Athletic Footwear Market Size, Share & Trends Analysis Report By Type (Running Shoes, Sports Shoes, Aerobic Shoes, Walking Shoes, Trekking & Hiking Shoes), By End User (Men, Women, Children), By Region, And Segment Forecasts, 2022 - 2030
New York, June 16, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Athletic Footwear Market Size, Share & Trends Analysis Report By Type, By End User, By Region And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06251021/?utm_source=GNW
Athletic Footwear Market Growth & Trends
The global athletic footwear market size is expected to reach USD 196.1 billion by 2030. It is expected to expand at a CAGR of 4.9% from 2022 to 2030. Athletic shoes have also been tailored for the casual market, and are popular, especially with young people. Athletic footwear is built for high performance and is considered a part of an athlete’s gear along with clothing and equipment. Athletic shoes provide sports-specific levels of cushioning, flexibility, stability, traction, and durability. Cushioning minimizes the force of impact.
Increasing awareness regarding the health benefits of sports and fitness activities that helps to reduce the risks of various illnesses, such as obesity, depression, and diabetes, is expected to fuel the growth of the market. Moreover, changing consumer lifestyles, a rise in the disposable income of consumers, and the growing retail e-commerce sector worldwide are some other factors expected to boost the market growth during the forecast period.
In addition, the technological advancements, development of new and innovative shoes, and increasing awareness regarding the importance of using the right type of shoes in order to prevent muscle injuries, leg injuries, and many others are stimulating the demand for athletic shoes.Moreover, emerging fashion trends of wearing branded athletic footwear mostly among youngsters are influencing the growth of the market.
However, rising prices of raw materials and the increasing prevalence of fake and brand copied athletic footwear products are the factors that might restrict the market growth.
Given the combined effect of outlet closures and frugality resulting from the rapidly deteriorating economic situation, the discretionary character of footwear made it one of the most seriously hit businesses by the pandemic.Moreover, a decline in consumer demand for athletic footwear was noted by brands like Adidas, Nike, and Puma as consumers reduced or delayed discretionary spending in response to the impacts of COVID-19 owing to a rise in unemployment rates and diminished consumer confidence.
Decreased retail traffic as a result of store closures, reduced operating hours, and social distancing restrictions could be noticed. The market is consolidated with the presence of a large number of international players and a few regional players.
Athletic Footwear Market Report Highlights
• Based on type, the sports shoes segment held the second-largest revenue share in 2021. The rising health-conscious population, coupled with a high interest in athletic sports, is driving the demand for sports shoes
• By end user, the men segment accounted for the largest revenue share in 2021. Sports shoes with flexibility, stability, traction, and durability are more popular among men. The women segment is expected to witness significant growth during the forecast period
• Asia Pacific dominated the market in 2021 owing to the high enthusiasm among the citizens for sports, fitness, and adventure activities
Read the full report: https://www.reportlinker.com/p06251021/?utm_source=GNW
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