Global Athletic Footwear Market Size, Share, Development, Growth and Demand Forecast to 2023

The major factors driving the growth of the global athletic footwear market include, growing world population, increasing awareness about healthy lifestyle, upsurge in disposable income within major economies, and the corresponding increase in demand for innovative and comfortable footwear.

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Athletic shoe is a generic name for the footwear primarily designed for sports or other forms of physical exercise, but in recent years they are used for casual activities. Athletic footwear is used for sports and other forms of training, such as walking, jogging, running, and aerobics. This includes basketball shoes, fitness shoes, walking and running shoes, and so on.

On the basis of consumer goods, the global athletic footwear market can be segmented into men, women, and kids. Amongst these, the men’s footwear section dominates the global athletic footwear market, with approximately 62% share. This is followed by the women’s footwear section with nearly 29% of the overall market share.

Geographically, Asia-Pacific dominates the global athletic footwear market with nearly 40% share. The key reason for the dominance of Asia-Pacific is cheap labor, heavy concentration of leading footwear manufacturers, and availability of cheap raw material. The growing interest in athletic sports, improved awareness of healthy lifestyles, escalating demand for innovative footwear, and increase in seasonal sales (due to sports events), are some of the factors contributing to the growth of the athletic footwear market in U.S.

The escalating raw material cost is a major factor hindering the growth of the global athletic footwear market. The average price of a shoe’s upper leather rose to 8.6% in 2014, which affected the athletic footwear market in that year.

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The major competitors in the global athletic footwear market are Nike Inc, Adidas Group, PUMA, and ASICS Corporation. These four company together account for approximately 80% market share of the global athletic footwear market. Other competitors in the global athletic footwear market, include Converse, Inc., SKECHERS USA Inc., New Balance, VANS Inc., K-Swiss Inc., and Saucony Inc. Wolverine World Wide Inc. Crocs Inc, Under Armour INC., BK Footwear, Brooks Sports Inc., and Osiris Shoes.

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