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Athletic Footwear Market 2024-2033 : Industry Analysis, Size, Share, Growth And Forecast | Nike Inc., Adidas AG, Lining, VF Corporation, Puma SE, ANTA Sports Products Limited, Skechers USA Inc.
Athletic Footwear Global Market Report 2024
As per the report, the athletic footwear market size has grown strongly in recent years. It will grow from $81.43 billion in 2023 to $85.8 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The athletic footwear market size is expected to see strong growth in the next few years. It will grow to $107.27 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
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Increasing Sports Tournaments Enhanced Athletic Footwear Market Growth
The rising number of sports tournaments is expected to propel the growth of the athletic footwear market. Sports tournaments refer to competitions, in which large sections of players compete against each other in a specific format to determine the overall winner. Individuals are increasingly participating in local or regional tournaments, to display their skills and represent themselves on the global stage for their country. Sports professionals and enthusiasts enrolled in various sports tournaments are mandated to wear athletic footwear to conduct a safe and competitive tournament. For instance, in May 2023, according to the England and Wales Cricket Board, the governing body of cricket, around 2.6 million individuals engaged in cricket during 2022, with approximately 1.4 million players falling below the age of 16. The surge in young cricket enthusiasts has been supported by the ECB's national initiatives. All Stars Cricket and Dynamos Cricket both of which, for the second consecutive year in 2022, attracted over 100,000 participants, contributing to the game's growth among newcomers. Therefore, the rising number of sports tournaments will drive the growth of the athletic footwear market during the forecast period.
Advanced Solutions Enhanced Athletic Footwear Market Presence
The use of recycled material in shoe manufacturing is a key trend gaining popularity in the athletic footwear market. The companies operating in athletic footwear are focusing on utilizing recycled materials in shoes to reduce the carbon footprint, and meet their organization's specific sustainable goals. For instance, In April 2022, Decathlon S.A., a French sporting goods company launched Traxium Compressor, a football shoe completely manufactured from recycled thermoplastic derived from end-of-life sporting goods such as plastic balls, shoes, and others. Additionally, in June 2021, Adidas, a manufacturer of apparel, shoes, clothing, and accessories, launched the Solarthon golf shoes, whose upper parts are made from 50% recycled parley ocean plastic.
The athletic footwear market covered in this report is segmented -
1) By Product Type: Running Shoes, Sports Shoes, Trekking/Hiking Shoes, Other Product Types
2) By End User: Men, Women, Kids
3) By Distribution Channel: Hypermarkets/Supermarkets, Specialty Stores, Brand Outlets, Online Channels
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Major companies operating in the athletic footwear market report are Nike Inc., Adidas AG, Lining, VF Corporation, Puma SE, ANTA Sports Products Limited, Skechers USA Inc., Under Armour, New Balance Athletics Inc., Lotto Sport, Li-Ning Company Limited, ASICS Corporation, ASICSTIGER, Deckers Brands, Columbia Sportswear Company, Fila, Fila Korea Ltd., Mizuno Corporation, On AG, Brooks Running Company, ECCO Sko A/S, Lanvin, K-Swiss Inc., Diadora Sport S.p.A., UMBRO, Umbro, Keen Inc., Saucony, Warrior, Salomon, Tecnica Group S.p.A., La Sportiva, Vivobarefoot, Helly Hansen, Topo Athletic, Hummel International Sport & Leisure A/S
Contents of the report:
1. Executive Summary
2. Athletic Footwear Market Report Structure
3. Athletic Footwear Market Trends And Strategies
4. Athletic Footwear Market - Macro Economic Scenario
5. Athletic Footwear Market Size And Growth
…..
27. Athletic Footwear Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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