Tennis Shoes Market Size Will Hit Big Revenues In Future | Nike, Inc., PUME SE, and Wilson Sporting Goods Company

The global tennis shoes market size was valued at $2,193.2 million in 2020, and is estimated to reach $2,604.4 million by 2028, registering a CAGR of 2.8% from 2021 to 2028. Tennis shoes are specially designed shoes made of materials such as ethyl vinyl acetate (EVA) and polyurethane used for playing tennis. Tennis courts have various playing surfaces such as hard courts, clay courts, and grass courts. Hence, depending upon tennis courts, different types of tennis shoes are manufactured by vendors such as hard court tennis shoes and grass court tennis shoes. Tennis shoes are designed in such a way that they facilitate quick side wise movement and forward & backward movement and allow players to quickly respond while playing tennis.

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Growth in popularity and increase in participation of kids and geriatric population in tennis is a key driver of the global tennis shoes market. Playing tennis has a very low impact on joints and muscles, which makes it popular among geriatrics. Tennis also provides many health benefits, which is an important concern for many in the present time. Various health benefits associated with tennis are improved aerobic fitness, muscular fitness, anaerobic endurance, and flexibility. Tennis also helps in developing cognitive abilities such as attentional focus, eye-hand coordination, and anticipation. These benefits encourage parents to make their children participate in tennis. Schools and colleges also promote playing tennis by organizing tennis tournaments. This encourages and boosts tennis participation among kids. These factors are responsible for growth of the global tennis shoes market.

Furthermore, initiatives undertaken by various tennis associations propels tennis participation rate across the globe. For instance, International Federation of Tennis (ITF), Grand Slam Development Fund (GSDF), Olympic Solidarity, International Tennis Hall of Fame, and Kazakhstan Tennis Federation together provided a fund of over $ 11.3 million in 2019 for development and growth of tennis and increase the number of participants in tennis. Further, the government of Australia presented a budget of $ 12 million for the period 2019-2020 to increase participation in tennis and aimed at increasing opportunities for women in tennis. Growth of tennis playing population is expected to fuel demand for tennis shoes globally in the coming years.

Emerging markets such as China, India, and Brazil offer lucrative growth opportunities for key players operating in the global tennis shoes market. Tennis playing population is growing along with popularity of tennis in these emerging markets. According to the International Tennis Federation, Asia-Pacific has the highest tennis playing population. Further, rise in disposable income, desire for healthy lifestyle, and demand for comfortable athletic footwear are few factors that propel demand for tennis shoes in the emerging markets.

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However, major threat on the tennis shoes market is imposed by exponentially growing popularity of eSports among global youth. Digital games such as Counter Strike, Overwatch, and Dota 2 are the most popular games under the eSports category. People are even adopting eSports as their career, hobby, and source of entertainment. This growth of eSports is expected to hamper and drastically reduce participation o0f youth in outdoor sports such as tennis. Therefore, growth in popularity of eSports may adversely affect the tennis shoes market.

The global tennis shoes market is segmented based on playing surface, user, distribution channel, and region. On the basis of playing surface, the tennis shoes market is bifurcated into hard court tennis shoes, clay court tennis shoes, and grass court tennis shoes. By user, it is segregated into men, women, and kids. On the basis of distribution channel, it is segregated into supermarket/hypermarket, specialty stores, e-commerce, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Russia, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, and rest of LAMEA).

The players operating in the global tennis shoes market have adopted various developmental strategies to expand their market share, exploit the tennis shoes market opportunities, and increase profitability in the market.

The players operating in the global tennis shoes market have adopted various developmental strategies to expand their market share, exploit the tennis shoes market opportunities, and increase profitability in the market. The key players profiled in this report include ADIDAS Group, ASICS Corporation, Babolat, FILA Holdings Corp., K-Swiss, Lotto Sport Italia S.p.A., New Balance, Inc., Nike, Inc., PUME SE, and Wilson Sporting Goods Company.

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KEY BENEFITS FOR STAKEHOLDERS
- The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2020 to 2028 to identify the prevailing opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis and the market size and segmentation assist to determine the prevailing tennis shoes market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the tennis shoes industry.

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