Dublin, June 15, 2022 (GLOBE NEWSWIRE) -- The "Global Athletic Footwear Market Size, Share & Industry Trends Analysis Report By Type (Running Shoes, Trekking & Hiking Shoes, Sports Shoes, Walking Shoes), By End User, By Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Athletic Footwear Market size is expected to reach $171.9 billion by 2028, rising at a market growth of 4.7% CAGR during the forecast period.
Athletic footwear refers to shoes that are designed for sports and other outdoor activities. People of all ages are wearing these as casual and fashion footwear. To meet the requirements and purchasing capacity of individual clients, there is a wide availability of footwear with colour, design, and pricing options.
Athletic footwear is a generic term for shoes that are designed to be worn while participating in sports. Sports shoes are primarily intended for use in active sports or other types of physical activity. They are necessary for athletes because they give flexibility, stability or motion control, road traction, torsional stability, and other advantages. Because of the expanding number of sporting competitions, demand for the product is increasing at a rapid pace.
Furthermore, sports like football, baseball, hockey, and others attract a large number of participants, propelling market expansion. Cricket has seen active involvement from both males and females, as per the Australian National Cricket Census. Furthermore, approximately 1.5 million Australians participate in cricket programs or competitions. As a result, an increase in the number of people participating in sports is anticipated to boost the market.
Nike, Inc., Adidas AG, Skechers USA, Inc., and New Balance Athletics, Inc. are among the market's leading players, focused on creating revolutionary technologies to improve the stability and comfort of sports shoes. Adidas AG, for example, has developed a Forged Mesh, a single-layer shoe upper with a ribbed pattern built utilising ARAMIS motion capture technology to determine foot strain. To enable unfettered foot mobility, the technology helps offer optimum flexibility and suitable support along the ankle. Adaptive Traxion, Boost, Bounce, Climachill, Promeknit, and Stableframe are some of Adidas AG's other proprietary innovations.
COVID-19 Impact Analysis
Covid-19 has had a big impact on the sports footwear and apparel industries in the United States. In terms of brands, Nike brand footwear sales were down in the high teens, Jordan brand footwear was down in the low teens, and Converse sales were down by more than 30%. Adidas, Skechers, ASICS, and Vans all saw a drop in the teens, while Under Armour had a 25% drop and Fila saw a nearly 50% drop. The global athletic footwear market has been severely impacted by the COVID-19 pandemic. Due to the closure of key distribution routes around the world in an attempt to limit the spread of coronavirus, the COVID-19 pandemic had a substantial impact on the supermarkets/hypermarkets category.
Market Growth Factors:
The rise in the number of Government initiatives
Consumers" expanding purchasing power and disposable incomes have become crucial trends in the industry. As people's income levels rise, they're more willing to pay more for certain performance qualities including waterproofing, moisture management, temperature control, and friction regulation.
Moreover, the growing number of different retail locations, hypermarkets, and supermarkets is expected to impact the market in the upcoming years. Global, regional, and municipal governments are focusing on health and developing innovative tactics to raise people's attention to the benefits of physical activity. Several wealthy countries" government bodies are continually working to build enticing healthcare offers. This will generate a higher demand for athletic footwear at the same time, as a large section of the population will be interested in sports and fitness activities.
Increasing participation in sports and physical activities
The global market is characterized by the rising prevalence of chronic diseases due to a lack of activity and a growing health-conscious population, particularly in metropolitan areas. In addition, sports shoe demand is expected to rise as more emerging countries focus on creating gyms and sports infrastructure. According to the 2019 International Health & Fitness Association Report, the global fitness club membership grew by 183 million people. In recent years, there has been an increased sports involvement by children and teenagers.
Marketing Restraining Factor:
Availability of low-cost local products
The manufacturers in the market is expected to witness many challenges including a lack of sports possibilities and a reduced penetration of high-cost sports footwear in rural areas and low-income countries. In addition, the availability of low-cost counterfeit products, as well as the rise of various small-scale market participants, has created a threat to high-priced branded footwear. Moreover, there are many local players in many countries who are offering similar types of shoes at low-cost in order to entice young consumers, thereby posing a big challenge for the established industry players.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
188.8.131.52 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.1 Market Share Analysis, 2020
3.2 Top Winning Strategies
3.2.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.2.2 Key Strategic Move: (Product Launches and Product Expansions : 2018, Jan - 2022, Feb) Leading Players
Chapter 4. Global Athletic Footwear Market by Type
4.1 Global Running Shoes Market by Region
4.2 Global Trekking & Hiking Shoes Market by Region
4.3 Global Sports Shoes Market by Region
4.4 Global Walking Shoes Market by Region
4.5 Global Aerobic Shoes Market by Region
Chapter 5. Global Athletic Footwear Market by End-user
5.1 Global Men Market by Region
5.2 Global Women Market by Region
5.3 Global Children Market by Region
Chapter 6. Global Athletic Footwear Market by Region
Chapter 7. Company Profiles
7.1 Adidas AG
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent strategies and developments:
184.108.40.206 Partnerships, Collaborations, and Agreements:
220.127.116.11 Product Launches and Product Expansions:
7.2 ASICS Corporation
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental Analysis
7.2.4 Recent strategies and developments:
18.104.22.168 Product Launches and Product Expansions:
7.3 FILA Holdings Corporation
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expenses
7.3.5 Recent strategies and developments:
22.214.171.124 Partnerships, Collaborations, and Agreements:
7.4 Under Armour, Inc.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental Analysis
7.4.4 Recent strategies and developments:
126.96.36.199 Product Launches AND Product Expansions:
7.5 Nike, Inc.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental Analysis
7.5.4 Recent strategies and developments:
188.8.131.52 Acquisitions and Mergers:
184.108.40.206 Product Launches and Product Expansions:
7.6 PUMA SE
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Regional Analysis
7.6.4 Research & Development Expense
7.6.5 Recent strategies and developments:
220.127.116.11 Partnerships, Collaborations, and Agreements:
7.7 VF Corporation
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Recent strategies and developments:
18.104.22.168 Product Launches and Product Expansions:
7.8 Lotto Sport Italia Spa
7.8.1 Company Overview
7.9 New Balance Athletics, Inc.
7.9.1 Company Overview
7.9.2 Recent strategies and developments:
22.214.171.124 Partnerships, Collaborations, and Agreements:
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