Athletic Footwear Market Is Expected To Surpass A Valuation Of Over US$ 128.21 Billion By 2032

The worldwide athletic footwear market was valued at US$ 82.56 billion in 2022 and is predicted to grow at a CAGR of 4.8% from 2023 to 2033, reaching US$ 135.6 billion. Athletic footwear sales are expected to reach US$ 85.21 billion by 2023.

Growing passion and understanding about the health advantages of sports and fitness activities, a thriving retail e-commerce industry globally, and rising levels of consumer disposable income are expected to be the major factors driving market expansion.

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Young people are becoming more interested in leading a healthy lifestyle, and as a result, they are becoming more involved in sports and other related activities. Simultaneously, individuals have begun to recognize that sports and fitness activities may assist assure good health and lower the risk of chronic conditions such as depression, cardiovascular disease, and diabetes.

COVID-19 has had a considerable influence on the sports footwear and apparel industries in the United States. In terms of brands, Nike brand footwear sales fell in the high teens, Jordan brand footwear fell in the low teens, and Converse fell by more than 30%. Adidas, Skechers, ASICS, and Vans all fell in the teens, while Under Armour fell by approximately 25% and Fila fell by about 50%.

Key Players:
• ASICS Corporation
• New Balance INC
• Skechers, INC
• VF Corporation
• Deckers Outdoor Corporation
• Wolverine World Wide, Inc.
• Amer Sports Corporation
• NIKE, Inc.
• Adidas AG
• PUMA SE

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Regional Analysis:

Athletic footwear sales in the United States will grow at a 4.5% CAGR until 2033. The United States is the most profitable country in the sports footwear sector. Strong distribution networks are also driving market expansion. The sports footwear business in the United States generated almost US$ 13.5 billion in revenue in 2020, with revenue expected to exceed US$ 17.01 billion by 2025.The market is largely driven by the country's constantly changing fashion trends. For example, the emerging trend of athleisure footwear, along with early adoption of the latest developments in sports footwear, is significantly contributing to market growth.

The Chinese sports footwear industry is expected to grow at a CAGR of 4.41% until 2033. Soaring domestic footwear sales in China are fuelling market expansion due to a large population base and rising living standards. Because of changing fashion trends and altering customer preferences toward popular brands, the sports footwear area has seen steady growth over the previous five years.

The expanding popularity of sporting activities, as well as the growing interest in personal fitness, are driving the country's athletic footwear industry. To gain fresh ground and increase their product reach in China, global manufacturers are working with regional producers.

Key Segments of Industry:
• By Product Type
o Running Shoes
o Athleisure Shoes
o Gym/Aerobics Shoes
o Backpacking Shoes
o Trekking Boots
o Rugged Boots
o Specialty Boots
o Mountaineering Boots
o Other
• By Distribution Channel
o Hypermarkets/Supermarkets
o Departmental Stores
o Specialty Stores
o Online Retail
o Sport Stores
o Other Channels
• By Price
o Economy
o Mid-range
o Premium
o Super-Premium

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This release was published on openPR.