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Athletic Footwear Market by Category Type (Aerobic Shows, Running Shoes, Walking Shoes, Trekking & Hiking Shoes, and Sport Shoes), by Gender (Men, Women, Children, and Unisex), by Sales Channel (Brick & Mortar Stores, and E-Commerce), and Geography – Global Industry Analysis Size, Share, Scope, Trends, and Forecast Report 2022 to 2027

Published: January, 2022
ID: 9605
Pages: 175
Formats: report pdf report excel report power bi report ppt

Athletic Footwear Market Share, Size and Forecast 2027:

The Athletic Footwear Market is predicted to garner a compound annual growth rate (CAGR) of 7.15% in the calculated period 2022-2027

The athletic footwear market consists of footwear that is intended to carry out sports and physical activities. Sportswear, aerobic shoes, walking and running shoes, and trekking shoes are mainly incorporated in the athletic footwear market. The material of athletic footwear is generally flexibly made of rubber, leather, and various synthetic materials. Ethylene-vinyl acetate (EVA) and polyurethane materials provide the cushion inside the footwear. In recent years, athletic footwear has been used for casual purposes as well. Athletic footwear comes with different names in different countries. The popularity of the market can be attributed to the variety it offers in terms of shapes, sizes, colours, and price ranges of the product.

Market Growth Rate & Trends:

  • Inventiveness in the athletic footwear market is an important trend leading to market growth. To align with the consumers’ interests, companies are regularly updating their product portfolio by launching new products with various shapes, sizes, colours, and price range options. Incorporating technology into the product is also an angle being explored by the market leaders. For instance, a product has already been launched with the ability to calculate the calories burnt.
  • The most common activity adopted by individuals to manage a healthy lifestyle is either walking or running. The trend has widely expanded the customer base for the running shoe segment.
  • The popularity of online platforms is a boon for the athletic footwear market. Online platforms allow the customers to browse through a large collection of products, more than any retail store could offer. Data science and recommender systems are important tools to target customers and achieve higher conversion rates.

Athletic Footwear Market Dynamics:

Athletic Footwear Market Drivers:

  • Health awareness has been growing among the global population. The demand for athletic footwear can be attributed to the increasing need for exercising in order to maintain the shape of their body and stay fit. With the changing lifestyle and increasing diabetes, high blood pressure, and depression cases have been registered, forcing people to adopt a healthy lifestyle.
  • Sports activities are being encouraged with the help of promotional events and campaigns. Major events and sports teams tie up with footwear brands for sponsorship. These activities have been successful in driving the market growth and are expected to continue to do so in the forecast period.
  • The younger population is involved in more vigorous sports activities making them prone to injuries. Good quality shoes help in the prevention of those injuries.
  • The development of well-established distribution channels, online platforms, E-commerce channels and efficient supply chains has propelled the market growth significantly. Better promotional content & delivery standards have propelled the market growth.
  • The alignment of the athletic footwear market with fashion has been a market propeller. With increasing R&D activities, advanced, comfortable, and better quality products are being launched. The incorporation of technology in the products is also fueling market growth. With rising disposable incomes and the availability of athletic footwear in a huge price range, the customer base for the market is vast.

Athletic Footwear Market Restraints:

  • Rising raw material cost is a restraining factor for the market. This is a major hindrance faced by the market.
  • The usage of synthetic rubber poses environmental concerns.
  • Counterfeiting of branded products is also a restraint for market growth. Local manufacturers are competing with the major players, hindering their growth.

Recent Developments:

In November 2015, New Balance launched its first 3D printed running shoes. The production was done in collaboration with 3D Systems.

In 2017, Asics signed a partnership deal with Mita Sneakers for the making of Megalodon shark-inspired GEL-KENUN SHINKAI.

ATHLETIC FOOTWEAR MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 – 2027

Base Year

2021

Forecast Period

2022 - 2027

CAGR

7.15%

Segments Covered

Category, Gender, Retail Channel

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

  • Nike
  • Adidas
  •  New Balance
  •  Vans
  • Under Armour
  • Lotto
  •  Sketchers
  • Woodland
  • Puma
  • Reebok

Athletic Footwear Market Category:

  • Aerobic Shoes
  • Running Shoes
  • Walking Shoes
  • Trekking & Hiking Shoes
  • Sports Shoes

The market is dominated by the running shoe segment. Other segments’ popularity is regional, for instance, the U.S. has a significant share for sports shoes due to the popularity of baseball. Trekking and hiking shoes are also getting popular due to the development of more durable and comfortable products.

Athletic Footwear Market Gender:

  • Men
  • Women
  • Children
  • Unisex

The market is dominated by the men’s segment. Due to the promotion of sports among women, it is expected that the women’s segment will catch up to the men’s segment in terms of market share in developed nations.

Athletic Footwear Market Retail Channel:

  • Brick & mortar stores
  • E-commerce

The majority of sales in the athletic footwear market were carried out through brick & mortar stores. Even though the contribution of the E-Commerce channel was low, the segment is expected to grow due to the growing traction of online platforms across the world.

Impact of Covid-19 on the Global Athletic Footwear Market:

Covid-19 led to the unprecedented disruption of the supply chain. The footwear industry is likely to experience inconsistent growth in the years to follow. Due to the unprecedented disruption of the supply chain, significant export markets have collapsed leading to the global decline in the footwear market. Online platforms and E-commerce channels are popularizing over the pandemic and therefore, the athletic industry is expected to recover in the forecast period. The footwear market will witness sustainable growth owing to the rising fashion trends. The athletic footwear market is expected to a significant growth owing to growing health concerns among individuals especially due to the pandemic.

Geographical and Regional Presence:

  • North America
  • Europe 
  • Asia Pacific
  • Latin America
  • The Middle East and Africa 

Competition in the marketplace:

The global athletic footwear ecosystem is led by a few prominent players. They collectively share more than 80% of the market revenue. Key players have adopted the strategies of increasing their number of retails outlets, expanding their customer base and establishing strong distribution channels. Brands dominate the market based on the region. For instance, customers in Europe are inclined towards Puma and Asics, and New Balance has a strong market presence in North America.

Competitive advantage in the athletic footwear market is based on the R&D activities carried out by major players. Gaining profitability while surviving the competition is dependent of factors such as strong brand equity building, the strength of capital resources, and efficient management of the network.

In order to expand global customer reach and improve market presence, companies are expected to get involved in mergers and acquisitions in the following years.

Major Key Players in Athletic Footwear Market:

  • Nike
  • Adidas
  • New Balance
  • Vans
  • Under Armour
  • Lotto
  • Sketchers
  • Woodland
  • Puma
  • Reebok

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