According to a new report published by Allied Market Research, titled, “Baseball shoes Market by Type, Distribution Channel and Age Group: Global Opportunity Analysis and Industry Forecast, 2021-2030,”
Advancement in design and functionality of the baseball shoes and growing popularity for the baseball in emerging countries including India, Brazil, Russia, and Indonesia are projected to contribute for the growth of the baseball shoes market during the forecast period
Top Key Players:
The players operating in the baseball shoes industry have adopted product launch and business expansion as their key developmental strategies to expand their market, increase profitability, and remain competitive in the market. The key players profiled in this report include New Balance, Inc, Under Armour, Inc., Nike, Inc, Adidas AG, Mizuno Corporation, Puma, Rawlings Sporting Goods, 3N2, Fila Holdings Corp, and ASICS.
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Baseball shoes are a part of footwear, worn by individuals while playing baseball. Baseball shoes are designed for grass pitches, and have cleats on the outer side for aiding the grip. Functional features of baseball shoes are comfort, performance, protection, support and shock absorption. The primary function of all baseball shoes types is protection. It provide the feet with a firm hold, protect them from injury and improve sporting performance.
People are increasingly choosing baseball, football and other sports as a career for various job profiles including trainer, sport psychologist, sports player, and others. Baseball sports with years of experience can be offered to work in baseball sports as an instructor, coaches, commentator and others. Moreover, government has reserved quota for sports athletes in various government departments such as railway department, post office, police department, and income tax department among others. Thus, it encourage people to participate in baseball, which in turn boost the baseball shoes market growth during the forecast period.
COVID-19 has also upended the sporting calendar, with professional leagues everywhere suspending their activities to limit the spread of the virus. Strong global concerns about the pandemic coronavirus have harshly influenced the global baseball shoes market. Moreover, decreasing cases of corona virus, growing vaccination practices and increasing popularity of the baseball events in Asia-Pacific and Latin America region, are expected to drive the growth of the baseball shoes market during the forecast period.
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According to the baseball shoes market analysis, the market segmented into type, distribution channel, age group and region. On the basis of type, the market is categorized into metal cleats, molded cleats, turf cleats and interchangeable cleats. On the basis of distribution channel, the market is segmented into, brand outlets, specialty sports stores, e-commerce and others. By age group, market is categorized into, adults and kids. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, Italy, Ireland, Netherlands, Czech Republic and Rest of Europe), Asia-Pacific (Japan, Australia, South Korea, Taiwan and Rest of Asia-Pacific), and LAMEA (Dominican Republic, Cuba, Puerto Rico, South Africa and Rest of LAMEA).
On the basis of type, the interchangeable cleats segment has been gaining significant share in global baseball shoes market and is estimated to reach $585.0 million by 2030 at a CAGR of 7.2%. Interchangeable cleats are gaining considerable popularity among players owing to its flexible and convenient usage. The cleats are simply screwed in and out of the sole of the shoe. In leagues where metal cleats are allowed, interchangeable cleats are a reliable option of baseball shoes. These cleats tend to be a little heavier than the other options, but their versatility makes them a popular choice for a large number of players.
According to the baseball shoes market trends, on the basis of distribution channel, the e-commerce segment is growing at significant CAGR growth rate and is estimated to reach $1,492.7 million by 2030. E-commerce is widely accepted by consumers in developed countries of North America and Europe, owing to rise in adoption of mobile phones and increase penetration of internet. baseball shoes can be conveniently sold through E-commerce platforms. Rigorous online marketing supplemented with huge options, availability of detailed information, and discount & free home delivery offered by various e-commerce platforms have increased popularity of this distribution channel in recent years.
According to the baseball shoes market opportunities, region wise, Asia-Pacific market is expected to witness significant growth at a CAGR of 9.0% during the forecast period. Increasing disposable income, increasing participation of the people in baseball, celebrity endorsement and heavy promotion is likely to contribute for growth of the baseball shoes industry. Furthermore, increasing demand for fashionable sports footwear and apparel and desire to look like favorite baseball player are likely to increase the sales of the baseball shoes in Asia-Pacific region. In most of the countries of Asia-Pacific, baseball is less popular and hardly played including India, owing to lack awareness, guidance motivation and unavailability of resources. Popularity of other than baseball sports is more as compare to baseball sports is one of the reason to witness significantly low market for the baseball shoes in Asia-Pacific region.
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Key Findings Of The Study
- The baseball shoes market size was valued at $2,475.2 million in 2020, and is estimated to reach $6,786.3 million by 2030, registering a CAGR of 8.2% from 2021 to 2030.
- By type, the molded cleats segment is estimated to witness the significant growth, registering a CAGR of 8.8% during the forecast period.
- In 2020, depending on distribution channel, the brand outlets segment was valued at $608.9 million, accounting for 24.6% of the global baseball shoes market share.
- By age group, the adults segment is estimated to witness the significant growth, registering a CAGR of 8.1% during the forecast period.
- In 2020, the US was the most prominent market in North America, and is projected to reach $2,168.2 million by 2030, growing at a CAGR of 7.2% during the forecast period.
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