Global Athletic Footwear Market Outlook, 2028

Global Athletic Footwear Market Outlook, 2028

Athletic footwear is a generic name for shoes designed for sporting activities. The growing number of sports tournaments is expected to drive the athletic footwear market forward. Sports tournaments are competitions in which large groups of players compete in a specific format to determine the overall winner. Individuals are increasingly taking part in local or regional tournaments to showcase their abilities and represent their country on a global scale. To ensure a safe and competitive tournament, sports professionals and enthusiasts participating in various sports tournaments are required to wear athletic footwear. Furthermore, in line with the athleisure trend, consumers increasingly prefer designer athletic shoes that incorporate elements of sports design. Furthermore, technological advancements, the development of new and innovative shoes, and increased awareness about the importance of wearing the proper shoes to prevent muscle and leg injuries are driving the growth of athletic shoes. Emerging fashion trends of wearing branded athletic footwear, particularly among young people, influence market growth. However, rising raw material prices and the increasing prevalence of counterfeit and brand-copied athletic footwear products may limit market growth.

According to the research report, “Global Athletic Footwear Market Outlook, 2028”, published by Bonafide research the market is anticipated to reach USD 179.19 Billion by 2028 with a significant CAGR of 5.04% from USD 134.16 Billion in 2022. The participation in sports and outdoor activities has increased over the years, which has resulted in the demand for athletic footwear that is specific to different sports and activities. Furthermore, Major sports events such as the Olympics and World Cup, as well as sponsorships by athletic footwear brands of sports teams and athletes, increase brand awareness and drive sales. Moreover, Athletic footwear has become a necessity for people who participate in sports and fitness activities as they have grown in popularity. Athletic footwear is essential in supporting and protecting the feet during physical activity, from running to weightlifting to team sports. Moreover, Subscription services provide customers with regular deliveries of athletic footwear products, which can increase customer loyalty and convenience. Companies that offer customized subscription services based on customer preferences and activity level can attract more customers and increase sales. In addition, 3D printing technology provides an opportunity for companies to create customized athletic footwear products that meet a customer's specific needs and preferences. This can include factors such as foot shape, gait, and activity level. 3D printing can also help companies reduce waste and improve supply chain efficiency.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are the regions into which the global market for Athletic Footwear is divided. Asia Pacific is the largest market for athletic footwear in the world, with China and India being the biggest consumers. The Asia Pacific Athletic Footwear market is expected to grow at more than 4.5% CAGR from 2023 to 2028. The rise of social media influencers has undoubtedly played a significant role in shaping consumer behavior in the Asia-Pacific athletic footwear market. With the increasing popularity of social media platforms like Instagram, Facebook, and YouTube, many consumers in the region are turning to influencers and celebrities for inspiration and guidance on what to buy. Some of the most successful brands in leveraging celebrity endorsements and sponsorships in the Asia Pacific region include Nike, The American sportswear giant has partnered with several high-profile athletes and celebrities in the Asia-Pacific region, including Chinese basketball player Yao Ming and Indian cricket star Virat Kohli. In North America, the market is categorized into three major countries, including the United States, Canada, and Mexico. Among them, the United States is expected to dominate the market by the next time period. Demand for athletic footwear in the United States is being driven by an increase in interest in health and fitness activities.

Based on product type, the market is bifurcated into running shoes, training and walking shoes, sports shoes, aerobic and gym wear shoes, trekking and hiking shoes, and others (cross-training shoes, walking shoes, dance shoes, etc.). In 2022, the segment that had the biggest share was running, training, and walking shoes, with 56.82 percent. Running, training, and walking are popular activities across the world, with many people engaging in these activities for fitness and health. As a result, the demand for footwear designed specifically for these activities is high. Furthermore, these are the most popular type of running shoe, designed for runners with a neutral foot strike who do not overpronate or underpronate. Moreover, these are versatile shoes that can be used for a variety of activities, including weightlifting, HIIT, and agility training. Furthermore, these shoes are designed for walking and provide extra cushioning and support to help reduce the risk of foot fatigue and injury. Sports shoes are expected to have the highest CAGR during the forecast period due to an increase in the popularity of sports and fitness activities globally, particularly among younger generations.

