Global Sneakers Market to Reach USD 139,876 Million by 2032, Growing at 6.8% CAGR Driven by Rising Demand for Stylish, Comfortable, and High-Performance Footwear

According to newly released data by Future Market Insights (FMI), the global sneakers market was valued at USD 72,232 million in 2022 and is projected to reach USD 139,876 million by 2032, growing at a robust compound annual growth rate (CAGR) of 6.8% from 2022 to 2032.

This growth is driven by an increasing demand for comfortable, stylish, and high-performance footwear, alongside rising disposable incomes and a shift toward more active lifestyles. Sneakers, once a niche product for athletic performance, have now become a staple in everyday fashion, with consumers increasingly seeking both functionality and style.

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Key Insights from the Sneakers Market Survey

Customization Trends: Sneakers are becoming more customizable with features like personalized designs and technologically advanced materials.

Fashion Influence: The rising preference for fashionable, branded sneakers among all age groups is propelling market demand, fueled by the influence of celebrities and athletes as brand ambassadors.

Health and Wellness Impact: Growing awareness of health and fitness is driving demand for sneakers as people increasingly engage in physical activities.

Market Drivers and Trends

Comfort and Flexibility: Sneakers provide unmatched comfort, making them a preferred choice for various activities, from casual wear to sports and fitness. The flexibility of sneakers allows for quick movement and adaptation to different settings, from workplaces to social events.

Sustainability and Innovation: Innovations in sneaker materials, including breathable mesh fabrics and eco-friendly options, are gaining popularity. Consumers are increasingly drawn to sneakers that offer both performance benefits and sustainability.

Celebrity Influence: The endorsement of sneakers by high-profile athletes and celebrities continues to influence consumer buying behavior. Brands like Nike and Puma are leveraging the appeal of stars such as Justin Timberlake and Selena Gomez to drive sales and enhance brand image.

Market Segment Insights

Adult Sneakers: The adult sneaker segment holds the largest share in the global market. Increasing health concerns and the desire for comfortable yet fashionable footwear are driving demand for adult sneakers, particularly among fitness-conscious consumers.

Gender Preferences: Men are the largest consumer group for sneakers, largely due to their engagement in physical activities and preference for versatile footwear. Women, on the other hand, tend to opt for sneakers based on fashion preferences, matching their footwear to their clothing for specific occasions.

Sales Channels: Offline retail stores are expected to continue dominating the sneaker market, with customers preferring to try on shoes for fit and comfort before purchasing. Despite the growth of e-commerce, physical stores remain a vital channel for sneaker sales.

Regional Insights

India: The sneaker market in India is rapidly growing, fueled by a shift towards sneaker culture, a booming resale market, and the country's digital landscape supporting sneaker enthusiasts.

USA: In the US, Nike and other brands are tackling sneaker reselling by implementing stricter online sales policies to curb the impact of bots and resellers.

China: Local brands like Anta and Li-Ning are gaining significant market share in China, challenging the dominance of global players like Nike and Adidas due to supply chain disruptions and changing consumer preferences.

Competitive Landscape

Manufacturers are working diligently to develop innovative sneakers that offer unique features for consumers. These efforts have reinvigorated the global sneaker market, driving a surge in demand.

For Instance

Nike is planning to launch a new variety of Air Adjust Force x Ambush sneakers which come in an interesting color combination of university blue and habanero red. This is the extension of the series air force one which is admired by populations throughout the world.

Key Companies Profiled

Adidas Group
Nike Inc.
New Balance
ASICS
PUMA SE
Under Armour, Inc.
Li Ning Company Ltd.
ECCO
China Dongxiang (Group) Co., Ltd.
361 Degrees International Limited.
Vans; Converse

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Sneakers Market by Category

By Product Type, the Sneakers Market is segmented as:

• Adult Sneakers
• Children Sneakers

By Application, Sneakers Market is segmented as:

• Sports
• Lifestyle
• Competition

By Consumer Orientation, the Sneakers Market is segmented as:

• Men
• Women

By Sales Channel, the Sneakers Market is segmented as:

• Multi-brand Stores
• Independent Small Stores
• Online Retailers
• Other Sales Channel

By Region, the Sneakers Market is segmented as:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa(MEA)

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.