Sports Shoes Market Size, Share, Growth, and Industry Analysis, By Type(Athleisure Shoes, Running Shoes, Ball Sports Shoes and Others), By Application (Men, Women and Children) and Regional Forecast to 2032

Updated On: 10 September 2024

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SPORTS SHOES MARKET REPORT OVERVIEW

The global Sports Shoes Market size was USD 116.9 billion in 2023 and the market is projected to touch USD 265 billion by 2032, exhibiting a CAGR of 8.6% during the forecast period.

Athletes shoes or trainer shoes are a type of shoes that are specifically intended for several kinds of activity and sports. Designed not only to increase sporting capabilities of an individual, but also in a bid to minimize possible chances of sustaining an injury, and also to provide comfort during sporting activities.

COVID-19 Impact: Market Growth restrained by the Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The covid outbreak disrupted most of the supply chain networks hence retarding production and distribution of sports shoes. Pandemic measures such as lock downs, limitations, and reduction of workforce had an impact on manufacturing sites with Asia most affected due to its strategic importance in production hubs.

LATEST TRENDS

"Sustainability and Eco-Friendly Materials to Propel Market Growth"

Environmentally friendly economy is another key theme gaining importance in the context of the sports shoes market as it develops the concept of sustainability. Also noticing an increase in the awareness of the effects of global warming, depletion of natural resources, shoe manufacturing companies involved in sports shoes are now practicing environmentally friendly techniques and using environmentally friendly raw materials. This is done through wearing out or reusing materials like ocean plastics and post-consumer waste in manufacturing shoe parts and looking at prospects of utilizing biodegradable or plant base materials instead of the universally used synthetic material.

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SPORTS SHOES MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Athleisure Shoes, Running Shoes, Ball Sports Shoes and Others.

• Athleisure Shoes- A type of shoes which is designed for wearing both during sports activities as well as during other casual occasions. They are worn either to be used and perform specific tasks, or to look good, they provide comfort, support and aesthetic value.
• Running Shoes- Sport shoes are footwear mainly built for running providing the user proper support, shock absorption and flexibility needed for continuous striking on the ground.
• Ball Sports Shoes- These are specially designed for ball games like basketball, soccer and tennis among others Ball sports shoes are appropriate for ball games. They offer specific required grip and holding facility suitable for such sports.

By Application

Based on application the market can be categorized into Men, Women and Children.

• Men- From long-distance running, trail, and track running, this shoe was created for different types of running. They offer protection, support and acts a barriers to absorb the effect of running on the feet.
• Women- Specially designed based on the biomechanics and the feet structure that is unique in woman. They are intended for running activities in particular with focus towards shокон and stability.
• Children- Made on the constant increase in the size of the feet of children and the needs of their feet during each phase of play and running.

DRIVING FACTORS

"Growing Health and Fitness Awareness to Drive Market Advancement"

One of the key driving factors in the Sports Shoes market growth is the Growing Health and Fitness Awareness. Awareness level of health and fitness is a pivotal driver for the sports shoes as it provides a boost to the health consciousness people and sports interest. As more people appreciate the need of an active lifestyle as it contributes to their overall wellbeing, they have started providing value for good footwear that would improve their activity and comfort. It was a result of this realization that also expanded the pool of consumers searching for better quality of sports shoes that have some additional facilities such as high density cushioning, firm support, and extra endurance.

"Rising Popularity of Athleisure to Expand the Market"

Increase in the athleisure trend is the leading factor that is contributing to the growth of the sports shoes market, as it is a growing trend of combining exercise wear with formal wear. Athleisure wear has democratized sports shoes, changing them from functional wear into stylish shoes that can be worn practically anywhere. This phenomenon is driven by a shift in wearing comfort and functionality of sportswear for everyday wears, this has made consumers to look for sport shoes that are perfect for sports wears not only but are also appropriate to be worn casually.

RESTRAINING FACTOR

"High Production Costs Poses Potential Impediments to Market Growth "

This is attributed to the high degree of specialization and complication in the process of production of high quality sports shoes which makes the overall cost of production to be relatively high. Designing sports shoes is not easy, it needs technologies, superior quality material and complicated style or features to match the requirements of performance, durability, and comfort. The application of creative and better cushioning techniques, aerated fabric, and strong outsoles can increase the cost of raw materials and result in complex production methods.

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SPORTS SHOES MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Asia Pacific to Dominate the Market due to Major Manufacturing Hub "

Asia Pacific has emerged as the most dominant region in the Sports Shoes market share due to a convergence of factors that propel its leadership in this dynamic industry. A good number of world’s sports shoe manufacturing plants are based in Asia Pacific region. Many developing countries such as China, Vietnam, and Indonesia have their competitive advantage based on cheap labor and an existing structure of an industrialized economy.

KEY INDUSTRY PLAYERS

"Key Players Transforming the Sports Shoes Market Landscape through Innovation and Global Strategy"

Major industry players are pivotal in shaping the Sports Shoes  market, driving change through a dual strategy of continuous innovation and a well-thought-out global presence. By consistently introducing inventive solutions and staying at the forefront of technological progress, these key players redefine the industry's standards. Simultaneously, their expansive global reach enables effective market penetration, addressing diverse needs across borders. The seamless blend of groundbreaking innovation and a strategic international footprint positions these players as not only market leaders but also as architects of transformative shifts within the dynamic domain of  Sports Shoes.

List of Market Players Profiled

• Nike(S.)
• Adidas AG(Germany)
• Puma(Germany)
• New Balance(S.)
• Sketcher(S.)

INDUSTRIAL DEVELOPMENT

Jan 2023- A cricket club based in the U. K., by the name Aztecs CC had a symbiotic relationship with a Southampton-based business by the name Payntr, that exports cricket shoes. During the partnership, the cricket club offered all its members an opportunity to buy Payntr footwear, accessories and get 20% off by using the code AZTECS20 while ordering online.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.