Basketball shoes are used by both amateurs and professionals. Few newbies also go for basketball shoes for feel, support and comfort. They come in different pricing ranges, some are cheaper and some are premium.
There are many advantages of basketball shoes which have a positive impact on the global basketball shoe market.
Basketball shoes come in different price ranges, depending upon the brand, quality, material and additional features.
Better ankle protection from twisting during play, increased disposable income, more number of people opting basketball as their part time game or even looking forward to do career are the main reasons which have a positive impact on the growth of the global basketball market.
However, problems associated with certain manufacturing methods which release harmful chemicals and the damage of shoes caused from contact with moisture and other external agents due to poor material usage are hindering the global basketball shoes market. North America is expected to be the largest region for the basketball shoes market.
Basketball is a game which is popular across the globe and has several accessories. Shoes is one such accessory which is directly associated with the game, and is a more crucial one. There are several benefits of using shoes especially designed for the game.
The material, make, quality size, and other features decide the shoe rating and its premium. Basketball shoes are also used by people who have money and look for style but do not play the game. However, for basketball players who look at the game from a career perspective, this accessory is a must which is essential to maintain their foot health.
According to Fact.MR’s research the global basketball shoes market, is anticipated to reach a value of about US$ 5Bn by 2022 reflecting a sluggish CAGR during the forecasted period of 2017-2022.
North America at the Zenith of the Global Market
North America region is expected to show higher market attractiveness index and is considered to be the most lucrative market. This region is expected to dominate the global basketball shoes market in terms of revenue share and growing at a comparatively higher growth rate than other regions.
Europe is expected to show similar growth rate during the period of forecast, yet has a lower market share by revenue as compared to North America.
The main cause rise in this market is attributed towards the increasing disposable income and more riches opting for basketball as a recreational sport and also intend to take care of their foot health and especially protect their ankles, thereby contributing to the fast growth rate of basketball shoes in the North America region.
Asia-Pacific excluding Japan (APEJ) region shoes sluggish growth rate and a slower one as compared to these two regions throughout the forecast period.
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High Tops Top the List
High tops segment by shoes type is anticipated to show a higher growth rate as compared to other segments along with a higher market share by revenue thereby showing dominance during the period of forecast.
The high tops segment is expected to grow at a CAGR of 2.8% during the forecast period of 2017 to 2022 and also is expected to gain a higher BPS by the end of 2022.
The medium tops segment is also gaining speed slowly, and seconds the high tops segment. High tops segment growth can be attributed towards the conventional design and ankle protection feature of high top shoes that low tops segment does not show. Moreover, the high top shoes are less costly and more robust.
By Buyer Type, the Individual Segment Outpaces Other Segments
The individual segment by buyer type shows a comparatively higher growth rate and is expected to register a CAGR of 2.9% during the period of forecast.
The segment also portrays dominance owing to a higher market share among the three segments. This segment also expected to enjoy a higher gain in the BPS by the end of 2022. Following the individual segment, the institutional segment has taken a better turn with respect to growth and market share.
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Laces Segment vs. Straps Segment, One Tough Call to Make
The laces segment by closure type is expected to grow at a higher rate followed by the straps segment. However, the laces segment shows higher market share and dominates the market.
The straps segment comes second in line with respect to value market share and it would be advisable to invest in these two segments as per regional outlook, especially in North America the laces segment could find better opportunities the laces segment is shows a market share of 57.1% as of 2017 and this trend is anticipated to continue throughout the period of forecast.
Third Party Online Channel Grows Stronger
The third party online channel segment by sales channel shoes a higher growth rate comparatively during the period of forecast with a higher market share by revenue thereby dominating the global market.
This segment is poised to register a CAGR of 3.4% during the period of forecast. Following this segment, the direct customer brand outlet segment shoes good potential and is expected to grow at a steady rate during the period of forecast.
An Adaptive Approach to Modern-day Research Needs
The report also profiles companies that are expected to remain active in the expansion of the global basketball shoes market through 2022, which include
- Adidas AG
- NIKE, Inc.
- Peak Sports USA
- PUMA SE
- ANTA Sports Products Ltd
- Li Ning Co. Ltd
- Under Armour Inc.
- Reebok International Ltd.
- Amer Sports Corporation
- Xtep International Holdings Limited.
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Basketball is a global game and has several accessories. Basketball shoes is one of the accessories which the amateurs and professionals wear during play. The benefits of shoes include firmness, grip, safety to ankle, and overall look.
These shoes also have certain limitations which might hinder the growth of the global market, such as, damage due to external factors due to poor material.
These shoes come in different sizes, prices, designs and shapes. North America region is dominating in the global market of basketball shoes and has high market attractiveness index. The report, compiled by Fact.MR, provides in-depth analysis of the global basketball shoes market for the forecast period 2017-2022, and offers key insights about future market direction.
The scope of Fact.MR’s report is to analyze the global basketball shoes market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis.
Basketball shoes manufacturers, stakeholders, and suppliers in the global sports industry can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and sports journals.
The report commences with a brief information of the global basketball shoes market. This executive summary sets the tone for the rest of the report, providing users the scope of the report.
The executive summary includes important facts and statistics on the global basketball shoes market.
The next section offers an overview of the basketball shoes market. This comprises an introduction to the market, along with a standard definition of the product – basketball shoes.
In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global basketball shoes market, the report provides updates about market opportunities, which can benefit leading manufacturers of basketball shoes.
With continuous evolution of the sports industry, keeping a record of latest developments and trends is fundamental for basketball shoes manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.
Considering the wide scope of the global basketball shoes market and to offer in-depth insights, Fact.MR’s report provides segment-wise analysis and forecast.
The global basketball shoes market has been categorized on the basis of shoes type, closure type, buyer type, sales channel and region. This segmentation analysis is comprehensive, coupled with a detailed country-wise forecast provided on all parameters.
The report’s last section comprises of the global basketball shoes market competitive landscape, to provide readers with the dashboard view of company analysis and market players.
This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global basketball shoes market.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research.
We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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