The Athletic Footwear Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Athletic Footwear Global Market Report 2024, The athletic footwear market size has grown strongly in recent years. It will grow from $81.43 billion in 2023 to $85.8 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to increased global sporting events, urbanization and active lifestyles, brand loyalty and sneaker culture, increased health and fitness consciousness, casualization of workwear.
The athletic footwear market size is expected to see strong growth in the next few years. It will grow to $107.27 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to sustainable and eco-friendly footwear, expansion in emerging markets, sports tourism and events, performance and lifestyle fusion, inclusivity and diversity. Major trends in the forecast period include integration of technology, customization and personalization, collaborations and limited edition releases, digital retail and direct-to-consumer (DTC) channels, retro and vintage styles, fitness apps and wearables.
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 May 2023, according to the England and Wales Cricket Board, the governing body of cricket, around 2.6 million individuals engaged in cricket during 2022, with approximately 1.4 million players falling below the age of 16. The surge in young cricket enthusiasts has been supported by the ECB’s national initiatives. All Stars Cricket and Dynamos Cricket both of which, for the second consecutive year in 2022, attracted over 100,000 participants, contributing to the game’s growth among newcomers. 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 covered in this report 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
Major companies operating in the athletic footwear market are focusing on product innovation such as sustainable recycled material to meet consumer demand for eco-friendly options. Sustainable recycled material pertains to reusing materials to create new products, reducing waste and environmental impact. For instance, in April 2022, Nike Inc., a US-based sportswear company, launched the Nike Pegasus Turbo Next Nature is made with at least 50 percent recycled material by weight and employs 100 percent recycled Flyknit yarns in its upper for a snugger fit. This eco-conscious rendition of the renowned running shoe prioritizes sustainability through its recycled material design.
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 Market – Macro Economic Scenario
5. Global Athletic Footwear Market Size and Growth
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26. South America Athletic Footwear Market
27. Brazil Athletic Footwear Market
28. Middle East Athletic Footwear Market
29. Africa Athletic Footwear Market
30. Athletic Footwear Market Competitive Landscape And Company Profiles
Top Major Players:
- Nike Inc
- Adidas AG
- Lining
- VF Corporation
- Puma SE
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