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Sneaker Market Share Estimated to Reach USD 98 Million By 2026 - Facts & Factors
According to the Facts and Factors, Research Report, the global Sneaker market in 2019 is approximately USD 63 Million and is anticipated to reach around USD 98 Million by 2026. The anticipated CAGR for the Sneaker market is around 7% from 2020 to 2026.Sneakers are shoes designed for forms of physical exercise or other sports. These shoes are utilized for everyday wear. The other name for sneakers is tennis shoes, gym shoes, sports shoes or runners shoes, athletic shoes. Sneakers are made up of synthetic material or flexible sole made of rubber, and synthetic substitutes, an upper part made of leather, or cloth.
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Increasing the inclination of the young population towards fitness activities as well as sports activities is the major driving factor for the target market growth. Besides, consumers are becoming curious about athletic shoes, this factor is anticipated to boost the target market growth over the forecast period. Moreover, stylish sneakers are attracting individuals who have helped the target market to grow as well. However, brand stealing by new competitors or new entrants is expected to hamper the target market growth. Nevertheless, branding and selling sneakers through online channels could provide lucrative growth opportunities for the target market key players over the forecast period.
Top Market Players:
Some of the key players involved in the global sneaker market are MIZUNO, ASICS Corporation, Nike, Inc., New Balance, Inc., Under Armour, Adidas AG, Puma SE, Li-Ning, Ecco, Skecher Inc., PEAK Sports Products, China Dongxiang, and Others.
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Based on product type, the sneakers market is segmented as an adult sneaker and children sneaker. Among this, the adult sneaker segment is expected to account for the major revenue share in the sneaker market over the forecast period owing to the inclination of adults towards sneakers. Adult sneakers bring comfort and style to a pair of casual shoes.
Based on the application, the sneaker market is segmented as an online channel and offline channel. Among these, the offline channel is anticipated to lead the application segment owing to comprehensive strategies of the hypermarket and supermarket by providing a range of the brand.
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Based on region, the sneaker market is segmented into Asia Pacific, Europe, Middle East & Africa, North America, and Latin America. Among all the regions, the North America region is anticipated to dominate the target market over the forecast period followed by APAC in terms of revenue. An increase in the need for physical fitness as well as health-consciousness is expected to drive the target market growth in North America. Additionally, along with changing lifestyles, customers in the US prefer comfort over price. This has boosted the target market in North America. Whereas, the rise in disposable incomes in APAC countries such as China, Japan, and India is likely to surge the target market growth over the forecast period.
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This report segments the Sneaker Market as follows:
Global Sneaker Market: By Product Type Segment Analysis
Adult Sneaker
Children Sneaker
Global Sneaker Market: By Application Segment Analysis
Online Channel
Offline Channel
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