Athletic Footwear Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, End User and Distribution Channel : Global Opportunity Analysis and Industry Forecast 2021-2030

Athletic Footwear Market Outlook - 2030

The athletic footwear market was valued at $109.7 billion in 2020, and is projected to reach $165.0 billion by 2030, registering a CAGR of 4.2% from 2021 to 2030.Athletic footwear refers to those shoes that are designed for sports and other outdoor activities. The global consumption volume indicates a trend of these being used as casual and fashion footwear by people of all age groups. The market offers a variety of footwear with options in color, design, and price to cater to the needs and purchasing abilities of individual customers. Sales expansion through online channels, innovative product launches, and attractive marketing and promotional strategies that are adopted by companies led to rise in growth of the athletic footwear market size. The market is highly competitive with players making huge investments in marketing channels and brand building. This highlights their presence and helps establish their brand value to attract an increased volume of consumers. There are numerous small-scale manufacturers that offer tough competition to athletic footwear giants. Increasing environmental concerns over synthetic rubber and rise in raw material prices have emerged as major challenges for the athletic footwear market growth.

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 todeveloping 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 variousconditions. 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.

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.

The athletic footwear market is segmented on the basis of type, end user, distribution channel and region. By type, it is categorized into sports, running, and walking shoes; hiking and backpacking shoes; and aerobic and gym wear shoes. Sports shoe segment is further categorized into tennis shoes, soccer shoes, basketball shoes, cricket shoes and others. By user, the market is segmented into men, women, and kids. On the basis of distribution channel the market is subdivided into hypermarkets/supermarkets, brand outlets, specialty stores and online channels. A tremendous drift in youth fashion trends has been witnessed, which may increase the demand for new products in the developing market. On the basis of region, the market is classified into North America, Europe, Asia-Pacific, and LAMEA.

Key players operating in the athletic footwear market have adopted product launch, business expansion, and mergers& acquisitions as key strategies to expand their athletic footwear market share, increase profitability, and remain competitive in the market. Leading players analyzed in the athletic footwear market analysis includes-Asics Corporation, Adidas AG, Puma, VF Corporation, Nike, Inc., FILA Korea, Ltd., New Balance, Inc., SKECHERS, Inc., K-Swiss, Inc., and Wolverine World Wide, Inc.

COVID-19 impact analysis

• The COVID-19 pandemic has a huge impact on the global athletic footwear market.
• The COVID-19 pandemic had a significant impact on the supermarkets/hypermarkets segment, owing to closure of major distribution channels across the globe in an attempt to prevent the spread of coronavirus.
• Manufacturers are comprehending strategies to revive from the current situation by means of reshaping their strategies as well as product innovation.

Key Benefits Athletic Footwear Market:

• The report provides a quantitative analysis of the athletic footwear market trends, estimations, and dynamics of the athletic footwear market size from 2020 to 2030 to identify the prevailing opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• The athletic footwear market forecast is offered along with information related to key drivers, restraints, and opportunities.
• The major countries in each region are mapped according to their revenue contribution to the athletic footwear market.
• The market player positioning analysis facilitates benchmarking and provides a clear understanding of the present position of the market players in the athletic footwear industry.

  Athletic Footwear Market Report Highlights

Aspects	Details
By Type	Sports shoes Tennis Shoes Soccer Shoes Basketball Shoes Cricket Shoes Others Running and walking shoes Hiking and backpacking shoes Aerobic and gym wear shoes
By End User	Men Women Kids
By Distribution Channel	Hypermarkets/Supermarkets Specialty Stores Brand Outlets Online Channels
By Region	North America  (U.S., Canada, Mexico) Europe  (UK, Germany, France, Italy, Spain, Russia, Rest of Europe) Asia-Pacific  (India, China, Japan, ASEAN, Australia & New Zealand, South Korea, Rest of Asia-Pacific) LAMEA  (Brazil, Argentina, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players	Adidas group, K-Swiss, Inc., VF Corporation, SKECHERS, Inc., FILA Korea, Ltd., Nike, Inc., Wolverine World Wide, Inc., Puma SE, Asics Corporation, New Balance, Inc.

Analyst Review

Asia-Pacific constitutes the largest share in the global athletic footwear market, owing to of large population base and high involvement of consumers in sports activities in countries such as India and China. Various kinds of athletic footwear include sports shoes (tennis, cricket, soccer, and similar other sports), running & walking shoes, hiking & backpacking shoes, and shoes worn for aerobics and gym. Within different types of sports shoes as mentioned above, tennis shoes are anticipated to witness greater adoption across the world, owing to their increasing usage as lifestyle and fashion footwear in countries such as the U.S. and Canada. Moreover, in emerging countries such as India and China, adoption of sports shoes is expected to increase as a result of increasing participation in sports such as soccer and basketball. Government initiatives in these emerging economies have helped in popularizing various kinds of sports, leading to increase in demand for athletic footwear in Asia-Pacific region. The demand for high-quality athletic footwear is relatively lower in developing countries as compared to developed markets, owing to price sensitivity.

Owing to strict government regulations to curb pollution and increase in consciousness toward health and environmental sustainability, manufacturers are looking for ways to move their production units toward industrial areas. In addition, players have adopted product launch and acquisition as their growth strategies to further strengthen their foothold in the athletic footwear market. For instance, Adidas acquired fitness technology firm Runtastic in August 2015, which provided mobile apps and proprietary hardware that enabled users a detailed analysis of their fitness activities.

Author Name(s) : Samriddhi Chauhan | Roshan Deshmukh

Related Tags

• Sporting Accessories
• Off The Shelf Clothing