Industries Study Report

17 June 2019, The global sports footwear market is subject to witness a substantial growth due to the rising enthusiasm towards sporting events, increasing focus towards fitness activities, and growing penetration of retail e-commerce sector across the globe. Additionally, rising disposable income and health consciousness among young population in both developed and developing economies worldwide are anticipated to drive the growth of the athletic footwear sales market over the forecast period. Globally, the market is predicted to grow at a significant CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the sports footwear market.

Changing lifestyle patterns and increasing participation in sports related activities by young population are estimated to fuel market growth in upcoming years. Increasing awareness about health benefits associated with sports and fitness activities such as improved health and reduced the risk of chronic disorders are boosting market demand of sports footwear. Additionally, sports and fitness activities helps to limit depression, cardiovascular diseases, and diabetes. Such factors are leading to the soaring demand of sports and fitness activities.

Rising adoption of athletic footwear during sports activities in order to avert injuries to leg muscle, knee pain, hip pain, and back pain, is leading to substantial purchase of athletic footwear in North America and Asia Pacific’s market. Additionally, lowering cost of the athletic footwear in Asia-Pacific market is expected to augment market demand in near future. The recent development of innovative manufacturing technology that is increasingly adopted by industry players, has led to production of high performing and comfortable sports shoes.

For example, advent of a forged mesh technology, that allows development of a single layer shoe with a ribbed pattern on the upper portion with help of ARAMIS, which is a motion capture technology, has gained a lot of appreciation and demand from North America and European region. ARAMIS technology, developed by Adidas, Inc., helps to identify amount of the strain exerted on the foot.

These technologies are helping sports players by providing required level of comfort, adequate support and flexibility along the ankle to ensure free and faster foot movement. Athletic footwear sales market is divided into five brad categories such as aerobic shoes, running & walking shoes, trekking & hiking shoes, and sports shoes.

The sports shoes are considered as one of the fastest growing segment in the athletic footwear sales market with substantial revenue generation in the last couple of years. Increasing demand form sports such as soccer, baseball, basketball, American-football, hockey, tennis, cricket and badminton is expected to boost the growth of sports shoes market segment. Growing popularity of Soccer, basketball and tennis are expected to heighten market advancement in years to come.

Furthermore, introduction of technologies such as surround technology by W.L. Gore & Associates Incorporations with Salewa Corporations are anticipated expand market reach in upcoming years. Surround technology helps to laminates upper portion of shoe that is increasingly used during trekking & hiking exercises. This allows foot to be surrounded from all sides, thus expelling the sweat and heat out of the shoes by side ventilation. Men’s footwear market segment has witnessed significant growth in the last decade, is expected to advance in near future as well. While, women’s footwear market segment is expected to catch up gradually with men’s footwear market segment, as the popularity of sports continues to grow among general population.

The market is divided by region such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rising preference towards sports, fitness, and adventure activities, like aerobics, hiking, training, and trail running, and presence of prominent industry players in the region. Asia-Pacific region is predicted to hold major market share in the sports footwear market with massive growth in forecast period.

Countries such as India, China and Singapore are leading the Asia-Pacific market with rising enthusiasm for various sports events, increasing per capita income, growing penetration of e-commerce websites, and significant investment by leading industry players considering potential opportunities in the region. The key players in the sports footwear market are Adidas AG, ASICS Co., Fila Incorporations, Under Armour, Incorporations, Lotto Sport Italia S.p.A., New Balance Athletics Incorporations, Vans Co., Nike Incorporations, Puma SE, Reebok International, Saucony Co., Skechers Incorporations, and Woodland Worldwide.

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