Athletic Footwear Market size is set to grow by USD 22.1 billion from 2024-2028, Rise in number of athletic tournaments to boost the market growth, Technavio

NEW YORK, June 12, 2024 /PRNewswire/ -- The global athletic footwear market  size is estimated to grow by USD 22.1 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.36%  during the forecast period. Rise in number of athletic tournaments is driving market growth, with a trend towards increasing availability of customized athletic footwear. However, fluctuations in prices of raw materials  poses a challenge. Key market players include Adidas AG, Admiral Sportwear Ltd., ASICS Corp., BasicNet Spa, Bata Brands Sarl, British Knights Int B.V., Brooks Sports Inc., Diadora Spa, Fila Holdings Corp., K Swiss Inc., Lotto Sport Italia Spa, Mirza International Ltd., Mizuno Corp., New Balance Athletics Inc., Nike Inc., PUMA SE, Skechers USA Inc., Under Armour Inc., VF Corp., and Wolverine World Wide Inc..

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Key Market Trends Fueling Growth

The athletic footwear market is witnessing a shift towards mass customization and personalization, driven by advancements in technology and supply chain transformations. Brands like Nike and Reebok are leading this trend, allowing consumers to create customized athletic footwear through online tools and innovative manufacturing techniques.

This not only enhances consumer comfort but also caters to specific medical needs, leading to increased demand and brand loyalty. ASICS is another major player utilizing microwave technology for customized sole manufacturing. Overall, customization is a key growth driver for the athletic footwear market. 

The athletic footwear market is currently experiencing significant growth, with various brands and companies introducing new and advanced products. Advanced materials like lightweight and breathable fabrics, cushioning technology, and responsive soles are trending in the market. Comfort and durability are key factors driving consumer demand. Shoes for running, training, and casual wear are popular categories. Brands are focusing on customization and personalization to cater to individual preferences. Maximum comfort and support are essential for athletes and fitness enthusiasts.

Hockey, soccer, and golf shoes also have a strong presence in the market. Sponsorship deals and collaborations with sports teams and influencers are common marketing strategies. Track shoes and racing flats are gaining traction for their performance benefits. Overall, the athletic footwear market is dynamic and competitive, with brands continually innovating to meet consumer needs. 

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Market Challenges

• The global athletic footwear market faces challenges due to volatile raw material prices. Leather, polyester, nylon, rubber, foam, and EVA are commonly used materials, with price fluctuations negatively impacting manufacturer profit margins. Local players have increased, leading to price wars and penetration pricing. Transportation costs also add to vendor ownership costs, making it difficult for manufacturers to anticipate investments and control costs. Cost-conscious consumers prefer affordable footwear, reducing sales and potentially hindering market growth.
• The athletic footwear market faces several challenges. With consumers desiring comfort and style, manufacturers must balance these factors. Durability is also a concern, as footwear must withstand intense use. Sustainability is an emerging challenge, as consumers and regulators push for eco-friendly materials and production methods.
• Cost is another issue, as prices must remain competitive while maintaining quality. Additionally, the market is becoming increasingly globalized, requiring companies to adapt to diverse markets and regulations. Lastly, technology plays a significant role, with advancements in materials and design constantly evolving consumer expectations.

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Segment Overview 

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. End-user 
• 2.1 Men
• 2.2 Women
• 2.3 Children
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Offline-  The global athletic footwear market in 2023 was led by the offline segment, which included specialty stores, hypermarkets, supermarkets, departmental stores, and others. Specialty stores, such as Road Runner Sports and The Athletic Shoe Shop, offer a wide range of popular athletic footwear brands and knowledgeable sales personnel, driving consumer preference.

Hypermarkets, supermarkets, and departmental stores, like Walmart and Target, provide diverse athletic footwear options at affordable prices, attracting consumers. Vendors are expanding offline operations to cater to various consumer categories and regions, maintaining the offline segment's growth during the forecast period.

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Research Analysis

The Athletic Footwear Market caters to the health and fitness needs of youngsters, athletes, and fitness-conscious customers. These individuals seek to maintain an active lifestyle, engaging in various sports activities such as baseball, soccer, golf, and spring sports.

Chronic disorders like hip pain and back pain are common concerns, making the demand for athletic shoes with advanced technologies like Boost, Bounce, Climachill, Promeknit, Stableframe, and other features that ensure comfort and support essential. Environmental concerns, including pollution, also influence consumer preferences, leading to the production of eco-friendly and sustainable athletic footwear.

Market Research Overview

The Athletic Footwear Market encompasses a wide range of shoes designed for various sports and physical activities. These footwear types include running shoes, basketball shoes, soccer shoes, and training shoes, among others. The market is driven by several factors, such as increasing health consciousness, growing popularity of sports and fitness activities, and technological advancements in footwear design and materials.

Comfort and performance are key considerations in the development of athletic footwear, with companies focusing on creating lightweight, breathable, and durable shoes that cater to the specific needs of different sports and activities. The market is also influenced by consumer preferences for style and aesthetics, leading to the release of new and innovative designs. Overall, the Athletic Footwear Market is a dynamic and competitive industry that continues to evolve in response to changing consumer demands and technological innovations.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• End-user
• Men
• Women
• Children
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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