Global Sneakers Market to Cross $ 88 Billion by 2024
Rising
awareness towards healthy lifestyle products coupled with increasing fashion
consciousness to drive global sneakers market through 2024
According to TechSci Research
report, “Global
Sneakers Market By Type, By Distribution
Channel, By Region, Competition, Forecast & Opportunities, 2024”, global sneakers market is
projected to reach $ 88.3 billion by 2024, on the back of increasing
participation of the young population in sports and fitness activities and rising
inclination towards branded and high-fashion footwear. Moreover, increasing
demand for innovative and comfortable footwear is expected to have a positive
impact on global sneakers market during the forecast period. Some of the
leading players in global sneakers market are Nike, Adidas AG, ASICS
Corporation, Puma and Under Armour.
By distribution
channel, global sneakers market has been categorized into store-based retail
and non-store-based retail. The store-based retail accounted for majority share
in the global market for sneakers in 2018
and is expected to maintain its market dominance during forecast period. The
non-store-based retail is witnessing healthy growth, owing to growing
popularity of the e-commerce market. Asia-Pacific sneakers market is anticipated
to grow at the fastest rate during the forecast period. The demand for sneakers
in the Asia-Pacific region is being driven by the availability of cheap raw
material and cheap labor, in addition to heavy concentration of leading
footwear manufacturers in the region. Moreover, growing interest in athletic
sports, improved lifestyles and rising demand for innovative footwear are also
likely to aid the region’s sneakers market. Furthermore, growing demand for
comfortable and lightweight sneakers for jogging and running for both men and women
is expected to add impetus to the Asia-Pacific sneakers market.
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“With increasing demand for
innovative and comfortable footwear as well as growing e-commerce retail sector,
global sneakers market is anticipated to register growth in the coming years.
Moreover, sneakers have gained a huge traction among adults, as they are becoming
more and more conscious about fashion.”, said Mr. Karan Chechi Research
Director with TechSci Research, a research based global management consulting
firm.
“Global
Sneakers Market By Type, By Distribution Channel, By Region, Competition,
Forecast & Opportunities, 2024” has evaluated the future growth
potential of global sneakers market and provides statistics and information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in global sneakers market.
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