North America Athletic Footwear Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America Athletic Footwear Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America Athletic Footwear market is projected to register a CAGR of 3.45% during the forecast period, 2022-2027.

The rising health and wellness awareness among consumers is one of the key influential factors driving the sales growth of athletic footwear in North America. Consumers across the region have been prioritizing their physical fitness and mental health by indulging themselves in various sports and fitness activities. Moreover, the increasing number of participants in sports tournaments such as American football, soccer, running, basketball, baseball, etc., and the growing number of women participating in fitness and sports activities, are boosting the sales of athletic footwear. Moreover, to target women end-users, companies are introducing products with differentiation in terms of design & color, comfort level, size, etc., to gain a competitive advantage.

In the medium term, online retailing is anticipated to push sales growth, as millennials are preferring e-commerce platforms to purchase personal accessories and fashion goods. As a result, key brands are adopting omnichannel distribution strategies to target a wider customer base. For instance, in March 2022, ABG (Authentic Brands Group) announced a strategic partnership with SportChek, a Canada-based multichannel retailer, to distribute Reebok branded products including sports apparel and footwear in the country. Through this partnership, the retailer will make available Reebok's products at 300 of its corporate-owned stores, and complementary e-commerce websites.

Key Market TrendsGrowing Fitness Conscious Consumers

The athletic footwear market is booming, owing to the increasing number of health and fitness-conscious consumers coupled with the growing popularity of outdoor activities, and increased emphasis on promoting sports, athletics, adventure-based activities, and other related scenarios. For example, Football is considered the most popular game in Mexico and people are highly passionate about playing the game. Surveys say that more than 50% of Mexicans play football. This in turn is expected to increase the sales of athletic footwear.

The increase in the adoption of sports and fitness activities, as they help in maintaining good health and reduce the risk of chronic disorders such as depression, cardiovascular diseases, and diabetes accelerates the athletic footwear market growth in the region. This has also resulted in a willingness to pay extra for several performance characteristics in athletic shoes, such as waterproof quality, moisture management, temperature control, and friction regulation.

Increased Female Sports Participation Rate

Women's interest in sports has been growing rapidly over the past few years. The gap between men and women in sports has narrowed significantly over the last few years across the region. Further, younger generation girls are increasingly preferring fitness programs such as strength training, Zumba, aerobics, and yoga to improve their physical well-being, which in turn influences the demand for athletic footwear.

Girls' participation in sports tends to be higher in the United States than in other parts of the world like Western Europe and Latin America. Women are buying athletic shoes for comfort, whether they are running or participating in other sports such as tennis, basketball, or badminton, fuelling the expansion of the women's athletic shoe market. Furthermore, the government conducts various initiatives to encourage more women to get more active, more often by promoting participation in physical activities. For example, The Government of Canada is committed to building and maintaining an inclusive Canadian sport system and providing opportunities for women and girls in all aspects of the sport, including coaching.

Competitive Landscape

The market is highly competitive with the presence of key players such as Adidas AG, Skechers USA, Inc, Puma SE, New Balance Athletics, Inc, and Nike Inc. Moreover, these major companies are investing in research and development and introducing smart footwear to maintain their positions in the market through new product innovations. For example, Altra Torin IQ Smart Shoes contain all the necessary sensors to calculate capture distance, pace, cadence, running style, and much more. Additionally, key players are focused on online marketing and branding through social media platforms and e-commerce channels to attract more customers.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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