Global Athletic Footwear Market is expected to grow at significant CAGR of 2.3% over the forecast period – Research Nester

The global athletic footwear market was valued at USD 75.2 Billion in 2015 and is projected to reach a value of USD 115.6 Billion by 2023. Further, the market is anticipated to register a CAGR of 2.3% over the forecast period i.e. 2016-2023. The demand of athletic footwear is expected to rise on the back of factors such as growing popularity of various games and rising concern towards health and fitness in urban regions across the globe.

“Athletic Footwear Market: Global Demand Analysis & Opportunity Outlook 2023”

The global athletic footwear is segmented by product into by insert which are further divided into Aerobics Shoes, Atheleisure Shoes, Running Shoes, Walking Shoes, sport shoes into Baseball Shoes, Basketball Shoes, Soccer Shoes, Tennis Shoes, Cricket Shoes, Other Sports Shoes, hiking shoes into Trekking Boots, Rugged Boots, Seasonal Boots, Specialty Boots, Mountaineering Boots and backpacking shoes which are divided into Technical Shoes and Approach Shoes; by end user into kids, women and men; by distribution channel into Shoe Stores, Sports and athletic good stores, Specialty Apparels Stores, Online Stores and others and by region.

Global Athletic Footwear Market is expected to grow at significant CAGR over the forecast period. The market is expanding on the back rapid innovations in the technology of the sole for different types of shoes that are more comfortable, efficient and environment friendly.

According to region North America athletic footwear market is expected to portray a positive growth due to higher disposable incomes to accommodate the changing lifestyles. Also, Asia Pacific market is expected to grow at the highest CAGR due to increasing dependence on online platforms with is constantly improving their supply chain activities to accommodate the rising demand from consumers. Further, China has the largest market share in the regional platform and is expected to continue its dominance over the forecast period.

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Consumer Behavior

Global Athletic Footwear market is propelled by the increasing technological advancements due to R&D activities in the field, speedy improvements and innovations in production technologies. Rise in acceptance of new fashionable footwear in developed nations are further stimulating the global market for Athletic Footwear. Increased consumer comfort, constantly evolving fashion environment, rising disposable income to accommodate the lifestyle changes etc. are some of the factors boosting the demand for athletic footwear globally. However the constraints associated with production costs are expected to negatively impact the market for athletic footwear.

The report titled “Global Athletic Footwear Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global Athletic Footwear market in terms of market segmentation by product, by distribution channel and by end user. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the global Athletic Footwear market which includes company profiling of Adidas, Reebok, Nike, Puma, Converse, Vans, Wolverine Worldwide Inc., Asics, Skechers and Avia. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global athletic footwear market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future. 

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