Athletic Equipment and Footwear Market

The athletic equipment and footwear market size was valued at $224.7 billion in 2018, and is projected reach $323.4 billion by 2025, registering a CAGR of 8.6% from 2021 to 2025. The outside USA region led in terms of athletic equipment and footwear market share in 2018 and is expected to retain its dominance throughout the forecast period.

Sportswear and footwear have experienced upgradations in their features over the years. In addition, athletic equipment and footwear market players are investing heavily in R&D to provide innovative as well as improved sportswear and footwear in the market. For instance, manufacturers in the market are developing Internet of Things-embedded sport shoes, which enable athletes to monitor, track, and analyze timing, pace, distance, and heart rate, and thus improve their performance, making these products more popular among sports enthusiasts. For instance, Adidas launched electronic-enabled shoes (smart shoes) that exhibit shock-absorbing feature depending on body weight, running style, speed, and running surface. These shoes use a magnetic sensing system that measures cushioning level, adjusted via digital signal processor, which controls motor-driven cable system. This, in turn, is likely to drive the athletic equipment and footwear market expansion in the upcoming year.

However, the availability of counterfeit products is a key factor that restrains the market growth. This is attributed to the fact that these products do not comply with the guidelines outlined by the regulatory bodies across the globe. As per a study by the Office for Harmonization in the Internal Market (OHIM), one of the European Union’s largest intellectual property agencies, the amount of total revenue lost due to counterfeiting of sports equipment is about 6.5% of the total sales across the EU-28. Availability of such counterfeit products leads to loss of job creation, which is expected to be created in the absence of these products. However, easy availability of such products on online portals and increase in accessibility & convenience of purchasing these products through the internet have paved a way for these products into the athletic equipment and footwear market.

Nevertheless, the number of women competing in sports has increased significantly over the last three decades. In addition, women participation in sports across the world has presently become one of the macro trends now in the sport industry. For instance, approximately 40–45% of women participated in Paralympic and Olympic Games hosted by Rio de Janeiro in the year 2016. Similar trends have been witnessed across myriad of sports with increased participation of women across countries. Engaged players in the industry can target new demographic niche to capture lucrative opportunities arising in the global athletic equipment and footwear market.

Segment review

Sports footwear are sporting goods that are majorly worn while performing sporting and recreational activities or during workout sessions. Athletic footwear include walking/running shoes, sneakers, cross-training/fitness shoes/aerobic shoes, hiking shoes/boots, basketballs shoes, sports sandals, tennis shoes, boat/deck shoes, hunting shoes, baseball shoes, skateboarding shoes, golf shoes, soccer shoes, cheerleading shoes, cycling shoes, water sports shoes, bowling shoes, track shoes, volleyball shoes, and wrestling shoes. They are easily available in the market through various distribution channels, including franchise store, online stores, supermarkets/hypermarket, and specialty stores. In addition, sports and equipment such as archery, backpacks, badminton sets, baseball, basketballs, bicycle, billiards/pool cue sticks, binoculars, bowling, exercise, eyewear sunglasses, fishing, footballs, golf, sport protective helmets, ice hockey, inline skates, lacrosse sticks, paintball guns, racquets, scooters, and skateboards are considered for global analysis.

Based on type the global athletic equipment and footwear market is studied across equipment and footwear. The equipment segment of the market leads in terms of market share and is poised to grow with highest CAGR during the forecast period.

The report focuses on the athletic equipment and footwear market growth prospects, restraints, and opportunities of the global market. The study provides Porter’s five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the athletic equipment and footwear market.

Some of the major players included in the athletic equipment and footwear market analysis are Adidas AG, Asics Corporation, Brooks Running Company, Fila Holding Corporation, Li Ning Company Limited, New Balance, Inc. Nike, Inc., Puma Se, Skechers USA, Inc., Under Armour, Inc., Callaway, Samsonite, Yonex Co., Ltd., Mizuno Corporation, Precor, Inc., Nautilus International, Inc., and Cybex International, Inc.

Covid-19 Impact Analysis

• Athletic equipment and footwear industry is profoundly impacted due to pandemic owing to lockdowns and widespread travel restrictions.
• The online sales channels have gained high traction in the last year as a result players operating in the industry are strengthening their digital presence.
• The global athletic equipment and footwear market is likely to rebound by the end of the year 2021 with the rollout of mass vaccination programs and with relaxation in restrictions and lockdowns
• Increasing awareness about health and fitness to further spur global demand for athletic equipment and footwear in post Covid world.
• The COVID-19 pandemic has a significant negative impact on the athletic equipment and footwear players, due to disruption in supply chains.

Key Benefits For Stakeholders

• The report provides an extensive analysis of the current and emerging athletic equipment and footwear market trends and opportunities.
• The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing athletic equipment and footwear market opportunities in the market.
• The athletic equipment and footwear market forecast is offered along with information related to key drivers, restraints, and opportunities.
• The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
• The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

Athletic Equipment and Footwear Market Segments

By Type

• Equipment
• Footwear

By Region

• USA
• Outside USA
• Key Market Players
• Adidas AG
• Asics Corporation
• Brooks Running Company
• Fila Holding Corporation
• Li Ning Company Limited
• New Balance, Inc.
• Nike, Inc.
• Puma SE
• Skechers USA, Inc
• Under Armour, Inc

 Athletic Equipment and Footwear Market Report Highlights