Athletic footwear is a special kind of shoes, which are designed for sports and other outdoor activities. These types of shoes are widely used by athletes. These shoes provide easy movement control, better protection, mid-foot support as well as heel stabilization & cushioning. Moreover, athletic shoes also provide arch support, help in the prevention of injuries, help in fixing overpronation, improve athletic performance and help in fixing suspiration. These shoes are specifically designed for each different sport including baseball, tennis, basketball, and others. They also find the application for walking, gym, hiking, running, and others activities. The rising demand for exclusive designs and the increasing popularity of athletics among the millennium population is likely to drive the market demand worldwide.
As per analysis, “Athletic Footwear Market: Market Segments: By Product (Running Shoes, Sports Shoes, Aerobic Shoes, Walking Shoes and Trekking Shoes); Gender (Male, Female and Children); By Mode of Sale (Brick & Mortar and E-commerce); and Region – Global Analysis by Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030” the key companies operating in the global athletic footwear market include Wolverine World Wide Inc., Nike, Inc., SKECHERS USA, FILA, ASICS Corporation, Under Armour Inc., New Balance, Puma SE, VF Corporation and among others. The key manufacturers are continuously launching more innovative & comfortable shoes owing to rise in consumer demand for innovative products which is again fostering market growth.
Based on product type, athletic footwear market is segmented as walking shoes, aerobic shoes, sports shoes, running shoes, trekking & hiking shoes. Trekking & hiking shoe segment dominates the market owing to growth in advancements in technology that ensure more flexibility and comfort for hikers. Based on gender type, the market is segmented as male, female and children. In addition, based on the mode of sale, the market is segmented as e-commerce and brick or mortar.
The athletic footwear market is driven by rise in awareness regarding the health benefits of sports and fitness activities, followed by increase in disposable income of consumers, change in consumer lifestyle, growth in retail e-commerce sector, and increase in awareness about the importance of using right type of shoes in order to prevent leg injuries, muscle injuries, and many others. However, an increase in the prevalence of fake and brand copied athletic footwear products and rise in prices of raw materials may impact the market. Moreover, growth in the development of new and innovative shoe and rise in technological advancements are key opportunities for market. Furthermore, change in fashion trends among consumers is a major trend for the market.
By regional analysis, the North-America is a prevalent region in global athletic footwear market owing to high enthusiasm among men and women towards sporting & physical activities across the region. The Asia-Pacific and Europe regions are estimated to exhibit higher CAGR due to increase in penetration of international brands, growth in population, significant investments undertaken by top industry players coupled with increase in per capita income of people over the forecast period. It is expected that global athletic footwear market will be reached at rapid pace caused by rise in penetration of e-commerce websites during the forecast period.
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Ankur Gupta, Head Marketing & Communications