Athletic Footwear Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Athletic Footwear Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Athletic Footwear Market size is estimated at USD 173.89 billion in 2024, and is expected to reach USD 242.33 billion by 2029, growing at a CAGR of 6.86% during the forecast period (2024-2029).

The market has a strong culture of sports and fitness, driving the demand for athletic footwear. As more people engage in various sports activities, there is a continuous demand for performance-oriented athletic shoes that offer comfort, support, and durability. For instance, according to the Sports and Fitness Industry Association (SFIA), the share of the population participating in outdoor sports in the United States increased from 50.7% in 2019 to 55% in 2022. As major players introduce their products globally, shifting fashion trends significantly shape the athletic footwear market. Technological advancements play a pivotal role in fueling consumer interest in footwear. This interest is further accentuated by evolving design, color, and style trends directly impacting consumer buying choices. Consumers frequently seek shoes that mirror the latest fashion inclinations. Major players are focused on innovative product launches, expansions, and partnerships to get established and gain a loyal consumer base in the market. For instance, in March 2024, Nike launched the Air Max Dn—a shoe designed to create a more dynamic heel-to-toe transition. The shoe is the first of the classic footwear collection to incorporate Dynamic Air, which allows for a smooth sensation with each step.

Athletic Footwear Market Trends

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.

Athletic Footwear Industry Overview

The athletic footwear market is competitive, with the presence of various regional and global players. Firms compete on multiple variables such as product offerings, price, material quality, and marketing efforts to achieve a competitive advantage in the market. Companies utilize digital and social media marketing to notify people about new product launches. The e-commerce channel has been growing majorly over recent years, and it is one of the preferred channels for the major players operating in the market. Adidas AG, Nike Inc., New Balance Athletics Inc., Under Armour, Inc., and Puma SE are some of the major players operating in the market studied.

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