The global athletics footwear market is growing at a considerable CAGR of 4.0% during the forecast period (2021-2027). The market growth is mainly augmented by an increase in the importance of fitness activities due to the rise in the prevalence of chronic diseases such as obesity, depression, and diabetes among others across the globe. The young, as well as the elder population, are engaged in adopting a healthy lifestyle to remain fit and hence, actively participating in sports and other fitness activities. Moreover, the rising level of disposable incomes of the consumers, increase in e-commerce retail sector, and rise in women participation in running as well as international events by representing their countries have given a sharp rise in the market growth. Different footwears play a significant role while performing any physical activity to provide comfort and prevention against muscle injuries, leg injuries, back pain, and knee injuries. In addition to this, expansion of the retail channel around the globe and increasing brand awareness in the emerging economies are some of the other factors triggering the growth of the market.
However, rising prices of footwear of different brands, increase in the prevalence of copied or fake footwears are some of the constraints that can challenge the growth of the market in the forecast period. Conversely, technological advancement leading to the innovation of new footwear and an increase in needs for professionals are the opportunities estimated for the market players. Hiking shoes for the hikers for more comfort, flexibility, and high grip have also contributed to the growth of the market over the past few years. For instance, in October 2020, Adidas developed a new technology “Strung” that transforms athlete data into dynamic performance material. The new footwear combines high-res creation technologies ADIDAS 4D & STRUNG, as the industry’s first fully athlete data-coded shoe.
Impact of COVID-19 on the Global Athletics Footwear Market
The global athletics footwear market is hardly hit by the COVID-19 pandemic since December 2019. The outbreak of COVID-19 in these major economies has disrupted the manufacturing and supply of athletic footwear across the globe which resulted in a decrease in market share. This was mainly due to the lockdowns imposed by the governments of several countries due to which many commercial shops were not being operated. The fall in shipment exports and slow domestic demand for athletics footwear have negatively impacted the market growth in the commercial sector. Moreover, a strict ban on sporting events also severely affected the market growth and the activities involving crowd gathering were completely stopped. Universities and schools were also shut which resulted in the limitation of sports activities among the kids and youngsters. However, the market is estimated to grow in the forecast period as many people will become health conscious and will engage themselves in fitness activities to be healthy.
Segmental Outlook
The market is segmented based on type and end-user. Based on the type segment, the market is segmented into running & walking shoes, hiking & trekking shoes, sports shoes, and other shoes. Further, based on the sports shoe segment, the market is segmented into soccer shoes, basketball shoes, cricket shoes, badminton shoes, football shoes, swimming shoes, tennis shoes, and other sports shoes. Based on the end-user segment, the market is bifurcated into men, women, and kids.
Global Athletics Footwear Market Share by Type, 2020 (%)
Running & Walking Shoes Segment to Hold a Lucrative Share in the Global Athletic Footwear market
Amongst the type segment of the global athletic footwear market, the running & walking shoes held one of the largest segments in 2020. These include advanced running shoes, trail running, track running, and many more other types of shoes. The drivers contributing to the growth of running shoes are that these are available in wide ranges and are even used for daily usage. Moreover, the need of getting involved in many activities to prevent chronic diseases is also effectively driving the network of running shoe markets. Many companies are being involved in the innovation of stylish footwear to meet consumer demands. For instance, in April 2021, Nike launched Air Zoom Pegasus 38 FlyEase. The footwear benefits include foam tongue which helps reduce pressure on the top of the foot.
Regional Outlooks
The global athletics footwear market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America (the US and Canada), Europe (Germany, Spain, Italy, France, the UK, and the Rest of Europe), Asia-Pacific (India, China, Japan South Korea, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East and Africa, and Latin America). North America is estimated to be one of the leading regions in the global athletics footwear market. Rising e-commerce retail services, the presence of prominent players, rising health concerns, and the presence of a high population preferring outdoor activities are the major factors that contribute to the growth of the market in the North American region.
Global Athletics Footwear Market, by Region 2021-2027
