Growing enthusiasm and awareness regarding the health benefits of sports and fitness activities and rising levels of disposable income of consumers are factors driving the Global Athletic Footwear market in the forecast period 2024-2028.
According to the TechSci Research report, “Athletic Footwear Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”, the Global Athletic Footwear Market stood at USD130.12 billion in 2022 and is anticipated to grow with a CAGR of 5.2% in the forecast period, 2024-2028. The athletic footwear market has witnessed remarkable growth in recent years, driven by a combination of factors that cater to the evolving preferences and needs of consumers. With an emphasis on fitness and active lifestyles, athletic footwear has become more than just a functional accessory; it is now a fashion statement, a performance enhancer, and a symbol of one's commitment to a healthy life.
The athletic footwear market is characterized by a dynamic interplay of various drivers that have fueled its growth and evolution. Rising health and fitness awareness, the fusion of fashion and streetwear, technological advancements, e-commerce and digital marketing, sustainability and ethical practices, and athlete endorsements all contribute to the growth of the market during the forecasted period.
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The athletic footwear market is in a constant state of evolution, shaped by changing consumer preferences, technological advancements, and societal shifts. To remain competitive and meet the demands of today's consumers, brands must stay ahead of the curve by embracing and capitalizing on emerging trends. In this comprehensive analysis, we will explore the major trends driving the athletic footwear market.
In line with the athleisure trend, consumers are increasingly favoring designer athletic footwear that incorporates aspects of sports design. Additionally, the continuous shift towards more active lives is what fuels the need for running and cycling footwear on a global scale. With the increase in women partaking in fitness and sports activities, as well as the popularity of sports and fitness activities like aerobics, swimming, running, and yoga, stylish and comfortable sports footwear that is perfect for everyday sports activities is becoming very popular. Consumers, particularly women, are buying more athletic footwear as a result of this. In addition, athleisure has become increasingly widespread, influencing millennial parents' sports footwear choices. Athletic footwear is famous among all age groups, as baby boomers, Generation X, Generation Z, and millennials are also participating in sports activities.
The global athletic footwear market is segmented based on type, end user, sales channel, and region.
Based on the type, with the largest market share in 2022, the running shoe category dominated the market. This may be ascribed to the fact that people use running shoes every day and that they are offered at a variety of price points, from incredibly economical athletic shoes to extremely opulent sports shoes.
With the largest market share in 2022, the men's category had the highest percentage. During the forecasted period, this segment will continue to dominate the market. The popularity of sports among women is continuing to rise, particularly in places that have not yet been penetrated, and women's footwear is progressively catching up.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. In 2022, with a significant share in 2022, Asia Pacific dominated the market. Over the course of the forecast, the area is expected to maintain its market dominance. The biggest growth rate is anticipated to occur in APAC over the projection period. The demand for athletic footwear in Asia Pacific is anticipated to be significantly fueled by rising levels of disposable income and expanding e-commerce.
Major companies operating in the global Athletic Footwear market are:
- Adidas AG
- ASICS Corporation
- Fila Inc.
- Under Armour, Inc.
- Lotto Sport Italia S.p.A
- New Balance Athletics, Inc.
- Vans, Inc.
- Nike, Inc.
- Puma SE
- Reebok International Ltd
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“The Athletic Footwear market is a dynamic and competitive sector characterized by evolving consumer preferences, technological innovations, and a fusion of fashion and performance. Key trends include sustainability, customization, and inclusivity, with brands focusing on eco-friendly materials, personalized designs, and catering to diverse demographics. Technological advancements, such as cushioning technologies and smart footwear, continue to enhance performance and user experience. In this ever-changing landscape, brands that adapt to these trends are positioned for success in this growing industry.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Athletic Footwear Market By Type (Aerobic Shoes, Running Shoes, Walking Shoes, Trekking & Hiking Shoes, Sports Shoes, Others), By End User (Men, Women, Children), By Sales Channel (Supermarkets/Hypermarkets, Multi-Branded Stores, Sports Stores, Online, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F, has evaluated the future growth potential of the athletic footwear market globally and provides statistics and information on market structure, size, share, and future growth. The report provides cutting-edge market intelligence and helps decision-makers to make sound investment decisions. Besides, the report also identifies the emerging trends along with essential drivers, challenges, and opportunities present in the market of athletic footwear globally.
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