The market can be divided into tennis shoes, soccer shoes, basketball shoes, cricket shoes, and others. Soccer shoes were the market leader in 2022, accounting for more than 58% of all sales. Soccer is the most popular sport in the world, with millions of fans and players across the globe. As a result, the demand for soccer shoes is high. Professional soccer players have a huge influence on the athletic footwear market, with many fans and players looking to wear the same shoes as their favourite players. This has created a huge demand for high-performance soccer shoes. There are many popular soccer tournaments held around the world that have a significant influence on soccer shoes. The FIFA World Cup is held every four years and is the biggest soccer tournament in the world, with billions of viewers watching the matches. The tournament brings together the best teams from around the world, and the players' performances often influence the choice of soccer shoes worn by consumers. Furthermore, the UEFA Champions League is an annual tournament organized by the Union of European Football Associations (UEFA), featuring the best club teams from Europe. The tournament is watched by millions of fans worldwide, and the performances of star players often lead to increased sales of their soccer shoes. In addition, the English Premier League is one of the most popular soccer leagues in the world, with a huge global following. Many top soccer shoe brands sponsor teams and players in the league, and the performances of players often influence consumer preferences. Basketball shoes are projected to have the highest CAGR during the forecast period due to the surge in the number of people participating in basketball, especially in Asia-Pacific and North America. As a result, there has been an increase in demand for basketball shoes from amateur and professional players alike.

Based on the report, the market distribution channel was segmented into hypermarkets and supermarkets, specialty stores, brand outlets, online channels, and others. Among them, hypermarkets and supermarkets have the largest market share in the global athletic footwear market. Hypermarkets and supermarkets are popular among consumers because they offer a one-stop shopping experience for all their needs, including athletic footwear. Consumers can easily browse through a wide range of athletic footwear brands and products in one place and compare prices and features. Some of the popular hypermarkets and supermarkets in the global marketplace where athletic footwear is sold include Walmart, Target, Tesco, Carrefour, Auchan, Aldi, Lidl, Kroger, Costco, Metro AG, Sainsbury's, Asda, Morrisons, Woolworths, Coles, and many more. Online distribution had the highest CAGR during the forecast period in the global athletic footwear market due to the increasing trend of online shopping and the convenience it offers. Some of the popular online channels where athletic footwear is sold in the global marketplace are Amazon, Nike, Adidas, Zappos, Foot Locker, JD Sports, Finish Line, Eastbay, ASOS, DSW, Under Armour, Puma, Reebok, New Balance, StockX, and many more.

Based on the end-user, men will emerge as the largest end-user segment in 2022. Globally, men are often encouraged to be physically active and engage in sports from a young age. This cultural norm drives demand for athletic footwear among men. Furthermore, many women are becoming more health-conscious and are prioritising regular exercise as part of their daily routine. This has led to increased demand for athletic footwear that is comfortable, supportive, and suitable for various types of workouts. In addition, with the rise in childhood obesity rates and the growing awareness of the importance of physical activity, parents are encouraging their children to participate in sports and outdoor activities. This has led to an increase in demand for athletic footwear for kids.

The regulatory norms governing the global athletic footwear market vary depending on the country or region. For instance, some of the regulatory bodies and standards that may apply The Consumer Product Safety Commission (CPSC) is a U.S. government agency that regulates the safety of consumer products, including athletic footwear. The agency sets standards for product safety, such as limits on lead content and flammability. Furthermore, the European Union (EU) has specific regulations for footwear that are designed to protect the health and safety of consumers. These regulations cover areas such as material quality, labelling requirements, and product safety. Moreover, the International Organization for Standardizations (ISO) has developed a series of standards for the testing and evaluation of footwear, including athletic footwear. These standards cover areas such as abrasion resistance, slip resistance, and impact resistance. In addition, many countries have their own regulatory bodies and standards that govern the production and sale of athletic footwear. For example, in China, the State Administration for Market Regulation (SAMR) sets standards for footwear quality, labelling, and safety.

