The Latin America, Middle East and Africa Athletic Footwear Market would witness market growth of 6.2% CAGR during the forecast period (2022-2028).
Athletic footwear is developed for sports, exercise, or recreational activities such as racquetball, running, or aerobic dancing. Athletic shoes include shoes for running, basketball, tennis, and other sports, but they tend to exclude football (soccer) and rugby. The shoes themselves are composed of flexible material and usually have a rubber sole. While the original design was simple, manufacturers have subsequently customized athletic shoes for the various activities in which they can be utilized. Athletic shoes have also been adapted for the casual market, and are particularly popular among teenagers. Athletic footwear, like clothes and equipment, is designed for optimum performance and is regarded part of an athlete's kit. Athletic shoes provide cushioning, stability, flexibility, traction, and durability that are tailored to various sports. The force of impact is reduced through cushioning.
The market is also being driven by raising awareness of the value of fitness and countries' increased participation in sports and activities. A rise in the number of specialty and franchised footwear stores, as well as tie-ups between footwear makers and various retail chains, has boosted the demand for athletic footwear. Various altering trends in various locations would have a favorable impact on the sports footwear industry in the medium term. Moreover, market players are involved in product advancements, such as smart footwear that calculates calories burned, would have an impact on the athletic footwear industry.
Gradually, the purchasing power of the regional population is increasing. Take, for example, the Youth Employment Decade. According to Org, Brazil's unemployment rate was 11.6 percent in 2018, down from 12.5 percent in 2017. Due to the growing development of the urban population, the Middle East is likely to see significant market expansion, resulting in an increase in the number of people participating in a variety of fitness activities. In addition, People are becoming more aware of their health and well-being, particularly in urban areas. According to World Bank.Org, the Middle East and North Africa's urban population increased to 65.679 percent in 2019, up from 65.372 percent the previous year.
Brazil has a well-developed sporting culture. Sports are diverse in nature and are not just widely played and popular among huge sectors of the public.
The Brazil market dominated the LAMEA Athletic Footwear Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,070.9 Million by 2028. The Argentina market is experiencing a CAGR of 6.8% during (2022 - 2028). Additionally, The UAE market would exhibit a CAGR of 5.9% during (2022 - 2028).
Based on Type, the market is segmented into Running Shoes, Trekking & Hiking Shoes, Sports Shoes, Walking Shoes, and Aerobic Shoes. Based on End User, the market is segmented into Men, Women, and Children. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Athletic Footwear Market is Predict to reach $171.9 Billion by 2028, at a CAGR of 4.7%
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.
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