Athletic Footwear Market Valuation – 2024-2031

The growing emphasis on health and fitness lifestyles around the world is a major driver moving the athletic footwear market forward. According to the analyst from Market Research, the athletic footwear market is estimated to reach a valuation of USD 193.3 Billion over the forecast subjugating around USD 132.07 Billion valued in 2023.

The growing popularity of athleisure fashion trends is increasing demand for athletic footwear across all consumer categories and enabling the market to grow at a CAGR of 4.88% from 2024 to 2031.

Athletic Footwear Market: Definition/Overview

Athletic footwear, commonly known as sports shoes or sneakers, is specialized footwear developed for a variety of physical activities, sports, and workouts. These shoes are designed to keep the feet comfortable, supported, and protected during dynamic movements, high-impact activities, and extended durations of wear. They often have cushioned midsoles, supportive outsoles, breathable uppers, and other performance-enhancing characteristics designed for certain sports or activities. Sports footwear is designed for a variety of sports and recreational activities, including running, walking, basketball, tennis, soccer, and hiking.

Furthermore, its applications go beyond sports and fitness to everyday wear, thanks to the growing popularity of athleisure fashion trends, which feature comfortable and attractive sneakers used for both active and informal outings. Athletic footwear also plays an important part in injury prevention and performance development, providing athletes and enthusiasts with the confidence and support they need to achieve their fitness goals safely and comfortably.

What are the Drivers Influencing the Growth of the Athletic Footwear?

Increased knowledge of health, fitness, and the benefits of physical activity has increased involvement in sports and fitness activities across all ages. This trend has directly increased the demand for athletic footwear suited for a variety of sports and physical activities. People are becoming more aware of the necessity of remaining active, therefore they are looking for high-quality, durable, and supportive footwear that will improve their performance while also protecting them from injury.

The athletic footwear market has experienced major technological improvements in materials and design, resulting in improved performance, comfort, and durability. Improved cushioning systems, innovative materials with superior grip, and lightweight designs all contribute to increased athletic performance. Also, technology-enabled customization and personalization possibilities have grown in popularity among consumers, boosting market interest and sales.

Furthermore, athletic footwear has expanded beyond its conventional confines to become a mainstay in casual and streetwear fashion. Athletic shoes have become a fashion statement outside of the gym or sports fields, thanks to the combining of sports and fashion, sometimes known as “athleisure”. High-profile collaborations between athletic shoe makers and fashion designers, celebrities, and influencers have also helped to boost athletic footwear’s popularity, making it a trendy choice for consumers who value both style and functionality.

What are the Main Challenges Faced by the Athletic Footwear Market?

The athletic footwear market is fiercely competitive, with many brands competing for consumer attention and market share. This extreme competition causes market saturation, in which the supply of athletic shoes surpasses demand. To stand out, brands must constantly develop and differentiate their products, which raises production costs and puts pressure on profit margins. Also, the existence of both established giants and rising brands increases the competition for shelf space and consumer loyalty, making it difficult for enterprises to maintain or improve their market position.

Furthermore, the athletic footwear market is strongly reliant on global supply chains, with many corporations manufacturing items in nations with lower labor costs. However, this worldwide supply chain is vulnerable to disruptions caused by a variety of events, including political instability, trade conflicts, natural disasters, and pandemics such as COVID-19. These disruptions cause delays, higher expenses, and inventory difficulties, thereby affecting market growth.

Category-wise Acumens

What Factors Contribute to the Increasing Demand for Running and Walking Shoes?

According to analyst, the running and walking shoes segment is expected to dominate the segment within the athletic footwear market during the forecast period. Running and walking are among the most accessible kinds of exercise, appealing to a diverse range of people, including casual exercisers, serious athletes, and those who participate in regular physical activities for health reasons. This broad appeal generates a large, diverse consumer base for running and walking shoes, resulting in high demand across all age groups, fitness levels, and geographic regions.

The global rise in health consciousness, as well as the emphasis on physical fitness as a lifestyle choice, have all contributed to the popularity of running and walking as easy ways to improve fitness, lose weight, and maintain general health. This trend is increasing demand for running and walking shoes that provide cushioning, support, and durability.

Furthermore, running and walking shoes are benefiting from ongoing technological breakthroughs in materials and design, improving performance, comfort, and safety. Improved shock absorption, support technology, and materials with enhanced breathability and durability meet consumers’ growing need for high-quality footwear.

How does Men’s Higher Participation in Sports propel the Athletic Footwear Market?

The men’s segment is estimated to hold the largest share of the athletic footwear market during the forecast period. Men have historically been more likely to participate in sports and physical activities than women and children. This increased involvement has resulted in a greater need for athletic footwear tailored to the individual needs of diverse sports. Men’s athletic shoes appeal to a wide range of sports and activities, boosting sales in this segment.

