The Athletic Footwear industry is forecasted to reach a value of 171.20 billion USD in 2024 by registering a CAGR of 7.15%.
- The global athletic footwear market is affected by various changing trends in various regions.
- The athletic footwear market is also affected by the innovations made by the market players in the product development, for instance smart footwear that calculates the calories burnt.
- The increasing awareness towards the importance of fitness and the increasing involvement of countries in sports and games are also driving the market.
- North America is the highest revenue generating region in the market followed by Europe. Stronger distribution channels is also a factor that drives the growth of the market.
Scope of the Report
The Athletic Footwear industry is segmented by Product type into Running Shoes, Aerobic/Gym Wear Shoes, Sports Shoes, Trekking/Hiking Shoes and Other Product Types. The other types include typical sneakers, cycling shoes etc. By Distribution Channel the market is fragmented into Shoe Stores, Sports and Athletic Goods Stores, Supermarket/Hypermarket, E-commerce and Other Distribution Channels, which include Warehouse Clubs, Flagship Stores. By End User the markert is fragmented into Men, Women and Children.
Key Market Trends
Increasing Participation In Sport And Growing Trend Towards Healthy Lifestyles
The growing trend towards athleisure are increasing the demand for designer shoes with sports design and the shift towards more healthier lifestyles are increasing the market for running and cycling shoes. The increasing government initiatives for the involvement in sports activities are also driving the market. For instance, the government of Australia is planning to invest millions in sport and physical activity initiatives over the coming years. The increasing unhealthy population is also a major factor affecting the market. The strong distribution channels are also helping the market in increasing availability and gaining more revenues. The increase in number of the women participating in sports and fitness activities are boosting the market.
Middle East And Africa Is The Fastest Growing Market
Middle East and Africa is the fastest growing region in the global athletic footwear market. The increasing concerns towards health and fitness among the population is the major driver in the market. South Africa is the leader in the market holding more than 15% of the market, followed by Saudi Arabia. The customers in middle east are ready to pay premium prices for goods, the factor they look for is quality and durability. Manufacturers are also focusing on quality and cost effective production and efficient distribution of goods. Middle East has a greater potential for athletic footwears and players are penetrating into the region with various products and different distribution channels.Athletic CO. is one of the popular companies operating in the Middle Eastern countries.
The Global Athletic Footwear market is a highly fragmented with the presence of various regional and global players. Companies compete on different factors, including product offerings, price, material quality, and marketing activities, in order to gain competitive advantage in the market. Adidas Group, Nike, and ASICS Corporation are the major players of the market.
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