Search Market Research Report
Athletic Footwear Market Size, Share Global Analysis Report, 2022 – 2030
Athletic Footwear Market Size, Share, Growth Analysis Report By End-User (Women, Men, and Kids), By Type (Aerobic Shoes, Running Shoes, Trekking & Hiking Shoes, Sport Shoes, Walking Shoes, and Others), By Distribution Channel (Brand Stores, E-commerce, Supermarkets & Hypermarkets, Local Stores, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030
Industry Insights
[230+ Pages Report] According to the report published by Facts and Factors, the global athletic footwear market size was worth around USD 127.31 billion in 2021 and is predicted to grow to around USD 196.5 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5% between 2022 and 2030. The report analyzes the global athletic footwear market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the athletic footwear market.
Market Overview
Athletic footwear is defined as shoes designed specifically for recreational activities or sports like exercising, and aerobic dancing. Athletic footwear is designed to meet the requirements of sports personalities. When participating in any physical activity, footwear becomes an important part that helps the person enhance final performance. They not only provide high-grade comfort in ways that assist in delivering the required performance support to the person wearing it.
During any sport, an athlete is exposed to tremendous pressure on the legs including the foot and ankle. Athletic shoes can help in replacing this pressure with more comfort thus allowing the person to focus entirely on performance and there are no distractions caused. Another important aspect of athletic footwear is the prevention of injuries which is extremely common during any sports event.
There are different types of athletic footwear depending on the sports they are supposed to be used for. Since every activity has its own set of demands from the player, the corresponding athletic footwear has to be designed keeping in view the final assistance the sportsperson may require. For instance, shoes worn for running have to simplify or promote foot strength, controlled motion, joint flexion in the lower extremity joints, and soft foot strikes.
Key Insights
- As per the analysis shared by our research analyst, the global athletic footwear market is estimated to grow annually at a CAGR of around 5% over the forecast period (2022-2030)
- In terms of revenue, the global athletic footwear market size was valued at around USD 127.31 billion in 2021 and is projected to reach USD 196.5 billion, by 2030.
- The market is projected to grow at a significant rate due to the growing emphasis on physical health
- Based on distribution channel segmentation, supermarkets & hypermarkets were predicted to show maximum market share in the year 2021
- Based on end-user segmentation, men were the leading users in 2021
- On the basis of region, North America was the leading revenue generator in 2021
Growth Drivers
- Growing importance of physical health to promote market growth
The global athletic footwear market is projected to benefit from the rising level of awareness amongst the population about the importance of physical health encouraging them to participate in some form of sports or recreational activity. Athletic footwear is not designed only for people who play at competitive levels but any person who has undertaken any form of physical exertion ranging from slow walking or sprinting to other sports as well. With the growing number of desk jobs globally, people are being encouraged to ensure that the body receives some form of physical movement throughout the day and the population has started taking physical health seriously.
In 2020 and 2021, when most of the world was witnessing strict lockdown impositions, many people resorted to home workouts using social media or online trainers to relieve the stress caused by Covid-19 and its impact. A recent Finder survey representing national data of Australia recorded that nearly 32% of Australians have a gym membership. Other factors like corporations initiating workout programs at offices for employees, increasing the opening rate of sports centers, and growing disposable income could also promote global market growth.
Athletic Footwear Market: Restraints
- High cost to restrict market expansion
Athletic footwear is designed with accuracy to meet the demands of a sports activity. Multiple resources are invested during the research and production phase of athletic footwear which is the main reason why generally such shoes are more expensive than casual or everyday shoes. The average price of running shoes currently lies between USD 115 to USD 120 which may not be affordable for medium to low-income groups thus restricting the global market growth.
Opportunities
- Growing number of popular personalities entering the market to provide growth opportunities
The athletic footwear industry players have found a lucrative way of attracting more consumers to their brands. They have started investing in popular sports or non-sports personalities and making them the face of the brand automatically drawing a large number of loyal followers of the personality toward the brand. This is an excellent advertising method employed by corporations working in the segment. For instance, when Puma, a giant in the industry, signed Virat Kohli, an Indian cricket player, the company's growth revenue jumped to 23% in the fiscal year 2019.
