According to a new report published by Allied Market Research, titled, “athletic footwear market by type, end user, and distribution channel: global opportunity analysis and industry forecast, 2021–2030,” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
The global athletic footwear market was valued at $109.7 billion in 2020, and is projected to reach $165.0 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030.
Rise in number of sports activities, surge in government investment in sports events, growing number of outlets, and emergence of new designsdrive the growth of the global athletic footwear market. However,rise in prices of raw materials, availability of counterfeit products, and increase in environmental concernshinder the market growth. On the other hand, changes in consumer’s lifestyle, growth in fashion trends, and emerging role of e-commerce present new opportunities in the coming years.
Changing paradigm of educational system supports growth of the sports industry and industries dependent on it. In addition, rise in sports education and sports training in academics has significantly increased awareness toward sports and fitness. Thus, many schools/educational institutes offer training to students, providing them an opportunity to compete in various sports competitions.
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Based on end user, the men segment held the highest market share in 2020, accounting for nearly half of the global athletic footwear market, and is estimated to maintain its leadership status throughout the forecast period. This is due to rise in recreational and sports activities among men. However, the women segment is projected to manifest the highest CAGR of 5.2% from 2021 to 2030. This is dueto upsurge in participation of women in outdoor activities sports such as trekking, hiking, football, biking, and tennis.
The hypermarket/supermarket segment to maintain its lead position during the forecast period.
Based on distribution channel, the hypermarket/supermarketsegment accounted for the largest share in 2020, contributing more than one-third of the global athletic footwear market, and is projected to maintain its lead position during the forecast period. For all the needs of consumers, supermarkets & hypermarkets are considered to be a one-stop shop and provide all the things that an individual may need every day. This factor made the segment highest revenue generating segment.However, the online channels segment is expected to portray the largest CAGR of 5.6% from 2021 to 2030.
Based on region, Asia-Pacific, followed by Europe & North America, held the highest market share in terms of revenue 2020, accounting for more than one-third of the global athletic footwear market. Moreover, the same region is expected to witness the fastest CAGR of 5.0% from 2021 to 2030. Consumers are becoming more conscious about their health and fitness in countries such as India, China, and Japan, which has fostered the athletic footwear market in these regions.
The key market players profiled in the report include:
• Asics Corporation
• Adidas group
• PUMA SE
• VF Corporation
• Nike, Inc.
• FILA Korea, Ltd.
• New Balance, Inc.
• SKECHERS, Inc.
• K-Swiss, Inc.
• Wolverine World Wide, Inc
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Key findings of the study
• Asia-Pacific is a lucrative market, in terms of growth, on account of increasing disposable income, rising health awareness, and increasing demand for fashionable athletic footwear.
• The men segment is the highest revenue-generating segment in the global athletic footwear market, followed by the women segment.
• The soccer shoes segment is expected to be the fastest growing segment ofathletic footwear market, followed by basketball shoes segment.
• The hypermarkets/super markets segment is the dominating distribution channel worldwide in athletic footwear market.
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