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Athletic Footwear Market

Athletic Footwear Market Forecast by Product Type (Running Shoes, Backpacking, Trekking Boots, Mountaineering, Others), By Distribution Channel (Hypermarkets/Supermarkets, Departmental Stores, Other), By Price, By Demographics, By Region - Global Market Insights 2022 to 2032

Analysis of Athletic Footwear market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Athletic Footwear Market Outlook (2022-2032)

The global athletic footwear market reached a valuation of US$ 79.0 Billion, and is likely to register a Y-o-Y growth rate of 4.0% in 2022, closing at US$ 82.56 Billion. Furthermore, across the 2022-2032 period of assessment, growth is expected to accelerate at a whopping 4.5% CAGR, reaching US$ 128.21 Billion.

E-commerce, which involves buying and selling products and services exclusively through electronic channels, has a huge demand globally. The most well-known form of e-commerce is online shopping. It has simplified the purchasing process for consumers by making it easier and more convenient. Online shopping is more popular in developed countries, such as America and Japan, compared to developing countries such as India and China. The current retail scenario is different from what it was ten years earlier. There is an immense athletic footwear market opportunity, owing to the emergence of e-commerce, which makes shopping simpler, easier, and more convenient.

The demand for athletic footwear products is increasing rapidly, owing to usage in various conditions. Athletic footwear are products used by various consumer types such as athletes and climbers. In addition, there are fitness conscious customers, gym goers, and people who use them for mild fitness routines. Various types of athletic footwear available in the market are prepared from high quality raw materials, such as leather, foam, and plastic, which involve use of advanced chemical additives.

Report Attributes

Details

Anticipated Base Year Value (2021)

US$ 79.0 Billion

Expected Market Value (2022)

US$ 82.56 Billion

Projected Forecast Value (2032)

US$ 128.21 Billion

Global Growth Rate (2022-2032)

4.5% CAGR

Expected Growth Rate of the US Market (2022-2032)

4.4% CAGR

Anticipated Growth Rate of the Chinese Market (2022-2032)

4.3% CAGR

Prominent Athletic Footwear Service Players

  • ASICS Corporation
  • New Balance INC.
  • Skechers INC.
  • VF Corporation
  • Deckers Outdoor Corporation
  • Wolverine World Wide Inc.
  • Amer Sports Corporation
  • NIKE Inc.
  • Adidas AG
  • PUMA SE
  • K-Swiss INC.

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2017-2021 Revenue Analysis of Athletic Footwear Market vs. Growth Outlook 2022-2032

The global market for athletic footwear expanded moderately from 2017 to 2021, showcasing a CAGR of 2.3% according to Fact.MR, a market research and competitive intelligence provider. Increased awareness about maintaining physical fitness has driven market demand for athletic footwear in recent years.

While outdoor activities, including sporting events, remained suspended across most of 2020 due to COVID-19, individuals indulged in sporting activities within residential settings, including walking and jogging, thus prompting increased purchases of various athletic footwear categories.

Owing to their enhanced functionality like better protection, easy movement control, mid-foot support as well as heel stabilization and cushioning, the estimated worth is likely to surpass over US$ 128.21 Bn by 2032.

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Key Market Drivers Influencing Athletic Footwear Industry Expansion

Growing Fitness Trends to Foster Market Growth Prospects

Escalating number of sport and fitness activities, such as aerobics, swimming, running, and yoga, along with increasing women participation in sports activities, are opening new avenues for global athletic footwear manufacturers.

By adopting the trend of athleisure, key vendors are customizing their product to cater the rising demand. In addition, athleisure has become more pervasive, as it has influenced the athletic footwear choice among millennial parents

For instance, Brazil has developed a significant sporting culture. Sports are not only widely played and popular among large segments of the population, but they are also diverse in nature, thereby becoming a demand hub for the manufacturers.

Surging Government Initiatives to Accelerate the Market Growth

The increasing purchasing power and rising disposable incomes of consumers have propelled the sports footwear market growth. The rising income level has resulted in a willingness to pay extra for several performance characteristics, such as waterproof quality, moisture management, temperature control, and friction regulation.

