Global Athletic Footwear Market: Snapshot
Men’s footwear have consistently been the leading segment in the global athletic footwear market over the past few years when it comes to gender and age demographics. This trend is expected to continue for the time being, with men’s footwear taking up close to 55% of the market in terms of value till 2018. Women’s athletic footwear are expected to form 30% of the global athletic footwear market value for the same period, while kids’ footwear remains the minority share. The total population of men and women demanding athletic footwear is increasing rapidly, with both genders showing different preferences. Men prefer athletic footwear with greater quality, durability, and comfort, while women are leaning towards style and comfort.
The factor of comfort is an integral part of the global athletic footwear market and the growing demand for greater comfort is currently the leading driver for the market over the coming years. In fact, the general consumer base for footwear is steadily towards more athletic footwear and is showing a strong appeal for comfort wear. Another key driver working in favor of the global athletic footwear market is the globally increasing awareness of needing more exercise and outdoor activities. The current hectic lifestyles of the middle class is putting more focus on finding ways to work out and relieve stress, and the high comfort factor athletic footwear fall right in place for a consumer pool that is showing an increasing rate of disposable income.
However, the global athletic footwear market is currently being hampered by the rising costs of raw materials. As production rates strive to match the growing demand, manufacturers are finding it difficult to maintain a lower product cost while gaining profits. Another factor adversely affecting the global athletic footwear market is the growing geriatric demographic, or rather, the reduction in percentage of the younger consumer population. This effect is especially prevalent in developed economies such as the U.S., where there is a slow fall in demand as compared to the overall population due to the lesser percentage of younger consumers. By the end of 2018, the global athletic footwear market is expected to reach US$84.42 bn.
APAC Dominance in Global Athletic Footwear Market to Continue
The sheer volume of demand arising from Asia Pacific in the global athletic footwear market owing to its densely populated urban locations is putting this region at the top of the charts. This region will continue to lead the global athletic footwear market over the coming years due to the increasing amount of disposable income available among individuals, and a growing interest in manufacture shown by globally prominent players into countries such as China and India. By 2018, Asia Pacific was expected to hold a whopping 41.6% of the overall demand in the global athletic footwear market.
On the other hand, the growth in demand for athletic footwear is expected to remain sluggish in Europe and North America, where the market has grown saturated and the percentage of the elderly is much higher than other regions, impeding in the purchase of athletic footwear.
Retail and eCommerce Spurring Athletic Footwear Sales
Many key brands as well as retailers are refocusing their investment proportions and sales efforts in the retail sector. This is due to a growing number of consumers that are highly fashion conscious and at the same time are demanding for a greater variety of athletic footwear. Due to this demand for comfort, fashion, and utility, there is currently a wide array of types of athletic footwear in the world. Retail agents are focusing more on strategies that promote impulse buying, further improving sales records. Similar factors are seen in the ecommerce sector which is surging in terms of usage by consumers and for the available brands and product types online.
The key players operating in the global athletic footwear market at the moment, include Adidas, Asics, Nike, Puma, and Reebok, while other companies such as Vans, K-Swiss, Saucony, New Balance, Converse, and Skechers are displaying a rise in sales and market shares, challenging the current leaders.
Global Athletic Footwear Market: Overview
The changing lifestyles and shifting inclinations towards exercise and sporting activities have played a key role in shaping the trajectory of the global athletic footwear market. The growth of e-commerce has opened up various distribution channels, thus encouraging the growth of the global market in the recent years. Analysts state that men’s footwear segment is expected to lead the global market in the near future. However, women’s footwear segment is also projected to create a significant stir as women are also realizing the advantages of engaging in outdoor activities.
The research report has been compiled using primary and secondary research methodologies to present an accurate and exact case of the global athletic footwear market. The report is focused on providing its readers a granular view of the segments in the global market along with the factors influencing them. The analysts have described the competitive landscape in complete detail and have shared details pertaining to the bargaining power of suppliers and buyers. The document is collated with comments and recommendations from expert market leaders for new and existing players.
Global Athletic Footwear Market: Drivers and Trends
The research report states that the opportunity in the global athletic footwear market is likely to be worth US$84.4 bn by the end of 2018. During the forecast years of 2012 and 2018, the global athletic footwear market is expected to surge at a CAGR of 1.80%. The consistently growing inclination towards sports is the primary reason for the rising demand for athletic footwear in the coming few years.
The huge pool of young population, especially in the developing countries, is anticipated to spike the demand for athletic footwear in the near future. Furthermore, increasing participation in international sporting events such as the ICC World Cup, FIFA World Cup, and the Olympics are collectively expected to boost the demand for high quality of athletic footwear. The rising number of trekking, fitness, and cycling enthusiasts are also expected to trigger a swift uptake of athletic footwear in the near future. However, the global athletic footwear market is being hampered by the rising cases of piracy and growing concerns about the disposal and manufacturing of athletic footwear on the carbon footprint of manufacturing nations.
Global Athletic Footwear Market: Geographical Outlook
Geographically, the global athletic footwear market is segmented into Europe, North America, Asia Pacific, and Rest of the World. According to the report, Asia Pacific holds a dominant position as the regional market is anticipated to hold a share of 41.6% in the global market. The huge population base and the remarkable rise in the disposable incomes of the people in the region are both expected to act as key factors in propelling the demand for athletic footwear in the coming few years. The increasing participation of overall population of Asia Pacific in sporting activities has also had a significant impact on the growing demand for athletic footwear in the recent years.
Europe is the second-leading regional market that has shown a significant growth in the demand for athletic footwear. The increasing awareness amongst individuals to exercise in order to live a healthy lifestyle is an integral component fueling the growth of athletic footwear market across Europe. On the other hand, North America athletic footwear market is likely to remain sluggish due to maturing markets.
Key Players Mentioned in the Report
Some of the key operating players in the global athletic footwear market are Sketchers, New Balance, Nike, Adidas, Reebok, Asics, Puma, Vans, K-Swiss, and Converse.
Major geographies analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World (RoW)
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments