Global Athletic Footwear Market: Analysis of Key Trends and Drivers Shaping Future Growth until the End of 2022
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Athletic footwear are used on a large scale by athletes. The global athletic footwear market is influenced by several aspects which have a direct influence on its growth. The rising participation of young population in sports, fitness activities is one of the major reasons which is pushing the growth of the market. The rise in the disposable income is also growing owing to higher income scales. Coupled with this aspect, the increasing awareness about healthy lifestyle is pushing the growth of the global athletic footwear market. The demand for innovative and comfortable footwear as well as increasing e-commerce retail sector is driving the growth of the global athletic footwear market. Innovations which have led to increased functionality, use of material which reduce the overall weight of the footwear and quick availability are few of the aspects which have a greater impact on the market in a positive way. Europe region is expected to show higher market attractiveness for the global athletic footwear market.
Footwear is a garment worn on feet for protection from external agents while performing outdoor activities. Athletic footwear refers to the product worn by athletes which have similar function of foot care along with higher additional functionality according to the sport they are designed for. Athletic footwear thus provide better protection, easy movement control, mid-foot support as well as heel stabilization and cushioning.
The global athletic footwear market is anticipated to show a value of more than US$ 83 Bn and is expected to grow at a moderate rate during the period of forecast of 2017 to 2022.
Specialty Boots Segment Poised to Reflect High Pace
The specialty boots segment by product type is anticipated to grow at the highest growth rate as compared to other segments by product type. It is poised to register a robust CAGR of 5.8 % during the period of forecast. However, this segment shows a lower market share, almost half the market share of running shoes segment.
Europe Region has Higher Market Attractiveness
Europe region shows high market attractiveness index and is more lucrative region for the global athletic footwear market. The market share of Europe is high and it dominates the global market by region and is poised to grow at a moderate growth rate. Asia-Pacific excluding Japan (APEJ) region is anticipated to grow at the highest growth rate reflecting a CAGR of 5.2% during the forecast period. APEJ region shows high potential during the forecast period. Other regions have a significant market share in the global athletic footwear market.
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Women go ahead; Men Dominate Anyway
Women segment by demographics is poised to show higher growth rate throughout the forecast period. However, the men segment dominate the global market by demographics and reflect a market share of 40.4% as of 2017 and this trend is poised to continue throughout the forecast period of 2017 to 2022. The women segment is likely to witness higher gain in BPS by the end of 2022.
The report also profiles companies that are expected to remain active in the expansion of the global basketball shoes market through 2022, which include ASICS Corporation, New Balance INC., Skechers, INC., VF Corporation, Deckers Outdoor Corporation, Wolverine World Wide, Inc., Amer Sports Corporation, NIKE Inc., Adidas AG, PUMA SE and K-Swiss INC.
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