New York, NY, Feb. 04, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Athletic Footwear Market By Type (Sports Shoes, Running And Walking Shoes, Hiking And Backpacking Shoes, And Aerobic And Gym Wear Shoes), By End-User (Men, Women, and Kids): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” .
“According to the research study, the global Athletic Footwear Market was estimated at USD 98,000 Million in 2019 and is expected to reach USD 120,000 Million by 2026. The global Athletic Footwear Market is expected to grow at a compound annual growth rate (CAGR) of 3.5% from 2019 to 2026”.
Athletic footwear also referred to as athletic shoes are mainly designed for sports and other outdoor and physical activities. The athletic shoes are utilized for running in a marathon, basketball, football, tennis, and rugby. However, the global consumption pattern of athletic shoes indicates a trend of these being used as casual footwear by people of all age groups. Considerable developments in the new material have made the material selection process more complicated and time-consuming for shoe designers. The parameters largely considered while material selection includes fabric performance, durability, aesthetic appearance, price, and availability at the manufacturing facility.
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Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 190+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Athletic Footwear Market?
2) What is the market size, share of the Athletic Footwear Market?
3) Who are the top market players in Athletic Footwear Market?
4) What will be the future market of Athletic Footwear Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Frequently new product launches, sales through online marketing channels, and an investment in research for innovative product development are the strategies adopted by companies, which have enhanced the growth of the athletic footwear market. The market is extremely competitive with the major companies making large investments in distribution and marketing channels, and brand building. As the market is growing rapidly, numerous small-scale manufacturers are tending to invest in business expansion and hence offer tough competition to the major athletic footwear companies.
Top Market Players
Prominent companies studied in research reports include Asics Corporation, Nike, Inc., Adidas AG, Puma SE, New Balance, Inc., Skechers Inc., Under Armor, and other regional industry participants. New product launches, online sale discounts, and premium branding are the key business strategies used by global industry participants.
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By shoe product type, the market for athletic shoes is segmented into backpacking and hiking shoes, sports shoes, gym wear shoes, running shoes, walking shoes, and aerobic shoes. The Sports shoe segment is projected to dominate the global athletic footwear market with a 41.00% revenue share by 2025. The growing health-conscious population coupled with high interest in athletic sports is driving the demand for sports shoes. Additionally, the manufacturers are evolving their product design and development around virtual reality and artificial intelligence. Therefore, the application of artificial intelligence in product design and production can be viewed as a major industry trend.
By key end-users, the athletic shoe market is segmented as men’s shoes, women’s shoes, and kid shoes. The men’s shoe segment accounted for a major revenue share in 2019 and the women’s shoe segment is expected to record a market growth at the highest CAGR of 2.7% during 2019-2026. Lightweight shoes with vibrant designs are more popular among children.
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The report study further includes an in-depth analysis of industry players’ market shares and provides an overview of leading players’ market position in the Athletic Footwear sector. Key strategic developments in the Athletic Footwear market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the Athletic Footwear market are appropriately highlighted in the report.
Demand for exclusive designs and the increasing popularity of athletics among the millennium population is expected to drive the market demand worldwide. Consumers are increasingly spending on branded athletic shoes as they view it as a good investment. Major shoe companies are investing their resources in designing technologically advanced, highly luxurious, and celebrity-backed products. Athletic shoes with comfortable fabric, stylish design, and durable colors are more popular among potential consumers.
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The industry is witnessing a major shift towards online product distribution through company-owned as well as third party e-commerce platforms. For instance, the recent stats reveal that 25% of shoes sold in the U.S. came from various online retailers. Additionally, celebrity collaboration for the marketing and promotion of shoe brands is the key trend in the industry. From the very beginning, the shoe business is traditionally dependent upon athletes for promotion and consumer awareness.
By type, the global athletic footwear industry is categorized as sports shoes, running and walking shoes, hiking and backpacking shoes, and aerobic and gym wear shoes. By the end-user, the global athletic footwear industry is categorized as men, women, and kids.
Primary regional segments identified in the research study include Europe, Latin America, Asia Pacific, North America, and Middle East & Africa. Asia Pacific segment represents the major market share in terms of revenue and is also estimated to register the highest CAGR of 3.5% during the market forecast. Growing population, increasing penetration of international brands, and emerging local market players are contributing to the market growth in the region. High standard lifestyles and health-conscious populations across the developed countries are inclined towards comfortable athletic shoes and are ready to offer high prices for premium products.
Browse the full “Athletic Footwear Market By Type (Sports Shoes, Running And Walking Shoes, Hiking And Backpacking Shoes, And Aerobic And Gym Wear Shoes), By End-User (Men, Women, and Kids): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026″ report at https://www.fnfresearch.com/athletic-footwear-market-by-type-sports-shoes-running-822
This report segments the Athletic Footwear market as follows:
Global Athletic Footwear Market: By Type Segmentation Analysis
- Sports shoes
- Running and walking shoes
- Hiking and backpacking shoes
- Aerobic and gym wear shoes
Global Athletic Footwear Market: By End-User Segmentation Analysis
Key Insights from Primary Research
- As per the finding through primary interviews with industry experts, the market for athletic footwear is driven by improving lifestyles and a growing number of brands in the marketplace
- Online purchasing is very popular among the millennium population
- The majority of the primary respondents rates promotional discounts as the key factor for large product sale through the online channel
- A diverse product portfolio is used to target potential buyers
- Increasing sports events and sports clubs across developing regions are estimated as potential market opportunities in the near future
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