Press release
Global Athletic Footwear Market To Be Driven By Rising Awareness Regarding Physical Fitness In The Forecast Period Of 2022-2027
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
• Forecast CAGR (2022-2027): 5.2%
Market Overview (2017-2027)
The surge in public awareness about health and physical fitness because of the epidemic, with people of all ages participating in sports such as cycling, trekking, and running, among others, is expected to fuel market expansion. Growing awareness of the benefits of physical activity on mental and psychological health is expected to boost market growth in 2020, especially after lengthy periods of immobility.
Furthermore, rising awareness about the need of wearing the proper shoes to avoid leg injuries is leading to technological and inventive advances in manufacturing techniques, which are expected to propel market growth throughout the forecast period.
Industry Definition and Major Segments
Athletic footwear is footwear that is meant to provide optimal comfort while participating in physical activities such as hiking, running, and other sports. Flexibility, durability, and stability are all characteristics of these shoes. Athletic footwear, unlike sneakers or other types of footwear, is designed for comfort and usefulness.
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On the basis of category, the market is segmented into:
• Aerobic Shoes
• Running Shoes
• Walking Shoes
• Trekking and Hiking Shoes
• Sports Shoes
On the basis of gender, the market is divided into:
• Men
• Women
• Kids
On the basis of distribution channel, the market is categorized as:
• Retail
• Online
On the basis of region, the market is segmented into:
• North America
• Europe
• Asia
• Latin America
• Middle East and Africa
Market Trends
The increased purchasing power of customers because of their rising disposable incomes can be ascribed to the increasing market expansion of athletic footwear. People are prepared to spend more on numerous performance qualities such as comfortable cushioning, waterproof quality, unique designs, and friction regulation, among others, because of manufacturing process advancements, which is also catalysing market expansion.
Furthermore, the market for sports footwear is being boosted further by the emergence of distribution methods such as e-commerce websites and a large network of retail channels. Furthermore, the industry is experiencing good growth as a result of the growing influence of social media, since sports shoes are becoming more popular among younger customers as a result of such mediums, supporting market growth.
Key Market Players
The major players in the market are Adidas AG, ASICS Corporation, Fila Inc., Nike, Inc, Reebok International Ltd., Puma SE, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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