Athletic Footwear Market is projected to reach $196.62 billion by 2030, growing at a CAGR of 5.0%

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The global athletic footwear market is a dynamic and expanding sector, driven by increasing participation in sports and fitness activities, growing awareness of health and wellness, and evolving fashion trends. Projected to reach USD 196.62 billion by 2030, the market is expected to grow at a steady compound annual growth rate (CAGR) of 5.0% during the forecast period. This growth reflects the increasing demand for specialized footwear designed to enhance athletic performance, provide comfort, and support active lifestyles.

Market Overview:

The athletic footwear market encompasses a wide range of shoes designed for various sports and physical activities, including running, training, basketball, soccer, tennis, and outdoor activities. It also includes casual athletic-inspired footwear, often referred to as “athleisure” shoes, which are designed for everyday wear. The market caters to diverse consumer segments, from professional athletes to recreational enthusiasts, offering a variety of styles, technologies, and price points.

Competitive Insight:

Some of the major players operating in the global market include Asics Corporation, Adidas group, FILA Korea, Ltd., K-Swiss, Inc., Lotto Sport Italia, Nike, Inc New Balance Athletics, Incorporation., Puma SE, Reebok International Limited, SKECHERS, Inc., Under Armour, Inc., Vans, Inc., VF Corporation, and Wolverine World Wide, Inc.

Recent Developments:

The athletic footwear market is characterized by strategic partnerships and a focus on enhancing the consumer experience. Recent developments illustrate this trend:

  • DICK’S Sporting Goods and NIKE Partnership (November 2021): The partnership between DICK’S Sporting Goods and NIKE highlights the growing importance of collaborative relationships between retailers and brands. This collaboration aims to enhance the shopping experience for customers by providing access to exclusive products, personalized services, and targeted promotions, demonstrating a focus on customer engagement and loyalty.

Drivers of Growth:

Several factors are contributing to the growth of the athletic footwear market:

  • Increasing Participation in Sports and Fitness Activities: The rising popularity of sports and fitness activities is driving demand for specialized athletic footwear.
  • Growing Awareness of Health and Wellness: Consumers are becoming more health-conscious and are investing in athletic footwear to support their active lifestyles.
  • Fashion Trends and Athleisure: The growing popularity of athleisure wear is driving demand for casual athletic-inspired shoes.
  • Technological Advancements: Innovations in footwear technology, such as improved cushioning, support, and breathability, are attracting consumers and enhancing athletic performance.
  • Rising Disposable Incomes: Increasing disposable incomes, particularly in developing economies, are enabling more people to spend on athletic footwear.

Key Trends Shaping the Market:

The athletic footwear market is witnessing several key trends:

  • Sustainability: Consumers are increasingly seeking eco-friendly athletic footwear made from recycled or sustainable materials.
  • Personalization: Customized athletic footwear tailored to individual needs and preferences is gaining popularity.
  • Smart Technology: Integrating smart technologies into athletic shoes, such as sensors for tracking performance metrics, is an emerging trend.
  • E-commerce Growth: Online retail channels are becoming increasingly important for the distribution of athletic footwear, providing consumers with greater access and convenience.
  • Brand Collaborations: Collaborations between athletic footwear brands and fashion designers or celebrities are creating buzz and driving demand.

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Athletic Footwear Market, Type Outlook (Revenue – USD Billion, 2018 – 2030)

  • Aerobic Shoes
  • Running Shoes
  • Walking Shoes
  • Trekking & Hiking Shoes
  • Sports Shoes
    • Tennis Shoes
    • Soccer Shoes
    • Basketball Shoes
    • Cricket Shoes
    • Others

Athletic Footwear Market, Distribution Channel Outlook (Revenue – USD Billion, 2018 – 2030)

  • Hypermarkets/Supermarkets
  • Specialty Stores
  • Brand Outlets
  • Online Channels

Athletic Footwear Market, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)

  • Men
  • Women
  • Children

The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment. Furthermore, segmentation analysis helps companies develop personalized products or services, which can result in increased customer loyalty and improved customer satisfaction.