Challenges
- Growing presence of counterfeit sellers to act as a major challenge
There is a growing number of counterfeit sellers of athletic footwear in the global athletic footwear market, especially in the e-commerce segment. Most of these counterfeit products are extremely close in appearance to the original brand making it difficult for consumers to distinguish between the two. This is a major challenge for the global athletic footwear market players since many companies clock in high losses due to presence of the non-original items in the market. For instance, a recent report pointed out that Nike loses almost 10% of its revenue due to counterfeit products.
Segmentation Analysis
The global athletic footwear market is segmented based on end-user, type, distribution channel, and region
- Based on end-user, the global market is segmented as women, men, and kids
- In 2021, the global market was dominated by the men's segment and is expected to continue with its growth trend with the women segment contributing significantly during the forecast period
- Although the number of women undertaking sports and recreational activities is growing consistently over the year, numerically the ratio of men to women visiting sports centers is higher in favor of men
- As per Gauthmath, the said ratio stands at 14:9
- Based on distribution channel, the global market is divided into brand stores, e-commerce, supermarkets & hypermarkets, local stores, and others.
- The global market registered the highest growth in the supermarkets & hypermarkets segment since they offer a multitude of brand options to buy from under one roof
- Brand stores and e-commerce segments are also expected to emerge as high contributors to the global market growth
- As of October 2022, Nike’s sales value from the first-party e-commerce segment was almost 21% of the total sales revenue
- Based on type, the global market is divided into aerobic shoes, running shoes, trekking & hiking shoes, sports shoes, walking shoes, and others.
Recent Developments:
- In October 2022, Under Armor, a leading athletic athleticwear giant, announced the expansion of its running shoe portfolio in the Indian market. The company has launched UA HOVR Phantom 3 in the region and the product is designed for sports people participating in track events. It has already been validated after testing from the company’s Under Armour Athletes’ team
- In March 2022, Lululemon, a Canada-based athletic apparel retailer, entered the footwear segment by launching its first running shoe for the female population. The product line is called Blissfeel. With this move, the company plans to take on giants like Adidas, Nike, and others
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 127.31 Billion |
Projected Market Size in 2030 |
USD 196.5 Billion |
CAGR Growth Rate |
5% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2030 |
Key Market Players |
ASICS Corporation, Reebok International Ltd., Under Armour Inc., Nike Inc., Adidas AG, Lotto Sport Italia S.p.A, and others. |
Key Segment |
By End-User, Type, Distribution Channel, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
Request customized purchase options to meet your research needs. Explore purchase options |
Athletic Footwear Market: Regional Analysis
- North America to witness the highest growth
The global athletic footwear market is anticipated to register the highest growth in North America mainly driven by the high product penetration and easy accessibility to the products. Countries like the US and Canada are home to some of the most dominating players in the global market including Nike, Under Armor, and Adidas, three of the biggest names with the highest sales revenue consistently recorded over the last years.
Due to the superior grade quality of the product along with exhaustive advertising and marketing strategies adopted, these brands have created a massive following of dedicated consumers across the globe. Air Jordan, Nike’s segment of modern basketball shoes created in collaboration with Michael Jordan, the world’s most popular basketball player, is one of the largest selling product segments for Nike generating more than USD 2 to 3 billion every year since its first launch in 1984.
Competitive Analysis
- ASICS Corporation
- Reebok International Ltd.
- Under Armour Inc.
- Nike Inc.
- Adidas AG
- Lotto Sport Italia S.p.A.
The global athletic footwear market is segmented as follows:
By End-User Segment Analysis
- Women
- Men
- Kids
By Type Segment Analysis
- Aerobic Shoes
- Running Shoes
- Trekking & Hiking Shoes
- Sport Shoes
- Walking Shoes
- Others
By Distribution Channel Segment Analysis
- Brand Stores
- E-commerce
- Supermarkets & Hypermarkets
- Local Stores
- Others
By Regional Segment Analysis
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major Market Players
- ASICS Corporation
- Reebok International Ltd.
- Under Armour Inc.
- Nike Inc.
- Adidas AG
- Lotto Sport Italia S.p.A.
Copyright © 2023 - 2024, All Rights Reserved, Facts and Factors