|Study Period:||2016 - 2026|
|Fastest Growing Market:||South America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The global athletic footwear market was valued at USD 99.61 billion in 2020, and it is projected to register a CAGR of 4.56% during the period, 2021-2026.
The COVID-19 pandemic has adversely affected several industries, including the athletic footwear market, across the globe. Business priorities have switched to liquidation strategies and inventory management while assessing post-pandemic consumer habit alterations, with consumption at a standstill and inventories piling up in warehouses.
Given the combined effect of outlet closures, and frugality resulting from the rapidly deteriorating economic situation, the discretionary character of footwear made it one of the most seriously hit businesses by the pandemic. Moreover, a decline in consumer demand for athletic footwear was noted by brands like Adidas, Nike, and Puma, among others, as consumers reduced or delayed discretionary spending in response to the impacts of COVID-19, owing to a rise in unemployment rates and diminished consumer confidence. Decreased retail traffic as a result of store closures, reduced operating hours, and social distancing restrictions could be noticed.
The increasing awareness about the importance of fitness and the increasing involvement of countries in sports and games are also driving the market. In terms of regional growth, North America is the highest revenue-generating region in the market, followed by Europe. Stronger distribution channels also drive the growth of the market.
The demand for athletic footwear has been bolstered by a growth in the number of specialty and franchised footwear stores and tie-ups between footwear brands and various retail chains.
Over the medium term, the athletic footwear market will be positively affected by various changing trends in various regions. Furthermore, the athletic footwear market will also be affected by the innovations made by market players in product development, for instance, smart footwear that calculates the calories burnt.
Scope of the Report
Athletic footwear is a generic name for shoes designed for sporting activities. The global athletic footwear industry is segmented by product type into running shoes, sports shoes, trekking/hiking shoes, and other product types. By end user, the market is segmented into men, women, and children. By distribution channel, the market is segmented into sports and athletic goods stores, supermarkets/hypermarkets, online retail stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD billion).
|By Product Type|
|Other Product Types|
|By End User|
|By Distribution Channel|
|Sports and Atheletic Goods Stores|
|Online Retail Stores|
|Other Distribution Channels|
Key Market Trends
Growing Sports Participation and Influence of Athleisure
In line with the athleisure trend, consumers are increasingly seeking designer athletic shoes that include elements of sports design. Additionally, the continued shift toward more active lifestyles drives the demand for running and cycling footwear across the world.
The importance of sports activities, foremost for health reasons, the increasing influence of celebrity endorsement, and international sports events are encouraging the involvement of consumers in sports activities.
The increasing number of sport and fitness activities, such as aerobics, swimming, running, and yoga, as well as the increase in the number of women participating in fitness and sports activities, are making elegant and comfortable sports footwear suitable for daily sports activities popular. This is supporting the growth in athletic footwear sales among consumers, especially women. Also, athleisure has become more pervasive, as it has influenced the athletic footwear choice among millennial parents
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South America the Fastest Growing Market for Athletic Footwear
Brazil has developed a significant sporting culture. Sports are not only widely played and popular among large segments of the population, but they are also diverse in nature. As a result, Brazil is one of the largest athletic footwear markets in the world, which is driving the sales of athletic footwear in South America.
Also, the rising health awareness, changing lifestyles, and increasing demand for comfortable footwear, coupled with the growing need for innovative footwear designs and expanding disposable income levels, have driven the consumer preference towards athletic footwear in recent years in South America.
The athletic footwear international companies and brands are significantly expanding in Brazil’s geography contributing to the athletic footwear market in the South Amercia, as Brazil offers exciting investment opportunities for the sports industry across all kinds of sports sectors. The company’s target audience is the high and middle income set population.
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The athletic footwear market is competitive with the presence of various regional and global players. Companies compete on different factors, including product offerings, price, material quality, and marketing activities, to gain a competitive advantage in the market.
Similarly, vendors are introducing athletic footwear specifically designed for and targeted at women and kids. On the other hand, certain players have been expanding their geographical presence by acquiring or merging with the manufacturers in foreign markets.
Companies are using digital and social media advertisements to make consumers aware of the new product launches in the market. The e-commerce channel has been growing majorly over the recent past, and it is one of the preferred channels for the major players operating in the market. Adidas AG, Nike Inc., and Puma SE are some of the major players operating in the market studied.
- In January 2021, Patta and New Balance joined together to collaborate on New Balance’s 991 sneakers. The new product would be known as the Patta x New Balance M991Pat, which will feature a dusty pink/light petrol colourway.
- In June 2021, Adidas launched a golf shoe called the “Solarthon” that is both lightweight and comfortable. Further, the brand aims to introduce Solarthon in limited-edition grey, blue and white colourways. The new shoe features Adidas’ Primeblue textile upper, a recycled yarn containing at least 50% Parley Ocean Plastic, to help the company’s “End Plastic Waste” initiative.
- In May 2021, Nike unveiled its latest creation- “ZoomX Invincible Run” running shoes, as an addition to its expanding portfolio of athletic footwear. The design for the new product has drawn inspiration from the brand’s previous release, “Nike React Infinity Run” shoes.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Running Shoes
5.1.2 Sports Shoes
5.1.3 Trekking/Hiking Shoes
5.1.4 Other Product Types
5.2 By End User
5.3 By Distribution Channel
5.3.1 Sports and Atheletic Goods Stores
5.3.3 Online Retail Stores
5.3.4 Other Distribution Channels
5.4.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 Rest of Asia-Pacific
5.4.4 South America
22.214.171.124 Rest of South America
5.4.5 Middle-East and Africa
126.96.36.199 United Arab Emirates
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Adidas AG
6.4.2 Nike Inc.
6.4.3 Under Armour Inc.
6.4.4 Puma SE
6.4.5 SKECHERS USA Inc.
6.4.6 Asics Corporation
6.4.7 Wolverine World Wide Inc.
6.4.8 VF Corporation
6.4.9 New Balance Athletics Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Athletic Footwear Market market is studied from 2016 - 2026.
What is the growth rate of Athletic Footwear Market?
The Athletic Footwear Market is growing at a CAGR of 4.56% over the next 5 years.
Which region has highest growth rate in Athletic Footwear Market?
South America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Athletic Footwear Market?
Asia-Pacific holds highest share in 2020.
Who are the key players in Athletic Footwear Market?
Puma SE, Adidas AG, Nike, Inc., Under Armour, Inc, Asics Corporation are the major companies operating in Athletic Footwear Market.