Title: Athletic Footwear Market size is forecast to grow at approximately 3% CAGR from 2016 to 2023
1Athletic Footwear Market Size, Share, Industry
Outlook Forecast 2016-2023
Athletic Footwear Market size is forecast to grow
at approximately 3 CAGR from 2016 to 2023
2 Global Market Scenario of Athletic Footwear
Industry
- Athletic Footwear Market size was USD 80 billion
in 2015 and is forecast to grow at approximately
3 CAGR from 2016 to 2023. Global shipments were
over 3.5 billion units in 2015. - The athletic footwear market incorporates
sportswear, trekking shoes, aerobics shoes,
walking shoes, and running shoes. Increased
awareness regarding healthy lifestyle that
motivates people to engage into some kind of
sports activity will drive the industry in the
coming years. - This motivated the leading brands to come up with
innovative and comfortable sports footwear
products. Growth in wholesale and retail
business, efficient supply chain, consumers
willingness and increased purchasing power have
fueled the global athletic footwear market. - Presently, mens athletic footwear market
captures about 60 of overall revenue generated.
Womens footwear accounts for around 25 share,
with the rest occupied by products for children,
which are estimated to witness rapid revenue
growth.
3 Continue
- The ecosystem is dominated by five leading brands
that collectively account for around 80 of the
global athletic footwear market share. Major
players are Reebok, Puma, Nike, Adidas, Asics,
New Balance Skechers, Converse, Vans, and
Saucony. - Nike, Adidas, and Asics led the industry in 2015.
The key strategies adopted by these players are
more number of retail outlets, large global
customer base, and strong distribution channel.
Consumers inclination for brands differs on the
basis of region, For example, Asics and Puma
dominate the European industry, while U.S. based
companies VF Corp., Skechers, and New Balance
have strong presence in North America. - Asia Pacific athletic footwear market share was
approximately 40 in 2015, with the region
expected to continue dominating global industry
revenue through the forecast timeframe. Europe is
also forecast to remain a sizable regional
industry in the coming years. U.S. athletic
footwear market size is expected to grow at
slower pace, due to being high labor and material
cost and strong competition.
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Research Methodology
5Regional and Competitive Insights
- Asia Pacific athletic footwear market share was
approximately 40 in 2015, with the region
expected to continue dominating global industry
revenue through the forecast timeframe. Europe is
also forecast to remain a sizable regional
industry in the coming years. U.S. athletic
footwear market size is expected to grow at
slower pace, due to being high labor and material
cost and strong competition. - Major driving forces for growth are increase in
disposable income in developing economies,
growing global population, rapidly spreading
awareness about health and fitness, and the
corresponding rise in demand for comfortable,
innovative and affordable products. The
increasing popularity of sports events such as
the Olympics, FIFA World Cup, ICC World Cup, etc.
has accelerated athletic footwear market.
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Products Insights
- The industry is segmented by consumer groups,
category, and retail channel. Consumer groups
include men, women and kids. Category wise
classification mainly comprises inserts used in
aerobics, running, walking shoes, and athleisure.
This segment accounted for nearly 35 of the
global athletic footwear market size, with CAGR
estimations of 1.7 from 2016 to 2023. - Other categories include sports, which contains
products suited for various sports such as
baseball, basketball, soccer, tennis, cricket,
etc. This application area occupied majority of
the overall volume share in 2015. Hiking includes
trekking and walking boots, rugged footwear,
mountaineering shoes, specialty boots, and
seasonal boots. - Class-based fitness on account of growing social
fitness trend is forecast to drive the athleisure
segment and open new opportunities for companies
operating in the industry. Retail channel is
divided into store based, which includes discount
stores, departmental stores and channels,
specialty stores, franchise, and sports and
athletic goods stores.
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