Overview of Basketball Shoes Market Rising Demand Leads to Sustained Growth during the Period 2017-2022
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Basketball is a global game and has several accessories. Basketball shoesis one of the accessories which the amateurs and professionals wear during play. The benefits of shoes include firmness, grip, safety to ankle, and overall look. These shoes also have certain limitations which might hinder the growth of the global market, such as, damage due to external factors due to poor material. These shoes come in different sizes, prices, designs and shapes. North America region is dominating in the global market of basketball shoes and has high market attractiveness index. The report, compiled by Fact.MR, provides in-depth analysis of the global basketball shoes market for the forecast period 2017-2022, and offers key insights about future market direction.
Basketball shoes are used by both amateurs and professionals. Few newbies also go for basketball shoes for feel, support and comfort. They come in different pricing ranges, some are cheaper and some are premium. There are many advantages of basketball shoes which have a positive impact on the global basketball shoe market. Basketball shoes come in different price ranges, depending upon the brand, quality, material and additional features. Better ankle protection from twisting during play, increased disposable income, more number of people opting basketball as their part time game or even looking forward to do career are the main reasons which have a positive impact on the growth of the global basketball market. However, problems associated with certain manufacturing methods which release harmful chemicals and the damage of shoes caused from contact with moisture and other external agents due to poor material usage are hindering the global basketball shoes market. North America is expected to be the largest region for the basketball shoes market.
Basketball is a game which is popular across the globe and has several accessories. Shoes is one such accessory which is directly associated with the game, and is a more crucial one. There are several benefits of using shoes especially designed for the game. The material, make, quality size, and other features decide the shoe rating and its premium. Basketball shoes are also used by people who have money and look for style but do not play the game. However, for basketball players who look at the game from a career perspective, this accessory is a must which is essential to maintain their foot health.
Laces Segment vs. Straps Segment, One Tough Call to Make
The laces segment by closure type is expected to grow at a higher rate followed by the straps segment. However, the laces segment shows higher market share and dominates the market. The straps segment comes second in line with respect to value market share and it would be advisable to invest in these two segments as per regional outlook, especially in North America the laces segment could find better opportunities the laces segment is shows a market share of 57.1% as of 2017 and this trend is anticipated to continue throughout the period of forecast.
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Third Party Online Channel Grows Stronger
The third party online channel segment by sales channel shoes a higher growth rate comparatively during the period of forecast with a higher market share by revenue thereby dominating the global market. This segment is poised to register a CAGR of 3.4% during the period of forecast. Following this segment, the direct customer brand outlet segment shoes good potential and is expected to grow at a steady rate during the period of forecast.
The report also profiles companies that are expected to remain active in the expansion of the global basketball shoes market through 2022, which include Adidas AG, NIKE, Inc., Peak Sports USA, PUMA SE, ANTA Sports Products Ltd, Li Ning Co., Ltd, Under Armour, Inc., Reebok International Ltd., Amer Sports Corporation and Xtep International Holdings Limited.
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