Mexico Athletic Footwear Market Research Report, 2028

Mexico Athletic Footwear Market Research Report, 2028

Actual Market Research 31-03-2023 66 Pages Figures : 6 Tables : 21 Region : North America Country : United Arab Emirates Category : Consumer Goods & Services Household Goods

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Mexico is also known for its streetwear and sneaker culture, with many young people in urban areas sporting the latest styles of athletic footwear. Sneaker culture events and stores have become popular across the country, with enthusiasts buying, selling, and trading rare and limited-edition sneakers. Furthermore, Mexican athletes have achieved success on the global stage in a variety of sports, including soccer, boxing, and track and field. This has helped to elevate the profile of athletic footwear in the country, with fans and consumers often looking to emulate the styles and brands worn by their favorite athletes. Moreover, the Mexican government has implemented policies to encourage the growth of the domestic footwear industry. These policies include tax incentives, funding for research and development, and support for small and medium-sized enterprises. As a result, there are many local manufacturers and suppliers of athletic footwear components, such as soles and uppers. In addition, the Mexican athletic footwear market is also influenced by cultural and regional factors. For instance, traditional Mexican dance shoes, such as zapateados and huapangos, have influenced the design of modern athletic shoes worn by dancers and fitness enthusiasts. According to the research report "Mexico Athletic Footwear Market Research Report, 2028," published by Actual Market Research, the Mexico Athletic Footwear market is projected to reach market size more than USD 3.77 Billion by 2028. As more people in Mexico become interested in health and fitness, the demand for athletic footwear has increased. Consumers are looking for shoes that provide support, comfort, and style and that are designed for specific activities such as running, training, and hiking. Furthermore, as the Mexican economy has grown, consumers have more disposable income to spend on discretionary items such as athletic footwear. This has created a larger market for athletic footwear brands, both domestic and international. Moreover, Mexico has a strong sporting culture, with soccer being the most popular sport in the country. However, there is also growing interest in other sports such as running, basketball, and hiking, which has driven demand for specialized athletic footwear. Moreover, athletic footwear has become increasingly popular as a fashion statement, with consumers looking for shoes that are not only functional but also stylish. Many brands have responded to this trend by releasing new and innovative designs that appeal to fashion-conscious consumers. In addition, the athletic footwear industry is constantly evolving, with new technologies and materials being developed to improve performance and comfort. Brands that are able to innovate and stay ahead of the curve are more likely to succeed in the competitive Mexican market. Based on Product Type, The market is divided into Running Shoes, Training and Walking Shoes, Sports Shoes, Aerobic and gym wear shoes, Trekking & Hiking Shoes and Others (cross-training shoes, walking shoes, dance shoes, etc.). Among them, The Running Shoes, Training and Walking Shoes has the highest market share during the forecast period. Many international athletic footwear brands have a strong presence in Mexico and offer a wide range of running, training, and walking shoes. This has led to increased competition among brands, and they are continuously introducing new and innovative products to capture a larger market share. Sports shoes are expected to have the highest CAGR during the forecast period. The trend of "athleisure" has become increasingly popular in Mexico, which refers to the blending of athletic and leisurewear clothing styles. This trend has led to a higher demand for sports shoes that are not only functional but also fashionable and versatile. Based on sports footwear type, soccer shoes have the largest market share in the US athletic footwear market. Mexico has a strong soccer culture, with many professional soccer teams and a large fanbase. This has led to a high demand for soccer shoes among both professional and amateur soccer players, as well as soccer fans who want to wear the same shoes as their favorite players. Basketball shoes are projected to have the highest CAGR during the forecast period. there has been a trend towards wearing athletic footwear as part of casual wear, and basketball shoes are often seen as fashionable and trendy. Major sports brands have also been releasing new and innovative basketball shoe designs, which can attract consumers who are looking for the latest styles. Based on End-user, The market is divided into Men, Women and kids, Among these, men segment held the largest market share in 2022. Mexico has a strong culture of machismo, where men are expected to be strong and athletic. This has led to a greater emphasis on sports and physical activity