Sneaker Market Size, Growth Strategies, Trends, Analysis and Forecast 2024-2032

Written by oliverreigns  »  Updated on: May 09th, 2024

Sneaker Market Size, Growth Strategies, Trends, Analysis and Forecast 2024-2032

According to IMARC Group latest report titled “Sneaker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on sneaker market demand. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global sneaker market size reached US$ 88.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 147.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.76% during 2024-2032.

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Sneaker Market Overview:

Sneakers, also known as athletic shoes or trainers, are footwear specifically designed for sports or physical activity. They typically feature rubber soles for traction and cushioning to absorb impact. Originally created for athletic purposes, sneakers have evolved into a fashion staple, with various styles and designs catering to different tastes and preferences. From classic brands to luxury labels, sneakers have become symbols of status, culture, and self-expression. With innovations in materials and technology, modern sneakers offer comfort, performance, and style, appealing to athletes, fashion enthusiasts, and collectors alike. Whether worn for running, basketball, or simply as everyday casual wear, sneakers continue to hold a significant place in both sports and fashion industries.

Sneaker Market Trends:

The global market is majorly driven by changing consumer preferences, influenced by social media, celebrities, and streetwear trends. Sneaker collaborations between brands and celebrities or artists often generate hype and drive sales, fueling a culture of exclusivity and collectibility. Furthermore, the rise of athleisure wear has blurred the lines between athletic performance and casual fashion, expanding the market beyond sports enthusiasts to encompass a broader consumer base seeking both style and comfort.

Technological advancements in sneaker design, such as innovative cushioning systems and lightweight materials, continually attract consumers seeking enhanced performance features. Limited edition releases, scarcity marketing strategies, and resale platforms like StockX and GOAT contribute to a sense of urgency and FOMO (fear of missing out) among consumers, driving up demand and prices. Additionally, the globalization of fashion and the emergence of sneakerhead communities worldwide have spurred market growth, with regions like Asia-Pacific experiencing significant expansion.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • Adidas AG
  • ASICS Corporation
  • Benetton Group S.r.l.
  • Columbia Sportswear Company
  • ECCO Sko A/S
  • Hanesbrands Inc.
  • Kering SA
  • New Balance
  • Nike Inc.
  • Puma SE
  • Reebok International Limited (Authentic Brands Group LLC)
  • Skechers U.S.A. Inc.
  • Under Armour Inc.
  • VF Corporation

Sneaker Market Segmentation:

Our report has categorized the market based on product type, category, price point, distribution channel, and end user.

Breakup by Product Type:

  • Low-Top Sneakers
  • Mid-Top Sneakers
  • High-Top Sneakers

Breakup by Category:

  • Branded
  • Private Label

Breakup by Price Point:

  • Luxury
  • Economic

Breakup by Distribution Channel:

  • Specialty Stores
  • Supermarkets and Hypermarkets
  • Brand Outlets
  • Online Stores
  • Others

Breakup by End User:

  • Men
  • Women
  • Kids

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
  • Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
  • Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)

Key Highlights of the Report:

  • Market Performance (2018-2023)
  • Market Outlook (2024-2032)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

About US:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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