The athletic footwear market has targeted men in its marketing campaigns, offering a wider choice of shoes intended exclusively for guys. High-profile endorsements and cooperation with male sportsmen and sports teams have strengthened this segment’s market dominance. This focused marketing strategy has enhanced both visibility and consumer preference for men’s athletic footwear.

Furthermore, men have traditionally shown a willingness to invest in high-quality athletic footwear, owing to the idea that these products improve athletic performance and are an essential part of sports apparel. Men’s consumer behavior, which includes a preference for functionality, durability, and brand reputation, contributing to an increase in the sales volumes in this market segment.

Gain Access to Athletic Footwear Market Report Methodology

Country/Region-wise Acumens

How will the Demand for Athletic Footwear in North America Influence the Market?

North America region is estimated to dominate the athletic footwear market during the forecast period. North America, particularly the United States, places a high emphasis on sports and physical fitness. Athletic engagement is strongly encouraged at all levels, from school leagues to professional sports teams. This high level of participation in sports and outdoor activities fuels the need for athletic footwear, as people look for shoes that give the necessary support, performance, and comfort for their unique activity.

North America is distinguished by a robust economy and high levels of disposable income among consumers. This financial security allows people to spend more money on non-essential items like sports footwear. Consumers in this area are eager to spend on high-quality, branded athletic shoes for their sports and fitness activities, fueling market expansion.

Furthermore, many of the world’s most successful athletic footwear brands are headquartered in North America, including Nike, Adidas (North American headquarters), and Under Armour. The existence of these brands, combined with a well-developed retail infrastructure, makes it simple for customers to access a diverse range of sports footwear.

What Factor Contributes to the Growth of Athletic Footwear in Asia Pacific?

Asia Pacific is estimated to exhibit the highest growth within the athletic footwear market during the forecast period. The fast development of the middle class, combined with rising disposable incomes, is one of the most important drivers of growth in the Asia Pacific athletic footwear market. As more people gain more discretionary money, consumer expenditure on lifestyle and leisure products, such as athletic footwear, rises in tandem. This financial empowerment enables people to invest in high-quality sports shoes that fulfill their fitness, leisure, and fashion needs.

People in majority of Asia Pacific countries are aware of the importance of health and fitness. This awareness is also spread  by government measures to promote physical health, as well as a growing cultural trend toward living a healthy lifestyle. As a result, engagement in sports, fitness activities, and outdoor excursions has increased, fueling demand for athletic footwear specifically intended for these activities.

Furthermore, rapid urbanization in the Asia-Pacific region has resulted in lifestyle changes that promote the use of athletic footwear. Recreational and fitness activities such as gym exercises, running, and participation in organized sports are frequently encouraged in urban environments. Also, the influence of Western culture and fashion trends, such as athleisure, has made athletic footwear a popular choice for both sports and casual wear.

Competitive Landscape

The athletic footwear market is highly competitive, with established brands, rising manufacturers, and private labels all vying for market share. Also, collaborations with athletes, celebrities, and influencers are frequent techniques used by market participants to increase brand visibility and appeal to target audiences.

Some of the prominent players operating in the athletic footwear market include:

• Nike
• Adidas
• Under Armour
• ASICS
• New Balance
• Puma
• Skechers
• VF Corporation
• Li Ning
• Anta
• Fila
• Merrell
• Hoka One One
• Brooks
• Saucony
• Salomon
• La Sportiva
• Danner
• On
• Hoka Hey

Latest Developments:

• In March 2024, Adidas, a leading athletic footwear and clothing business, introduced a new collaboration with vocalist Beyoncé to create a range of sustainable performance wear for women. This collaboration demonstrates the increased emphasis on sustainability in the athletic footwear market.
• In March 2024, Under Armour, a performance footwear and apparel manufacturer, announced excellent growth in its running shoe division over the last quarter.
• In March 2024, Skechers, a well-known company for its casual and athletic footwear, launched a new line of walking shoes that incorporate unique comfort technology. This concept addresses a burgeoning market sector focused on comfort and wellness footwear.

Report Scope

Athletic Footwear Market by Category

Type:

• Sports Shoes
• Tennis Shoes
• Soccer Shoes
• Basketball Shoes
• Cricket Shoes
• Others
• Running and Walking Shoes
• Hiking and Backpacking Shoes
• Aerobic and Gym Shoes

Distribution Channel:

• Supermarkets/Hypermarkets
• Specialty Stores
• Brand Outlets
• Online Channels

End-User:

• Men
• Women
• Kids

Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Research Methodology of Market Research:

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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