Market Trends of Athletic Footwear Industry
Growing Sports Participation and Influence of Athleisure
Increased participation in recreational and outdoor activities around the globe acts as a prime catalyst for the athletic footwear market, which spans running, cycling, sports, trekking, and hiking shoes. For instance, according to the Outdoor Industry Association, outdoor recreation participation of consumers in the United States has significantly increased in 2022. The report states that about 80% of the participants have participated in various outdoor activities such as mountain camping, sports climbing, etc. Also, the report states that about 881,000 people in the United States have started trekking and hiking in 2022 alone. With a surge in the desire for adventure, consumers seek footwear optimized for specific activities and environments, adding to the market growth. This demand prompts manufacturers to innovate with materials, design, and functionalities catering to the style and functionality preferences of consumers seeking footwear suitable for various outdoor activities. For instance, in September 2023, Merrell, in collaboration with the Jeep brand, launched the "Merrell Moab 3 Mid x Jeep“hiking boot in three colorways, touting popular Jeep brand coat names: Sarge Green, Sting Grey, and Hydro Blue.
North America is the Largest Market
The United States is one of the key markets for athletic footwear, driven by its sophisticated retail landscape, a sports culture bolstered by aggressive advertising, and widespread celebrity endorsements. These factors collectively draw in a substantial consumer base. For instance, in January 2024, Baltimore-based band Turnstile collaborated with Converse, channeling their passion for skateboarding to a two-sneaker capsule featuring a Converse Chuck 70 and One Star Pro.
Canadians increasingly prioritize a healthy lifestyle and actively engage in sports and related activities. Simultaneously, there is a growing awareness that these pursuits not only promote good health but also mitigate risks of chronic conditions like depression, cardiovascular issues, and diabetes. In October 2023, a StatCan survey highlighted that 82% of respondents cited physical health and fitness as their primary motivation for engaging in sports.
In Mexico, the popularity of running and fitness activities is rising, with a growing number of individuals engaging in recreational running, jogging, and gym workouts. This surge in interest is fueling the demand for specialized footwear, such as running, cross-training, and athletic shoes, emphasizing comfort, support, and performance. Consumers, particularly those active in running and fitness, increasingly value features like lightweight and breathable materials, cushioning, and stability.
