Athletic Footwear Market

Global Athletic Footwear Market Size (2024 to 2029)

As per our analysis report, the global Athletic Footwear Market is expected to reach USD 190.97 billion by 2029 from USD 148.21 billion in 2024, growing at a compound annual growth rate (CAGR) of 5.2 % during the forecast timeline.

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 into 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.

Global 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 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.

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 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.

Global 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.

Impact of COVID-19 on the 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 significant growth owing to growing health concerns among individuals especially due to the pandemic.

REPORT COVERAGE:

This research report on the global athletic footwear market has been segmented and sub-segmented based on category, gender, retail channel, and region.

Global Athletic Footwear Market - By 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 of 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.

Global Athletic Footwear Market -By 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.

Global Athletic Footwear Market – By Retail Channel:

• Brick & mortar stores
• E-commerce

The majority of sales in the athletic footwear market were carried out through brick-and-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.

Global Athletic Footwear Market – By Region:

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

KEY MARKET PLAYERS:

The major key market players in the Athletic Footwear Market are Nike, Adidas, New Balance, Vans, Under Armour, Lotto, Sketchers, Woodland, Puma, and Reebok.

RECENT HAPPENINGS IN THE MARKET:

• The 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 retail 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 on 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.