Furthermore, the increasing number of different retail outlets and hypermarkets, and supermarkets is expected to help the market gain impetus in the forecast period. Global, regional, and local government bodies focus on health and new strategies to draw the attention of the population towards the benefits of physical activities. Government bodies of several developed countries are constantly engaged in the process of establishing compelling healthcare offerings.

This would simultaneously increase the sports footwear business, as a significant portion of the population will be inclined towards sports and fitness activities. Moreover, governments across the globe are focusing on increasing investments made in sports, which would have a positive impact in surging the consumption rate. For instance, PRS India. Org data declares that the Ministry of Youth Affairs and Sports allocated USD 314.8 million for 2019-2020. Therefore, this kind of initiative will boost the future of sports and provide an impetus to the growth of the market.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Key Challenges encountered by Athletic Footwear Industry

Increasing Environmental Concerns to Hamper the Market Growth

Increasing environmental concerns is one the important restraints of the athletic footwear industry. The active measures taken by the government and environmental groups towards pollution act as a restraint for the market. The industry is one of the main causes of polluting the rivers and environment.

For instance, in July 2011, Puma along with other sportswear brands including Nike and Adidas was addressed as ‘Dirty Laundry’ as the subject of a report by the environmental group Greenpeace. Puma was accused of working with the suppliers in China who, according to the report, contributed to the pollution of the Yangtze and Pearl rivers.

Availability of Low-Cost Local Products to Limit Demand for Branded Athletic Footwear

Less number of sports opportunities and lower penetration of high-cost sports footwear in rural areas and low-income countries would limit the market expansion. Also, the availability of low-cost counterfeit products and the emergence of several small-scale market players have posed challenges to the high-cost branded footwear.

Country-wise Analysis

How will the U.S Perform in the Global Athletic Footwear Industry Landscape?

Consistently Evolving Fashion Trends to Boost the Market Growth

According to Fact.MR, the U.S will likely accelerate at a CAGR of 4.4% through 2032. The United States is the highest revenue-generating country in the athletic footwear industry. Robust distribution channels also drive the growth of the market. In the United States, the athletic footwear industry created nearly US$ 13.5 Bn of revenue in 2020, set to increase to surpass US$ 17 Bn by 2025.

The market is primarily driven by the consistently evolving fashion trends in the country. For instance, the emergent trend of athleisure footwear, combined with early adoption of latest trends in sports footwear is contributing to the market growth substantially.

How will the Growth of Athletic Footwear Market Escalate across China?

Huge Population Base in China to Enhance the Market Prospects

According to Fact.MR, China will likely accelerate at a CAGR of 4.3% through 2032. Soaring domestic sales of footwear owing to a huge population base and growing standards of living is boosting market growth in China. The athletic footwear domain observed solid growth over the last five years due to the changing fashion trends and shifting consumer preferences towards popular brands.

The athletic footwear market is estimated to cultivate at a CAGR of ~5% in the future. Swelling popularity of sports events and growing interest towards personal fitness is garnering the athletic footwear market in the country. Global manufacturers are collaborating with regional manufacturers to gain new grounds and expand their product reach in China.

Country-wise Forecast CAGRs for the Athletic Footwear Market

Country

CAGR

US

4.4%

China

4.3%

Germany

4.2%

Japan

4.2%

UK

4.1%

Category-wise Insights

Which is the Most Sought-after Product Type Category?

Daily Usage of Running Shoes to Boost the Segment’s Growth

In terms of product type, running shoes segment is prospective to earn greater traction, expanding at a CAGR of 4.2% over the forecast period. The running shoes segment dominated the market in 2021 with a revenue share of over 35.0%, which can be attributed to the daily usage of running shoes and the availability of these shoes in a wide range of prices ranging from affordable athletic shoes to highly luxurious athletic shoes.

