Market Trends of South America Athletic Footwear Industry
This section covers the major market trends shaping the South America Athletic Footwear Market according to our research experts:
Expanding Sports Sector with Strong Support from Governing Bodies
There are various sports event organizers, government authorities, and associations that are investing in sports facilities and tournaments to encourage participation. They are promoting all these sports at the international level and encouraging young players to participate. This, in turn, has increased the demand for athletic footwear across the region. Some of the governing bodies that uplift more consumers to get indulge in different types of sports are the Ministry of Sports (Brazil), Brazilian Football Confederation, Chilean Athletics Federation, Argentine Football Association, Brazilian Athletics Confederation, and Colombian Athletics Federation, among others.
Apart from this, various grassroots programs are being organized to improve sports infrastructure and facilities, which, in turn, increases the participation rate, especially among youth and females. For example, in 2021, The Ministry of Sports introduced a development plan for Brazil's sports program, setting goals and regulations that will be implemented across the board, reaching federal, state, and municipal governments, Olympic and Paralympic committees, and local sports clubs. Thus, such initiatives are accelerating the sales of athletic footwear in South America.
Prevalence of Diverse Sport Culture
Sports are not only widely played and popular among large segments of the population, but they are also diverse. For example, Football is the most popular sport in the region. Other than football, sports like volleyball, mixed martial arts, basketball, tennis, and motorsports, especially Formula One, enjoy high levels of popularity. As a result, Brazil is one of the largest athletic footwear markets in the world.
The rising health awareness, changing lifestyles, and increasing demand for comfortable footwear, coupled with the growing need for innovative footwear designs have driven the consumer preference for athletic footwear in recent years. Thus, it is expected that international brands will further expand their presence in the region as countries like Brazil offer exciting investment opportunities for athletic footwear. For instance, in April 2022, U.S. Polo Assn., the brand specializing in sport-inspired accessories, footwear, and apparel announced its expansion in Brazil through a partnership with Alpar do Brasil, a Brazilian retail operator.
