IMARC Group, a leading market research company, has recently releases report titled “Athletic Footwear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global athletic footwear market size, trends, share, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What is Athletic Footwear?
Sporting footwear, also recognized as sports shoes or sneakers, constitutes a distinct category of footwear meticulously crafted for sports and physical engagements. Engineered with a precise focus on furnishing comfort, support, and safeguarding for the feet during athletic pursuits, these shoes are characterized by their lightweight construction, flexibility, and incorporation of specialized technologies and materials. These elements collectively augment performance levels while concurrently mitigating the risk of injuries. The realm of athletic footwear encompasses a diverse array of designs and styles, tailored to meet the specific demands of various sports and activities such as running, basketball, soccer, tennis, and cross-training. Within these designs, attributes such as cushioning, stability, breathability, and traction are often seamlessly integrated to optimize both comfort and performance. Whether one is an aspiring sports enthusiast or a seasoned professional athlete, the significance of athletic footwear lies in its ability to offer indispensable support and comfort, thereby acting as an essential foundation for an active lifestyle.
How Big Is the Athletic Footwear Market?
The global athletic footwearmarket size reached US$ 116.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 189.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028.
Global Industry Trends and Drivers:
The athletic footwear market is undergoing transformation due to noteworthy industry trends and driving factors that are molding its expansion. A key trend involves the escalating embrace of athleisure fashion, wherein athletic footwear transcends its traditional sports-centric role to become an integral component of everyday casual wear. This evolution has broadened the consumer demographic for athletic footwear, stimulating heightened market demand. Another discernible trend is the burgeoning enthusiasm for fitness and wellness activities, fostering increased engagement in sports and physical exercise. This surge in participation has yielded augmented demand for specialized athletic footwear, replete with performance-enhancing attributes. Moreover, technological breakthroughs pertaining to footwear materials and designs have emerged as influential catalysts. Features encompassing lightweight and breathable textiles, state-of-the-art cushioning technologies, and advanced traction systems are driving innovation, capturing consumer attention. Furthermore, the surging impact of social media, celebrity endorsements, and sports sponsorships wields substantial sway, shaping consumer inclinations and brand selections within the athletic footwear realm. On the whole, the market’s trajectory is orchestrated by a convergence of factors encompassing style evolution, fitness prioritization, technological strides, and dynamic shifts in consumer preferences.
Athletic Footwear Market Growth and Opportunities:
Anticipated to undergo substantial growth, the athletic footwear market presents abundant prospects for industry participants. A pivotal growth catalyst is the burgeoning awareness surrounding health and fitness among consumers, propelling heightened demand for athletic footwear tailored to sports and exercise activities. The surge in participation in recreational sports and outdoor pursuits further bolsters the momentum of market expansion. Furthermore, the ascendancy of athleisure fashion and the prevailing trend of incorporating athletic footwear into casual wear portfolios augment the scope for market enlargement. In tandem, technological strides in materials and designs, embracing attributes such as lightweight yet sturdy fabrics, advanced cushioning systems, and enhanced traction capabilities, stand as drivers of product innovation. These advancements resonate with consumers, stoking their interest. The flourishing e-commerce landscape has ushered in novel avenues for market proliferation, providing seamless online platforms for consumers to acquire athletic footwear with ease. Moreover, untapped opportunities unfurl in emerging markets, notably in the Asia-Pacific and Latin American regions. Here, escalating disposable incomes coupled with evolving lifestyles amplify the potential for market expansion. In summation, the athletic footwear market is primed for growth, underpinned by evolving consumer predilections, technological breakthroughs, and an increasingly expansive market presence.
What Is Included In Market Segmentation?
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:
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Who Are The Key Players Operating In The Industry?
The report covers the major market players including:
- Adidas AG
- ASICS Corporation
- FILA Holdings Corp
- K-Swiss Inc.
- New Balance Inc.
- Nike Inc.
- Puma SE
- Reebok International Ltd.
- SKECHERS Inc.
- Under Armour Inc.
Key highlights of the Report:
- Market Performance (2018–2023)
- Market Outlook (2023–2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
- Scope and Methodology
- Executive Summary
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape