The Athletic Footwear Global Market Report 2023 by The Business Research Company, provides athletic footwear market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Athletic Footwear Global Market Report 2023, the market size is expected to grow from $77.5 billion in 2022 to $81.85 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The athletic footwear market size is expected to grow to $102.06 billion in 2027 at a CAGR of 5.7%.
The rising number of sports tournaments is expected to propel the growth of the athletic footwear market. Sports tournaments refer to competitions, in which large sections of players compete against each other in a specific format to determine the overall winner. Individuals are increasingly participating in local or regional tournaments, to display their skills and represent themselves on the global stage for their country. Sports professionals and enthusiasts enrolled in various sports tournaments are mandated to wear athletic footwear to conduct a safe and competitive tournament. For instance, In February 2020, the International Cricket Council (ICC), the governing body of cricket, figured that T20 international cricket had witnessed a 14% growth in global participation. There was a 110% increase in associate member women’s T20 matches. Therefore, the rising number of sports tournaments will drive the growth of the athletic footwear market during the forecast period.
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The athletic footwear market is segmented:
1) By Product Type: Running Shoes, Sports Shoes, Trekking/Hiking Shoes, Other Product Types
2) By End User: Men, Women, Kids
3) By Distribution Channel: Hypermarkets/Supermarkets, Specialty Stores, Brand Outlets, Online Channels
The use of recycled material in shoe manufacturing is a key trend gaining popularity in the athletic footwear market. The companies operating in athletic footwear are focusing on utilizing recycled materials in shoes to reduce the carbon footprint, and meet their organization’s specific sustainable goals. For instance, In April 2022, Decathlon S.A., a French sporting goods company launched Traxium Compressor, a football shoe completely manufactured from recycled thermoplastic derived from end-of-life sporting goods such as plastic balls, shoes, and others. Additionally, in June 2021, Adidas, a manufacturer of apparel, shoes, clothing, and accessories, launched the Solarthon golf shoes, whose upper parts are made from 50% recycled parley ocean plastic.
The athletic footwear market report table of contents includes:
1. Executive Summary
2. Athletic Footwear Market Characteristics
3. Athletic Footwear Market Trends And Strategies
4. Athletic Footwear Forwarding Market – Macro Economic Scenario
5. COVID-19 Impact On Athletic Footwear Forwarding Market
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26. Africa Athletic Footwear Market
27. Athletic Footwear Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Athletic Footwear Market
29. Athletic Footwear Market Future Outlook and Potential Analysis
30. Appendix
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