Global Athletic Footwear Market Overview
Athletic footwear is heading towards becoming a trillion-dollar industry. The industry has witnessed sharp growth in the last few years driven by the ever-increasing popularity of sports and fitness, the rising income levels, and amending lifestyles. Increasing focusing on sports promotion, training, infrastructure, and exports of sports goods, including sports apparel, footwear, and accessories, stimulates growth further. The ever-increasing popularity and interest in sports such as football, hockey, and tennis have contributed to the growth of the athletic footwear market. Factors encouraging the growth athletic footwear market revenue size includes growing awareness about healthy and active lifestyles, rising demand for comfortable footwear, and increasing demand for innovative footwear designs and technology.
According to Value Market Research, the global athletic footwear market size was valued at about USD 76.3 billion in 2020 and is estimated to grow at a CAGR of around 5.5 % during the forecast period 2021 to 2027.
The athletic footwear market has changed significantly in the last two decades in terms of material and design. Athletic footwear has emerged as more safe and attractive. With modern manufacturing practices through technology and innovation, the world of athletic footwear is continually making advancements in materials and performance to improve fit and safety. People are becoming more aware of the significance of using appropriate shoes for sports activities to prevent injuries. Moreover, rising government initiatives for the involvement in sports activities and continuously ongoing R&D over the materials and sole may open a new opportunity for the market in forthcoming years. However, environmental issues caused during the footwear disposal act as a challenge for the market. Manufacturers are now designing footwear made out of polymer, further adding to the waste burden.
The global athletic footwear market is highly fragmented. Adidas AG, ASICS Corporation, Fila Inc., Lotto Sport Italia S.p.A., New Balance Athletics, Inc., Nike, Inc., Puma SE, Reebok International Ltd., Saucony, LLC, and Skechers USA, Inc. are key players dominating the global athletic footwear market. These players are continually launching new products with improved and distinct features. In February 2021, Nike launched Go FlyEase, a no-lace slip-on sneaker. In May 2020, On, the Swiss footwear brand, launched its first lifestyle running sneaker.
In this research report, the athletic footwear market is segmented by product type, distribution channel, end user, and region.
Analysis, By Product Type
By product type, the global athletic footwear market is segmented into running shoes, sports shoes, trekking or hiking shoes, and others. Running shoes acquired a more significant share in the global athletic footwear market. The increasing popularity of outdoor sports and recreational activities, growing interest in running activities, and raising awareness about running benefits regulate segment growth. Running helps to build strong bones, strengthen muscles, improve cardiovascular fitness, burn plenty of calories, and help maintain a healthy weight. Consumers prefer running shoes over regular running shoes owing to the build quality and -specific designs. Running shoes are beefier to handle the rough and rugged terrain, which reduces the chances of a sprained ankle.
Analysis, By Distribution Channel
By distribution channel, the global athletic footwear market is divided into sports and athletic goods stores, supermarkets/hypermarkets, online retail stores, and others. Sports and athletic goods a store is dominant distribution channel segment in the global athletic footwear market. Sports and athletic goods stores are popular for retail selling of athletic footwear shopping. Customers are interested in buying athletic footwear at sports and athletic goods stores due to the vast availability of varieties, easy access, and physical view of the product. The second most popular segment is online sales. Expanding the online presence of manufacturers and suppliers, the presence of foreign brands, growing use of smartphones are driving the online segment growth.
Analysis, By End User
Based on end-user, the global athletic footwear market is segmented into men, women, and children. Men end-user segment dominated the global athletic footwear market. Increasing focus towards staying fit, changing lifestyle, growing demand in emerging economies, increased demand for western brands, and more expenditure on grooming are steering men segment growth. Men spend more per pair and buy more pairs of athletic footwear than women. The women and kid segment is also gaining growth due to females and children's rising participation in sports activities. Expanding population of working women and increasing encouragement by parents to get their kids involved in sports activities further accelerates segment growth.
Analysis, By Region
Based on region, the global athletic footwear market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific is leading the athletic footwear market with maximum share and is expected to account for over two-thirds of shares. Expanding consumer base, growing interest in fitness and sports, prospering middle class, extensive distribution channel, and increasing e-commerce penetration drive regional growth. Europe and North America are increasing relatively at a lesser rate due to smaller consumer base, high labor costs, raw material costs, and intense competition.
Market Segmentation covered in the Report:
By Product Type
By End User
By Distribution Channel
- Running Shoes
- Sports Shoes
- Trekking/Hiking Shoes
- Sports and Athletic Goods Stores
- Online Retail Stores
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
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