According to a new report, published by KBV research, 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.
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 billion by 2028. This can be ascribed to the widespread use of running shoes and the availability of these shoes in a wide range of pricing, from low-cost athletic shoes to high-end athletic shoes. Shoes for training, advanced running, road running, trail running, track running, and racing are all included in the category of running shoes.
The Women segment is showcasing a CAGR of 5% during (2022 - 2028). Women's footwear is increasingly catching up as the popularity of sports among women grows, particularly in previously untapped markets. When compared to developing and undeveloped countries, the proportion of women athletes representing their respective countries in major sporting events is significant in most developed countries. Furthermore, advanced countries have a far higher total level of fitness awareness among women than underdeveloped countries. However, in developing nations, the situation is gradually changing as a result of government programs to promote women to participate actively in sports and other fitness-related activities.
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 billion by 2028. The Europe market is estimated to witness a CAGR of 4.3% during (2022 - 2028). Additionally, The North America market would exhibit a CAGR of 4.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/athletic-footwear-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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