Celebrity endorsements and sponsorships can have a significant impact on the global athletic footwear market by increasing brand visibility, generating buzz and excitement around new products, and creating a sense of aspiration and exclusivity for consumers. Furthermore, many brands in the athletic footwear market have successfully leveraged celebrity endorsements and sponsorships to boost sales and increase brand awareness. For instance, Nike has been particularly successful in this area, with endorsement deals with high-profile athletes such as Michael Jordan, LeBron James, and Serena Williams. Adidas has also leveraged celebrity endorsements with athletes such as Lionel Messi and James Harden, as well as collaborations with musicians such as Kanye West and Pharrell Williams. Moreover, Under Armour has used sponsorships with athletes such as Stephen Curry and Jordan Spieth to grow its brand presence, while Puma has worked with athletes such as Usain Bolt and Rihanna to build its brand identity.

Covid-Impact
The COVID-19 pandemic has had a negative impact on several industries, including the athletic footwear market worldwide. Manufacturing hubs all over the world were suffering greatly as a result. The first is a halt in operations as a result of the epidemic. There is also an increase in order cancellations from international customers who are unable to sell or store products. Furthermore, brands such as Adidas, Nike, and Puma reported a decrease in consumer demand for athletic footwear as consumers reduced or delayed discretionary spending in response to the effects of COVID-19.

Developments:
• In 2021, Nike launched its new ""Go FlyEase"" hands-free shoe, designed to be put on and taken off without using your hands. The shoe utilizes a unique tension band system and a flexible sole to allow for easy on and off. Nike has also announced its ""Move to Zero"" initiative, which aims to reduce waste and carbon emissions.
• In 2021, Adidas announced its new ""Futurecraft.Footprint"" running shoe, which has a significantly reduced carbon footprint compared to traditional running shoes. The shoe is made using a new manufacturing process that eliminates waste and reduces energy consumption. Adidas has also pledged to use only recycled polyester in its products by 2024.
• In 2021, Under Armour launched its new ""Flow Velociti Wind"" running shoe, which features a lightweight design and responsive cushioning. The shoe is made using sustainable materials and is part of Under Armour's commitment to reduce its environmental impact.
• In 2021, Puma announced collaboration with Nintendo to launch a new collection of athletic footwear inspired by the iconic video game character Mario. The collection includes designs for both adults and children, and features classic Mario motifs such as mushrooms and stars.
• In 2021, New Balance launched its new ""Fresh Foam More Trail v1"" running shoe, designed for off-road running. The shoe features a durable, water-resistant upper and a cushioned sole for comfort on rough terrain. New Balance has also emphasized its commitment to sustainability, using recycled materials in many of its products.

Companies Mentioned in this Report:
Asics Corporation, Nike, Inc, Addidas , Under Armour, Inc., Puma , New Balance, Skechers Inc., Fila Holding Corporation, Brooks Sports, Inc., Amer Sports, Wolverine World Wide, Inc., Mizuno corporation, La Sportiva S.p.A., VF Corporation, Bata Corporation, Li Ning Company, Lotto Sport Italia S.p.A. , Columbia Sportswear Company, Cofra S.r.l., Ewing Athletic

Considered in this report
• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Global Athletic Footwear market with its value and forecast along with its segments
• Region-wise Athletic Footwear market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report:
• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• SA (Brazil, Argentina, Colombia)
• MEA (UAE, Saudi Arabia, South Africa)

By Product Type:
• Running Shoes, Training and Walking Shoes
• Sports Shoes
• Aerobic and gym wear shoes
• Trekking & Hiking Shoes
• Others (cross-training shoes, walking shoes, dance shoes, etc.)

By Sports Type:
• Tennis Shoes
• Soccer Shoes
• Basketball Shoes
• Cricket Shoes
• Others

By End User:
• Men
• Women
• Kids

By Distribution Channel
• Hypermarkets/Supermarkets
• Specialty Stores
• Brand Outlets
• Online Channels
• Others (General retail, B2B, etc.)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Athletic Footwear industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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