Sneaker Market By Product Type (Low-Top Sneakers, Mid-Top Sneakers, High-Top Sneakers), By End User (Men, Women, Kids), By Price Point (Luxury, Economic), By Category (Private Label, Branded), By Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Brand Outlets, E-commerce, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global sneaker market size was valued at $131.1 billion in 2021, and is projected to reach $215.6 billion by 2031, registering a CAGR of 5.26% from 2022 to 2031. The volume of global consumption shows a tendency of people of all ages wearing these as casual and fashionable footwear. To meet the demands and budgets of various customers, the market offers a range of footwear in a variety of colors, styles, and prices. In order to stand out and draw in more customers, firms on the fiercely competitive sneaker market invest heavily in marketing and brand development. The global sneaker oligopolies face fierce competition from several small companies, especially in developing countries.
The global sneaker market is analyzed on the basis of product type, end user, price point, category, distribution channel, and region. By product type, the market is divided into low-top sneakers, mid-top sneakers, and high-top sneakers. By end user, the market is divided into men, women, and kids. By price point, the market is divided into luxury and economic. By category, it is classified into private label and branded. By distribution channel, the market is divided into supermarket/hypermarket, specialty stores, brand outlets, e-commerce, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The impact of the COVID-19 outbreak was moderate on the growth of the global sneaker market. Rise in internet penetration and surge in e-commerce sales contributed toward the growth of the market. However, trade restrictions and lockdown resulted into halting of production and manufacturing units. Conversely, the recovery of the sneaker market is expected in near future.
One of the main drivers of high-end sneaker demand in developing nations is a large population coupled with increased disposable income. Other elements driving the general expansion of the sneaker market include an increase in online sales, novel product introductions, appealing marketing, and promotional tactics. The biggest obstacles facing market players are rising raw material prices and growing environmental concerns. The market is expected to present appealing business prospects, nonetheless, as a result of shifting customer lifestyles and rising online retailing penetration.
The key players operating in the sneaker market have adopted product launch, business expansion, and merger & acquisition as its key strategies to expand their market share, increase profitability, and remain competitive in the market. The major players operating in the global sneaker market are 361 Degrees International Limited, Adidas Group, ANTA Sports Products Limited, Asics Corporation, Crocs Retail, Llc, Ecco Sko A/S, New Balance Inc., Nike, Inc, Peak Sports, Puma SE, Skechers U.S.A., Inc., Under Armour, Inc., VF Corporation, Wolverine World Wide, Inc, Xtep International Holdings Limited.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the sneaker market analysis from 2021 to 2031 to identify the prevailing sneaker market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the sneaker market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global sneaker market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
Low-Top Sneakers
Mid-Top Sneakers
High-Top Sneakers
By End User
Men
Women
Kids
By Price Point
Luxury
Economic
By Category
Private Label
Branded
By Distribution Channel
Others
Supermarket/Hypermarket
Specialty Stores
Brand Outlets
E-commerce
By Region
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Italy
Spain
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Nike, Inc.
Adidas AG
Under Armour Inc.
Puma
Reebok
Hanesbrands Inc.
Champion
New Balance
Converse
Benetton Group S.r.l.
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