Athletic Footwear Market Analysis: Global Size Supposed to reach USD 60.5 Bn By 2026

The global Athletic footwear market accounted for US$ 37.8 Bn in 2017, expanding at a CAGR of 5.3% from 2018 to 2026.

Market Insights

Global athletic shoes accounted for US$ 37.8 billion in 2017, with CAGR growing by 5.3 per cent during the 2018-2026 forecast period. Footwear refers to clothing worn on the feet, which basically serves as a protection against dampness, cold, roughness, dust and heat from the ground while walking, standing and running. Athletic shoes include shoes used in exercises, sports, aerobics, hiking and walking. At present, the trend has also shifted to fashion and casual footwear across all age groups.

Technological advances in the athletic footwear industry have enabled companies to manufacture high-quality products with the objective of meeting the growing demand of consumers. Consumers are also willing to spend more on footwear as a result of the adoption of high-quality raw materials and the use of various machines designed to produce accurate and accurate products with consumer comfort in mind. Companies are also focusing on the adoption of 3-D printing technology with the aim of producing quality shoes in less time. For example, in January 2018, Under Armour, Inc., based in the U.S, launched two connected running shoes namely Hovr Sonic and Hovr Phantom with tracking capabilities on stride length, distance, and others. These shoes are synced with connected handset with the help of Under Armour MapMyRun app. These are also equipped with accelerometer, bluetooth module and gyroscope inside the foam soles. In addition, active promotions by the various manufacturers followed by ease of availability of footwear products on online platforms is also fueling the demand for global athletic footwear market during the forecast period from 2018 to 2026.

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The increasing demand for comfortable and fashionable footwear among all age groups followed by increasing participation in sports activities is one of the important factor driving the growth of this market. Increasing awareness regarding the health benefits followed by changing lifestyle of consumers is another factor expected to trigger the market growth. The global athletic footwear market is highly competitive with different players making huge investments in brand building and marketing channels. This in turn aims to establish brand value and presence in the global market with an objective to attract new consumers and expand consumer base. Presence of various small-scale manufacturers offers tough competition to the key players operating in the market. Rise in raw material prices followed by growing environmental concerns over synthetic rubber is expected to restrain the growth of this market during the forecast period. Availability of counterfeit products offered by local manufacturers is also expected to restrain the global athletic footwear market.

The global market for athletic footwear has been segmented by product type, price, consumer group, distribution channel and geography. In 2017, both in terms of value and volume, the running and walking shoes segment dominated the global athletic footwear market by product type. Wide availability in different price ranges, followed by daily use by the mass population, is expected to boost the growth of this segment. In terms of the price-based segment, economic footwear is widely favored by all age groups. In 2017, men dominated the global market for athletic footwear by the consumer group, both in terms of value and volume. By distribution channel, online retail is expected to be the fastest growing segment due to the increasing penetration of e-commerce in developing countries, including India and China, followed by ease and convenience of shopping. As far as geography is concerned, Asia Pacific is the most significant market and has the largest market value and market share in the global athletic footwear market. Growing awareness of healthy lifestyles, followed by increasing demand for sports footwear, is the main driving force behind the athletic footwear market in this region.

Key players operating in the global athletic footwear market includes Adidas AG, Nike, Inc., Reebok International, Puma SE, Lotto Sport Italia S.p.A, ASICS Corporation, Under Armour Inc., Fila Inc., Skechers USA Inc. and New Balance Athletics, Inc. among others.

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“Economy Segment Driving the Growth of Athletic Footwear Market”

The price range of economic athletic shoes varies from US$15 to US$100. The price range for mid-level shoes ranges from US$100 to US$150, while shoes above US$150 are considered to be premium segments within the scope of research. The segment of the economy held the largest market share due to the fact that shoe companies are focusing on gaining market share by selling their footwear products at a low price compared to their competitors. In addition, by selling economic products, companies also aim to achieve long-term survival in the footwear industry by attracting consumers through the use of low-cost marginal footwear products.

Product Type Segment (2016–2026; US$ Bn)

  • Running and Walking Shoes
  • Aerobics/Gym Shoes
  • Hiking and Trekking Boots and Shoes
  • Specialty Shoes
  • Others (Technical Shoes, Approach Shoes, etc.)

 Price-based Segment (2016–2026; US$ Bn)

  • Premium
  • Mid
  • Economy

 Consumer Group Segment (2016–2026; US$ Bn)

  • Men
  • Women
  • Kids

 Distribution Channel Segment (2016–2026; US$ Bn)

  • Departmental Stores
  • Hypermarkets & Supermarkets
  • Online Retail
  • Specialty Stores
  • Sports Stores
  • Others (Teleshopping, Off Pricers, etc.)

 Key questions answered in this report

  • Who are the distributors, traders and dealers of the athletic footwear market?
  • What are the expected largest product type, price, consumer group, distribution channel and geography segments in the market during the forecast period from 2018 to 2026?
  • What are the fastest-growing segments in the market for the forecast period?
  • What are the current market trends in the athletic footwear market and valuable opportunities for the players?
  • How the regulatory framework affects the global as well as the regional markets?
  • Which are the key players operating in the global market and what are the strategies adopted by them?
  • What are sales, revenue, business strategy and product portfolio of top manufacturers of athletic footwear market?
  • What is the market size and trend in emerging and developed markets?

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DoC: https://issuu.com/robsonspot/docs/athletic_footwear_market.docx

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