Athletic Footwear Market: Declining Infant Mortality Rate to Reflect Market Growth | Wolverine World Wide, Inc., Under Armour, Inc., VF Corporation, and FILA Korea, Ltd.

Athletic Footwear Market-Insights
Athletic footwear include sneakers used in sports, exercises, walking, and hiking. The footwear include athletic shoes, tennis shoes, gym shoes, sport shoes, runners, or trainers shoes. Although they are primarily produced for sports activity or other forms of physical exercise, they are now also often used for everyday wear. The footwear have a flexible sole made of rubber or synthetic material and an upper part made of leather or synthetic materials. Athletic footwear have two basic functions: injury prevention and enhanced performance. The requirement of athletes depend on their preferences. Some are concerned about injuries, whereas some competitive athletes may choose enhanced performance over injuries.

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Key market players in the athletic footwear market are NIKE, Inc., New Balance Athletics, Inc., Skechers USA Inc., ASICS Corporation, Adidas AG, Puma SE, Wolverine World Wide, Inc., Under Armour, Inc., VF Corporation, and FILA Korea, Ltd.

The athletic footwear market was valued at US$ 89.00 billion in 2016 and is projected to register a CAGR of 2.33% in terms of revenue, over the forecast period (2017–2025).

According to Physical Activity Council (PCA), participation in fitness sports increased from 59.6% in 2011 to 62.7% in 2016 in the U.S. According to World Health Organization, globally, 1.9 billion adults were overweight of these over 650 million were suffering from obesity in 2016. Increasing inclination of consumers towards various exercises and sports, due to growing awareness of health risks of obesity such as type 2 diabetes and high blood pressure is fuelling demand for athletic footwear. Innovations in footwear such as 3D printing is also driving growth of the athletic footwear market. For instance, Adidas AG launched sneaker with 3D printed sole in April 2017. Under Armour, Inc.

launched Hovr Phantom and Hovr Sonic smart shoes with tracking capabilities on distance, stride length, and others in January 2018. Rising trend of personalization and customization in footwear such as NikeId by Nike, Inc. is also another factor expected to support growth of the athletic footwear market.

However, increasing environmental concerns over the materials used in athletic footwear such as synthetic rubber is expected to be a restraining factor for the athletic footwear market growth. Several athletic footwear manufacturers are taking initiatives to reduce the environmental impact of athletic footwear. For instance, Nike Inc. launched MAKING app in July 2013, which helps designers and producers in monitoring environmental effect of the products and materials used in these products. 

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Men segment accounted to be the largest end user segment in the athletic footwear market in 2016, due to high participation of men in sports and other physical activities. According to European Commission, 2013, 45% men play sport or exercise at least once a week as compared to 37% women. Moreover, 37% men never play sport or exercise as compared to 47% women in member states of the European Union.

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