Sports Footwear Market

Sports Footwear Market Study by Running Footwear, Training & Gym Footwear, Basketball Footwear, Football Footwear, Baseball Footwear, Tennis Footwear, and Cricket Footwear from 2023 to 2033

Analysis of Sports Footwear Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Sports Footwear Market Outlook (2023 to 2033)

Worldwide sales of sports footwear are estimated at US$ 122.2 billion for 2023 and are forecasted to jump to US$ 208.7 billion by the end of 2033. Over the next ten years (2023 to 2033), the global sports footwear market is projected to expand steadily at 5.4% CAGR.

Increasing purchasing power and per capita disposable income of the global population has a favourable impact on sports footwear demand. With higher personal earnings, people are willing to spend more for performance-based attributes including friction regulation, temperature control, moisture management, and waterproofing.

Moreover, the adoption of several advanced technologies in manufacturing processes such as 3D printing techniques for reduction of manufacturing time to increase production is also aiding sports footwear sales. Additionally, the population's growing concern for environmental conservation has raised the demand for sustainable sports footwear. Thus, to meet the demands of this current trend, manufacturers are continuously undergoing developmental transitions by using environmentally friendly raw materials.

  • In June 2021, Adidas introduced "Solarthon," a comfy and light golf shoe in the market. The new sneaker features a Primeblue textile upper manufactured from recycled yarn containing at least 50% ocean-bound plastic to boost Adidas' "End Plastic Waste" initiative.

Growing number of health-conscious people who have started participating in sports activities is also supporting market growth. In addition, the increasing number of personal training and sports centers in various regions across the globe will favor the demand for sports footwear.

On the flip side, the high cost of sports footwear is a key restraining factor that could hurt sports footwear companies across the study period and beyond.

Report Attributes Details
Sports Footwear Market Size (2023) US$ 122.2 Billion
Projected Market Value (2033F) US$ 208.7 Billion
Global Market Growth Rate (2023 to 2033) 5.4% CAGR
Sales Share of Modern Trade Channels (2023) >20%
United States Market Growth Rate (2023 to 2033) 5.5% CAGR
Training & Gym Shoes Market Share (2023) ~17%
Key Companies Profiled
  • Adidas AG
  • Brooks
  • Yonex
  • Puma SE
  • Under Armour
  • Fila Korea
  • Skechers USA
  • New Balance
  • Asics
  • Nike Inc.

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What’s Essential for Sports Footwear Start-ups to Make Strides in This Market?

“Sports Footwear Innovation Backed by Capital Investments”

Sports footwear technology has come a long way in the past couple of decades and even now innovation remains of the essence for new as well as established sports footwear brands. Developing and manufacturing novel athletic footwear requires huge capital investments and this is why aspiring sports footwear manufacturers are focusing on milking money from capital raise rounds.

  • In May 2023, Agilitas Sports, an athletic footwear start-up founded by former PUMA India executives, announced that it had raised over US$ 50 million in a financing round that was led by Convergent Finance LLP along with other individual investors. The company aims to disrupt the sports footwear industry through innovation that spans from the factory floor to retail shelves.
  • Hylo, a new company providing vegan athletic shoes based in London, announced that it had raised around US$ 3 million in a Series A round in 2022. The capital raise was led by Eka Ventures and other investors such as Patrick Bamford a footballer. The company had plans to utilize the financing to develop and create awareness regarding sustainable footwear.

Innovative sports footwear marketing is also playing a crucial part in the success of new as well as established companies operating in the industry. Inking exclusive deals with famous sports personalities is a common tactic that is tried and tested by sports footwear giants such as Nike and Adidas, which is why new sports footwear suppliers should also take a shot at this if they want to make it in this marketplace.

Start-ups can benefit by learning more about aspects such as local supply, pricing trends, product standards, safety regulations, and new developments that have been discussed extensively in this sports footwear industry study by skilled analysts at Fact.MR, a market research and competitive intelligence provider.

Sports Footwear Market Size, Share, Trends, Growth, Demand and Sales Forecast Report by Fact.MR

Country-wise Insights

If sports footwear brands play their cards right, they can strike gold in whatever country they choose to do business. Strong and smart marketing will be of the essence for all sports footwear companies in competitive markets such as the United States, Germany, India, and China.

What Makes the United States a Profitable Market for Sports Shoes?

“Presence of Key Footwear Brands Such as Nike and New Balance”

The United States domesticates the world’s leading sports footwear manufacturing companies such as Nike, Under Armour, Sketchers, New Balance Athletics, etc. The rising number of people partaking in outdoor sporting activities such as rafting, skiing, trekking, etc. has garnered huge growth opportunities for the sports footwear suppliers.

  • In January 2021, New Balance designed a novel New Balance 991 shoes in collaboration with Patta. The new sneaker will have a dusty pink/light petrol coloring and go by the name Patta x New Balance M991Pat.

