Global Athletic Footwear Market is valued at approximately USD 127.3 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.9% over the forecast period 2023-2030. Athletic footwear, also known as sports shoes or sneakers, is a type of footwear designed specifically for physical activities and sports. These shoes are engineered to provide comfort, support, stability, and protection to the wearer during various athletic pursuits. The Athletic Footwear market is expanding because of increasing sports activities, a Surge in government investment in sports events and growing health awareness.
As the popularity of sports and physical activities increases, more people engage in various sports, including running, basketball, soccer, tennis, and so on. Each sport requires specific footwear designed to provide the necessary support, cushioning, traction, and stability. As more individuals participate in these activities, the demand for specialized athlete footwear rises. For instance, the Sports & Fitness Industry Association and Sports Marketing Surveys USA’s annual State of the Industry Report in 2022, stated that nearly 232.6 million Americans participated in sports and fitness activities in 2021, the most since 2016. Moreover, The Outdoor Participation Trends Survey 2022 estimates that 58.7 million Americans hiked in 2021. Furthermore, according to data from the Australian Sports Commission’s (ASC) AusPlay Survey, 55% of women and 67.3% of children who play sports in Australia participate in sports-related activities. Thus, rising sports activities across the world are driving market growth. In addition, increasing sports infrastructure facilities and the growing number of fitness centers and gyms are creating new opportunities for market growth. However, increasing environmental concerns and rising prices of raw materials stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Athletic Footwear Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to factors such as the rising number of sports and physical activities, rising gym membership, rising number of sports events, and increasing development of new designs. Whereas, Asia Pacific is projected to register the fastest growth owing to factors such as increasing investment in sports infrastructure, rising sports participation, and a rising number of sports events in the region.
Major market player included in this report are:
Fila Korea Co., Ltd.
Under Armour, Inc.
Lotto Sport Italia S.p.A
New Balance Athletics, Inc.
Reebok International Ltd.
Recent Developments in the Market:
Ø In May 2023, ASICS, a multinational Japanese sportswear manufacturer, unveiled the GEL-KAYANO, the most comfortable stability running shoe. It had state-of-the-art technology to provide runners with adaptable stability and unparalleled comfort with each step.
Ø In September 2022, Asics Corporation unveiled the Novablast 3 trainers. The shoes’ geometric Origami design, Asics technology, and unique cushioning produce a springy running sensation.
Global Athletic Footwear Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, End-user, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Trekking & Hiking Shoes
Middle East & Africa
Rest of Middle East & Africa