USD 127.3 billion
Sports Footwear Market Size, Share, Growth Analysis, By Gender(Men, Women, Kids.), By Distribution Channel(Offline, Online), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25L2016 |
Region:
Global |
Published Date: April, 2024
Pages:
165
|Tables:
62
|Figures:
75
Sports Footwear Market Insights
Sports Footwear Market size was valued at USD 127.3 billion in 2019 and is poised to grow from USD 133.54 billion in 2023 to USD 205.39 billion by 2031, growing at a CAGR of 4.9% in the forecast period (2024-2031).
The COVID-19 pandemic's effects have been unprecedented and overwhelming on a global scale, with sports shoes experiencing a decline in demand in every region. According to an analysis, the market experienced a drop of -8.94% in 2019 compared to the average year-over-year increase during 2017–2019. Sports shoes are primarily made for physical activities like sports or other types of exercise. Due to their ability to provide flexibility, stability, or motion control, they are crucial for athlete’s road traction, torsional stability, and other advantages. The item is in high demand growing at an impressive rate due to the increase in sporting events.
In addition, there is a high level of competition in sports like football, baseball, hockey, and others number of competitors, which will fuel market expansion. As reported by the Australian Males and females both actively participate in cricket, according to the National Cricket Census females. Additionally, approximately 1.5 million Australians actively participate in cricket programmes or contests. As a result, more people are likely to participate in sports so as to assist the market.
US Sports Footwear Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Online
Fastest Growth
Online
Growth Rate
4.9% CAGR
Global Sports Footwear Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Sports Footwear Market Segmental Analysis
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.
Sports Footwear Market Analysis by Distribution Analysis
The offline market sector is anticipated to dominate the global sports footwear market. Retail establishments including supermarkets, brand outlets, and outlet stores are included in this sector. To enhance their consumer base and geographical reach, some well-known corporations plan to open retail locations in emerging markets. For instance, the biggest sportswear brand, PUMA, debuted it's a first interactive and remodelled retail location in India in October 2019.
Due to the rising number of internet users and the simple accessibility and availability of a broad variety of sports footwear at an affordable price, the online segment is anticipated to develop at the fastest rate.
Global Sports Footwear Market by Distribution Channel, 2021 (%)
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Sports Footwear Market Regional Insights
With a 32.6% market share in 2021, the North American region dominated the global sports footwear market. Due to the rising number of people who engage in outdoor sports and adventurous activities, the market is anticipated to expand. For instance, it was calculated that 50.5% of Americans participated in outdoor activities. In addition, it is anticipated that the expanding number of e-commerce companies fueling goods purchases will increase demand. In 2020, business-to-consumer e-commerce sales in the US totalled $1,098 billion.
Through the projection period, the Asia Pacific region is anticipated to experience considerable growth at a CAGR of 5.1%. The sports footwear market is anticipated to rise as a result of increased consumer expenditure, which is supported by strong economic growth and higher disposable income. GDP per capita in East Asia Pacific increased to 26.925 trillion from 26.351 trillion. As more individuals take up sports as a hobby or a profession, the booming growth of several sports industries, including cricket, football, basketball, and others, will boost the global sports footwear market. In September 2019, the Indian Premier Competition's brand worth climbed by 7%.
Global Sports Footwear Market By Geography, 2021 - 2028
- Largest
- Fastest
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Sports Footwear Market Dynamics
Sports Footwear Market Driver
- People's knowledge of health and fitness has grown, and so has the number of people participating in sports and physical activity, demonstrating positive sports footwear market growth. Additionally, the market growth will be impacted by the increasing innovation in sport's shoes, such as improved functionality and lightweight running shoes. Manufacturers are offering customisable alternatives for rapidly changing preferences in order to appeal to more consumers.
- Government entities on a global, regional, and local level concentrate on health and innovative ways to educate the public about the advantages of physical activity. Government agencies in a number of affluent nations are continuously working to create attractive healthcare options. Due to the population's increased propensity for sports and fitness activities, this would also result in an increase in the sports footwear market. Additionally, governments all over the world are concentrating on raising the amount of money invested in sports, which would increase the rate of consumption.
Sports Footwear Market Restraint
- Lesser availability of sports opportunities and lower uptake of expensive sports footwear in rural areas and low-income nations hamper the market growth. Additionally, the high-priced branded footwear has faced threats from the availability of low-cost counterfeit goods and the rise of various small-scale market participants.
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Sports Footwear Market Competitive Landscape
There are many regional and international competitors in the athletic footwear business, which makes it competitive. Businesses compete on a range of factors, such as product offerings, price, material quality, and marketing activities, to gain a competitive advantage in the market. Businesses use social media and digital marketing to let customers know when new products are launched. E-commerce has seen significant growth in recent years and is one of the favoured channels for the market's key participants. For instance, In January 2021, Patta and New Balance joined to collaborate on New Balance’s 991 sneakers. The new product would be known as the Patta x New Balance M991Pat, which will feature a dusty pink/light petrol colourway.
Top Players in the Global Sports Footwear Market
- Nike, Inc.
- Adidas AG
- PUMA SE
- Under Armour, Inc.
- New Balance Athletics, Inc.
- ASICS Corporation
- Skechers USA, Inc.
- Reebok International Ltd. (a subsidiary of Adidas AG)
- Vans, Inc. (a subsidiary of VF Corporation)
- Converse Inc. (a subsidiary of Nike, Inc.)
- Brooks Sports, Inc.
- Li-Ning Company Limited
- K-Swiss Inc.
- Mizuno Corporation
- Fila Korea Ltd.
- Anta Sports Products Limited
- 361 Degrees International Limited
- Wolverine World Wide, Inc.
- Columbia Sportswear Company
- The North Face (a subsidiary of VF Corporation)
Sports Footwear Market Recent Development
- In June 2021, Adidas launched a golf shoe called the “Solarthon” that is both lightweight and comfortable. Further, the brand aims to introduce Solarthon in limited-edition grey, blue and white colourways. The new shoe features Adidas’ Primeblue textile upper, a recycled yarn containing at least 50% Parley Ocean Plastic, to help the company’s “End Plastic Waste” initiative.
- In May 2021, Nike unveiled its latest creation- “ZoomX Invincible Run” running shoes, as an addition to its expanding portfolio of athletic footwear. The design for the new product has drawn inspiration from the brand’s previous release, “Nike React Infinity Run” shoes.
Sports Footwear Key Market Trends
- One of the key trends that will contribute to the market expansion is the use of environmentally friendly materials in the production of sports shoes. Consumer demand for eco-friendly footwear is growing as environmental protection is given more attention. Additionally, a number of firms are working to meet customer needs and maintain a consistent focus on creating shoes that are environmentally friendly and sustainable. For instance, Adidas unveiled its first ecologically friendly, 100% recyclable running footwear product in April 2019.
Sports Footwear Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, by distribution channel, the offline segment dominated the global sports footwear market in 2021 and is anticipated to maintain its dominance over the forecast period. In 2021, North America dominated the global sports footwear market owing to the region's engagement in outdoor sports and adventurous activities.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 127.3 billion |
| Market size value in 2031 | USD 205.39 billion |
| Growth Rate | 4.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Sports Footwear Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Sports Footwear Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Sports Footwear Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sports Footwear Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sports Footwear Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sports Footwear Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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