The North America Athletic Footwear Market would witness market growth of 4.1% CAGR during the forecast period (2022-2028).
E-commerce, which entails purchasing and selling goods and services solely through electronic means, is in high demand around the world. Online shopping is the most well-known type of e-commerce. Consumers' purchase processes have been streamlined by making them easier and more convenient. In industrialized countries like the United States and Japan, online shopping is more popular than in emerging ones like India and China. The contemporary retail environment is not the same as it was ten years ago. The rise of e-commerce, which makes buying simpler, easier, and more convenient, has created a massive opportunity for the athletic footwear industry.
People are also becoming more aware of the need of wearing the right shoes for sporting activities in order to avoid muscular injuries, leg injuries, knee pain, hip discomfort, and back pain. As a result, sports shoe demand is predicted to increase dramatically in the future years. Because they are used in a variety of situations, athletic footwear goods are in high demand. Athletic footwear is worn by a wide range of people, including athletes and climbers. There is also fitness-conscious clientele, gym-goers, and those who use them for light workouts. Various varieties of athletic footwear on the market are made from high-quality raw materials like leather, foam, and plastic, and innovative chemical additives are used in the manufacturing process.
Because of the growing popularity of sports and other related activities, North America is a promising region for this industry. The large number of people who engage in outdoor sports and adventurous activities would help the market to expand further. For example, as per the Outdoor Industry Association in 2018, 50.5 percent of the US population was estimated to be engaged in outdoor activities. Furthermore, demand is projected to be fueled by the rapid rise of e-commerce businesses, which are driving product purchases. Business-to-consumer e-commerce sales in the United States were USD 1,098 billion in 2018, according to data from the United Nations Conference on Trade and Development.
In the athletic footwear sector, the United States generates the most income. Market expansion is also fueled by strong distribution networks. The market is primarily characterized by the country's constantly changing fashion trends.
The US market dominated the North America Athletic Footwear Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $35,248.7 Million by 2028. The Canada market is poised to grow at a CAGR of 6.4% during (2022 - 2028). Additionally, The Mexico market would display a CAGR of 5.5% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Athletic Footwear Market is Estimated 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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