Global Sports Footwear Market to 2030 – With Asics, Adidas and Nike Among Others – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Sports Footwear Market by Type, End User and Distribution Channel” report has been added to from ResearchAndMarkets.com offer.

Sports Footwear Market was valued at USD 109.7 Billion in 2020 and is projected to reach USD 165.0 Billion by 2030, registering a CAGR of 4.2% from 2020 to 2030.

Sports shoes refer to footwear designed for sports and other outdoor activities. The global consumption volume indicates a trend of using them as casual and fashionable footwear by people of all age groups. The market offers a variety of shoes with color, design, and price options to meet the needs and purchasing abilities of individual customers. The sports shoes market is highly competitive with players investing heavily in marketing and branding to differentiate themselves and attract more players. There are many smaller players that provide stiff competition to the global athletic shoe giants, mostly in developing markets.

Large population size coupled with increasing disposable income is among the major factors driving the demand for high-end footwear in developing markets. Increasing sales through online channels, innovative product launches, engaging marketing and promotional strategies are other factors that are propelling the overall growth of the sports shoes market. Rising environmental concerns and rising commodity prices are major challenges for players operating in the market. However, the market is expected to offer exciting business opportunities, owing to changing consumer lifestyles and increasing penetration of online retail.

Consumers are increasingly health conscious due to work-related stress and lifestyle disorders. Thus, the increase in the number of health-conscious consumers has created a high demand for sportswear and sports shoes, which, in turn, increases the growth of the overall market. Additionally, the increase in the trend of fashionable sportswear is propelling the growth of the sports shoes market. Additionally, continuous innovations in sportswear and footwear are notably contributing to the growth of the market. For example, Adidas has launched e-shoes (smart shoes) which feature shock absorption function based on body weight, running style, speed and running surface.

However, increasing inclination of children towards indoor leisure activities is expected to hamper the market growth over the forecast period. On the contrary, the increase in women’s participation in sports is expected to provide remunerative opportunities for the expansion of the sportswear and sports shoes market in the future.

The availability of counterfeit and cheap products limits the growth of the market. Sportswear and shoes from well-known brands have a high price range, which are not affordable for low-income groups. Therefore, local suppliers design same style products at comparatively lower cost. These products are of poor quality and harm the brand image of the precursors on the market, thus limiting the sales of original products. The availability of counterfeit or poor quality athletic apparel and footwear is limiting the sales of branded products, thereby threatening the growth of the athletic footwear market.

Market dynamics

Drivers

  • Rising Health Awareness Drives Market Growth

  • Rising public investment in sporting events drives demand for sports shoes

  • Rise in Sports-Inspired Kids Drives Demand for Sports Shoes Among Children

  • A growing number of points of sale

  • The emergence of new designs propels the market

Constraints

  • Rising environmental concerns are hampering market growth

  • Rise in commodity prices

  • Availability of counterfeit products

Opportunities

  • Changing consumer lifestyle

  • Booming fashion trends

  • Emerging role of e-commerce

Market segments:

By type

  • Sport shoes

  • Tennis shoes

  • Soccer shoes

  • basketball shoe

  • cricket shoes

  • Others

  • Running and walking shoes

  • Hiking shoes and backpack

  • Aerobics and sports shoes

Per end user

By distribution channel

  • Hypermarkets/Supermarkets

  • Specialized shop

  • Brand outlets

  • Online channels

By region

  • North America

  • we

  • Canada

  • Mexico

  • Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Russia

  • The rest of Europe

  • Asia Pacific

  • India

  • China

  • Japan

  • ASEAN

  • Australia and New Zealand

  • South Korea

  • Rest of Asia-Pacific

  • LAMEA

  • Brazil

  • Argentina

  • Saudi Arabia

  • South Africa

  • Rest of LAMEA

Companies cited

  • Asics Company

  • Adidas AG

  • Puma

  • Vf Corporation

  • Nike, Inc.

  • Fila Korea, Ltd.

  • New Balance, Inc.

  • Skechers Inc.

  • K-Swiss, Inc.

  • Wolverine World Wide Inc.

For more information on this report, visit https://www.researchandmarkets.com/r/f5is0a

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