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The global athletic footwear market is anticipated to reach USD 179.19 billion by 2028, with a significant CAGR of 5.04% from USD 134.16 billion in 2022, driven by an upward trend in sports and fitness activities- Actual Market Research
Mar, 31
2023

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The global athletic footwear market is anticipated to reach USD 179.19 billion by 2028, with a significant CAGR of 5.04% from USD 134.16 billion in 2022, driven by an upward trend in sports and fitness activities- Actual Market Research

 

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The global athletic footwear market is a highly competitive and rapidly evolving industry that is driven by factors such as changing consumer lifestyles, increasing health consciousness, and growing interest in sports and fitness activities. Athletic footwear is designed to provide comfort, support, and protection to athletes and fitness enthusiasts, while also improving performance and reducing the risk of injury. The market is characterized by a diverse range of products, including running shoes, training shoes, basketball shoes, soccer shoes, and others, with each segment catering to specific athletic activities and consumer preferences. Major market players are investing heavily in product development, marketing and advertising, and expansion into new and emerging markets to stay competitive and maintain their market position. Additionally, sustainable and eco-friendly materials are increasingly being used in athletic footwear production, reflecting growing consumer demand for socially responsible and environmentally conscious products. With these and other factors shaping the industry, the global athletic footwear market is expected to continue growing and evolving in the years to come. Furthermore, the global athletic footwear market is highly competitive, with many players vying for market share. Major brands such as Nike, Adidas, Under Armour, and Puma are among the market leaders, but smaller players are also making their mark with innovative products and marketing strategies. In addition, Celebrity endorsements and sponsorships have a significant impact on the global athletic footwear market, as they can help brands to increase their visibility, reach new audiences, and build credibility with consumers.

According to the research report, “Global Athletic Footwear Market Research Report, 2028”, published by Actual Market research the market is anticipated to reach USD 179.19 Billion by 2028 with a significant CAGR of 5.04% from USD 134.16 Billion in 2022. The market is divided into running shoes, training and walking shoes, sports shoes, aerobic and gym wear shoes, trekking and hiking shoes, and others (cross-training shoes, walking shoes, dance shoes, etc.). Running, training, and walking shoes had the highest market share in 2022, accounting for 56.82 percent. Running, training, and walking are all popular activities around the world, with many people doing them for fitness and health reasons. Tennis shoes, soccer shoes, basketball shoes, cricket shoes, and other types of shoes are available on the market. Soccer shoes dominated the market in 2022, accounting for more than 58% of total sales. Soccer is the most popular sport on the planet, with millions of fans and players worldwide. As a result, there is a high demand for football shoes. In terms of end-users, men will be the most numerous in 2022. Around the world, men are frequently encouraged to be physically active and participate in sports from a young age. Men's demand for athletic footwear is driven by this cultural norm. Furthermore, many women are becoming more health-conscious and incorporating regular exercise into their daily routines. As a result, there is a higher demand for athletic footwear that is comfortable, supportive, and suitable for a wide range of workouts. Furthermore, as the prevalence of childhood obesity rises and parents become more aware of the value of physical activity, they encourage their children to participate in sports and outdoor activities. As a result, the demand for athletic footwear for children has increased.

In the global athletic footwear market, some of the most recent mergers, acquisitions, and collaborations include Puma announced a long-term partnership with Brazilian football star Neymar Jr. in February 2021. The collaboration includes the launch of Neymar Jr.'s own line of signature products, as well as marketing campaigns and events. Furthermore, Adidas announced a partnership with sustainable footwear brand Allbirds in March 2021. The collaboration will include the creation of a co-branded shoe that combines Adidas' performance technologies with Allbirds' sustainable materials. VF Corporation announced the acquisition of the performance footwear brand Altra in April 2021. The acquisition will help VF Corporation expand its portfolio in the performance and trail running markets. Furthermore, Nike announced in May 2021 that it had acquired Datalogue, a New York-based data analytics company. The acquisition aims to improve Nike's data analytics capabilities and ability to personalize the customer experience.

Governments around the world have established regulations that require athletic footwear products to meet certain safety standards. These regulations typically cover issues such as materials, construction, labelling, and testing and are designed to ensure that products are safe for consumers to use. Furthermore, the production of athletic footwear products can have a significant environmental impact, and governments have established regulations aimed at minimizing this impact. These regulations typically cover issues such as waste management, energy use, and emissions and require companies to comply with environmental standards and regulations. Governments also regulate trade in the athletic footwear industry through measures such as tariffs, quotas, and trade agreements. These regulations can impact the competitiveness of companies in the industry and affect their ability to access international markets.

