letic Footwear Market: Global Demand, Growth Analysis & Opportunity Outlook 2023“
The report titled “Athletic Footwear Market: Global Demand, Growth Analysis & Opportunity Outlook 2023” delivers detailed overview of the global athletic footwear market in terms of market segmentation by product, by distribution channel, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global athletic footwear market is segmented into product type such as insert, sports, hiking shoes, and backpacking shoes. Further, insert segment is further sub-segmented into aerobics shoes, atheleisure shoes, running shoes and walking shoes. Among these segments, running and walking shoes segments grabbed major shares of global athletic market in 2015. Growing awareness amongst the population regarding health and fitness is expected to drive the growth of these segments in upcoming years.
Global athletic footwear market is expected to register a CAGR of 2.3% over the forecast period. Moreover, the global athletic footwear market was valued at USD 75.2 Billion in 2015 and is expected to reach at notable revenue of USD 115.6 Billion by the end of 2023. Furthermore, rising disposable income of the consumers and increased spending on clothing and accessories are expected to bolster the growth of global athletic footwear market in future.
The online stores segment by distribution channel is likely to grow at remarkable pace during the forecast period. Growing e-business across the globe is a key reason which is augmenting the growth of these segments. Further, online shopping sites are implementing various strategies such as online fashion sale, discounts on footwear to get attention of population. Furthermore, availability of massive range of athletic footwear on e-shops is anticipated to drive the growth of global athletic footwear market during the forecast period
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Increasing Awareness Towards Fitness and Wellness
Growing athletic activities coupled with growing popularity of adventures sports is projected to expand the market size of athletic footwear in near future. Further, swelled inclination of young generation towards sports such as football, basketball and others coupled with adoption of a single sport by population on the back of growing fitness concerns are believed to be the key factors behind the rapid growth of global athletic footwear market.
Increasing Women Involvement in Sports
Swelling active sports participation rates across the globe especially growing participation of female population in sports is a key factor which is fueling the growth of globe athletic footwear market.
Although, slow adoption of technologically advanced athletic footwear, fluctuations in raw material cost and availability of low cost substitute are some of the factors that are likely to inhibit the growth of the athletic footwear market in the near future.
This report also provides the existing competitive scenario of some of the key players of the global athletic footwear market which includes company profiling of Adidas AG, Nike Inc., New Balance Athletics Inc., Puma, Converse, Vans, Wolverine Worldwide Inc., ASICS, Under Armour, Inc. and Fila, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
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On the whole, the report depicts detailed overview of the global athletic footwear market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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