The Global Athletic Footwear Market size is expected to reach $171.9 billion by 2028, rising at a market growth of 4.7% CAGR during the forecast period.
Athletic footwear refers to shoes that are designed for sports and other outdoor activities. People of all ages are wearing these as casual and fashion footwear. To meet the requirements and purchasing capacity of individual clients, there is a wide availability of footwear with colour, design, and pricing options.
Athletic footwear is a generic term for shoes that are designed to be worn while participating in sports. Sports shoes are primarily intended for use in active sports or other types of physical activity. They are necessary for athletes because they give flexibility, stability or motion control, road traction, torsional stability, and other advantages. Because of the expanding number of sporting competitions, demand for the product is increasing at a rapid pace. Furthermore, sports like football, baseball, hockey, and others attract a large number of participants, propelling market expansion. Cricket has seen active involvement from both males and females, as per the Australian National Cricket Census. Furthermore, approximately 1.5 million Australians participate in cricket programs or competitions. As a result, an increase in the number of people participating in sports is anticipated to boost the market.
Nike, Inc., Adidas AG, Skechers USA, Inc., and New Balance Athletics, Inc. are among the market's leading players, focused on creating revolutionary technologies to improve the stability and comfort of sports shoes. Adidas AG, for example, has developed a Forged Mesh, a single-layer shoe upper with a ribbed pattern built utilising ARAMIS motion capture technology to determine foot strain. To enable unfettered foot mobility, the technology helps offer optimum flexibility and suitable support along the ankle. Adaptive Traxion, Boost, Bounce, Climachill, Promeknit, and Stableframe are some of Adidas AG's other proprietary innovations.
Covid-19 has had a big impact on the sports footwear and apparel industries in the United States. In terms of brands, Nike brand footwear sales were down in the high teens, Jordan brand footwear was down in the low teens, and Converse sales were down by more than 30%. Adidas, Skechers, ASICS, and Vans all saw a drop in the teens, while Under Armour had a 25% drop and Fila saw a nearly 50% drop. The global athletic footwear market has been severely impacted by the COVID-19 pandemic. Due to the closure of key distribution routes around the world in an attempt to limit the spread of coronavirus, the COVID-19 pandemic had a substantial impact on the supermarkets/hypermarkets category.
Consumers' expanding purchasing power and disposable incomes have become crucial trends in the industry. As people's income levels rise, they're more willing to pay more for certain performance qualities including waterproofing, moisture management, temperature control, and friction regulation. Moreover, the growing number of different retail locations, hypermarkets, and supermarkets would impact the market in the upcoming years. Global, regional, and municipal governments are focusing on health and developing innovative tactics to raise people's attention to the benefits of physical activity. Several wealthy countries' government bodies are continually working to build enticing healthcare offers. This will generate a higher demand for athletic footwear at the same time, as a large section of the population will be interested in sports and fitness activities.
The global market is characterized by the rising prevalence of chronic diseases due to a lack of activity and a growing health-conscious population, particularly in metropolitan areas. In addition, sports shoe demand is expected to rise as more emerging countries focus on creating gyms and sports infrastructure. According to the 2019 International Health & Fitness Association Report, the global fitness club membership grew by 183 million people. In recent years, there has been an increased sports involvement by children and teenagers.
The manufacturers in the market would witness many challenges including a lack of sports possibilities and a reduced penetration of high-cost sports footwear in rural areas and low-income countries. In addition, the availability of low-cost counterfeit products, as well as the rise of various small-scale market participants, has created a threat to high-priced branded footwear. Moreover, there are many local players in many countries who are offering similar types of shoes at low-cost in order to entice young consumers, thereby posing a big challenge for the established industry players.
Based on Type, the market is segmented into Running Shoes, Trekking & Hiking Shoes, Sports Shoes, Walking Shoes, and Aerobic Shoes. The Trekking & Hiking Shoe segment obtained a significant revenue share of the Athletic Footwear Market in 2021. This is because of technical improvements in these shoes that have assured improved comfort and flexibility for hikers. For example, in collaboration with Salewa, W.L. Gore & Associates, Inc. introduced the first iteration of surround technology. GORE-TEX laminates are integrated into the shoe upper of trekking and hiking shoes to encircle the foot from all sides and expel sweat and heat through side ventilation.
Based on End User, the market is segmented into Men, Women, and Children. In 2021, the Men segment garnered the highest revenue share of the Athletic Footwear Market. This is credited to the male population's proclivity for sports and other physical activities. According to the United States Bureau of Labor Statistics, males spent an average of 5.7 hours in sports activities per day in 2018, while women spent 4.9 hours. In addition, the percentage of male as compared to women in major sports are high, hence boosting the demand for athletic footwear among men.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 125.4 Billion |
| Market size forecast in 2028 | USD 171.9 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 4.7% from 2022 to 2028 |
| Number of Pages | 174 |
| Number of Tables | 282 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, End-user, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2021, Asia Pacific emerged as the leading region in the overall Athletic Footwear Market. Increased levels of disposable income and increased e-commerce penetration are predicted to fuel demand for sports footwear in the Asia Pacific. Increasing interest in participation in various sporting events, such as the Asian Games, the ICC Cricket World Cup, and the ACC Asia Cup, is aiding the regional market's expansion.
Free Valuable Insights: Global Athletic Footwear Market size to reach USD 171.9 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Nike, Inc. are the forerunners in the Athletic Footwear Market. Companies such as FILA Holdings Corporation and Under Armour, Inc. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Adidas AG, ASICS Corporation, FILA Holdings Corporation, Under Armour, Inc., Nike, Inc., PUMA SE, VF Corporation, Lotto Sport Italia Spa, and New Balance Athletics, Inc.
By Type
By End User
By Geography
The athletic footwear market size is projected to reach USD 171.9 billion by 2028.
Increasing participation in sports and physical activities are driving the market in coming years, however, availability of low-cost local products growth of the market.
Adidas AG, ASICS Corporation, FILA Holdings Corporation, Under Armour, Inc., Nike, Inc., PUMA SE, VF Corporation, Lotto Sport Italia Spa, and New Balance Athletics, Inc.
Covid-19 has had a big impact on the sports footwear and apparel industries in the United States. In terms of brands, Nike brand footwear sales were down in the high teens, Jordan brand footwear was down in the low teens, and Converse sales were down by more than 30%.
The Running Shoes segment acquired maximum revenue share in the Global Athletic Footwear Market by Type in 2021; thereby, achieving a market value of $60.4 billionn by 2028.
The Asia Pacific market dominated the Global Athletic Footwear Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $63.3 billionn by 2028.
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