Athletic Footwear Market By Type (Aerobic Shoes, Running Shoes, Walking Shoes, Trekking & Hiking Shoe By Product Type (Running And Walking Shoes, Aerobics/Gym Shoes, Hiking And Trekking Boots And Shoes, Specialty Shoes, Others), By Price-based (Premium, Mid, Economy), By Consumer Group (Men, Women, Kids), By Distribution Channel (Departmental Stores, Hypermarkets & Supermarkets, Online Retail, Specialty Stores, Sports Stores, Others) - Growth, Future Prospects & Competitive Analysis, 2016 – 2028

How has the Rise influenced the Expansion of the Market in Physical Activity and Sports Participation?

Shoes made for sports, and other outdoor activities are referred to as athletic footwear. The global consumption volume shows a tendency of people of all ages to wear this as casual and fashionable footwear. To meet the demands and budgets of various customers, the market offers a range of footwear in a variety of colors, styles, and prices. They are crucial for athletes because they offer torsional stability, traction on surfaces, flexibility, stability or motion control, and other advantages. The market is projected to be supported by an increase in the number of physical activities and sports participation. For instance, according to the Australian National Cricket Census, men and women have actively participated in cricket. Additionally, almost 1.5 million Australians participate actively in cricket events or activities.

Additionally, as people's knowledge of health and fitness has grown, so too has the number of people participating in sports and physical activity. The increasing innovation will impact the market's growth in athletic footwear, such as improved functionality and lightweight running shoes. The market for sports shoes is projected to rise as more emerging nations place more emphasis on building gyms and sports infrastructure. According to the International Health & Fitness Association's 2019 report, there have been 183 million more people joining fitness clubs worldwide.

What is the Market Size of Athletic Footwear in terms of value?

The global Athletic Footwear Market is projected to increase at a significant CAGR of 3.90 % in the coming years. In 2021, the global Athletic Footwear market was valued at USD 111.2 billion and is projected to reach USD 139.9 billion by 2028. The demand for Athletic Footwear is projected to increase substantially in the coming years. It is presumed to generate revenue opportunities for the key industry players worth USD 28.7 billion during the forecast period of 2022 and 2028. 

What effect has COVID-19 had on the Market for Global Athletic Footwear?

With the spread of COVID-19 in 2020, different restrictions have been enforced globally. The COVID-19 epidemic has had a negative impact on various businesses, notably the athletic footwear market worldwide. Manufacturing centers all over the world were suffering greatly as a result. During the pandemic, local governments globally halted most activities where the mass gathering is possible but not required. Major sporting events slated for 2020, such as the Olympics, FIFA, and others, have been postponed or cancelled. Running, trekking, riding, and biking were also restricted by sporting enthusiasts due to the hard conditions. Closures of sports retail locations and prohibitions on the online selling of non-essential items also negatively influenced the market.

Interesting Facts about Athletic Footwear Industry

• The primary drivers fuelling the market expansion are thought to be increasing consumer disposable income, a booming global retail e-commerce industry, and growing passion and understanding about the health advantages of sports and fitness activities.
• Asia Pacific region had a major share in terms of volume as well as value in the global Athletic Footwear market in 2021 and is projected to dominate the market over the forecast period.
• The addition of IoT and digital connectivity technologies in athletic footwear aids in measuring an athlete's fitness activities and is altering the worldwide athletic footwear industry.
• International and domestic players compete in the market. Key market players rely on strategies such as innovation and new product launches to improve their portfolio offering in the industry.
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Who are the Top 10 Players/Companies in the Athletic Footwear market in term of value?

The key players in the global Athletic Footwear market in terms of value Adidas AG; ASICS Corporation; Lotto Sport Italia S.p.A; New Balance Athletics, Inc.; Vans, Inc.; Fila Inc.; Under Armour, Inc.; Nike, Inc.; Puma SE; and Reebok International Ltd. These key players are concentrating on new product developments as well as technological innovation to enhance their production in Athletic Footwear to gain a competitive market share at a global level. For instance, in June 2021, the ASICS GEL-Quantum Levitrack by Kiko Kostadinov was released with a GEL midsole. On the other hand, in March 2021, Adidas released a Kanye West-inspired range of sneakers known as the Yeezy series 450 as a follow-up to the Yeezy 350 series. 

Who are the Top 10 Countries in the Athletic Footwear Market?