According to the report, the market distribution channel is divided into hypermarkets and supermarkets, specialty stores, brand outlets, online channels, and others. Hypermarkets and supermarkets have the largest market share in the global athletic footwear market. Walmart, Target, Tesco, Carrefour, Auchan, Aldi, Lidl, Kroger, Costco, Metro AG, Sainsbury's, Asda, Morrisons, Woolworths, Coles, and many others are among the popular hypermarkets and supermarkets in the global marketplace where athletic footwear is sold. In the global athletic footwear market, online distribution had the highest CAGR during the forecast period. Amazon, Nike, Adidas, Zappos, Foot Locker, JD Sports, Finish Line, Eastbay, ASOS, DSW, Under Armour, Puma, Reebok, New Balance, and others are some of the popular online channels where athletic footwear is sold in the global marketplace.

There are some popular events that provide a significant platform for athletic footwear companies to showcase their products and gain exposure to a global audience, which can lead to increased sales and brand recognition. Some of them are The Olympic Games are one of the most prestigious sporting events in the world, and they are a platform where athletes from around the world showcase their skills. Athletic footwear companies often sponsor teams and individual athletes, and the exposure they receive during the Olympics can boost their sales significantly. Furthermore, the FIFA World Cup is the most-watched sporting event in the world, and it is a platform where top soccer players from around the world compete. Athletic footwear companies often sponsor national soccer teams and individual players, and the exposure they receive during the World Cup can boost their sales significantly. Moreover, the NBA Finals is the championship series of the National Basketball Association (NBA) in North America, and it is one of the most-watched sporting events in the world. Athletic footwear companies often sponsor NBA teams and individual players, and the exposure they receive during the NBA Finals can boost their sales significantly. In addition, Sneaker Con is a popular event that brings together sneaker enthusiasts from around the world to buy, sell, and trade sneakers. The event is a great opportunity for athletic footwear brands to showcase their latest products and engage with their target audience.

The Asia Pacific athletic footwear market is expected to grow at more than 4.5% CAGR from 2023 to 2028. According to the report, the market is segmented into five major countries, including China, Japan, India, Australia, and South Korea. Among them, China is the major provider of athletic footwear products across the globe, which significantly encourages its global trade operations. Some of the most successful brands in leveraging celebrity endorsements and sponsorships in the Asia Pacific region include Nike, The American sportswear giant has partnered with several high-profile athletes and celebrities in the Asia-Pacific region, including Chinese basketball player Yao Ming and Indian cricket star Virat Kohli. In North America, the market is categorized into three major countries, including the United States, Canada, and Mexico. Among them, the United States is expected to dominate the market by the next time period. The demand for athletic footwear in the United States is being driven by an increase in interest in health and fitness activities. The demand for specialized athletic shoes is growing as more people participate in running, cycling, basketball, and other sports and fitness activities. There are many celebrities and influencers who have a significant influence on the North American athletic footwear market. Some of them are from Beyonc?'s collaboration with Adidas on a line of athletic footwear and apparel called Ivy Park. Furthermore, Michael Jordan's line of athletic footwear, Air Jordan, is one of the most iconic and popular brands in the North American market. Moreover, Kylie Jenner has promoted a range of athletic footwear brands on her social media accounts, including Adidas and Puma.

The global athletic footwear market has been facing several restraints that are impacting its growth and performance. One of the primary challenges is the rising cost of raw materials, such as rubber, leather, and synthetic materials, which are used in the production of athletic footwear. The increasing cost of these materials is putting pressure on manufacturers to either absorb the additional costs or pass them on to consumers, which can impact demand and pricing. Furthermore, changing consumer preferences and trends are also posing challenges to the athletic footwear market. For instance, consumers are increasingly focused on sustainability and are demanding products that are eco-friendly and ethically produced. Brands that fail to meet these demands risk losing market share to competitors that offer more sustainable options.

Developments:
• In 2022, Asics Corporation has launched new shoes named Novablast 3. These shoes have a geometric Origami design with unique cushioning and Asics technology, which provides a bouncing running experience.
• In 2021: Adidas has launched a golf shoe named “Solarthon”, which is both comfortable and lightweight. Further, the brand goals to introduce Solarthon in limited-edition blue, grey and white colorways. This new shoe features Adidas’ Primeblue textile uppe which is a recycled yarn. This yarn is containing at least 50% Parley Ocean Plastic, which help the company’s “End Plastic Waste” initiative.