knowledge needed to not only comprehend their rivals but also to craft strategies that position them ahead in the dynamic market arena.
Clear Market Scope and Segmentation: Gain clarity on the broad expanse of the market through the report’s clear delineation of market scope. With detailed insights into diverse market segments and their growth potential, businesses can discern and capitalize on opportunities that align with their objectives.
Insightful Regional Examination: Assess the market’s performance across different regions, enabling enterprises to pinpoint lucrative markets and tailor their approaches accordingly. With region-specific insights, businesses can adapt strategies that resonate with the unique dynamics of each area.
Evaluation of Industry Technology: Grasp the pulse of technological progress within the Sneaker market. The report dissects cutting-edge advancements and trends, providing businesses with a window into emerging technologies that have the potential to reshape the industry.
Dynamics of Supply and Demand: Acquire a profound comprehension of supply-demand dynamics. This understanding empowers businesses to optimize production, distribution, and inventory management processes, resulting in enhanced operational efficiency.
Informed Investment Decision Making: Leverage the report’s critical information and data-driven insights to facilitate informed investment choices within the Sneaker market. Equipped with this knowledge, businesses can confidently allocate resources to avenues with the greatest potential for returns.
Unveiling Long-Term Growth Avenues: Through the scrutiny of trends and growth stimulants, the report illuminates the enduring opportunities the Sneaker market holds. By identifying these sustainable growth prospects, businesses are poised to set a course for lasting success.
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