Running shoes include shoes required for training, advanced running, road running, trail running, track running, and racing. Emerging popularity among consumers can be traced back to multi-functionality of light trail running shoes which can be used for daily jogging as well as trail running. These shoes hit a sweet spot in consumer preferences by balancing safety, comfort, agility, and design.

Which Segment to Remain Dominant in the Price-based Category?

Economy Athletic Shoes Segment to Enhance Growth Prospects

The economy segment by price-based type displays higher growth rate as compared to other segments, registering a CAGR of 4.4% across the 2021-2032 forecast period. Increased sporting activities frequency amongst the general population is expected to fuel demand.

For instance, the latest GEL-VENTURE® 8 running shoe by ASICS is an economical segment footwear which is designed for the great outdoor excellent for trail runs, light hiking or exploring. It is also estimated that this segment will earn higher BPS by the end of 2032.

Competitive Landscape

Prominent players in the Athletic Footwear Industry are taking advantage of the rapidly increasing demand for the Athletic Footwear in various applications. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale vendors. Some prominent market developments are as follows:

  • In September 2021, Skechers announced the launch of the all-new Skechers GO-run Razor Excess for men, which builds on the popularity of the award-winning GO-run Razor 3. The product is designed for every kind of runner, which deliver a swift and comfortable run with highly responsive, ultra-lightweight and durable hyper burst cushioning, as well as Goodyear rubber technology for enhanced traction, stability and durability.
  • In June 2021, Adidas launched a golf shoe called the “Solarthon” that is both lightweight and comfortable. Further, the brand aims to introduce Solarthon in limited-edition grey, blue and white colorways. The new shoe features Adidas’ Primeblue textile upper, a recycled yarn containing at least 50% Parley Ocean Plastic, to help the company’s “End Plastic Waste” initiative.
  • In May 2021, Nike unveiled its latest creation- “ZoomX Invincible Run” running shoes, as an addition to its expanding portfolio of athletic footwear. The design for the new product has drawn inspiration from the brand’s previous release, “Nike React Infinity Run” shoes.
  • In January 2021, Patta and New Balance joined to collaborate on New Balance’s 991 Sneakers. The new product would be known as the Patta x New Balance M991Pat, which will feature a dusty pink/light petrol colorway.

Key Segments Covered in the Athletic Footwear Industry Survey

  • By Product Type

    • Running Shoes
    • Athleisure Shoes
    • Gym/Aerobics Shoes
    • Backpacking Shoes
    • Trekking Boots
    • Rugged Boots
    • Specialty Boots
    • Mountaineering Boots
    • Other
  • By Distribution Channel

    • Hypermarkets/Supermarkets
    • Departmental Stores
    • Specialty Stores
    • Online Retail
    • Sport Stores
    • Other Channels
  • By Price

    • Economy
    • Mid-range
    • Premium
    • Super-Premium
  • By Demographics

    • Men
    • Women
    • Kids
  • By Region

    • North America
    • Latin America
    • Europe
    • APEJ
    • Japan
    • Middle East & Africa

- Premium Report Details -

Athletic Footwear Market
  • FACT225MR
  • Oct-2022
  • Sports
  • 170 Pages
  • 337 Tables
  • 117 Figures

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By 2032, the Athletic Footwear landscape is slated to reach a valuation of US$ 128.21 Billion

By price, the economy athletic shoes segment is expected to dominate the market, documenting a 4.4% value CAGR

As per Fact.MR’s projections, the market for Athletic Footwear in the US will likely expand at a 4.4% CAGR

China is poised to yield a CAGR of 4.3% with respect to Athletic Footwear in 2032

Running Shoes are expected to grow the fastest, at a CAGR of 4.2%

From 2022 to 2032, the Athletic Footwear industry is poised to flourish at a 4.5% CAGR

As of 2022, Fact.MR expects the Athletic Footwear industry to be valued at US$ 82.56 Billion

As of 2021, the Athletic Footwear market was valued at US$ 79.0 Billion

According to Fact.MR, a CAGR of 2.3% was recorded for the Athletic Footwear market from 2017-2021

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