IMARC Group has recently released a new research study “Athletic Footwear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of athletic footwear market ?
The global athletic footwearmarket size reached US$ 110.31 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 145.81 Billion on by 2027, exhibiting a growth rate (CAGR) of 4.50% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What is a the athletic footwear Market ?
Athletic footwear refers to shoes made especially for sports and other activities, including aerobic dancing, jogging, running, and recreational hobbies. They are manufactured from lightweight materials such as plastic, jute, breathable knit polyester, leather, wood, rubber, and nylon mesh. They have a stronger sole than traditional variants and offer more cushioning, adjustability, flexibility, durability, and stability. They help prevent foot injuries and other problems, such as corn, fungal infections, and ingrown toenails. Since they provide comfort, excellent arch support and protection, and enhanced athletic performance, athletic footwear is gaining immense traction across the globe.
What are the major market drivers in a athletic footwear market ?
The global athletic footwear market is primarily driven by the increasing participation of individuals in sports and physical activities and home workout routines due to rising health consciousness. Moreover, the introduction of breathable, durable, and lightweight athletic shoes with multiple layers of mesh fabric is positively influencing the market growth.
Additionally, the surging product adoption by climbers and athletes to reduce back and knee stress and avoid muscle and leg injuries is another major growth-inducing factor. Furthermore, several key players are introducing innovative products with unique designs and superior comfort. In line with this, the increasing demand for premiumization and customization of athletic shoes with excellent quality and design is propelling market growth.
Other factors, including easy product availability across e-commerce platforms, the development of smart footwear that collects physical activity data on connected devices, and inflating consumer disposable incomes, are also anticipated to create a favorable market outlook.
|Athletic Footwear Market Report Scope|
|Market size value in 2021||US$ 110.31 Billion|
|Market forecast in 2027||US$ 145.81 Billion|
|Growth Rate||CAGR of 4.20% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends|
|Segments covered||Product Type, Distribution Channel and End User|
|Regional scope||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Key companies profiled||Adidas AG, ASICS Corporation, FILA Holdings Corp, K-Swiss Inc., New Balance Inc., Nike Inc., Puma SE, Reebok International Ltd, Saucony, SKECHERS Inc. and Under Armour Inc.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization purview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
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The report has been segmented the market into following categories:
Breakup by Product Type:
- Aerobic Shoes
- Running Shoes
- Walking Shoes
- Trekking and Hiking Shoes
- Sports Shoes
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Brand Outlets
- Online Channels
Breakup by End User:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players:
The major players in the market are
FILA Holdings Corp
New Balance Inc.
Reebok International Ltd
Saucony, SKECHERS Inc
and Under Armour Inc.
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