PUBLISHER: SkyQuest | PRODUCT CODE: 1183351
PUBLISHER: SkyQuest | PRODUCT CODE: 1183351
Global Sports Footwear Market size was valued at USD 97.42 billion in 2021, and it is expected to reach a value of USD 134.99 billion by 2028, at a CAGR of 4.8% over the forecast period (2022 - 2028).
The primary trends fueling the market expansion are increasing consumer disposable income levels, a booming global retail e-commerce industry, and a growing passion and understanding of the health advantages of sports and fitness activities. In order to live a healthy lifestyle, young people are becoming more involved in sports and other related activities. At the same time, people are beginning to understand how sports and fitness activities can promote good health and lower the risk of chronic diseases like diabetes, heart disease, and depression. These factors will drive the demand for sports footwear in the global market.
Top-down and bottom-up approaches were used to estimate and validate the size of the global sports footwear market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The global sports footwear market has been segmented based on gender, distribution channel, and region. Based on gender, the market is segmented into men, women, and kids. Based on the distribution channel, the market is segmented into offline and online. Based on region, the sports footwear market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
People are becoming more and more aware of the significance of wearing the proper footwear when participating in sports in order to avoid back pain, knee discomfort, hip pain, and back injuries as well as muscle and leg injuries. As a result, throughout the upcoming years, it is anticipated that the demand for sports shoes will significantly increase. Due to its use in a variety of settings, athletic footwear items are experiencing a rapid increase in demand. Athletes and climbers are just two examples of the many consumers that utilize sports footwear. Additionally, there are clients that care about their fitness, gym users, and those who use them for light exercise routines. Numerous styles of sports footwear are manufactured using high-quality raw materials, including leather, foam, plastic, and cutting-edge chemical additives.
Restraint
The development of the athletic footwear sector is being constrained by growing environmental concerns. The government's and environmental organisations' proactive efforts to combat pollution serve as a market restraint. One of the biggest factors contributing to the pollution of the rivers and environment is industry. For instance, Puma and other sportswear companies like Nike and Adidas were referred to as "Dirty Laundry" in a report by the environmental organisation Greenpeace. The investigation claimed that Puma collaborated with Chinese suppliers who helped to pollute the Yangtze and Pearl rivers.
Market Trends
There has been a surge in the use of a number of cutting-edge technology in manufacturing processes, such as 3D printing methods to speed up production. The public's growing awareness for environmental preservation has also increased demand for environmentally friendly athletic footwear. As a result, manufacturers are regularly undertaking developmental transitions by using raw materials that are ecologically friendly in order to match the expectations of this present trend.