Global Basketball Shoes Market Rising Demand Leads to Sustained Growth during the Period 2017-2022

Basketball is a global game and has several accessories. Basketball shoes is one of the accessories which the amateurs and professionals wear during play. The benefits of shoes include firmness, grip, safety to ankle, and overall look. These shoes also have certain limitations which might hinder the growth of the global market, such as, damage due to external factors due to poor material. These shoes come in different sizes, prices, designs and shapes. North America region is dominating in the global market of basketball shoes and has high market attractiveness index. The report, compiled by Fact.MR, provides in-depth analysis of the global basketball shoes market for the forecast period 2017-2022, and offers key insights about future market direction.

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The report offers an overview of the basketball shoes market. This comprises an introduction to the market, along with a standard definition of the product – basketball shoes. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.

The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.

In order to offer readers with up-to-date information about the latest advancements in the global basketball shoes market, the report provides updates about market opportunities, which can benefit leading manufacturers of basketball shoes. With continuous evolution of the sports industry, keeping a record of latest developments and trends is fundamental for basketball shoes manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.

Forecast Highlights on Global Basketball Shoes Market

1) High tops segment by shoes type is expected to grow at a higher growth rate as compared to other segments and is poised to continue showing its dominance throughout the period of forecast. The segment growth is mainly due to its foot friendliness and support while playing. The high tops segment is anticipated to grow at a CAGR of 2.8% throughout the period of forecast
2) The medium tops and low tops segments are expected to grow at a similar pace during the period of 2017 to 2022. The medium tops segment, however, has a higher market share than the low tops segment, and reflects a market share of 32.4%. Both are expected to lose BPS by the end of 2022
3) Laces segment is expected to dominate the global market by closure type. The segment is poised to grow at a higher growth rate comparatively, and reflects a market share of 57.1%. the straps segment follows laces segment and is second from top with respect to growth rate and market share
4) North America region dominates the global market by region and has a higher market attractiveness index. It is considered to be the most lucrative region growing at a higher growth rate and registering a CAGR of 2.7% as compared to other regions. Basketball as a recreational game and as career is rising in this region, with bath professionals and amateurs opting for the game and also the basketball accessories, thereby raising the consumption bar of basketball shoes in this region
5) The individual segment by buyer type is fastest growing segment compared to institutional and promotional segments by buyer type. The individual segment shoes higher market share by dominating the market and is expected to grow at a CAGR of 2.9% throughout the period of forecast. It is also expected to gain a high BPS by the end of 2022
6) Third party online channel segment dominates the global basketball shoes market by sales channel. It also shows a comparatively higher growth rate and anticipated to reflect a CAGR of 3.4% throughout the period of forecast of 2017 to 2022. Following this segment, the direct consumer brand outlet segment also shows potential and grows at a reasonably well growth rate during the forecast period

Laces Segment vs. Straps Segment, One Tough Call to Make
The laces segment by closure type is expected to grow at a higher rate followed by the straps segment. However, the laces segment shows higher market share and dominates the market. The straps segment comes second in line with respect to value market share and it would be advisable to invest in these two segments as per regional outlook, especially in North America the laces segment could find better opportunities the laces segment is shows a market share of 57.1% as of 2017 and this trend is anticipated to continue throughout the period of forecast.

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Third Party Online Channel Grows Stronger
The third party online channel segment by sales channel shoes a higher growth rate comparatively during the period of forecast with a higher market share by revenue thereby dominating the global market. This segment is poised to register a CAGR of 3.4% during the period of forecast. Following this segment, the direct customer brand outlet segment shoes good potential and is expected to grow at a steady rate during the period of forecast.

Competition Tracking
The report also profiles companies that are expected to remain active in the expansion of the global basketball shoes market through 2022, which include Adidas AG, NIKE, Inc., Peak Sports USA, PUMA SE, ANTA Sports Products Ltd, Li Ning Co., Ltd, Under Armour, Inc., Reebok International Ltd., Amer Sports Corporation and Xtep International Holdings Limited.

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This release was published on openPR.