Athletic Footwear Market is Expected to Show a Significant Growth During the Forecast Period 2022 – 2030

Posted on 2023-02-01 by researchinsights in Consumer Services // 0 Comments

San Francisco, California , USA, Feb 01, 2023 — /EPR Network/ —

Athletic Footwear Industry Overview

The global athletic footwear market size was valued at USD 127.3 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030.

Growing enthusiasm and awareness regarding the health benefits of sports and fitness activities, the flourishing retail e-commerce sector worldwide, and rising levels of disposable income of consumers are estimated to be the key trends stoking the market growth. Youngsters are getting keen on adopting a healthy lifestyle and are hence participating actively in sports and other related activities. At the same time, people have started realizing that sports and fitness activities can help ensure good health and reduce the risk of chronic disorders such as depression, cardiovascular diseases, and diabetes.

Gather more insights about the market drivers, restrains and growth of the Global Athletic Footwear Market

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.

On looking at specific categories, those pertaining to spring sports were the hardest hit as most of these sports have been canceled or postponed – baseball, soccer, and golf shoe sales declined an average of 30%. Performance basketball and sports lifestyle each declined in the mid-teens. Running footwear sales also dropped in the mid-teens, and skate shoes (which were fast-growing before the pandemic) were also hard hit in the period. On the bright side, Brooks had a mid-single-digit increase and Puma improved in the low singles.

People are also increasingly realizing the importance of using the appropriate type of shoes for sports activities to prevent muscle injuries, leg injuries, knee pain, hip pain, and back pain. As a result, the demand for athletic shoes is expected to register a sharp rise over the coming years. The demand for athletic footwear products is increasing rapidly owing to their usage in various conditions. Athletic footwear products are used by various consumers such as athletes and climbers. In addition, there are fitness-conscious customers, gym-goers, and people who use them for mild fitness routines. Various types of athletic footwear available in the market are prepared from high-quality raw types, such as leather, foam, and plastic, which involve the use of advanced chemical additives.

Increasing environmental concerns are restraining the growth of the athletic footwear industry. The active measures taken by the government and environmental groups toward pollution act as a restraint for the market. Industry is one of the main causes of the pollution of the rivers and environment. For instance, Puma along with other sportswear brands including Nike and Adidas was addressed as ‘Dirty Laundry’ as the subject of a report by the environmental group Greenpeace. Puma was accused of working with suppliers in China who, according to the report, contributed to the pollution of the Yangtze and Pearl rivers.

Prominent players in the market, such as Nike, Inc.; Adidas AG; Skechers USA, Inc.; and New Balance Athletics, Inc. are focusing on developing innovative technologies to increase the stability of sports shoes and make them comfortable. For instance, Adidas AG has innovated a Forged Mesh, a single-layer shoe upper with a ribbed pattern created using ARAMIS motion capture technology for determining the strain exerted on the foot. The technology helps provide maximum flexibility and adequate support along the ankle to ensure free foot movement. Other technologies patented by Adidas AG include Adaptive Traxion, Boost, Bounce, Climachill, Promeknit, and Stableframe.

Browse through Grand View Research’s Clothing, Footwear & Accessories Industry Research Reports.

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Athletic Footwear Market Segmentation

Grand View Research has segmented the global athletic footwear market on the basis of type, end user, and region:

Athletic Footwear Type Outlook (Revenue, USD Million, 2017 – 2030)
- Aerobic Shoes
- Running Shoes
- Walking Shoes
- Trekking & Hiking Shoes
- Sports Shoes
Athletic Footwear End-user Outlook (Revenue, USD Million, 2017 – 2030)
- Men
- Women
- Children
Athletic Footwear Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Athletic Footwear market include

Adidas AG
ASICS Corporation
Fila Inc.
Under Armour, Inc.
Lotto Sport Italia S.p.A
New Balance Athletics, Inc.
Vans, Inc.
Nike, Inc.
Puma SE
Reebok International Ltd.

Order a free sample PDF of the Athletic Footwear Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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