Market Overview

The increasing popularity of sports activities such as soccer, rugby and cricket, along with increasing per capita disposable incomes, are the main drivers of the growth of the worldwide Cleats Industry. The high cost associated with cleats, however is set to curb the growth of the worldwide cleats industry. It is expected that the Global Cleats Industry will record significant growth during the forecast period. In addition to increasing participants, the increasing popularity of sports such as soccer, American football, and rugby is expected to boost the global market for cleats. In the coming years, the advent of T20 leagues around the world is further anticipated to create lucrative growth opportunities for the popularity of cricket.

Competitive Landscape:

The eminent players in the Global Cleats Industry include NIKE, Inc. (US), Puma SE (Germany), Adidas AG (Germany), Under Armour, Inc. (US), Fila Holdings Corp. (South Korea), Iconix Brand Group, Inc. (US), New Balance (US), Li Ning Sports Goods Co., Ltd. (China), ASICS (Japan), and Mizuno Corporation (Japan).

Players operating in the global market for cleats are focusing on expanding their geographical footprint and launching innovative products.

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Segmentation:

The market has been split into firm/natural grass, soft/muddy grass, artificial grass, multi-ground, and artificial turf by Ground Type. Firm/natural grass dominated the market in 2019 with a market share of 38.58%.

The market is segmented into soccer, rugby, American football, cricket, and others according to the type of sport. Due to the dominance of participants compared to other sports worldwide, soccer sports dominated the Cleats Industry in 2019 with a market share of 63.52 percent in 2019.

The global market for cleats is segmented into store-based and non-store-based channels, depending on the distribution channel. In supermarkets & hypermarkets, specialty stores, and others the store-based channel is further bifurcated. Store-based channels dominate worldwide sales of cleats. The availability through supermarkets & hypermarkets and specialty stores of different retail outlets for the sale of cleats has resulted in the dominance of store-based channels. Anticicici are store-based channels.

Regional Analysis:

The global market for cleats has been categorised geographically as North America, Europe, Asia-Pacific, and the rest of the world.

Europe dominated the market, accounting for the largest share in 2019, as per MRFR analysis. Within Europe, the UK, Germany and Spain are expected to dominate the market for cleats during the period under review.

In 2019, the North America Cleats Industry accounted for the second largest market share, with the main market for cleats being the US.

During the forecast period, however, Asia-Pacific is projected to register the highest CAGR of 4.94 percent. During the forecast period, the increasing popularity of sports such as soccer, cricket, and many more, increasing disposable income along with the growth of the organised retail industry is expected to boost the Cleats Industry in the Asia-Pacific region. The growing middle-class population in emerging economies in Asia-Pacific is increasing customer expectations, resulting in the resetting of customer expectations in the region.

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