Athletic Footwear Market - Leading Growth Drivers, Emerging Technologies and Analysis Segmented by Applications, Key Players, Future Trends and Growth Prospects to 2023
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Adidas AG, Nike Inc, Puma SE, Reebok Inc, New Balance and some other major players dominate the global athletic footwear market. Heavy investments in research & development, brand building, product innovation& regular product launches and advertisement &marketing campaigns, improvement in distribution channels and e-commerce sales, and the use of advanced materials & technologies for new products characterizes the global athletic footwear market.
Adoption of advanced technologies, high quality advanced raw materials and introduction of various types of footwear for different uses are driving the growth of the global athletic footwear market. The inclination of consumers towards healthy lifestyle and rising disposable income are driving the demand for the athletic footwear for casual, fitness and sporting purposes. Moreover, the growing interest among people towards fitness, adventurous and sporting activities is generating demand for various type of athletic footwear to cope up with the demands of those activities. The increasing number of sporting events in a year is anticipated to drive the demand for athletic footwear from sportspersons. The increasing demand for athletic footwear as casual or fashion wear is driving the growth of the athletic footwear market. The establishment of strong distribution channels and the expansion of e-commerce to smaller cities and towns are driving the growth of the global athletic footwear market. Use of 3-D printing technology and lightweight materials are anticipated to enhance the growth of the market, aslocalized manufacturing at shorter timeframe and better customization of products to suit the customers’ needs will be possible. The growing popularity of sporting events, huge investments by sporting franchises and the athletic footwear manufacturers to promote the stars and their brands are influencing the customers to buy replica apparels, athletic footwear and other gears. Men’s segment dominates the global athletic footwear market with a share of more than half of the overall sales. Due to the increasing awareness about the need for ecofriendly products, the use of recycled plastics and biodegradable materials for manufacturing are anticipated to drive the growth of the global footwear during the forecast period.
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The availability of counterfeit products is restraining the growth of the market, as it affects the brand and the revenue of the manufacturers. The increasing prices of the raw materials are hindering the growth of the market. The increasing competition from the smaller and local manufacturers is a major restraint for the major players in the market. Growing environmental concerns about the use of synthetic rubber is a major challenge for the market. There are opportunities for the major players in the market to expand in the casual and fashionable athletic footwear segments. The eco-friendly products are expected to provide growth opportunities for major players in the athletic footwear market during the forecast period 2017-2023.
The report covers the analysis of global as well as regional markets of athletic footwear market. Moreover, the global athletic footwear market is segmented by end user, by distribution channel and by product type. The global athletic footwear market by end user covers kids, men and women. On the basis of distribution channel, the market is segmented as athletic and sports goods stores, branded sports apparel stores, shoe stores and online stores among others. Based on product type, the market is segmented as back packing shoes, hiking shoes, insert shoes and sports shoes among others.
The global athletic footwear market covers the analysis of geographies such as North America, Europe, Asia-Pacific and RoW. In this section, the key trends and market size for each region is provided over the period of 2017 – 2023.
Among geographies, Asia-Pacific is the largest athletic footwear market with a global share of more than 40% and it is anticipated to be the fastest growing market in terms of CAGR over the forecast period 2017-2023. Presence of huge aspiring young middle class population with interest in fashion wear and sporting products drives the growth of the Asia-Pacific athletic footwear market. Europe is the second largest athletic footwear market and it is expected to grow significantly due to the presence of huge number of sporting events, sporting clubs and dedicated fan following. North America is expected to attain moderate growth rates due to the increasing raw material cost, higher labor cost as well as stiff competition among manufacturers.
The companies covered in the report include manufacturers of global athletic footwear market include Adidas AG, Asics Corporation, Converse, FILA, New Balance , Nike Inc, Puma SE ,Reebok Inc, Skechers, Under Armour, Vans, VF Corp, and Wolverine Worldwide Inc.
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The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of athletic footwear globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider.
Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the athletic footwear market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the athletic footwear market to understand the present and future trends in this market and formulate their strategies accordingly.
Infinium Global Research and Consulting Solutions is started with a single motto of being business partner of first choice. We at Infinium work on the strengths of our clients to ensure we help them consolidate their market position. We firmly believe in the fact that ‘if you are able to develop newer opportunities then you find there is no dearth of opportunities for you. With our strategic research approaches and deep dive in the market segments, we try to find out new opportunities that our clients can encash with their existing resources. Our experts with over 100 years of cumulative experience in research offer the best in the industry services to our clients to ensure that they achieve their business goals.
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