Global Athletic Footwear Industry —
Athletic footwear is the kind of footwear that is designed for sports and outdoor activities. The global athletic footwear market had a market value of $37.76 billion in 2017 and is expected to go up to $114.8 billion by 2025, growing at a CAGR of 5.1%.
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The technological advancements in the athletic footwear industry allowed for the production of quality products to fulfill the need of consumers. There is also a recent increase in spending by consumers on comfortable footwear made from high-quality raw material. 3-D printing technology is increasingly adopted by industries to produce better quality shoes in less time.
Customers are focused on buying athletic footwear that is aesthetically appealing. The market growth stems from various color, design, and price options to meet the needs of individual customers. The key factor aiding market growth is increased participation in sports activities.
The global athletic footwear market is competitive with both national and international players with huge investments and brand reputation dominating the market.
E-commerce has experienced a huge demand globally, with online shopping, the most popular form of e-commerce. There is also a great opportunity for e-commerce growth due to easy and quick shopping. It makes shopping convenient, and most athletic footwear market leaders have set up such retail sites to improve the sales of the shoes and gain an edge over the competition.
The global athletic footwear market can be categorized by consumer group, product type, and end-user, and distribution.
The two primary consumer groups in the market segments include athletes and climbers with a substantial contribution to the market share. Gym goers have also contributed to the consumption of the product in the global market.
By product type, sports shoes, hiking shoes, running shoes, hiking and backpacking shoes, and aerobic- and gym-wear shoes have the most demand in the market. Of these, sports shoes, particularly tennis shoes, soccer shoes, basketball shoes, and cricket shoes, showed the most demand in 2018.
The athletic footwear users can be divided into men, women, and kids. The rising youth trends are predicted to show a greater demand for athletic footwear in the forecast period. Men were the main consumers of athletic footwear in 2017, in value as well as volume.
By distribution channel, online retail has been noted as the fastest-growing segment, due to the growth of e-commerce in developed countries offering ease of shopping.
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