among men, which in turn has led to higher demand for athletic footwear. Women have the highest CAGR during the forecast period. There has been a rise in awareness about the importance of leading a healthy and active lifestyle, especially among women, which has further fueled the demand for athletic footwear. However, the growing popularity of sports and physical activities among children in Mexico is one of the main reasons for the growth of the kids' athletic footwear market. there has been a greater emphasis on promoting an active lifestyle among children, both at home and in schools. This has led to an increase in participation in sports and other physical activities, such as running, cycling, and playing soccer, among children. As a result, parents are increasingly looking for high-quality athletic footwear for their children that provides comfort, support, and protection during these activities. Mexico Athletic Footwear Market Based on distribution channel, Hyperment/Supermarket has the largest market share. Hypermarkets and supermarkets also offer a wide range of athletic footwear from various brands at competitive prices, making them a popular choice among consumers. These retailers have significant bargaining power due to their large purchasing volumes, allowing them to negotiate better prices with suppliers and pass on the cost savings to their customers. Some of the popular hypermarkets and supermarkets in Mexico where athletic footwear is sold include Liverpool, Palacio de Hierro, Sears, Walmart, Costco, Sam's Club, Soriana, Chedraui, Oxxo, 7-Eleven, and many more. Online distribution had the highest CAGR during the forecast period in the Mexico athletic footwear market due to the increasing trend of online shopping and the convenience it offers. Some of the popular online channels where athletic footwear is sold in Mexico are Amazon Mexico, Mercado Libre, Liverpool, Netshoes, Innovasport, Nike Mexico, Adidas Mexico, Vans Mexico, Puma Mexico, Under Armour Mexico, and many more. In Mexico, celebrities and social media influencers have a significant impact on consumer behaviour. Many athletic footwear brands have enlisted the help of popular athletes and influencers to promote their products, as this can help create buzz around new products and increase brand visibility. Some of the celebrities and influencers who have worked with athletic footwear brands in Mexico include Luis Fonsi, the Puerto Rican singer and songwriter has worked with Puma to promote their products in Mexico. Furthermore, Chicharito, the Mexican soccer player, has worked with Nike to promote their products in Mexico and around the world. Moreover, Alexa Moreno, the Mexican gymnast, has worked with Adidas to promote their products in Mexico. Furthermore, Juanpa Zurita, the Mexican actor, comedian, and social media influencer, has worked with Adidas to promote their products in Mexico. Moreover, Carlos Vela, the Mexican soccer player, has worked with Puma to promote their products in Mexico. In Mexico, there are several athletic footwear organisations, including the Mexican Athletics Federation, the Mexican Football Federation, the Mexican Triathlon Federation, the Mexican Swimming Federation, the Mexican Sports Confederation, the National Commission of Physical Culture and Sport, and the National Chamber of Footwear Industry. This entire organization plays a crucial role in organising sports events and promoting athletic footwear products. Mexico has several major sports events, including the Mexican Grand Prix and the Ironman 70.3, which provide opportunities for athletic footwear brands to showcase their products and connect with consumers. Brands also sponsor individual athletes and teams, which helps to raise brand awareness and drive sales. Some athletic footwear sports events in Mexico are the Mexican Grand Prix, Ironman 70.3, Mexican Open, Lucha Libre, Mexican National Football Team matches, Mexico City Marathon, Baja 1000 off-road race, Cabo San Lucas Half Marathon, Cozumel Ironman, Puerto Vallarta Half Marathon, and many more. Considered in this report • Geography: Mexico • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Mexico Athletic Footwear market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type: • Running Shoes, Training and Walking Shoes • Sports Shoes • Aerobic and gym wear shoes • Trekking & Hiking Shoes • Others (cross-training shoes, walking shoes, dance shoes, etc.) By Sports Type: • Tennis Shoes • Soccer Shoes • Basketball Shoes • Cricket Shoes • Others By End User: • Men • Women • Kids By Distribution Channel • Hypermarkets/Supermarkets • Specialty Stores • Brand Outlets • Online Channels • Others (General retail, B2B, etc.) The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, government-generated reports, and databases. After gathering the data from secondary sources, primary research was conducted by making telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started doing primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations and organizations related to the Athletic Footwear industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

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