Athletic footwear is used by athletes owing to their enhanced functionality. The global athletic footwear market is expected to witness growth which is impacted by several factors. There is increased participation of young population in sports and athletics. Along with rising interest, the awareness regarding health is also at its peak which calls for higher demand of athletic footwear in order to maintain foot health.
The athletic footwear market is influenced by several pluses such as mid foot balancing, cushioning, better speed control, anti-friction properties, comfort, breathability slowing down perspiration, new innovations in footwear which further improve their functionality such as reduction in weight and heel stabilization and easy availability. Europe region is more likely to dominate the global market and shows higher market attractiveness index. The global athletic footwear market is anticipated to show a value of more than US$ 83 Bn and is expected to grow at a moderate rate during the period of forecast of 2017 to 2024.
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7 Forecast Highlights on Global Athletic Footwear Market
- Europe region shows higher market attractiveness and dominates the global market with respect to higher revenue share. Asia-Pacific excluding Japan (APEJ) region is poised to grow at the highest rate reflecting a CAGR of 5.2% during the period of forecast
- Specialty boots segment by product type is anticipated to grow at a higher growth rate, yet has less market share. The running shoes segment by product type dominates the global market in terms of higher revenue share during 2017 and this trend is anticipated to continue during the forecast period
- From an investment standpoint, there is a tough call to make between running shoes segment and backpacking shoes segment as there is less difference between their market shares. However, the backpacking shoes segment has higher growth rate compared to running shoes segment. Backpacking shoes segment is poised to reflect a CAGR of 4.4% during the period of forecast
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- Men segment by demographics dominates the market and reflects a market share of 40.4% as of 2017. However, the women segment by demographics is anticipated to grow at the highest growth rate during the period of forecast of 2017 to 2024. The kids segment shoes a slow growth rate and is expected to experience a loss in BPS by the end of 2024
- Economy segment by price-based type dominates the market and a higher gain in the BPS by 2024 end. The super-premium segment is expected to grow at a similar pace as economy segment during the period of forecast
- Sport stores segment by distribution channel dominates the market in terms of higher market share and a moderate growth rate throughout the forecast period. Hypermarket/supermarket segment gives tough competition to this segment, their market shares having not much of a difference. Although, hypermarket/supermarket segment grows at a comparatively higher growth rate than sport stores segment during the forecast period
- Specialty stores segment is poised to grow at the highest growth rate as compared to other segments by distribution channel throughout the period of forecast and is poised to reflect a CAGR of 5%.
The report has also profiled leading players in the global market for athletic footwear, which would remain active through 2024. These include companies like K-Swiss INC., PUMA SE, Adidas AG, NIKE Inc., Amer Sports Corporation, Wolverine World Wide, Inc., Deckers Outdoor Corporation, VF Corporation, Skechers, INC., New Balance INC., and ASICS Corporation.
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