According to a market report, published by Sheer Analytics and Insights, The global athletic footwear market was valued at $127.3 billion in 2021 and it is expected to reach $214.5 billion at a CAGR of 4.7% between 2022 and 2032. Athletic shoes are popular, especially among young people, and have been adapted for the casual market. Athletic shoes are made for excellent performance and are included in an athlete's gear along with apparel and other accessories. Sports-specific qualities of cushioning, flexibility, stability, traction, and durability are offered by athletic shoes. Impact force is reduced by cushioning. The demand for athletic shoes is also being boosted by technology improvements, the creation of new and inventive shoes, and growing awareness of how crucial it is to wear the proper footwear to avoid injuries to the legs, muscles, and other body parts. Hence, these factors are driving the market over the past few years. Additionally, Urbanization is a crucial aspect that influences the consumer lifestyle. It is anticipated that the market for sports footwear will grow in the upcoming years due to the changing consumer lifestyle.
Growing rates of lifestyle-related diseases like obesity and diabetes, increased participation in outdoor activities like cycling and running, growing awareness of physical fitness, increasing interest among young people in sports like cricket, football, tennis, and badminton, and rising demand for branded and high-performance sports shoes are just a few of the key factors influencing the growth of the global athletic footwear market. Moreover, to combat obesity exercises like yoga, gym, and jogging target urban dwellers. Kids want to live healthy lives, thus they frequently show interest in sports and other related events. Athletic footwear is in increased demand in these nations as a result of people's growing awareness of how sports and exercise may promote good health and reduce the risk of chronic diseases like depression and cardiovascular disease.
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Furthermore, this demand is anticipated to expand more in the future years as customers' perceptions of their health improve. E-commerce has also streamlined consumer purchasing by making it easier and more convenient. Online shopping is more popular in industrialized nations like the United States and Japan than it is in emerging nations like China and India. Shoes made to be worn while playing sports are generally referred to as athletic footwear. Sports shoes are generally made to be worn during physical activities like sports. Because they provide flexibility, stability or motion control, traction on the road, torsional stability, and other benefits, they are essential for athletes. Therefore, these rising factors are expected to create more growth opportunities for the athletic footwear market globally.
One significant trend gaining traction in the athletic footwear sector is the use of recycled materials in the production of shoes. To lower their carbon footprint and achieve their organization's unique sustainability aims, athletic footwear manufacturers are concentrating on employing recycled materials in shoes. Over the forecast period of 2022 to 2032, it is also expected that casual occasions, growing celebrity endorsement of high-end athletic shoes, rising number of international sporting events and competitions, including the FIFA World Cup, Olympic Games, and Super Bowl, recent advancements in athletic footwear designs and aesthetics, and other key factors will drive market growth.
On the other side, some factors are projected to restrain the growth of the market in the future. For instance, several drawbacks of running shoes are among the main things that are anticipated to slow the expansion of the athletic footwear industry's revenue. Even though the soles of running shoes are built of strong and resilient materials, they quickly wear out and must be replaced after a specific amount of time. As a result, ailments like plantar fasciitis and shin splints become more likely. Running shoes also have a shorter lifespan than other athletic shoe types since they don't offer enough support or cushioning for the feet and deteriorate more quickly on gravel or paved surfaces.
According to the study, key players dominating the global athletic footwear market are Adidas AG (Germany), Authentic Brands Group (U.S), Aldo Group (Canada), ASICS (Japan), BATA (Switzerland), Converse (U.S), Columbia Sportswear (U.S), Financiere Pinault SCA (France), FILA (South Korea), K-Swiss (U.S), Lotto Sports (Italy), Maus Freres (Switzerland), Nike (U.S), New Balance (U.S), Skechers (U.S), Under Armour (U.S), VF Corporation (U.S), Vans (U.S), Wolverine World Wide (U.S), Zara (Spain), among others.
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