With a Growth of USD 2.09 billion from 2022 to 2027, Adidas AG, ,ANTA Sports Products Ltd., ASICS Corp. and more among the key companies in the market, Technavio

NEW YORK, March 14, 2024 /PRNewswire/ -- The Football Shoes Market is set to achieve a Compound Annual Growth Rate (CAGR) of 4.36% between 2022 and 2027, propelling the market size to grow by an astonishing USD 2.09 billion during the forecast period. The research report also includes detailed analyses of the competitive landscape of the market and information about 16 market companies, including: Adidas AG, ,ANTA Sports Products Ltd., ASICS Corp., BasicNet Spa, Concave International Pty Ltd., Decathlon SA, Geox S.p.A, Iconix International, JOMA SPORT SA, Lotto Sport Italia Spa, Mizuno Corp, New Balance Athletics Inc., NEW MILLENNIUM SPORTS S.L., Nike Inc., Pantofola Doro Spa andPUMA SE. The growth is fueled by several factors, including frequent product launches by companies, the demand for premium football shoes, and strategic mergers and acquisitions. The market report covers extensive market segmentation based on distribution channel, type of football shoes, and geography. Additionally, the report includes historic market data from 2017 to 2021, providing valuable insights for companies to refine their marketing strategies and gain a competitive edge.

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Key takeaways

• Frequent Product Launches Drive Market: Companies' strategy of frequently launching new football shoe models keeps them up to date with the latest trends and preferences of consumers. Regular product launches generate excitement and anticipation among customers, leading to increased sales and customer loyalty.
• Increasing Online Penetration: The market is experiencing a significant shift towards online sales channels. E-commerce platforms and dedicated sports gear websites provide consumers with convenience, competitive pricing, and a diverse range of options, contributing to the rising popularity of online purchases.
• Counterfeit Products Pose a Challenge: The availability of counterfeit football shoes in the market poses a major challenge to genuine brands. These counterfeit goods damage the reputations of popular brands and lead to market share losses. It is essential for companies to tackle this issue to maintain customer trust.
• Offline Segment Shows Strong Potential: The offline segment, comprising specialty stores and brick-and-mortar retailers, is expected to witness significant growth. Consumers perceive offline stores as reliable sources for authentic shopping and prefer specialty stores offering popular football shoe brands.
• Leading Companies Shape the Market: Companies such as Adidas AG, Nike Inc., PUMA SE, and others dominate the football shoes market. These companies employ various strategies, including strategic alliances, product launches, and geographical expansion, to enhance their market presence.
• Opportunities for Growth: The report offers valuable insights into consumer adoption lifecycles, purchase criteria, and drivers of price sensitivity. Understanding these aspects can help companies refine their growth strategies and tailor their offerings to the evolving market demands.

To get an insight into the football shoes market drives and trends, download the sample report here.

Analyst Review

The football shoes market is witnessing a significant surge in spending, driven by heightened health consciousness and an increasing emphasis on athletic activity. As reported by the Huffington Post, initiatives promoting sports, particularly women's football, are gaining traction, with platforms like Sky Sports securing broadcasting rights for events such as the Women's Super League. This surge in interest is also bolstered by sustainable technology, with brands incorporating recycled materials to reduce waste production and combat land pollution.

Supply chain activities in the footwear section have adapted to cater to various playing surfaces, including grass pitches, soft ground, artificial ground, hard ground/multi-ground, and turf football. The market has also witnessed a notable demand for indoor football shoes, particularly in pre-season football games and during the summer, where consumers frequent shopping malls, departmental stores, and brick-and-mortar sports stores.

Consumer perception and shopping behavior play pivotal roles in driving the football shoes market forward. Brands engage in promotional activities to influence consumer choices, often allowing for trial of the product to align with consumer preferences. The firm ground segment remains dominant, catering to traditional preferences on grass pitches and softer grounds. However, there's a growing interest in specialized footwear for artificial and hard ground/multi-ground surfaces, especially in indoor football facilities.

The forecast for the football shoes market remains optimistic, with a compound annual growth rate (CAGR) reflecting the increasing global market demand. The upcoming FIFA World Cup and ongoing promotional activities are expected to further bolster sales. Brands continue to innovate, incorporating sustainable practices and advanced technologies to meet the evolving needs of consumers while minimizing environmental impact.

In conclusion, the football shoes market is a dynamic landscape influenced by factors such as health consciousness, athletic activity, media coverage, and sustainability initiatives. With a diverse range of playing surfaces and consumer preferences, brands must adapt their offerings and supply chains accordingly to maintain a competitive edge in this thriving sector of the sports industry.

To get an insight into the football shoes market drives and trends, download the sample report here.

Market Overview

In today's health-conscious society, athletic activity like women's football continues to rise, driving the demand for specialized footwear. Supply chain activities in the footwear section are adapting to meet these needs, particularly in developing shoes suitable for various terrains such as grass pitches and soft ground. The Huffington Post even highlights the importance of proper footwear in preventing injuries and enhancing performance. Consequently, spending on football shoes is on the rise as players prioritize quality and functionality. Manufacturers are innovating to provide durable yet comfortable options, ensuring athletes can perform at their best while safeguarding their health. The football shoes market stands at the intersection of sports, health, and technology, poised for continuous growth.

Download the sample report here.

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About Technavio

Technavio is a trusted source for industry news and insights that help companies stay ahead in today's competitive landscape. With a team of experienced analysts and researchers, we continuously scrutinize and evaluate the dynamic landscape of markets across the globe. Our comprehensive coverage, meticulous research methodologies, and pragmatic industry expertise have earned US the trust and reliance of a vast clientele, including over 100 esteemed Fortune 500 organizations.

SOURCE Technavio

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