The Athletic Footwear Market incorporates sportswear, trekking shoes, aerobics shoes, walking shoes, and running shoes. Increased awareness regarding healthy lifestyle that motivates people to engage into some kind of sports activity will drive the industry in the coming years. This motivated the leading brands to come up with innovative and comfortable sports footwear products. Growth in wholesale and retail business, efficient supply chain, consumers’ willingness and increased purchasing power have fueled the global athletic footwear market.
Presently, men’s athletic footwear market captures about 60% of overall revenue generated. Women’s footwear accounts for around 25% share, with the rest occupied by products for children, which are estimated to witness rapid revenue growth.
Major driving forces for growth are increase in disposable income in developing economies, growing global population, rapidly spreading awareness about health and fitness, and the corresponding rise in demand for comfortable, innovative and affordable products. The increasing popularity of sports events such as the Olympics, FIFA World Cup, ICC World Cup, etc. has accelerated athletic footwear market.
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Counterfeiting of products offered by global brands, strong competition from local manufacturers, sensitivity to seasonal changes, and evolving consumer preferences may hinder growth. The middle class population is price sensitive in nature, which may bring down overall revenue. Rise in prices of synthetic rubber, which is used as a major raw material will result in increasing athletic footwear market price trend.
The industry is segmented by consumer groups, category, and retail channel. Consumer groups include men, women and kids. Category wise classification mainly comprises inserts used in aerobics, running, walking shoes, and athleisure. This segment accounted for nearly 35% of the global athletic footwear market size, with CAGR estimations of 1.7% from 2016 to 2023. Other categories include sports, which contains products suited for various sports such as baseball, basketball, soccer, tennis, cricket, etc. This application area occupied majority of the overall volume share in 2015. Hiking includes trekking and walking boots, rugged footwear, mountaineering shoes, specialty boots, and seasonal boots.
The ecosystem is dominated by five leading brands that collectively account for around 80% of the global athletic footwear market share. Major players are Reebok, Puma, Nike, Adidas, Asics, New Balance Skechers, Converse, Vans, and Saucony.
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The key deciding factors for gaining profitability and competitive advantage are enhancing R&D capabilities, building strong brand equity, strong capital resources and efficient network management which will help companies to stay ahead in the competition.
This latest Athletic Footwear Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Athletic Footwear industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
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Key Insights in this Report
- Global Athletic Footwear Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Athletic Footwear Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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