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https://www.polarismarketresearch.com/industry-analysis/athletic-footwear-market

Challenges:

Despite its growth prospects, the athletic footwear market faces certain challenges:

  • Competition: The market is highly competitive, with numerous established players and emerging brands.
  • Counterfeit Products: The market is susceptible to counterfeit athletic footwear, which can be of poor quality and potentially harmful.
  • Price Sensitivity: Price remains a major factor influencing purchasing decisions, particularly in price-sensitive markets.

Opportunities:

The athletic footwear market presents several opportunities for growth:

  • Developing Markets: Emerging markets with growing interest in sports and fitness offer significant potential.
  • Product Innovation: Continuous innovation and development of new and improved athletic footwear technologies can drive market growth.
  • Expanding Product Categories: Brands can expand their product offerings to cater to niche sports and activities.

Table of Contents:

  1. Global Athletic Footwear Market Insights
    1. Athletic Footwear – Industry Snapshot
    2. Athletic Footwear Market Dynamics
      1. Drivers and Opportunities
        1. Growing health awareness is fostering the market growth
        2. Rise in number of sports-inspired children is propelling the demand for athletic footwear among kids
      2. Restraints and Challenges
        1. Rising prices of raw materials
    3. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers (Moderate)
      2. Threats of New Entrants: (Low)
      3. Bargaining Power of Buyers (Moderate)
      4. Threat of Substitute (Moderate)
      5. Rivalry among existing firms (High)
    4. PESTEL Analysis
    5. Athletic Footwear Market Industry Trends
    6. Value Chain Analysis
    7. COVID-19 Impact Analysis
  2. Global Athletic Footwear Market, by Type
    1. Key Findings
    2. Introduction
      1. Global Athletic Footwear Market, by Type, 2018 – 2030 (USD Billion)
    3. Aerobic Shoes
      1. Global Athletic Footwear Market, by Aerobic Shoes, by Region, 2018 – 2030 (USD Billion)
    4. Running Shoes
      1. Global Athletic Footwear Market, by Running Shoes, by Region, 2018 – 2030 (USD Billion)
    5. Walking Shoes
      1. Global Athletic Footwear Market, by Walking Shoes, by Region, 2018 – 2030 (USD Billion)
    6. Trekking & Hiking Shoes
      1. Global Athletic Footwear Market, by Trekking & Hiking Shoes, by Region, 2018 – 2030 (USD Billion)
    7. Sports Shoes
      1. Global Athletic Footwear Market, by Sports Shoes, by Region, 2018 – 2030 (USD Billion)
      2. Tennis Shoes
        1. Global Athletic Footwear Market, by Tennis Shoes, by Region, 2018 – 2030 (USD Billion)
      3. Soccer Shoes
        1. Global Athletic Footwear Market, by Soccer Shoes, by Region, 2018 – 2030 (USD Billion)
      4. Basketball Shoes
        1. Global Athletic Footwear Market, by Basketball Shoes, by Region, 2018 – 2030 (USD Billion)
      5. Cricket Shoes
        1. Global Athletic Footwear Market, by Cricket Shoes, by Region, 2018 – 2030 (USD Billion)
      6. Others
        1. Global Athletic Footwear Market, by Others, by Region, 2018 – 2030 (USD Billion)
  3. Global Athletic Footwear Market, by Distribution Channel
    1. Key Findings
    2. Introduction
      1. Global Athletic Footwear Market, by Distribution Channel, 2018 – 2030 (USD Billion)
    3. Hypermarkets/Supermarkets
      1. Global Athletic Footwear Market, by Hypermarkets/Supermarkets, by Region, 2018 – 2030 (USD Billion)
    4. Specialty Stores
      1. Global Athletic Footwear Market, by Specialty Stores, by Region, 2018 – 2030 (USD Billion)
    5. Brand Outlets
      1. Global Athletic Footwear Market, by Brand Outlets, by Region, 2018 – 2030 (USD Billion)
    6. Online Channels
      1. Global Athletic Footwear Market, by Online Channels, by Region, 2018 – 2030 (USD Billion)

Conclusion:

The athletic footwear market is poised for continued growth, driven by increasing participation in sports and fitness activities, evolving fashion trends, and technological advancements. While challenges exist, the opportunities are substantial for companies that can adapt to market trends, cater to diverse consumer needs, and innovate effectively. The market is likely to witness further development and expansion as manufacturers strive to provide high-performance, comfortable, and stylish athletic footwear for a wide range of activities and lifestyles.

 

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