The major countries in the global Athletic Footwear market are US, Canada, China, Japan, Australia, Germany, France, Italy, Spain, and UK. The largest market share is in the United States. Increased participation in sports by children and teenagers will boost growth in the United States. According to the National Federation of State High School Associations' September 2019 data, the United States had 7,937,491 students competing in high school sports in 2018-2019. Demand for the product is also high because of increasing sports awareness, expanded participation of countries in various sports and games, and rising preference for fitness among children. The United States is the leading revenue contributor to regional market growth, which can be due to residents' love for sports, fitness, and adventure activities such as aerobics, hiking, training, and trail running. However, Covid-19 has tremendously impacted the athletic footwear and apparel industries in the United States. In terms of brands, Nike brand footwear sales fell into the high teens, Brand Jordan fell into the low teens, and Converse fell by more than 30%. Adidas, Skechers, ASICS, and Vans all fell in the teens, while Under Armour fell by approximately 25% and Fila fell by about 50%.

Which is the Key Type Segment in the Athletic Footwear Market?

The running shoe segment dominated the market, which can be ascribed to the everyday use of running shoes as well as the availability of these shoes in a wide variety of pricing ranging from low-cost athletic shoes to high-end athletic shoes. Running shoes are needed for training, intermediate running, road running, trail running, track running, and racing. The sports shoe category was further examined based on prevalent sports in each location. In addition, the trekking and hiking shoe category is expected to develop at a healthy rate during the forecast period as a result of technological advancements that have increased hiker comfort and flexibility.

What are the Major Driving Factors for Athletic Footwear Market?

The popularity of athletic footwear products has increased rapidly due to usage in various conditions. The athletic footwear market size increased as a result of the adoption of attractive marketing and promotional techniques, the expansion of sales through online channels, and the introduction of novel products. Numerous consumer groups, including sportsmen and climbers, use athletic footwear. Additionally, there are clients that care about their fitness, gym users, and those who use them for light exercise routines. As a result, players in the industry invest a lot of money in brand development and marketing channels, making the market very competitive. This draws attention to their presence and contributes to building their brand's worth in order to draw in more customers.

What are the Major Restraints for Athletic Footwear Market?

One of the major restrictions on the athletic footwear market is growing environmental concerns. The active actions adopted by the government and environmental groups to combat pollution function as a market restraint. There are various small-scale manufacturers who compete with athletic footwear behemoths. Growing environmental concerns about synthetic rubber, as well as rising raw material prices, have emerged as important impediments to the expansion of the athletic footwear market.

Which Region Dominated the World Athletic Footwear Market?

In 2021, Asia Pacific will dominate the Athletic Footwear market over the forecast period. Rising disposable income and e-commerce penetration are expected to play a significant influence in fuelling demand for athletic footwear in the Asia Pacific. In addition, participation in numerous sporting events, such as the Asian Games, the ICC Cricket World Cup, and the ACC Asia Cup, is fuelling the regional market's expansion. Increased investment in sports infrastructure facilities in countries such as China, India, and Japan, among others, is also driving the growth of the athletic footwear market in this region. According to the United Nations UNCTAD, china is investing USD 10 billion to develop real estate, entertainment, and sports in Asia. Furthermore, substantial imports of sports products increase the consumption of athletic shoes in the region. According to the Government of India's Ministry of Commerce and Industry, sports goods imports in India climbed to USD 332.06 million in 2019 from 292.05 million in 2018.

North America is expected to grow significantly over the forecast period because of the enormous presence of famous corporations such as Nike, Adidas, Reebok, Under Armour, and others in nations such as the United States and Canada Furthermore, the region's market expansion is being fueled by a wide income category of the people, as well as altering fashion preferences. Furthermore, rising consumer expenditure on footwear products drives up demand for athletic footwear in the region. In addition, sports shoes are a popular purchase among millennials and Generation Z. As a result, significant key players are competing in this region, resulting in market expansion. For instance, in March 2020, Adidas introduced its new SL20 sports shoe with light strike technology.

Segmentation of Global Athletic Footwear Market-

Global Athletic Footwear Market – By Type

•         Aerobic Shoes
•         Running Shoes
•         Walking Shoes
•         Trekking & Hiking Shoes
•         Sports Shoes
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Global Athletic Footwear Market – End-user

•         Men
•         Women
•         Children