Press release
Athletic Footwear Market to Witness a Pronounce Growth During 2024 - 2031 | Nike, Inc., Adidas Group, Crocs, Inc.
Athletic Footwear Market
The athletic footwear Market size is valued at US$ 132.6 Bn in 2024 and is expected to reach US$ 170.9 Bn by 2031, growing at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
Market Dynamics:
The athletic footwear market is driven by enhanced consumer awareness regarding health and fitness. There is a growing consumer trend towards adopting a healthy lifestyle, which includes daily exercise and participation in sports and fitness activities. This has significantly boosted demand for high-performance athletic footwear across the globe. Additionally, increasing disposable income in developing countries is allowing consumers to spend more on branded athletic and casual footwear. Innovation in terms of lightweight, durable, and breathable materials is further accelerating market growth.
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Major Driver: Increase in Active Population and Health Awareness in Developing Countries
In the past few decades, developing countries have seen significant economic growth and rise in disposable incomes. This has led to lifestyle changes and increased focus on health and fitness. More people are taking up activities like running, gym workout sessions, yoga etc. for exercise and stress relief. The younger population in particular is adopting an active lifestyle at a faster pace. This has generated strong demand for quality athletic shoes that provide comfort, support and durability for various activities. Athletic footwear brands have responded well by launching innovative products tailored for different sports and workouts. Affordable options have also boosted the mass market in developing regions.
Major Opportunity: Online and Omnichannel Retail Boost
The ongoing digital transformation provides a big opportunity for athletic footwear brands to reach more customers directly. Online shopping was already on the rise before the pandemic due to convenience. However, Covid-19 lockdowns and restrictions accelerated this trend massively. Consumers now expect easy virtual browsing and quick home delivery options from all retailers. Leading brands have ramped up their own e-commerce capabilities as well as partnerships with major online marketplaces and delivery platforms. Omnichannel strategies integrating physical and digital retail are yielding good results. This digital pivot can boost sales, customer loyalty and overall market scope in the coming years.
Major Trend: Growing Focus on Sustainability
With rising environmental awareness, sustainability is emerging as a key trend across all industries. Young consumers especially research a company's green credentials before purchase. Athletic footwear brands are responding proactively. Many are using more recycled and biodegradable materials in new collections. Some have launched dedicated re-use and recycling programs for old shoes. Transparency about factory audits and compliance is also essential now. This presents an opportunity to cater to the growing sustainable segment and appeal to ethically-conscious customers. Those who adopt ambitious green goals holistically stand to gain considerably in the long run through positive branding.
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Top Companies Featured in This Report:
★ Nike Inc.
★ Adidas Group
★ Crocs Inc.
★ Wolverine World Wide Inc.
★ Skechers U.S.A. Inc.
★ Under Armour Inc.
★ Puma AG
★ Geox SpA
★ K- Swiss
★ New Balance.
Market Segmentation:
By Product Type:
★ By Category: Insert Footwear (Aerobic Shoes, Athleisure Footwear, Running Shoes, and Walking Shoes), Sports (Cross Training) Footwear (Cricket Footwear, Tennis Shoes, and Other Sport Shoes), Hiking Shoes (Outdoor/ Rugged Footwear, Trekking and Walking Boots, and Other Athletics), and Backpacking Boots (Hiking Boots, Technical Shoes, and Approach Shoes)
★ By Consumer Group: Women, Men, and Kids
★ By Retail Distribution: Store-Based and Non-store Athletic
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Insights from the Global Athletic Footwear Market Analysis:
Market Size Evaluation: Assessing the value and sales volume of the Athletic Footwear market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Athletic Footwear market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Athletic Footwear market.
Segment Analysis: Examining the market value and sales volume of Athletic Footwear by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Athletic Footwear market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Athletic Footwear sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )
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