Athletic Footwear Market size is forecast to grow at approximately 3% CAGR from 2016 to 2023

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Athletic Footwear Market size is forecast to grow at approximately 3% CAGR from 2016 to 2023

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Athletic Footwear Market size was USD 80 billion in 2015 and is forecast to grow at approximately 3% CAGR from 2016 to 2023.Major players are Reebok, Puma, Nike, Adidas, Asics, New Balance Skechers, Converse, Vans, and Saucony.Nike, Adidas, and Asics led the Athletic footwear industry in 2015. Asics and Puma dominate the European industry, while U.S. based companies VF Corp., Skechers, and New Balance have strong presence in North America. – PowerPoint PPT presentation

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Title: Athletic Footwear Market size is forecast to grow at approximately 3% CAGR from 2016 to 2023


1
Athletic 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.

4
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Research Methodology
5
Regional 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.

7

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