The global athletic footwear market was valued at $127.3 billion in 2021 and it is expected to reach $214.5 billion at a CAGR of 4.7% between 2022 and 2032. The primary drivers fueling the market expansion are thought to be increasing consumer disposable income, a booming global retail e-commerce industry, and growing passion and understanding of the health advantages of sports and fitness activities. To live a healthy lifestyle, young people are becoming more involved in sports and other related activities.
Source: SAI Research
Sports, exercise, or leisurely pursuits like racquetball, running, or aerobic dancing are the main focus and purposes of athletic footwear. Running, basketball, tennis, and other sports shoes are considered athletic shoes. However, football and rugby are typically not included. The soles of the shoes are often made of rubber and are made of flexible material. Although the initial design was straightforward, manufacturers have since modified athletic shoes for the numerous sports and activities they might be used for. Athletic shoes are very well-liked among youngsters and have been worn frequently for casual attire.
Additionally, people are becoming more and more aware of the significance of wearing the proper footwear when participating in sports to avoid back pain, knee discomfort, hip pain, and back injuries as well as muscle and leg injuries. As a result, throughout the upcoming years, it is anticipated that the demand for athletic shoes would significantly increase. Due to its use in a variety of settings, athletic footwear items are experiencing a rapid increase in demand. Athletes and climbers are just two examples of the many consumers that utilize athletic footwear. Additionally, some clients care about their fitness, gym users, and those who use them for light exercise routines.
Moreover, sales expansion across online platforms, the introduction of new products, and appealing marketing and promotional techniques employed by the companies have all contributed to the growth of the athletic footwear market. The market is extremely competitive as a result of players investing a lot in brand creation and marketing platforms. This draws attention to their presence and contributes to the development of their brand's reputation. The development and improvement of footwear is a major focus of modern research in athletic footwear. Customers are increasingly wearing the best shoes for sports to avoid hip, knee, back, and leg pain as well as muscle and bone problems.
Furthermore, the market for athletic footwear is anticipated to expand due to the increase in sporting events. Sports tournaments are competitions in which sizable groups of competitors go up against one another in a predetermined format to select the ultimate champion. More and more people are taking part in local or regional competitions to show off their talents and represent their nation abroad. As a result, throughout the upcoming years, it is anticipated that the demand for athletic shoes would significantly increase.
Based on footwear type, the running shoe segment accounted for the largest share of this market and is also anticipated to accelerate the market growth due to its rising demand among a large number of sportspersons and other consumers. Shoes for running are necessary for training, advanced running, road running, trail running, track running, and competition. Growing participation in sports like cricket, soccer, and golf, among others, as well as the rising demand among athletes for high-end athletic shoes, are the main reasons that are expected to propel the market growth. However, the trekking and hiking segment is also anticipated to boost market growth over the forecast period. In the current global economy, consumers are reluctant to adopt a more sedentary lifestyle, which has raised concerns about the need for consumers to engage in activities like walking and running that support their well-being management. This is the main cause of the growing customer preference for running shoes in the market.
In terms of gender type, the men's category has been dominating the athletic footwear market across the globe. Moreover, over the past few years, the women segment is also rising with sports opportunities which would also drive the market growth. As women's interest in sports continues to rise, particularly in previously untapped countries, women's footwear is increasingly catching up. In contrast to developing and undeveloped nations, most industrialized nations place a premium on the number of female athletes who represent their countries at international sporting events.
Through the distributional channel, supermarkets and hypermarkets both have dominated the global athletic footwear market. Several key players focused on creating innovative products with more technological advancements with better materials. At present time, the online retail store has been growing. A large number of consumers related to various types of sports activities are purchasing advanced footwear according to their preferences. Moreover, major drivers of this segment's revenue growth include increased Internet usage accessibility, rising smartphone and tablet penetration, the rising trend of online shopping, and expanding the availability of sports footwear on various e-commerce websites.
Geographically, the Asia-Pacific region is expected to dominate the market over the forecast period due to the rising number of footwear related to various kinds of sports activities. The availability of inexpensive raw materials, the concentration of top footwear producers, and the low cost of labor are the main drivers of this region's dominance. Additionally, it is predicted that expanding e-commerce and rising disposable income levels will significantly contribute to the growth of the sports footwear market in the Asia Pacific region. On the other hand, North American countries such as the U.S, Canada, and Mexico among others are also expected to boost the market throughout the upcoming years.
According to the study, key players such as Adidas AG (Germany), Authentic Brands Group (U.S), Aldo Group (Canada), ASICS (Japan), BATA (Switzerland), Converse (U.S), Columbia Sportswear (U.S), Financiere Pinault SCA (France), FILA (South Korea), K-Swiss (U.S), Lotto Sports (Italy), Maus Freres (Switzerland), Nike (U.S), New Balance (U.S), Skechers (U.S), Under Armour (U.S), VF Corporation (U.S), Vans (U.S), Wolverine World Wide (U.S), Zara (Spain), among others are leading the global athletic footwear market.
|Market Size in 2021
|US$ 127.3 Billion
|Market Volume Projection by 2032
|US$ 214.5 Billion
|Forecast Period 2022 to 2032 CAGR
|2019, 2020 and 2021
|2022 to 2032
By Footwear Types: Aerobic Shoes, Running Shoes, Walking Shoes, Trekking and Hiking Shoes, Sports Shoes & Others
By End-User Type: Menm, Women & Others
By Distribution Type: Hypermarkets, Supermarkets, Brand Outlets, Online Channel & Others
North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
|Adidas AG (Germany), Authentic Brands Group (U.S), Aldo Group (Canada), ASICS (Japan), BATA (Switzerland), Converse (U.S), Columbia Sportswear (U.S), Financiere Pinault SCA (France), FILA (South Korea), K-Swiss (U.S), Lotto Sports (Italy), Maus Freres (Switzerland), Nike (U.S), New Balance (U.S), Skechers (U.S), Under Armour (U.S), VF Corporation (U.S), Vans (U.S), Wolverine World Wide (U.S), Zara (Spain), among others are leading the global athletic footwear market.
The Global Athletic Footwear Market – by Footwear Types:
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