Athletic Footwear Market, By Category (Insert Footwear (Aerobic Shoes, Athleisure Footwear, Running Shoes, and Walking Shoes), Sports (Cross Training) Footwear (Cricket Footwear, Tennis Shoes, and Other Sport Shoes), Hiking Shoes (Outdoor/ Rugged Footwear, Trekking and Walking Boots, and Other Athletics), and Backpacking Boots (Hiking Boots, Technical Shoes, and Approach Shoes), By Consumer Group (Women, Men, and Kids), By Retail Distribution (Store-Based and Non-store Athletic) By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) is estimated to be valued at US$ 132.6 Bn in 2024 and is expected to exhibit a compound annual growth rate (CAGR) of 3.7% during the forecast period (2024 – 2031), as highlighted in a new report published by Coherent Market Insights.
Athletic footwear is the type of footwear that is intended to be worn by athletes during sports activities. These shoes provide comfort during exercise and running. Athletic footwear is easily available at sports and athletic goods stores, online retail stores, and supermarket/ hypermarket.
Global Athletic Footwear Market - Impact of Coronavirus (Covid-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly and had a serious negative impact on the economies, social behaviours, and healthcare of every country in the world.
The novel Coronavirus (COVID-19) has impacted almost all the industries globally including the consumer goods market. There has been a substantial increase in the demand for athletic footwear during the pandemic period due to the increasing awareness about personal health and well-being that is prevailing among the individuals. Global athletic footwear market has been significantly impacted by the COVID-19 pandemic. The pandemic has led to a decline in global footwear consumption, with the demand for sports shoes and casual shoes decreasing across all end user segments. The first and second wave of the pandemic inflicted severe blows to the population as well as the economy, thereby resulting in a significant impact on the global athletic footwear market. The discretionary nature of footwear made it one of the most heavily affected by the pandemic, considering the combined effect of retail closures and frugality resulting from the rapidly deteriorating economic situation. The pandemic has also disrupted the production lines of major multinational corporations, thus leading to factory lockdowns and manpower shortages, which have halted production in the footwear industry. Despite these challenges, the global athletic footwear market is projected to grow at a significant rate, driven by factors such as rising population awareness about encouraging people to participate in sports or recreational activities. The market is expected to benefit from the increasing number of desk jobs around the world, which has led to a greater emphasis on physical fitness and the need for appropriate athletic footwear.
Global Athletic Footwear Market: Recent Developments
- In June 2023, ASICS, a Japan based multinational corporation that produces sportswear, launched the GEL- KAYANO, the most comfortable stability running shoe which featured brand new technologies to provide runners with adaptive stability and unprecedented comfort during every step.
Browse 24 Market Data Tables and 28 Figures spread through 150 Pages and in-depth TOC on “Global Athletic Footwear Market”- Forecast to 2031, Global Athletic Footwear Market, By Category (Insert Footwear (Aerobic Shoes, Athleisure Footwear, Running Shoes, and Walking Shoes), Sports (Cross Training) Footwear (Cricket Footwear, Tennis Shoes, and Other Sport Shoes), Hiking Shoes (Outdoor/ Rugged Footwear, Trekking and Walking Boots, and Other Athletics), and Backpacking Boots (Hiking Boots, Technical Shoes, and Approach Shoes), By Consumer Group (Women, Men, and Kids), By Retail Distribution (Store-Based and Non-store Athletic) By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa)
Link: https://www.coherentmarketinsights.com/market-insight/athletic-footwear-market-1275
Key Takeaways of the Global Athletic Footwear Market
- Global athletic footwear market is valued at US$ 132.6 Bn in 2024 and is forecast to reach a value of US$ 170.9 Bn by 2031 at a CAGR of 3.7% between 2024 and 2031.
- The men consumer group segment dominated the global athletic footwear market in 2024, accounting for 62% share in terms of value, followed by women and kids segment, respectively.
- Major players operating in the global athletic footwear market are Nike, Inc., Adidas Group, Crocs, Inc., Wolverine World Wide, Inc., Skechers U.S.A., Inc., Under Armour, Inc., Puma AG, Geox SpA, K- Swiss, and New Balance
- Growing interest of people regarding sports activities and health and fitness, and the flourishing e-commerce industry is anticipated to drive the sales of the athletic footwear industry.
