Allied Market Research recently published a report, titled, “Tennis Shoes Market by Playing Surface (Hard Court Tennis Shoes, Clay Court Tennis Shoes, and Grass Court Tennis Shoes), User (Men, Women, and Kids), and Distribution Channel (Supermarket/Hypermarket, Specialty Stores, E-Commerce, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2028″.As per the report, the global tennis shoes market was accounted for $2.19 billion in 2020, and is expected to garner $2.60 billion by 2028, registering a CAGR of 2.8% from 2021 to 2028.
Major determinants of the market growth
Increase in preference for tennis as a lifetime sport, rise in initiatives for improving tennis participation, and rapid launch of innovative products drive the global tennis shoes market. On the contrary, popularity of eSports among youth and availability of counterfeit products hinder the market growth. However, emergence of smart technology in shoes would open new opportunities in the coming years.
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Major market players
- ADIDAS Group
- ASICS Corporation
- FILA Holdings Corp.
- Lotto Sport Italia S.p.A.
- New Balance, Inc.
- Nike, Inc.PUME SE
- Wilson Sporting Goods Company
- The Covid-19 pandemic resulted in the cancellation of major sports tournaments which negatively affected the demand for tennis shoes.
- The strict lockdown regulations imposed by several governments temporarily suspended the manufacturing activities of tennis shoes. Furthermore, the ban on import-export has disrupted the supply chain and surged the prices of raw materials.
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The hard-court tennis shoes segment dominated the market
Bytype, the hard-court tennis shoes segment held the largest share in 2020, contributing to nearly half of the global tennis shoes market. Moreover, the segment is expected to manifest the highest CAGR of 2.6% during the forecast period, due to high popularity and preference of hard courts because of its affordability.
The supermarket/hypermarket segment held the largest share
Bydistribution channel, the supermarket/hypermarket segment held the lion’s share 2020, accounting for more than one-third of the global tennis shoes market, due to its wide-scale penetration and popularity in the leading markets. However, the e-commerce segment is projected to portray the highest CAGR of 2.9% from 2021 to 2028, owing to growing digital infrastructure, wide-scale penetration of internet,and aggressive marketing by the e-commerce platforms such as Amazon, eBay, and WalMart.
North America held the lion’s share
By region, the market across North America held the largest share in 2020, contributing to nearly two-fifths of the market, due tohigh participation rate in tennis, high disposable income, demand for an active and healthy lifestyle, and demand for comfortable tennis footwear. However, the global tennis shoes marketacross Asia-Pacific is projected to manifest the highest CAGR of 2.7% during the forecast period, owing to presence of larger tennis-playing population.
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