Athletic footwear are used on a large scale by athletes. The global athletic footwear market is influenced by several aspects which have a direct influence on its growth. The rising participation of young population in sports, fitness activities is one of the major reasons which is pushing the growth of athletic footwear market. The rise in the disposable income is also growing owing to higher income scales. Coupled with this aspect, the increasing awareness about healthy lifestyle is pushing the growth of the global athletic footwear market. The demand for innovative and comfortable footwear as well as increasing e-commerce retail sector is driving the growth of the global athletic footwear market.
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Innovations which have led to increased functionality, use of material which reduce the overall weight of the footwear and quick availability are few of the aspects which have a greater impact on the athletic footwear market in a positive way. Europe region is expected to show higher attractiveness in the athletic footwear market.
Footwear is a garment worn on feet for protection from external agents while performing outdoor activities. Athletic footwear refers to the product worn by athletes which have similar function of foot care along with higher additional functionality according to the sport they are designed for. Athletic footwear thus provide better protection, easy movement control, mid-foot support as well as heel stabilization and cushioning.
According to Fact.MR’s research report on the athletic footwear market, the market is anticipated to reach a value of more than US$ 83 Bn by 2022 reflecting a moderate CAGR during the period 2017-2022.
Running Shoes and Backpacking Shoes Show Cut Throat Competition
Running shoes are expected to show the highest share in athletic footwear market, with 16.4% in 2017, thereby dominating the global athletic footwear market by product type. Backpacking Shoes depicts a similar share in athletic footwear market, but has a higher growth rate through 2022.
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Specialty Boots Segment Poised to Reflect High Pace
The specialty boots sales will grow at the highest rate in athletic footwear market. It is poised to register a robust CAGR of 5.8 % through 2022. However, this segment shows a lower share, almost half the share of athletic footwear market compared to the running shoes.
Specialty Stores Segment show High Potential; Sport Stores show Dominance
Specialty stores segment by distribution channel is expected to show higher growth rate in athletic footwear market during 2017 to 2022. It is poised to register a CAGR of 5% throughout the period, but has a comparatively less share in athletic footwear market. It is expected to gain high BPS by the end of 2022. Sport stores show dominance over the athletic footwear market as they reflect the highest share in athletic footwear market by value and this trend is poised to continue over the period of forecast. As far as market shares are concerned, there is a tough call between sport stores segment and hypermarket/supermarket segment as both have a similar shares in athletic footwear market, sport stores segment having the upper hand.
Competition Tracking
The report also profiles companies that are expected to remain active in the expansion of the athletic footwear market through 2022, which include ASICS Corporation, New Balance INC., Skechers, INC., VF Corporation, Deckers Outdoor Corporation, Wolverine World Wide, Inc., Amer Sports Corporation, NIKE Inc., Adidas AG, PUMA SE and K-Swiss INC.
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