Demand for Global Athletic Footwear Market to Grow USD 196.5 Billion in market size by 2030, Growing at a CAGR of 5%: Comprehensive Report by Facts & Factors

The global athletic footwear market size was valued at USD 127.31 billion in 2021 and is expected to surpass USD 196.5 billion by 2030, registering a CAGR of 5% during the forecast period (2022- 2030), as highlighted in a report published by Facts & Factors. The key market players listed in the report with their sales, revenues and strategies are ASICS Corporation, Reebok International Ltd., Under Armour Inc., Nike Inc., Adidas AG, Lotto Sport Italia S.p.A, and others.

/EIN News/ -- NEW YORK, USA, Feb. 02, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Athletic Footwear Market Size, Share, Growth Analysis Report By End-User (Women, Men, and Kids), By Type (Aerobic Shoes, Running Shoes, Trekking & Hiking Shoes, Sport Shoes, Walking Shoes, and Others), By Distribution Channel (Brand Stores, E-commerce, Supermarkets & Hypermarkets, Local Stores, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030” in its research database.

“According to the latest research study, the demand of global Athletic Footwear Market size & share was valued at approximately USD 127.31 billion in 2021. The market is expected to grow above a CAGR of 5% and is anticipated to reach over USD 196.5 billion by 2030.”

The report analyzes the athletic footwear market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the global athletic footwear market.

Athletic Footwear Market Overview:

An athlete is a person who participates or competes in sports events involving endurance, physical strength, and speed. Athletic footwear is designed to meet the specific requirements of sports persons which are influenced by the sport itself. Every physical activity has a set of physical strains that it lays on the person performing the event.

For instance, running shoes are designed to provide the extra comfort needed by a runner and hence they have extra padding or cushioning in the heel section of the shoe that is essential to fight the pressure generated on the legs when running on a hard surface.

On the other hand, shoes meant for soccer do not have much cushioning since soccer players have to play multiple functions apart from running. Soccer shoes have to be rigid starting from the toe section to the heel but flexible at the part where the foot bends in width. They have to fit the athlete perfectly to ensure that each connection between the foot and the ball is powerful and accurate.

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Industry Growth Drivers

The global athletic footwear market is expected to grow due to several factors with the major driving force being the excellent and exhaustive marketing activities undertaken by the current dominant players in the segment. Companies like Nike, Adidas, Under Armor, and Puma to name a few have multiple collaborations over the years of their existence to enter and explore new markets, especially the developing nations where there is significant growth in the disposable income of the population.

Growing brand awareness, rise in sports activities and participants, adoption of sports or recreational activity in school and college extracurricular activities along with high insistence of educational curriculum on the overall development of the child are other factors that are expected to influence the global market growth in the coming years.

The e-commerce business is projected to help the global market players obtain higher revenue during the forecast period since factors like attractive discount policies and higher reach to more brand options are attracting a large segment of the population toward athletic brands including footwear.

A major factor that may largely influence the global athletic footwear industry's growth is the rising awareness amongst the population about the malpractices conducted by the majority of the global market giants in terms of environmental and labor laws.

Most of these companies have production units set up in low-income countries and there have been several reported incidents highlighting the concerns regarding labor exploitation and neglecting environmental laws since the countries do not have strict regulatory means in place to monitor these companies. A large segment of people is now choosing to consciously not purchase brands that do not follow the right code of conduct.

The growing number of popular personalities entering the market could provide growth opportunities whereas the growing presence of counterfeit sellers may act as a major challenge.

