South Korea Athletic Footwear Market Research Report, 2028

South Korea Athletic Footwear Market Research Report, 2028

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

South Korean consumers are known for their fashion-forward and trend-driven approach to athletic footwear, with a strong emphasis on style and design. South Korea has a diverse natural environment that is ideal for a range of outdoor activities, including hiking, camping, and mountaineering. As more South Koreans become interested in these activities, the demand for specialized athletic footwear products that can handle the demands of these environments continues to grow. Furthermore, as more South Koreans become interested in sports and fitness, the demand for high-quality athletic footwear products continues to rise. This trend is driven by a variety of factors, including increased awareness of the importance of exercise for overall health and wellbeing, as well as the popularity of sports and fitness culture among young people. Furthermore, there has been a growing awareness of the importance of physical activity and exercise for overall health and wellness. This trend is driven by a range of factors, including an aging population, rising healthcare costs, and concerns over chronic diseases such as obesity and diabetes. Moreover, K-Pop stars and other celebrities have a significant influence on consumer behavior in South Korea, and endorsements from these influencers can help drive sales of athletic footwear products. Many companies partner with celebrities and social media influencers to promote their products and increase brand awareness. According to the research report "South Korea Athletic Market Research Report, 2028," published by Actual Market Research, the South Korea Athletic market is expected to add USD 1.7 Billion by 2028. Based on product type, 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.). Among them, the running shoes, training shoes, and walking shoes had the highest market share during the forecast period. As more South Koreans become interested in fitness and training, there has been a growing demand for specialized training shoes. These shoes are designed to offer support and stability during a wide range of training activities, including weightlifting, cross-training, and aerobics. Sports shoes are expected to have the highest CAGR during the forecast period. South Koreans are increasingly interested in participating in a variety of sports, including basketball, soccer, and tennis. This has led to a growing demand for sports shoes that are specifically designed to support these activities. Furthermore, based on sports footwear type, soccer shoes have the largest market share in the South Korean athletic footwear market. Soccer is a popular sport in South Korea, with many people participating in local and national leagues. This has led to a high demand for soccer shoes, which are specifically designed to provide traction, stability, and support on the soccer field. South Korean 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 South Korea where athletic footwear is sold include E-Mart, Homeplus, Lotte Mart, Costco, Shinsegae Department Store, Hyundai Department Store, Galleria Department Store, AK Plaza, NC Department Store, Megabox, and many more. Online distribution had the highest CAGR during the forecast period in the South Korean 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 South Korea are Gmarket, Coupang, 11st, Wemakeprice, Auction, Interpark, Musinsa, SSG, Lotte On, Kmall24, and many more. The South Korean government has taken several initiatives to promote athletic footwear and encourage physical activity among its citizens. Some of these initiatives include The National Health Promotion Act promotes healthy lifestyles and physical activity through various programs and initiatives. The government provides funding for sports facilities and equipment, and encourages businesses to promote physical activity among their employees. Furthermore, The Sports Promotion Act provides support for sports organizations and athletes, and encourages the development of sports-related industries. The government provides funding for sports-related research and development, and promotes sports tourism. Moreover, The South Korean government promotes physical education in schools, with a focus on developing healthy habits and promoting physical activity. The government also provides funding for after-school sports programs and activities. In addition, The National Fitness Award program encourages individuals and organizations to promote physical activity and healthy lifestyles. The program recognizes those who have made significant contributions to the promotion of physical activity and healthy living. Celebrity endorsements and sponsorships have a significant impact on the athletic footwear market in South Korea, as they can help to increase brand awareness and credibility among consumers. Some of the most successful brands in leveraging celebrity endorsements in the South Korean market include Nike, which has worked with several high-profile South Korean celebrities, including BTS, one of the most popular K-pop groups in the world. Furthermore, Puma has worked with EXO, a popular South Korean boy band, as well as other South Korean celebrities, such as actress Krystal Jung. Moreover, Adidas has also worked with several South Korean celebrities, including G-Dragon, a popular musician and fashion icon. Furthermore, New Balance has worked with several South Korean athletes, including Olympic gold medalist Park Tae-hwan. Moreover, Under Armour has worked with mixed martial artist Kim Dong-hyun as well as other South Korean athletes. In addition, Reebok has worked with actress and model Lee Sung-kyung, as well as other South Korean celebrities. Start-ups: • Resik is a start-up that specializes in sustainable athletic footwear made from recycled materials. The company's shoes are designed to be both stylish and eco-friendly, appealing to consumers who are looking for more sustainable options. • Yumway is a start-up that creates customized athletic footwear using 3D printing technology. The company's shoes are designed to fit each individual customer's foot shape and size, providing a personalized and comfortable fit. • Attago is a start-up that focuses on creating minimalist athletic footwear that is designed to improve posture and reduce the risk of injury. The company's shoes are made with high-quality materials and are designed to be both functional and fashionable. • KINZ is a start-up that creates athletic footwear that incorporates traditional Korean elements, such as hanji paper and hanbok fabric. The company's shoes are designed to be both stylish and unique, appealing to consumers who are looking for something different. • Beslow is a start-up that creates athletic footwear using sustainable materials and production methods. The company's shoes are designed to be both eco-friendly and stylish, appealing to consumers who are looking for more ethical and sustainable options. Considered in this report • Geography: South Korea • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • South Korea 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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