The latest report on the Sneaker Market is 200 pages long and includes a number of tables and figures. This report covers the period from 2023 to 2031 and offers valuable insights into the market landscape.
The “Global Sneaker Market” report offers comprehensive insights into factors affecting demand, growth, opportunities, challenges, and limitations. It covers global and regional industry dynamics, including research & development, new product launches, and responses from leading players in both global and local markets. The report provides visual representations and regional breakdowns of the Sneaker Market.
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.
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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.
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.
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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.
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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
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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
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Report Overview:
This research offers a comprehensive exploration of the emerging trends poised to shape the future business landscape. It delves deep into the pivotal factors driving the growth of the Sneaker market over the projected period. Furthermore, the report sheds light on strategic initiatives undertaken by leading industry players to fortify their market positions.
Market Dynamics:
Encompassing a global perspective, this study presents insights into the influential entities within the worldwide Sneaker market. It encompasses contact details, sales figures, and global market estimates. The research draws from reputable sources and institutions, aggregating a wealth of information and insightful analysis pertaining to the global Sneaker market.
Marketing Insights:
The study furnishes essential facts and statistics relevant for marketers, consultants, and decision-makers navigating the global Sneaker market landscape. With comprehensive regional breakdowns, this research offers a vital resource for newcomers venturing into the global Sneaker market. It encapsulates indispensable insights extracted from the Sneaker Market domain, facilitating informed decision-making processes.
This report covers several key questions related to the global Sneaker market, including:
- What can be expected for the Sneaker market in the next decade?
- What are the primary drivers of growth in the global Sneaker market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Sneaker market vary based on the size of the end market?
- What is the breakdown of Sneaker by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Sneaker market?
Our most recent research report showcases the thriving expansion of the global Sneaker Market and offers in-depth insights into the projected market size, share, and revenue until 2031.
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