Furthermore, investments in research and development by manufacturers to create the best sports footwear products are also pushing market growth. Additionally, the presence of a high-value sports footwear retail infrastructure coupled with the rising popularity of training shoes, lifestyle sneakers, and basketball shoes are estimated to create an opportune scenario in the United States.

  • Sales of sports footwear in the United States are forecasted to rise at 5.5% CAGR from 2023 to 2033.

Why Should Sports Footwear Brands Invest in India?

“Huge Popularity of Cricket and Other Sports in the Country”

The craze for cricket in India is not unknown to the world and it has risen substantially in recent years. The organization of several cricket tournaments in the country and the success of the Indian cricket team in the majority of these tournaments has elevated cricket’s status from a game to a religion in the country.

As the focus on health and fitness increases in India, people are participating in sports such as cricket and football more than ever before, which is projected to benefit sales of running shoes, training shoes, etc. in the country going forward. Moreover, the rising popularity of other sports and increasing participation in outdoor activities is also anticipated to uplift the demand for golf shoes, soccer shoes, tennis shoes, etc. through 2033.

Which Sporting Discipline Dictates the Sales of Sports Footwear in Europe?

“Popularity of Football Holds Sway Over Market Growth in European Countries”

The European football scene is something that cannot be described in words. Football has been the single most popular sport in European countries with the craze being so much that there are work holidays for football events in some parts of Europe. The sports footwear market trends are influentially governed by football personalities in European countries, which is why collaborating with them is of the essence for sports footwear brands in this part of the world.

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Category-wise Insights

Sports footwear vendors looking to make the most of their investments should focus on selling training shoes via modern trade channels to stay competitive in the global industry landscape.

Which Type of Shoes Will Bring in High Revenue Streams?

“Training and Gym Shoes to Account for Prominent Market Share”

Increase in fitness enthusiasts across the globe is the major prospect driving the sales of training and gym shoes. The inclusion of basic physical training activities in schools and universities is also anticipated to contribute to the high demand for training shoes and gym shoes across the world going forward. The growing popularity of fitness trends through social media will also influentially boost training shoe shipments over the next ten years.

Where Do Most People Buy Their Sports Footwear From?

“Modern Trade Channels Preferred by Consumers for Footwear Purchases”

The population has favorably accepted and admired modern trade sales channels because of various benefits such as the availability of multiple product kinds under one roof, a greater range of similar products, a better price comparison experience, and so on. Additionally, increasing consumer engrossment in such places will push the market towards opportunistic growth.

  • Sales of sports footwear via modern trade channels account for more than 20% of the global market revenue share in 2023.

Competitive Landscape

Top sports footwear brands include Nike, Adidas, New Balance, Puma, and Under Armour. Renowned sports footwear vendors are focusing on expanding their product portfolio by launching new products with unique characteristics to satisfy evolving consumer demands.

  • In September 2023, Adidas revealed its plans to launch a new high-tech running shoe called Adizero Adios Pro Evo 1 with a hefty price tag of US$ 500. The brand claims that these are the lightest running shoes they have ever created.
  • In February 2023, Nike and Tiffany & Co. collaborated to design a new pair of sneakers called Nike x Tiffany & Co. Air Force 1 1837s. The sneakers were launched in March 2023.
  • In May 2021, Nike launched the "ZoomX Invincible Run" running shoes which is the newest addition to Nike's burgeoning line of athletic footwear.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Key Segments of Sports Footwear Industry Research

  • By Application :

    • Running
    • Training & Gym
    • Basketball
    • Football
    • Soccer
    • Baseball
    • Golf
    • Tennis
    • Cricket
    • Other Shoe Types
  • By End User :

    • Sports Footwear for Men
    • Sports Footwear for Women
    • Sports Footwear for Children
    • Unisex Sports Footwear
  • By Sales Channel :

    • Independent Sports Outlets
    • Franchised Sports Outlets
    • Modern Trade Channels
    • Direct-to-Customer Brand Outlets
    • Direct-to-Customer Online Channels
    • Direct-to-Customer Institutional Channels
    • Third-Party Online Channels
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

- FAQs -

How big is the sports footwear market in 2023?

The global sports footwear market accounts for a value of US$ 122.2 billion in 2023.

How much will the sports footwear market be worth by 2033?

Sports footwear sales are forecasted to reach US$ 208.7 billion by the end of 2033.

At what CAGR will the demand for sports footwear rise going forward?

Sports footwear shipments are projected to rise at 5.4% CAGR from 2023 to 2033.

How big is the athletic footwear market in the United States?

Sales of sports footwear in the U.S. are projected to rise at 5.5% CAGR through 2033.

Who is the largest seller of athletic footwear?

Nike accounts for more sales of sports footwear than any other company in the world.

Who are the most popular sports footwear suppliers?

Under Armour, Fila Korea, Skechers USA, New Balance, Asics, and Nike Inc. are leading sports footwear manufacturers in the world.

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