Browse the full “Athletic Footwear Market Size, Share, Growth Analysis Report By End-User (Women, Men, and Kids), By Type (Aerobic Shoes, Running Shoes, Trekking & Hiking Shoes, Sport Shoes, Walking Shoes, and Others), By Distribution Channel (Brand Stores, E-commerce, Supermarkets & Hypermarkets, Local Stores, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030” Report at https://www.fnfresearch.com/athletic-footwear-market

Report Scope:

Report Attribute	Details
Market Size in 2021	USD 127.31 Billion
Projected Market Size in 2030	USD 196.5 Billion
CAGR Growth Rate	5% CAGR
Base Year	2021
Forecast Years	2022-2030
Key Market Players	ASICS Corporation, Reebok International Ltd., Under Armour Inc., Nike Inc., Adidas AG, Lotto Sport Italia S.p.A, and others.
Key Segment	By End-User, Type, Distribution Channel, and Region
Major Regions Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options	Request customized purchase options to meet your research needs.

Key Insights from Primary Research

• As per the analysis, the athletic footwear market share is likely to grow above a CAGR of around 5% between 2022 and 2030.
• The Athletic Footwear market size was worth around US$ 127.31 billion in 2021 and is estimated to hit approximately US$ 196.5 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• The market is projected to grow at a significant rate due to the growing emphasis on physical health
• Based on distribution channel segmentation, supermarkets & hypermarkets were predicted to show maximum market share in the year 2021
• Based on end-user segmentation, men were the leading users in 2021
• On the basis of region, North America was the leading revenue generator in 2021

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Athletic Footwear Market: Segmentation Analysis

The global athletic footwear market is segmented based on end-user, type, distribution channel, and region.

Based on end-user, the global market is segmented as women, men, and kids.

• In 2021, the global market was dominated by the men's segment and is expected to continue with its growth trend with the women segment contributing significantly during the forecast period
• Although the number of women undertaking sports and recreational activities is growing consistently over the year, numerically the ratio of men to women visiting sports centers is higher in favor of men
• As per Gauthmath, the said ratio stands at 14:9

Based on type, the global market is divided into aerobic shoes, running shoes, trekking & hiking shoes, sports shoes, walking shoes, and others.

• In 2021, the highest CAGR was observed in the running shoes segment due to the increased number of people who chose to undertake open-air activities during the lockdown impositions restriction closed sports centers from operating
• Running is by far one of the most preferred choices of outdoor sports activity
• A 2017 report by Eurostat concluded that almost 40% of Europeans spent almost 2.5 hrs weekly on some kind of physical sport.

Regional Analysis:

North America is anticipated to lead the global athletic footwear market mainly driven by the high number of people including men, women, and children that participate in some form of sports activity. Some of the common everyday sports in the US are tennis, basketball, and golf. Growth in Europe is expected to be driven by high brand awareness and the growing importance of physical health propelling more people to exercise regularly.

The presence of a large number of high-income groups and the general tendency of the population to purchase branded footwear could lead to more regional revenue. Asia-Pacific is set to register significant growth mainly driven by the growing e-commerce business and the rising population.

Competitive Players

The report contains qualitative and quantitative research on the global athletic footwear market, as well as detailed insights and development strategies employed by the leading competitors.

Some of the main players in the global Athletic Footwear market include;

• ASICS Corporation
• Reebok International Ltd.
• Under Armour Inc.
• Nike Inc.
• Adidas AG
• Lotto Sport Italia S.p.A.

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Recent Industry Developments:

• In January 2022, Tata Cliq, an Indian e-commerce company, announced the launch of a new athletic footwear brand called Hoka One One on its luxury segment platform. The new range offers sneakers, running shoes, and slip-on with around 60 different types of shoe designs
• In December 2021, World Athletics reported that the rules surrounding running shoes used in Olympic events will be tightened after the Paris Olympics to be held in 2024. The move is influenced by the general observation that foam and carbon soles are helping in improving performance. The association will be conducting post-race spot checks by introducing new show control processes

The global athletic footwear market is segmented as follows:

By End-User

• Women
• Men
• Kids

By Type

• Aerobic Shoes
• Running Shoes
• Trekking & Hiking Shoes
• Sport Shoes
• Walking Shoes
• Others

By Distribution Channel

• Brand Stores
• E-commerce
• Supermarkets & Hypermarkets
• Local Stores
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Southeast Asia
• The Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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