Athletic Footwear Market Set for Substantial Growth, Expected to Reach USD 73.98 Billion by 2034

The global athletic footwear market is set to experience remarkable growth, with a projected market value of USD 46.16 billion in 2024, and a forecasted Compound Annual Growth Rate (CAGR) of 4.80% over the next decade, reaching USD 73.98 billion by 2034. This growth is fueled by rising consumer interest in fitness, fashion, and technological innovation, as well as an increase in e-commerce demand and celebrity endorsements.

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Key Drivers of Market Growth

The athletic footwear sector is benefitting from a variety of powerful trends that align with consumer preferences for comfort, health, and style. With growing awareness about fitness, more consumers are opting for products that enhance their self-esteem and performance. In particular, the athleisure trend has spurred a rise in demand for designer athletic shoes that blend functionality with fashion. Women, in particular, are embracing athletic footwear for both fitness and lifestyle activities, further driving sales across multiple age groups.
The demand for smart footwear, which tracks metrics like calories burned, and for shoes offering enhanced comfort and durability, is also on the rise. This combination of fashion, technology, and health-focused product development is expected to continue shaping the market's trajectory.

Emerging Trends Shaping the Market

Smart Footwear & Technology Integration: Advances in smart footwear, such as shoes that monitor physical activity and offer performance insights, are expected to attract tech-savvy consumers and athletes looking for more personalized fitness experiences.

Eco-Friendly Footwear: Sustainability is becoming a key factor, with brands like Nike leading the charge through initiatives like Move to Zero, which aims to reduce the carbon footprint by using recycled materials and minimizing waste in production.

Celebrity Endorsements & Fashion Influence: Celebrity endorsements continue to shape consumer purchasing decisions, with global figures like Justin Timberlake and Selena Gomez influencing fashion-forward athletic footwear choices. As the athleisure trend strengthens, the demand for athletic shoes is also growing across fashion-conscious consumers, particularly among Gen Z and millennial parents.

Regional Insights

India: The Indian market is expected to grow at a CAGR of 5.2%, driven by an increasing focus on fitness and sports. The rise in awareness about health benefits is pushing demand for athletic shoes, especially those designed for cricket, hockey, and other local sports.

Japan: Japan's athletic footwear market is forecast to grow at a CAGR of 5.5%, supported by rising disposable incomes, a growing interest in branded footwear, and increased participation in running and cycling.

Spain: Spain is projected to lead the European market with a CAGR of 6.8%, driven by a surge in running, road racing, and other fitness-related activities. The country's active lifestyle trend is further boosting demand for athleisure-inspired athletic footwear.

France: France's demand for cycling and running footwear is on the rise, with a forecasted CAGR of 6%. High-profile sports events like the Tour de France and Paris Marathon are enhancing the popularity of athletic footwear.

Italy: The Italian market is anticipated to grow at a CAGR of 5.7%, thanks to the rising demand for cross-training footwear and the popularity of motorsports and fitness activities such as weightlifting and yoga.

Key Companies in the Athletic Footwear Market

• Nike, Inc.
• Adidas AG
• Puma SE
• Under Armour, Inc.
• ASICS Corporation
• New Balance Athletics, Inc.
• Skechers U.S.A., Inc.
• FILA, Inc.
• Brooks Sports, Inc.
• Reebok International Limited
• Converse Inc.
• Li Ning Company Limited

Recent Developments in the Athletic Footwear Market

In March 2022, Lululemon, introduced Blissfeel, the first-ever running shoe for ladies, with Nike and Adidas.

In February 2022, Mayasheel Retail India entered into an agreement with Columbus Shoes to manufacture and sell sports shoes in the Indian market. The agreement is intended to strengthen Bazar India's in-house retail operations, broaden its product offering within the footwear category, and include low-end sportswear and accessories

The company offers a pre-order of Saysh One sneakers and a lifetime membership to the Saysh Collective. Felix raised USD 3 million in seed money.

In June 2021: Allyson Felix, female track-and-field Olympian great, launched lifestyle brand for women called Saysh. Company offers pre-orders of its first-ever sneakers - Saysh One - and lifetime membership to Saysh Collective with Felix raising USD 3 million of seed money.

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Key Segments

By Product Type:

• Running Shoes
• Sport Shoes
• Trekking or Hiking Shoes
• Others

By Material Type:

• Polymer
• Plastic
• Rubber
• Carbon Fiber
• Silicone

By Size (USA) (% of Demand):

• 4 to 5 Size
• 6 to 7 Size
• 8 to 9 Size
• 10 to 11 Size
• 12 to 13 Size

By Consumer Orientation:

• Men
• Women
• Kids

By Sales Channel:

• Direct
• Indirect
o Hypermarkets or Supermarkets
o Departmental Stores
o Specialty Stores
o Multi-brand Stores
o ExclusiveStores or Franchised Stores
o Online Retailers
o Other Sales Channel

By Region:

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

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This release was published on openPR.