Sports Footwear Market
Growth Factors of Sports Footwear Market
The sports footwear market size was valued at USD 106.05 billion in 2023, and the market is now projected to grow from USD 110.91 billion in 2024 to USD 168.92 billion by 2032, exhibiting a CAGR of 5.4% during the forecast period of 2024-2032.
Prior to the pandemic, local governments across the globe temporarily banned non-essential mass gatherings in a bid to curb the spread of the coronavirus hence the subsequent postponement/cancellation of major sporting events such as Olympics and FIFA. SMEs in the sectors such as sports academies, clubs, and educational institutions also closed severely affecting the growth of the sports footwear market as sports were limited and less demanded.
There is minimization of the overall diseases due to lack of exercise and fitness consciousness coupled with an increase in the number of people experiencing chronic diseases that require Sports footwear and this is majorly seen in urban centers across the globe. The increased activity of construction and number of gyms and sports facilities in emerging countries additionally fuels this request also. Based on the record of International Health & Fitness Association 2019 Report, there has been an addition of 183 million in the membership of the fitness clubs signifying the increased trend on fitness and sports.
The use of environment friendly materials in production of the sports shoes is now quite popular and this factor allows the market to grow rapidly. Increasing environmental consciousness is the main reason that has seen the consumer demand for sustainable products rise. The global manufacturers are therefore responding to the challenge posed by governments by developing environmentally sustainable designs. For instance, in April 2019, Adidas started the 100% recyclable running shoes that proved the change that the industry has taken towards the sustainability.
Comprehensive Analysis of Sports Footwear Market
The sports footwear market growth is also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by gender analysis, by end-user analysis and by distribution channel analysis. By gender analysis men, women, and kids. By end-user analysis incudes professional user, recreational user. by distribution channel analysis incudes retail stores, such as supermarkets, brand outlets, and discount stores.
The North America region lead the sports footwear market share by benefitting a market size of USD 44.41 billion in 2023 due to large number of people participating in outdoor sports and adventurous activities.
Top players in the market have their responsibility of consumer goods industrial prospectus growth of the retailing industry and the markets. These players include, Nike Inc., Adidas Group, MIZUNO Corporation, Puma SE, Under Armour, Inc., Skechers, USA Inc., Fila Holdings Corp, Converse, Diadora S.p.A., ASICS Corp. these market players provide a level-playing competitive landscape.
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Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.4% over 2024 to 2032
Unit Value (USD Billion)
Segmentation By Gender
- Men
- Women
- Kids
By End-User
- Professional User
- Recreational User
By Distribution Channel
- Online
- Offline
By Region
- North America (By Gender, End-User, Distribution Channel, and by Country)
- U.S. (By Gender)
- Canada (By Gender)
- Mexico (By Gender)
- Europe (By Gender, End-User, Distribution Channel, and by Country)
- Germany (By Gender)
- France (By Gender)
- Italy (By Gender)
- Spain (By Gender)
- The U.K. (By Gender)
- Rest of Europe (By Gender)
- Asia Pacific (By Gender, End-User, Distribution Channel, and by Country)
- China (By Gender)
- India (By Gender)
- Japan (By Gender)
- Australia (By Gender)
- Rest of Asia Pacific (By Gender)
- South America (By Gender, End-User, Distribution Channel, and by Country)
- Brazil (By Gender)
- Argentina (By Gender)
- Rest of South America (By Gender)
- The Middle East and Africa (By Gender, End-User, Distribution Channel, and by Country)
- South Africa (By Gender)
- UAE (By Gender)
- Rest of the Middle East and Africa (By Gender)
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