Athletic Footwear Market Size Worth $196.1 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, April 5, 2022 /PRNewswire/ — The global athletic footwear market size is expected to reach USD 196.1 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.9{a0ae49ae04129c4068d784f4a35ae39a7b56de88307d03cceed9a41caec42547} from 2022 to 2030. Athletic shoes have also been tailored for the casual market, and are popular, especially with young people.
Key Insights & Findings from the report:
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Based on type, the sports shoes segment held the second-largest revenue share in 2021. The rising health-conscious population, coupled with a high interest in athletic sports, is driving the demand for sports shoes.
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By end user, the men segment accounted for the largest revenue share in 2021. Sports shoes with flexibility, stability, traction, and durability are more popular among men. The women segment is expected to witness significant growth during the forecast period.
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Asia Pacific dominated the market in 2021 owing to the high enthusiasm among the citizens for sports, fitness, and adventure activities.
Read 80-page market research report, “Athletic Footwear Market Size, Share & Trends Analysis Report By Type (Running Shoes, Sports Shoes, Aerobic Shoes, Walking Shoes, Trekking & Hiking Shoes), By End User (Men, Women, Children), By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Athletic Footwear Market Growth & Trends
Athletic footwear is built for high performance and is considered a part of an athlete’s gear along with clothing and equipment. Athletic shoes provide sports-specific levels of cushioning, flexibility, stability, traction, and durability. Cushioning minimizes the force of impact.
Increasing awareness regarding the health benefits of sports and fitness activities that helps to reduce the risks of various illnesses, such as obesity, depression, and diabetes, is expected to fuel the growth of the market. Moreover, changing consumer lifestyles, a rise in the disposable income of consumers, and the growing retail e-commerce sector worldwide are some other factors expected to boost the market growth during the forecast period.
In addition, the technological advancements, development of new and innovative shoes, and increasing awareness regarding the importance of using the right type of shoes in order to prevent muscle injuries, leg injuries, and many others are stimulating the demand for athletic shoes. Moreover, emerging fashion trends of wearing branded athletic footwear mostly among youngsters are influencing the growth of the market. However, rising prices of raw materials and the increasing prevalence of fake and brand copied athletic footwear products are the factors that might restrict the market growth.
Given the combined effect of outlet closures and frugality resulting from the rapidly deteriorating economic situation, the discretionary character of footwear made it one of the most seriously hit businesses by the pandemic. Moreover, a decline in consumer demand for athletic footwear was noted by brands like Adidas, Nike, and Puma as consumers reduced or delayed discretionary spending in response to the impacts of COVID-19 owing to a rise in unemployment rates and diminished consumer confidence. Decreased retail traffic as a result of store closures, reduced operating hours, and social distancing restrictions could be noticed. The market is consolidated with the presence of a large number of international players and a few regional players.
Athletic Footwear Market Segmentation
Grand View Research has segmented the global athletic footwear market on the basis of type, end user, and region:
Athletic Footwear Type Outlook (Revenue, USD Million, 2017 – 2030)
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Aerobic Shoes
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Running Shoes
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Walking Shoes
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Trekking & Hiking Shoes
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Sports Shoes
Athletic Footwear End-user Outlook (Revenue, USD Million, 2017 – 2030)
Athletic Footwear Regional Outlook (Revenue, USD Million, 2017 – 2030)
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North America
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Europe
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Asia Pacific
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Central & South America
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Middle East & Africa
List of Key Players in Athletic Footwear Market
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Adidas AG
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ASICS Corporation
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Fila Inc.
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Under Armour, Inc.
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Lotto Sport Italia S.p.A
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New Balance Athletics, Inc.
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Vans, Inc.
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Nike, Inc.
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Puma SE
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Reebok International Ltd.
Check out more related studies published by Grand View Research:
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Sustainable Footwear Market – The global sustainable footwear market size is expected to reach USD 11.8 billion by 2027, expanding at a CAGR of 5.8{a0ae49ae04129c4068d784f4a35ae39a7b56de88307d03cceed9a41caec42547} from 2020 to 2027, according to a new report by Grand View Research, Inc. The market growth is attributed to the advancements and innovations pertaining to sustainable production methods and materials, along with functionality and comfort of footwear without compromising on the appeal.
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Tactical Footwear Market – The global tactical footwear market size is anticipated to reach USD 2.37 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.1{a0ae49ae04129c4068d784f4a35ae39a7b56de88307d03cceed9a41caec42547} from 2020 to 2027. Tactical footwear is usually heavier in terms of weight compared with conventional shoes and are used by military personal, paratrooper, public safety workers, and adventure sports enthusiasts.
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Medical Footwear Market – The global medical footwear market size is anticipated to reach USD 12.97 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.7{a0ae49ae04129c4068d784f4a35ae39a7b56de88307d03cceed9a41caec42547} over the forecast period. Increasing cases of foot-related issues, ankle sprain, ulcers, diabetes, and strain and foot pain owing to obesity are expected to fuel the growth of this market.
Browse through Grand View Research’s Clothing, Footwear & Accessories Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE Grand View Research, Inc.