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The Demand of Athletic Footwear Market is Estimated to Soar Higher During Forecast Period Having Players: Converse, Skechers, New Balance, Vans, Saucony, Crocs & Under Armour
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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.
Various new companies in the athletic footwear market have been gained importance in the recent past. For instance, Skechers USA became the second largest athletic footwear company in 2014. The low price of Skechers’ products has been the key reason for its growth in U.S. market.
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 market in North America is anticipated to grow at a slow pace, owing to reasons such as high material, labor cost and strong competition.
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.
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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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