The key players in the global Athletic Footwear market in terms of value Adidas AG; ASICS Corporation; Lotto Sport Italia S.p.A; New Balance Athletics, Inc.; Vans, Inc.; Fila Inc.; Under Armour, Inc.; Nike, Inc.; Puma SE; and Reebok International Ltd.
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Athletic shoes are sporting shoes with the highest levels of flexibility and durability. The demand for footwear items is being driven by rising fitness trends and growing sports participation among people.
Companies are always introducing new elements into athletic footwear designs to give customers characteristics that increase comfort, durability, and aesthetic appeal. For example, in 2018, Nike developed ZoomX foam, which makes use of advanced technologies, or the carbon fibre plate, which improves runners' efficiency.
These days, consumers are more concerned with comfort features than with the cost of footwear items, which affects the market for expensive athletic footwear. In order to grow the athletic footwear business, companies employ celebrity endorsement strategies. In addition, businesses employ acquisition and merger strategies that aid in the improvement of their distribution networks and the creation of novel products. The development of lOT and digital connection technologies in athletic footwear aids in measuring an athlete's fitness activities and is reshaping the international athletic footwear market.
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The onslaught of the covid19 pandemic had a negative impact on the athletic footwear industry leading to shutdowns of several factories and distribution channels. The athletic footwear market is still attempting to recover from the major losses incurred during the pandemic.
The factor propelling the demand for athletic footwear is that consumers now have extra time for sports recreation. Moreover, the demand is influenced by shifting fashion trends as well as an increase in the use of athletic footwear as a regular article of casual clothing. The need for the more modern style of athletic footwear is also driven by evolving technology in athletic footwear design. The expansion of the market is fuelled by athletes' rising demand for athletic shoes as a result of enhanced sports facilities.
The need for the market is being driven by the growing e-commerce sector, which is giving businesses more opportunities to sell their goods online. Uncertain fluctuations in the cost and availability of raw materials, however, impede production and are predicted to restrain market expansion. Additionally, growing competition among significant companies makes it difficult for new competitors to enter the market and restrains it from expanding.
Due to the significant presence of numerous well-known firms in nations like the United States and Canada, including Adidas, Reebok, Under Armour, and others, the North American region is anticipated to account for a significant portion of the market. Additionally, a sizable economic segment of the population and shifting fashion trends are promoting market expansion in the area. Additionally, rising consumer expenditure on apparel is relevant. Sports shoes are becoming more and more in demand in the area. Due to rising investments in sports infrastructure facilities in nations like Japan, India, China, etc., the Asia Pacific area is anticipated to grow at a higher pace.
The major market growth restraint is the growing environmental concerns as this athletic footwear contributes to a lot of greenhouse gases. The athletic industry is responsible for the highest amount of pollution in the oceans and rivers, and governments worldwide have taken strict action against it.
Global Athletic Footwear Market – By Type
Trekking & Hiking Shoes
Global Athletic Footwear Market – End-user
Key questions answered in this report.
COVID 19 impact analysis on global Athletic Footwear industry.
What are the current market trends and dynamics in the Athletic Footwear market and valuable opportunities for emerging players?
What is driving Athletic Footwear market?
What are the key challenges to market growth?
Which segment accounts for the fastest CAGR during the forecast period?
Which product type segment holds a larger market share and why?
Are low and middle-income economies investing in the Athletic Footwear market?
Key growth pockets on the basis of regions, types, applications, and end-users
What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Unique data points of this report
Statistics on Athletic Footwear and spending worldwide
Recent trends across different regions in terms of adoption of Athletic Footwear across industries
Notable developments going on in the industry
Attractive investment proposition for segments as well as geography
Comparative scenario for all the segments for years 2018 (actual) and 2028 (forecast)
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