Athletic Footwear Market is predicted to garner a compound annual growth rate (CAGR) of 7.15% in the calculated period.

The athletic footwear market consists of footwear that is intended to carry out sports and physical activities. Sportswear, aerobic shoes, walking and running shoes, and trekking shoes are mainly incorporated in the athletic footwear market. The material of athletic footwear is generally flexibly made of rubber, leather, and various synthetic materials. Ethylene-vinyl acetate (EVA) and polyurethane materials provide the cushion inside the footwear. In recent years, athletic footwear has been used for casual purposes as well. Athletic footwear comes with different names in different countries. The popularity of the market can be attributed to the variety it offers in terms of shapes, sizes, colours, and price ranges of the product.

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Market Segmentation:

Category:
Aerobic Shoes
Running Shoes
Walking Shoes
Trekking & Hiking Shoes
Sports Shoes
The market is dominated by the running shoe segment. Other segments’ popularity is regional, for instance, the U.S. has a significant share for sports shoes due to the popularity of baseball. Trekking and hiking shoes are also getting popular due to the development of more durable and comfortable products.

Gender:

Men
Women
Children
Unisex
The market is dominated by the men’s segment. Due to the promotion of sports among women, it is expected that the women’s segment will catch up to the men’s segment in terms of market share in developed nations.

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Retail Channel:

Brick & mortar stores
E-commerce
The majority of sales in the athletic footwear market were carried out through brick & mortar stores. Even though the contribution of the E-Commerce channel was low, the segment is expected to grow due to the growing traction of online platforms across the world.

Geographical and Regional Presence:

The global athletic footwear market can be divided into five key major regions: North America, Latin America, Europe, Middle East & Africa, and the Asia Pacific.

North America holds the largest share in the global athletic footwear market with over 30% market revenue in the forecast period. The region is expected to retain its dominance in the forecast period owing to growing awareness for health.

Preferential shift to a healthy lifestyle and popularity of fitness trends makes the Asia Pacific the second-largest shareholder in the global athletic footwear market in terms of revenue. The region will hold its position during the forecast period.

In terms of growth rate, Middle East & Africa is projecting the highest compound annual growth rate (CAGR). The primary drivers of the market are common for every region of the world. South Africa leads in terms of market share in the region, followed by Saudi Arabia. Quality and durability drive the demand in the region. The region has tremendous potential for market growth. Industry players are actively involved in enhancing the customer experience in the region.

Latin America is also expecting a significant growth rate in the forecast period. Europe is also an important market due to growing health concerns and the increasing prevalence of obesity.

Competition in the marketplace:

The global athletic footwear ecosystem is led by a few prominent players. They collectively share more than 80% of the market revenue. Key players have adopted the strategies of increasing their number of retails outlets, expanding their customer base and establishing strong distribution channels. Brands dominate the market based on the region. For instance, customers in Europe are inclined towards Puma and Asics, and New Balance has a strong market presence in North America.

Competitive advantage in the athletic footwear market is based on the R&D activities carried out by major players. Gaining profitability while surviving the competition is dependent of factors such as strong brand equity building, the strength of capital resources, and efficient management of the network.

In order to expand global customer reach and improve market presence, companies are expected to get involved in mergers and acquisitions in the following years.

Impact of Covid-19 on the Global Athletic Footwear Market:
Covid-19 led to the unprecedented disruption of the supply chain. The footwear industry is likely to experience inconsistent growth in the years to follow. Due to the unprecedented disruption of the supply chain, significant export markets have collapsed leading to the global decline in the footwear market. Online platforms and E-commerce channels are popularizing over the pandemic and therefore, the athletic industry is expected to recover in the forecast period. The footwear market will witness sustainable growth owing to the rising fashion trends. The athletic footwear market is expected to a significant growth owing to growing health concerns among individuals especially due to the pandemic.

Major Key Players in Athletic Footwear Market:

Nike
Adidas
New Balance
Vans
Under Armour
Lotto
Sketchers
Woodland
Puma
Reebok
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