Dublin, June 15, 2022 (GLOBE NEWSWIRE) — The “Global Athletic Footwear Market Size, Share and Trend Analysis Report by Type (Running Shoes, Trekking & Hiking Shoes, Sports Shoes, Walking Shoes), By End-User, By regional outlook and forecast, 2022-2028″ report has been added to from ResearchAndMarkets.com offer.
The global sports footwear market size is expected to reach USD 171.9 billion by 2028, with the market growing at 4.7% CAGR during the forecast period.
Sports shoes refer to footwear designed for sports and other outdoor activities. People of all ages wear them as casual and fashionable shoes. To meet the requirements and purchasing ability of individual customers, there is a wide range of shoes with color, design and price options.
Athletic shoes are an umbrella term for shoes designed to be worn while playing sports. Athletic shoes are primarily intended for use in active sports or other types of physical activity. They are necessary for athletes because they provide flexibility, stability or motion control, road traction, torsional stability, and other benefits. Due to the increasing number of sports competitions, the demand for the product is increasing at a rapid pace.
Moreover, sports like football, baseball, hockey, and others are attracting a large number of participants, which is propelling the expansion of the market. Cricket has seen the active participation of both men and women, according to Australia’s National Cricket Census. In addition, approximately 1.5 million Australians participate in cricket programs or competitions. Accordingly, an increase in the number of people practicing sports is expected to boost the market.
Nike, Inc., Adidas AG, Skechers USA, Inc., and New Balance Athletics, Inc. are some of the major players in the market, focused on creating breakthrough technologies to improve the stability and comfort of athletic shoes. Adidas AG, for example, developed Forged Mesh, a single-layer shoe upper with a ribbed pattern constructed using ARAMIS motion-capture technology to determine foot tension. To allow unhindered mobility of the foot, the technology allows to offer optimal flexibility and adapted support along the ankle. Adaptive Traxion, Boost, Bounce, Climachill, Promeknit and Stableframe are some of the other exclusive innovations from Adidas AG.
COVID-19 Impact Analysis
Covid-19 has had a significant impact on the athletic footwear and apparel industries in the United States. In terms of brands, sales of Nike-branded shoes declined during the teens, Jordan-branded shoes declined during the teens, and Converse sales declined by more than 30%. Adidas, Skechers, ASICS and Vans all saw declines in teens, while Under Armor saw a drop of 25% and Fila a decline of almost 50%. The global sports footwear market has been severely impacted by the COVID-19 pandemic. Due to the closure of key distribution routes around the world in an attempt to limit the spread of the coronavirus, the COVID-19 pandemic has had a substantial impact on the supermarket/hypermarket category.
Market Growth Factors:
The proliferation of government initiatives
Increasing purchasing power and disposable income of consumers has become a crucial trend in the industry. As people’s income levels increase, they are more willing to pay more for certain performance qualities, including waterproofing, moisture management, temperature control, and friction regulation.
Moreover, the increasing number of different retail outlets, hypermarkets and supermarkets is expected to impact the market in the coming years. Global, regional and city governments are focusing on health and developing innovative tactics to draw people’s attention to the benefits of physical activity. Government bodies in several wealthy countries are constantly striving to build attractive health care offers. At the same time, this will generate an increased demand for sports shoes, as a large part of the population will be interested in sports and fitness activities.
Increase participation in sports and physical activities
The global market is characterized by the increasing prevalence of chronic diseases due to lack of activity and a growing health conscious population, especially in metropolitan areas. In addition, the demand for sports shoes is expected to increase as more and more emerging countries focus on building gyms and sports facilities. According to the International Health & Fitness Association’s 2019 report, membership in fitness clubs worldwide increased by 183 million people. In recent years, there has been an increase in sports participation among children and adolescents.
Marketing Restriction Factor:
Availability of local products at low prices
Market manufacturers are expected to face numerous challenges including a lack of athletic opportunities and reduced penetration of high-cost sports shoes in rural areas and low-income countries. Furthermore, the availability of low-priced counterfeit products, along with the rise of various small-scale market players, has created a threat for high-priced branded shoes. Moreover, many local players in many countries offer similar types of shoes at low prices in order to attract young consumers, which poses a big challenge for established players in the industry.
Main topics covered:
Chapter 1. Market Scope and Methodology
Chapter 2. Market Overview
126.96.36.199 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market constraints
Chapter 3. Competitive Analysis – Global
3.1 Cardinal matrix
3.2 Recent Industry-Wide Strategic Developments
3.2.1 Partnerships, collaborations and agreements
3.2.2 Product launches and product extensions
3.2.3 Acquisitions and mergers
3.1 Market share analysis, 2020
3.2 Main winning strategies
3.2.1 Key Primary Strategies: Percentage Breakdown (2018-2022)
3.2.2 Key Strategic Movement: (Product Launches and Product Extensions: 2018, Jan – 2022, Feb) Key Players
Chapter 4. Global Sports Footwear Market by Type
4.1 Global Running Shoes Market by Region
4.2 Global Trekking and Hiking Footwear Market by Region
4.3 Global Athletic Footwear Market by Region
4.4 Global Walking Shoes Market by Region
4.5 Global Aerobics Footwear Market by Region
Chapter 5. Global Sports Footwear Market by End User
5.1 Global Menswear Market by Region
5.2 Global Women Market by Region
5.3 Global Children Market by Region
Chapter 6. Global Sports Footwear Market by Region
Chapter 7. Business Profiles
7.1 Adidas AG
7.1.1 Presentation of the company
7.1.2 Financial analysis
7.1.3 Regional Analysis
7.1.4 Research and development costs
7.1.5 Strategies and recent developments:
188.8.131.52 Partnerships, collaborations and agreements:
184.108.40.206 Product launches and product extensions:
7.2 ASICS Company
7.2.1 Presentation of the company
7.2.2 Financial analysis
7.2.3 Segmental analysis
7.2.4 Strategies and recent developments:
220.127.116.11 Product launches and product extensions:
7.3 FILA Holdings Corporation
7.3.1 Presentation of the company
7.3.2 Financial analysis
7.3.3 Sectoral and regional analysis
7.3.4 Research & Development expenses
7.3.5 Strategies and recent developments:
18.104.22.168 Partnerships, collaborations and agreements:
7.4 Under Armour, Inc.
7.4.1 Company overview
7.4.2 Financial analysis
7.4.3 Segmental analysis
7.4.4 Strategies and recent developments:
22.214.171.124 Product launches AND product extensions:
7.5 Nike, Inc.
7.5.1 Presentation of the company
7.5.2 Financial analysis
7.5.3 Segmental analysis
7.5.4 Strategies and recent developments:
126.96.36.199 Acquisitions and mergers:
188.8.131.52 Product launches and product extensions:
7.6 PUMA SE
7.6.1 Company Overview
7.6.2 Financial analysis
7.6.3 Regional Analysis
7.6.4 Research and development costs
7.6.5 Strategies and recent developments:
184.108.40.206 Partnerships, collaborations and agreements:
7.7 VF Company
7.7.1 Company overview
7.7.2 Financial analysis
7.7.3 Sectoral and regional analysis
7.7.4 Strategies and recent developments:
220.127.116.11 Product launches and product extensions:
7.8 Spa Lotto Sport Italia
7.8.1 Company overview
7.9 New Balance Athletics, Inc.
7.9.1 Company overview
7.9.2 Strategies and recent developments:
18.104.22.168 Partnerships, collaborations and agreements:
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