A new report published by Fact.MR has projected the global football shoes market to exhibit a sluggish expansion throughout the forecast period (2017-2022). Approximately US$ 19,000 Mn revenues will be accounted by the global football shoes market by 2024-end.
The football shoes manufactured currently utilize leather, or synthetic materials. Even though these materials are found have several advantages, players have been experiencing various challenges pertaining to football shoes prepared by these materials.
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The elastic property of leather football shoes have benefitted various players by conforming to their foot sizes, perfectly fitting them. However, the same property of leather sometimes is observed to result into plastic deformation, leading towards the replacement of shoes. Higher potential of leather in water absorption adds to the weight of football shoes, and complicate their cleaning procedure. Leather football shoes, as they are produced a naturally derived material, entail high costs.
Moreover, less choices of color are available in leather shoes, unlike the synthetic ones. Although synthetic material offers high water resistant capability, they get slicker during prolonged exposure to water, for example – in rain, further resulting into less feeling on the football. As synthetic material is inorganic, football shoes produced using this material need longer break-in times. The aforementioned factors might influence demand for football shoes across the globe. In addition, substantial rise in the availability of counterfeit football shoes, which are produced by local manufacturers has been affecting the distribution channels worldwide. New market entrants, such as New Balance, are incurring challenges for predominant players including Nike and Adidas. These factors are further expected to impact growth of the market in the near future.
Third Party Online – Fastest Expanding Distribution Channel for Football Shoes
Third party online sales channel in the global football shoes market will account for revenues over US$ 4,000 Mn by 2024-end. This sales channel segment is projected to retain its dominance in the market, with sales reflecting the fastest expansion through 2024. Based on buyer type, individual segment is expected to account for over two-third revenue share of the market over the forecast period.
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Key market players profiled in the report of Fact.MR include PUMA SE, Adidas AG, Pantofola d’Oro SpA, ASICS Corporation, Diadora Sports S.r.l, Select Sport A/S, Mizuno Corporation, Joma Sport SA, NIKE, Inc., and Under Armour, Inc.
Europe to Remain Most Attractive Market for Football Shoes
Europe will continue to be the most attractive market for football shoes, in terms of revenues. Revenues from football shoes sales in Europe are expected to exceed US$ 8,000 Mn by 2024-end. Asia-Pacific excluding Japan (APEJ) is projected to remain the second largest market for football shoes.
Based on material type, synthetic and synthetic leather are expected to remain sought-after among football players across the globe. Revenues from these two material type segments are expected to collectively hold more than half share of the market during 2017 to 2024. Based on shoes type, firm ground football shoes will remain preferred among players, followed by hard ground shoes. Revenues from sales of firm ground football shoes will account for more than 33% share of the market by 2024-end. In addition, hard ground shoes are estimated to exhibit the fastest expansion in sales through 2024.
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