The global athletic footwear market was valued at US$ 82.56 Billion in 2022 and is expected to expand at a CAGR of 4.8% during the forecast period, ranging from 2023 to 2033, reaching US$ 135.6 Billion. As of 2023, athletic footwear sales are forecast to be valued at US$ 85.21 Billion.
COVID-19 has had a significant impact on U.S. athletic footwear and activewear businesses. In terms of brands, Nike brand footwear sales declined in the high teens, Brand Jordan was down in the low teens, and Converse dropped by more than 30%. Adidas, Skechers, ASICS, and Vans declined in the teens, Under Armour was down about 25%, and Fila declined by nearly half.
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The readability score of the Athletic Footwear Market Demand report is good as it offers chapter-wise layout with each section divided into a smaller sections.
The report encompasses graphs and tables to show the entire assembling. Pictorial demonstration of the definite and estimated values of key segments is visually appealing to readers.
This Athletic Footwear market outlook report explicates on vital dynamics such as the drivers, restraints and opportunities for key players and competitive analysis of Athletic Footwear along with key stakeholders as well as emerging players associated with the manufacturing of product.
The athletic footwear market is competitive, with the presence of various regional and global players. To achieve a competitive advantage in the market, firms compete on a variety of variables such as product offerings, price, material quality, and marketing efforts. Companies are utilizing 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. Some of the key companies manufacturing athletic footwear are- ASICS Corporation, New Balance INC, Skechers, INC, VF Corporation, Deckers Outdoor Corporation, Wolverine World Wide, Inc., Amer Sports Corporation, NIKE, Inc., Adidas AG, and PUMA SE. Key developments in this industry are:
- In September 2022 Asics Corporation launched new shoes called Novablast 3. The shoes have a geometric Origami design with Asics technology and unique cushioning, which offers a bouncing running experience.
- In June 2021, Adidas launched a golf shoe, “Solarthon”, which is both lightweight and comfortable. Further, the brand aims to introduce Solarthon in limited-edition grey, blue, and white colorways. The new shoe features Adidas’ Primeblue textile upper, a recycled yarn containing at least 50% Parley Ocean Plastic, to help the company’s “End Plastic Waste” initiative.
- In May 2021, Nike unveiled its latest creation, the “ZoomX Invincible Run” running shoes, as an addition to its expanding portfolio of athletic footwear. The design for the new product has drawn inspiration from the brand’s previous release, “Nike React Infinity Run” shoes.
Key Segments Profiled in the Athletic Footwear Industry Survey:
· By Product Type
- Running Shoes
- Athleisure Shoes
- Gym/Aerobics Shoes
- Backpacking Shoes
- Trekking Boots
- Rugged Boots
- Specialty Boots
- Mountaineering Boots
· By Distribution Channel
- Departmental Stores
- Specialty Stores
- Online Retail
- Sport Stores
- Other Channels
· By Price
· By Demographics
- Athletic footwear by Region
- North America
- Latin America
- Middle East & Africa
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Questionnaire answered in the Market outlook Report of Athletic Footwear include:
- What is the key strategy deployed by large players to maximize Athletic Footwear Market growth?
- What are the main challenges faced by players in the Athletic Footwear market Demand?
- With the advent of technological advancement, how will the Athletic Footwear market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Athletic Footwear market size?
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