Athletic Footwear Market Size Hit New profit-making To 2030

According to the Market Statsville Group (MSG), the global athletic footwear market size is expected to grow around USD 211.1 billion by 2033, at a CAGR of 4.75% from 2023 to 2033.

The primary drivers fueling the market expansion are increasing consumer disposable income, a booming global retail e-commerce industry, and a growing passion and understanding of the health advantages of sports and fitness activities. To live a healthy lifestyle, young people are becoming more involved in sports and other related activities. At the same time, people are beginning to understand how sports and fitness activities can lower the risk of chronic diseases and promote good health.

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Scope of the Global Athletic Footwear Market

The study categorizes the athletic footwear market based on type and end-user at the regional and global levels.

By Type (Sales, USD Billion, 2019-2033)

Aerobic Shoes

Walking Shoes

Running Shoes

Sports Shoes

Trekking & Hiking Shoes

By End-User Outlook (Sales, USD Billion, 2019-2033)

Men

Women

Children

By Region Outlook (Sales, USD Billion, 2019-2033)

North America

US

Canada

Mexico

Europe

Germany

Italy

France

UK

Spain

Poland

Russia

The Netherlands

Norway

Czech Republic

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Indonesia

Malaysia

Thailand

Singapore

Australia & New Zealand

Rest of Asia Pacific

South America

Brazil

Argentina

Colombia

Rest of South America

The Middle East & Africa

Saudi Arabia

UAE

South Africa

Northern Africa

Rest of MEA

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Running shoes segment accounts for the largest market share during the forecast period by type

Based on type, the market is bifurcated into aerobic, walking, running, sports, trekking & hiking shoes. During the forecast period, running shoes account for the largest market share. This may be ascribed to their widespread use and the fact that they can be purchased for various budgets, from incredibly economical athletic shoes to quite opulent athletic shoes. Shoes for running are necessary for training, advanced running, road running, trail running, track running, and competition. The sports shoe market has been further examined in light of the most popular sports in each region. For instance, baseball, basketball, American football, ice hockey, tennis, and golf are all included in the U.S. market for sports shoes.

During the forecast period, a solid growth rate is projected for the trekking and hiking shoe market due to technical developments that have given hikers better comfort and flexibility.

Asia Pacific is projected to account for the largest market share, by Region

Based on the regions, the global athletic footwear market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific will dominate the global athletic footwear market in 2022. In the Asia Pacific, the demand for sports footwear is expected to be significantly fueled by rising disposable income levels and expanding e-commerce. Further, the growth of the sports footwear sector in this region is projected to be fueled by rising consumer spending, which is supported by robust economic growth and more disposable income. As per theWorld Bank.Org, in 2019, East Asia and the Pacific's GDP per person increased to 26.925 trillion from 26.351 trillion in 2018. Additionally, the robust development of numerous sports disciplines, like cricket, football, basketball, and others, which promote more people to consider sports as a pastime or a career, would aid in generating traction. The goodwill of the Indian Premier Competition, a significant cricket league in India, increased by 7% in September 2019, according to the Hindu Business Line.

Key Market Players in the Global Athletic Footwear Market

The global athletic footwear market is competitive, with key industry players adopting strategies such as type development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.

Major key players in the global athletic footwear market are:

ASICS Corporation

Adidas AG

New Balance Athletics, Inc.

Under Armour, Inc.

Lotto Sport Italia S.p.A

Puma SE

Reebok International Ltd.

Fila Inc.

Vans, Inc.

Nike, Inc

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