Athletic Footwear Market Worth Is Poised To Reach US$ 135.6 Billion By 2033

The global Athletic Footwear Market was valued at US$ 82.56 Billion in 2022 and is projected to witness a compound annual growth rate (CAGR) of 4.8% throughout the forecast period, reaching US$ 135.6 Billion by 2033. This growth trajectory is attributed to several key factors, including increasing enthusiasm and awareness surrounding the health benefits associated with sports and fitness activities, the flourishing retail e-commerce sector on a global scale, and the rising levels of disposable income among consumers.

A significant trend contributing to this growth is the growing interest among young people in adopting healthier lifestyles, leading them to actively participate in sports and related activities. Simultaneously, there is a growing recognition among individuals of all ages that engaging in sports and fitness endeavors can play a vital role in maintaining good health and mitigating the risk of chronic conditions such as depression, cardiovascular diseases, and diabetes.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.factmr.com/connectus/sample?flag=S&rep_id=225

The COVID-19 pandemic has likely affected the U.S. athletic footwear and activewear industries. Sales for various brands reflect this impact: Nike's footwear sales saw a decline of around 17%, Brand Jordan dropped by approximately 13%, and Converse experienced a significant decrease of over 30%. Similarly, Adidas, Skechers, ASICS, and Vans all experienced declines in the teens, while Under Armour faced a decrease of about 25%. Fila was hit the hardest, with a nearly 50% decline in sales.

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬

• Growing interest of people regarding sports activities and health and fitness, and the flourishing e-commerce industry is anticipated to drive the sales of the athletic footwear industry.
• The US athletic footwear industry is anticipated to grow at a CAGR of 4.1%.
• The athletic footwear sales in China will witness a growth of 4.41% CAGR.
• The athletic footwear industry of the UK will expand at a CAGR of 4.19 %.
• The North American market will account for the highest revenue share during the forecast period.
• Economy athletic segment is anticipated to retain its dominance with a CAGR of 4.50%.
• The men segment accounted for the highest revenue share of 57% in 2022.

When focusing on specific categories, spring sports endured significant setbacks, with baseball, soccer, and golf experiencing cancellations or postponements, leading to an average decline of 30% in shoe sales for these activities. Performance basketball and sports lifestyle saw decreases in the mid-teens, while running footwear and skate shoes, previously on a fast-growing trajectory, also experienced drops in the mid-teens during this period. However, amidst these challenges, Brooks saw a mid-single-digit increase, and Puma showed improvement in the low singles.

Furthermore, there's a growing recognition of the importance of wearing the right shoes for sports to prevent various injuries such as muscle strain, leg, knee, hip, and back pain. This awareness is expected to drive a significant surge in demand for athletic shoes in the coming years. The demand for athletic footwear is escalating rapidly due to its utility across diverse conditions and among different consumer segments including athletes, climbers, fitness enthusiasts, gym-goers, and those engaging in mild fitness routines. These athletic footwear products, crafted from high-quality materials like leather, foam, and plastic, incorporating advanced chemical additives, offer consumers a range of options tailored to their specific needs and preferences.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐓𝐫𝐞𝐧𝐝𝐬:

Technological Innovation: Advances in materials, manufacturing processes, and design technologies have enabled the development of athletic footwear that offers better performance, comfort, and durability. Features such as lightweight materials, enhanced cushioning, improved traction, and breathability are increasingly sought after by consumers.

Health and Wellness Awareness: With a growing emphasis on health and wellness, there's an increasing number of individuals participating in sports, fitness activities, and recreational exercises. This trend is driving the demand for athletic footwear as consumers seek specialized shoes that provide support, protection, and performance benefits during physical activities.

Fashion and Lifestyle Influence: Athletic footwear has become a significant component of casual and streetwear fashion, transcending its traditional role in sports. The popularity of athleisure trends has led to a rise in demand for stylish and versatile athletic shoes that can be worn both for athletic purposes and as everyday footwear.

E-commerce Growth: The proliferation of e-commerce platforms has revolutionized the way consumers shop for athletic footwear. Online retail channels offer a convenient and accessible shopping experience, enabling consumers to browse a wide range of products, compare prices, read reviews, and make purchases from the comfort of their homes. This shift towards online shopping has contributed to the expansion of the athletic footwear market globally.

Sustainability Initiatives: Increasing environmental awareness has prompted many athletic footwear brands to prioritize sustainability in their manufacturing processes and product designs. Consumers are showing a preference for eco-friendly materials, recycled components, and ethically sourced production methods. Brands that emphasize sustainability are likely to gain a competitive edge in the market.

Customization and Personalization: With advancements in technology, brands are offering customization and personalization options for athletic footwear, allowing consumers to design shoes tailored to their unique preferences, fit, and performance requirements. This trend enhances consumer engagement and loyalty by providing a personalized shopping experience.

Emerging Markets: Rapid urbanization, rising disposable incomes, and growing participation in sports and fitness activities in emerging markets present significant growth opportunities for the athletic footwear industry. Brands are increasingly expanding their presence in regions such as Asia-Pacific, Latin America, and the Middle East to capitalize on these expanding markets.

𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝
• 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

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The athletic footwear market is competitive, with the presence of various regional and global players. To achieve a competitive advantage in the market, firms compete on a variety of variables such as product offerings, price, material quality, and marketing efforts. Companies are utilizing digital and social media marketing to notify people about new product launches.

• In September 2022 Asics Corporation launched new shoes called Novablast 3. The shoes have a geometric Origami design with Asics technology and unique cushioning, which offers a bouncing running experience.
• In June 2021 Adidas launched a golf shoe, "Solarthon", which is both lightweight and comfortable. Further, the brand aims to introduce Solarthon in limited-edition grey, blue, and white colorways. The new shoe features Adidas' Primeblue textile upper, a recycled yarn containing at least 50% Parley Ocean Plastic, to help the company's "End Plastic Waste" initiative.
• In May 2021, Nike unveiled its latest creation, the "ZoomX Invincible Run" running shoes, as an addition to its expanding portfolio of athletic footwear. The design for the new product has drawn inspiration from the brand's previous release, "Nike React Infinity Run" shoes.

𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬

• 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

• By Demographics
o Men
o Women
o Kids
o Athletic footwear by Region
o North America
o Latin America
o Europe
o APEJ
o Japan
o Middle East & Africa

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞: https://www.factmr.com/report/225/athletic-footwear-market

𝐌𝐨𝐫𝐞 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭:

Athletic Tapes Market: https://www.factmr.com/report/760/athletic-tapes-market

Sports Footwear Market: https://www.factmr.com/report/281/sports-footwear-market

Baseball Shoes Market: https://www.factmr.com/report/231/baseball-shoes-market

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