Global Athletic Footwear Market Set For Rapid Growth, To Reach USD 115,620.98 Million By 2024

03-Aug-2018 | Zion Market Research

Zion Market Research has published a new report titled “Athletic Footwear Market By Product Type (Sports Shoes, Running and Walking Shoes, Hiking and Backpacking Shoes, and Aerobic and Gym Wear Shoes), and By End-User (Men, Women, And Kids): Global Industry Perspective, Comprehensive Analysis And Forecast, 2017 – 2024”. According to the report, the global athletic footwear market was valued at around USD 92,575.33 million in 2017 and is expected to reach approximately USD 115,620.98 million by 2024, growing at a CAGR of around 3.3% between 2018 and 2024.

The footwear designed for sports and other activities such as exercise are generally called athletic footwear. Originally, they were mostly used as sportswear; nevertheless, nowadays they are worn as casual footwear. Athletic footwear has several types which comprise trainers, sneakers, tennis shoes, gym shoes, running shoes, sports shoes, etc. Increasing preferences for sports along with health awareness is expected to bolster the growth of the global athletic footwear market over the forecast period.

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Global Athletic Footwear Market

The developments in the sports shoes is another key factor enhancing the growth of the market, especially among the premium consumers within the forecast period. Moreover, increasing participation in international sporting events including the Olympics, FIFA World Cup, and the ICC World Cup are anticipated to fuel the demand for sports shoes across the globe. The huge pool of young population along with the increasing trend of e-commerce are important factors shaping the path of the global athletic footwear market. Furthermore, increasing disposable income with a growing standard of living is predicted to trigger a swift uptake of athletic footwear. Increasing the number of cycling, fitness, and trekking enthusiasts also predict strengthening the growth of the market in the near future. However, the lower profit margin anticipates creating challenges for the players operating in the market. Nevertheless, growing concerns regarding the manufacturing and disposal of the product owing to the carbon footprint is anticipated to hamper the growth of the global athletic footwear market, especially in the footwear manufacturing countries.

Based on the product type the global market is classified as aerobic and gym wear shoes, hiking and backpacking shoes, running and walking shoes, and sports shoes. By end-user, the global athletic footwear market is categorized into man, women, and kids. Among which, the sports shoe segment is expected to account for substantial value share in the market within the forecast period.

Based on the end-user segmentation, men’s footwear segment is anticipated to account for significant revenue share, which is around 50% of the value share. However, women’s footwear segment is expected to expand at a relatively high growth rate over the forecast period.

The global athletic footwear market is majorly categorized into the Middle East and Africa, Latin America, Asia Pacific, Europe, and North America. Among the aforementioned regions, Asia Pacific athletic footwear market is likely to expand at a rapid rate having a major share in the global market. The region is estimated to account for half of the volume share in the global market. Increasing participation in sporting activities by the population of Asia Pacific is anticipated to propel the global athletic footwear market over the forecast period. The remarkable rise in the disposable incomes and the huge population base also has a major impact on the athletic footwear market across the region.

Some of the key manufacturers involved in the global athletic footwear market are Nike, Inc., Adidas AG, New Balance, Inc., Skechers Inc., Asics Corporation, Puma SE, Under Armor, Reebok International Ltd., Vans, Inc., and K-Swiss Inc. The report includes detailed profiles including a company overview, key developments, business strategies, financial overview, etc. of key players operating in the global market.

This report segments the global athletic footwear market as follows:

Global Athletic Footwear Market: Product Type Segment Analysis

  • Sports Shoes
  • Running and Walking Shoes
  • Hiking And Backpacking Shoes
  • Aerobic And Gym Wear Shoes 

Global Athletic Footwear Market: End-User Segment Analysis

  • Men
  • Women
  • Kids

Global Athletic Footwear Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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