At 7.68% CAGR, Trail Running Shoes Market is Projected to Reach USD 5.14 Bn by 2027, Says Brandessence Market Research

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Brandessence Market Research And Consulting Private Limited

Nov 01, 2021, 07:00 ET

LONDON, Nov. 1, 2021 /PRNewswire/ -- Global demand for trail running shoes market, in terms of revenue, was worth of USD 3.07 Billion in 2020 and is expected to reach USD 5.14 Billion in 2027, growing at a CAGR of 7.68% from 2021 to 2027. The global trail running shoes market is expected to grow at a significant rate due to the number of driving factors.

Increased need for spiritual connection with nature has driven the population of global hikers to over 120 million in 2020. The spiritual connection with nature remains key among non-sporting hikers. This is a key demographic for players in the global trail running shoes market.

Trail running promises to reach new heights of popularity, thanks to increased need for rejuvenation in a fast-paced life, and growing health consciousness. The increased competition among trail running shoemakers has led to increased diversity among products in recent years. Some key varieties in the market include heavy soles providing tremendous protection, or light varieties offering tremendous speeds, decreased weight, increased protection like waterproofing abilities, and many others. The growing popularity of trail running among urban dwellers, and increased promise of superior products for trail-running sport remain key drivers of growth in the trail running shoes market.

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Trail Running Shoes Market Trends

The increased product diversification remains key to growth in trail running shoes market. There is an increased awareness among consumers to purchase different shoes for different occasions, with a focus on avoiding injuries, and preparing for the occasion. For example, as per the data from the Footwear Distributors and Retailers of America (FDRA), while 30% consumers look at the price of the shoe, while purchasing a sport gear, 37% opt for the type of footwear, depending on their need for a special occasion. The limited advertising budget for trail shoes, and its high-price points for quality offerings remains a restraint to market growth. However, increased product offerings, and increased competition in the market are likely to increase the reach of these products to new customers in the near future.

Trail running has always remained an important sport worldwide, thanks to events like cross country competitions, marathons, and other running events. While events like marathons are known for their long-distances, cross country competitions exhibit ideal conditions for the use of trail running shoes. These competitions include running through hills, through challenging atmosphere like rain, and snow, and are ideal for shoes designed for testing conditions. Apart from cross country hikes, marathons, new forms of adventure activities like fastpacking, fell and mountain running also continue to increase popularity of adventure activities.

Trail Running Shoes Market

Men continue to dominate adoption of trail running shoes globally. According to Brandessence, men trail running shoes occupied over 64.20% share of the market in 2020. The increased drive for rejuvenation and ideal nature setting for social distancing are likely to drive growth of adventure sports like hiking in the near future.

The casual nature of hikers for trail running shoes with largest purchases coming from minimalist designs also remains a core feature of the trail running shoes market. In 2020, 36.67% consumers purchased minimalist shoes, with casual hikers staying away from high-priced quality products.

The high-quality trail running shoes require special attention in reaching out to customers. These suffer largely from lack of awareness, despite promising tremendous improvements in hiking experiences for majority. While the price point also remains out of reach for many, the lack of experience in wearing these shoes remains a key restraint to consumer deciding on their long-term use. Despite having a great product on hands, major players continue to fall behind in advertising support for maximalist shoes.

Sports Running Shoes Market continues to rise, despite challenges like Covid-19 pandemic. In 2020, the sale of shoes in general fell tremendously, due to major global lockdowns, and supply challenges. For example, in China, the sportswear giant Adidas reported a sales drop of US 1.13 billion in 2020. The drop witnessed in the first quarter was in line with China's ongoing challenge with a shortage of raw materials, and other inputs. The disruption remained a staple routine of the covid-19 pandemic, and the increased vaccination drives, and global e-commerce promises to bring back growth during the forecast period. Major companies like Adidas are making major investments in cloud adoption to meet, and reach more consumers online in the near future. The sports running shoes market has remained the most stable segment of the trail running shoes market, despite the covid-19 woes.

Market Segmentation –

By Type

Barefoot Shoes
Low profile Shoes
Traditional Shoes
Maximalist Shoes

By Application

Men trail running shoes
Women trail running shoes

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Trail Running Shoes Market: Regional Analysis

The trail running shoes market report is divided into key regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the North America is expected to hold the highest share of total revenues, thanks to increased adoption of nature adventures. Furthermore, the increased demand from American consumers to use different products for each occasion also promises major uplift for the market growth. Growing disposable income and increased adventure-seeking attitude among Asian millennials also promises a notable growth for the trail running shoes market.

Trail Running Shoes Market: Competitive Analysis

The global trail running shoes market is a fragmented, and competitive landscape. Some key players in the global arena are Salomon, Brooks, New Balance, Asics, The North Face, Deckers, Saucony, Montrail, The North Face, LOWA, Tecnica, Montrail, Nike, Adidas, , Scarpa, Vasque, and others.

Recent notable developments include launch of new products by Merrell. The company announced a hybrid offering in the market in line with high consumption by casual outdoor users. The product offering claims to be trail-ready, athletic, and stylish.

The British brand, inov-8 announced the 'first-ever graphene-based shoes' recently. The company claimed that the design innovation came from its collaboration with research institutes, and one atom in the new shoe is 200 times stronger than steal. The graphene, often touted as the wonder material in many manufacturing industries has deployed a material, which may promise lighter, and stronger shoes, a key need for both casual, and regular hikers in the trail running shoes market.

The new shoe offering in the market also continue to embed new innovations like thermal insulation for cold conditions, and waterproof materials for wet conditions. The increasing reduction in weights and growing features like being waterproof remain key to justifying high-price tag for quality products in the trail running shoes market.

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