Athletic Footwear Market Assessment Covering Growth Factors and Upcoming Trends till 2022 End
The global athletic footwear market is anticipated to show a value of more than US$ 83 Bn and is expected to grow at a moderate rate during the period of forecast of 2017 to 2022.
[USPRwire, Mon Jun 10 2019] Athletic footwear is used by athletes owing to their enhanced functionality. The global athletic footwear market is expected to witness growth which is impacted by several factors. There is increased participation of young population in sports and athletics. Along with rising interest, the awareness regarding health is also at its peak which calls for higher demand of athletic footwear in order to maintain foot health. The Athletic Footwear Market is influenced by several pluses such as mid foot balancing, cushioning, better speed control, anti-friction properties, comfort, breathability slowing down perspiration, new innovations in footwear which further improve their functionality such as reduction in weight and heel stabilization and easy availability. Europe region is more likely to dominate the global market and shows higher market attractiveness index. The global athletic footwear market is anticipated to show a value of more than US$ 83 Bn and is expected to grow at a moderate rate during the period of forecast of 2017 to 2022.
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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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 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.
Europe region shows high attractiveness index and is more lucrative region in the athletic footwear market. The share of Europe in athletic footwear market is high and it dominates the global market by region and is poised to grow at a moderate growth rate. Asia-Pacific excluding Japan (APEJ) region is anticipated to grow at the highest growth rate in athletic footwear market reflecting a CAGR of 5.2% during the forecast period. APEJ region shows high potential during the forecast period. Other regions have a significant share in the athletic footwear market.
The economy segment by price-based type shows higher growth rate as compared to other segments and also higher share in athletic footwear market by revenue. It is also anticipated that this segment will gain higher BPS by the end of 2022. The super-premium segment is also growing at the same growth rate as economy segment but the share of economy in athletic footwear market is almost double than that of the super-premium variants.
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Women segment by demographics is poised to show higher growth rate throughout the forecast period. However, the men segment dominate the global athletic footwear market by demographics and reflect a share of 40.4% as of 2017 and this trend is poised to continue throughout the forecast period of 2017 to 2022. The women segment is likely to witness higher gain in BPS by the end of 2022.
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. 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.
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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