Global Athletic Footwear Market to Grow with a CAGR of 5.2% through 2028
Growing enthusiasm and awareness regarding the health benefits of sports
and fitness activities and rising levels of disposable income of consumers are
factors driving the Global Athletic Footwear market in the forecast period
2024-2028.
According to the TechSci Research report, “Athletic Footwear Market – Global Industry Size, Share, Trends, Competition,
Opportunity, and Forecast, 2018-2028F”, the Global Athletic Footwear
Market stood at USD130.12 billion in 2022 and is anticipated to grow with a
CAGR of 5.2% in the forecast period, 2024-2028. The athletic footwear market
has witnessed remarkable growth in recent years, driven by a combination of
factors that cater to the evolving preferences and needs of consumers. With an
emphasis on fitness and active lifestyles, athletic footwear has become more
than just a functional accessory; it is now a fashion statement, a performance
enhancer, and a symbol of one's commitment to a healthy life.
The athletic footwear market is characterized by a dynamic interplay of
various drivers that have fueled its growth and evolution. Rising health and
fitness awareness, the fusion of fashion and streetwear, technological
advancements, e-commerce and digital marketing, sustainability and ethical
practices, and athlete endorsements all contribute to the growth of the market
during the forecasted period.
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in-depth TOC on "Global
Athletic Footwear Market.”
The athletic footwear market is in a constant state of evolution, shaped
by changing consumer preferences, technological advancements, and societal
shifts. To remain competitive and meet the demands of today's consumers, brands
must stay ahead of the curve by embracing and capitalizing on emerging trends.
In this comprehensive analysis, we will explore the major trends driving the
athletic footwear market.
In line with the athleisure trend, consumers are increasingly favoring
designer athletic footwear that incorporates aspects of sports design.
Additionally, the continuous shift towards more active lives is what fuels the
need for running and cycling footwear on a global scale. With the increase in
women partaking in fitness and sports activities, as well as the popularity of
sports and fitness activities like aerobics, swimming, running, and yoga,
stylish and comfortable sports footwear that is perfect for everyday sports
activities is becoming very popular. Consumers, particularly women, are buying
more athletic footwear as a result of this. In addition, athleisure has become
increasingly widespread, influencing millennial parents' sports footwear
choices. Athletic footwear is famous among all age groups, as baby boomers,
Generation X, Generation Z, and millennials are also participating in sports
activities.
The global athletic footwear market is segmented based on type, end user,
sales channel, and region.
Based on the type, with the largest market share in 2022, the running
shoe category dominated the market. This may be ascribed to the fact that
people use running shoes every day and that they are offered at a variety of
price points, from incredibly economical athletic shoes to extremely opulent
sports shoes.
With the largest market share in 2022, the men's category had the
highest percentage. During the forecasted period, this segment will continue to
dominate the market. The popularity of sports among women is continuing to rise,
particularly in places that have not yet been penetrated, and women's footwear
is progressively catching up.
Based on region, the market is segmented into North America, Europe,
Asia Pacific, Middle East & Africa, and South America. In 2022, with a significant
share in 2022, Asia Pacific dominated the market. Over the course of the
forecast, the area is expected to maintain its market dominance. The biggest
growth rate is anticipated to occur in APAC over the projection period. The
demand for athletic footwear in Asia Pacific is anticipated to be significantly
fueled by rising levels of disposable income and expanding e-commerce.
Major companies operating in the global Athletic Footwear market are:
- Adidas AG
- ASICS Corporation
- Fila Inc.
- Under Armour,
Inc.
- Lotto Sport
Italia S.p.A
- New Balance
Athletics, Inc.
- Vans, Inc.
- Nike, Inc.
- Puma SE
- Reebok
International Ltd
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“The Athletic Footwear market is a dynamic and competitive sector
characterized by evolving consumer preferences, technological innovations, and
a fusion of fashion and performance. Key trends include sustainability,
customization, and inclusivity, with brands focusing on eco-friendly materials,
personalized designs, and catering to diverse demographics. Technological
advancements, such as cushioning technologies and smart footwear, continue to
enhance performance and user experience. In this ever-changing landscape,
brands that adapt to these trends are positioned for success in this growing
industry.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Athletic Footwear Market By Type (Aerobic Shoes, Running Shoes, Walking Shoes,
Trekking & Hiking Shoes, Sports Shoes, Others), By End User (Men, Women, Children),
By Sales Channel (Supermarkets/Hypermarkets, Multi-Branded Stores, Sports Stores,
Online, Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F, has evaluated the future growth potential of
the athletic footwear market globally and provides statistics and information on
market structure, size, share, and future growth. The report provides
cutting-edge market intelligence and helps decision-makers to make sound
investment decisions. Besides, the report also identifies the emerging trends
along with essential drivers, challenges, and opportunities present in the
market of athletic footwear globally.
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