Drivers and Trends Benefits Athletic Footwear Market to Grow at 4% CAGR, projected to Reach USD 135 billion in 2023

Introduction

The Global Athletic Footwear Market is experiencing a dynamic shift, driven by technological advancements, evolving consumer preferences, and changing economic landscapes. This market has become a focal point for stakeholders, including manufacturers, suppliers, and investors, who are keen on exploring growth opportunities in this evolving industry. As businesses strive to adapt to these changes, understanding the market’s key drivers, segmentation, and regional dynamics becomes crucial. This blog provides an in-depth analysis of the Athletic Footwear Market, examining the market overview, dynamics, segment analysis, and regional projections.

Market Overview

The Global Athletic Footwear Market size was valued at around USD 135 billion in 2023 and is expected to grow at a compound annual growth rate or CAGR of 4% from 2024-30. This is due to the rising awareness of health benefits and growing interest in sports and several associated activities. Nowadays, as the younger population is showing great enthusiasm towards sports to stay healthy & to include any one physical activity in their lifestyle, this, in turn, is instigating the demand for athletic footwear globally.

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Athletic Footwear Market Dynamics

Several dynamics are shaping the Athletic Footwear Market. On the demand side, the growing consumer focus on quality and sustainability is driving the need for advanced solutions. On the supply side, market players are intensifying competition by launching innovative products and expanding their geographic presence.

Global Athletic Footwear Market Driver:

Inclination Towards Sports & Physical activities – The increasing global interest in sports and other fitness activities led to a boost in the market and also registered further growth. With the rising popularity of sports and fitness footwear, it facilitates gaining more and more consumer attention in the market. Footwear that provides comfort gradually minimizes the chance of injury and provides support is always in high demand. Even the realization of regular exercise contributes to the Athletic Footwear Market Growth. For Instance:

In April 2024, Adidas introduced 49 styles of shoes to choose from, 9 sponsored nations, and the 2024 Olympic and Paralympic Games in Paris.

Moreover, an increasing number of sports tournaments is also expected to affect the market growth graph. Several tournaments are being organized, local, regional, and many more, and numerous individuals are participating in them to display their skills & expertise. Hence, with the growing participation in the tournaments, there is a high demand for athletic footwear, further driving the market growth.

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Athletic Footwear Market Segment Analysis

The Athletic Footwear Market is segmented based on:

By Type of Footwear

• Aerobic Shoes — Market Size & Forecast, 2019-2030 (USD Million)
• Running Shoes — Market Size & Forecast, 2019-2030 (USD Million)
• Walking Shoes — Market Size & Forecast, 2019-2030 (USD Million)
• Trekking & Hiking Shoes — Market Size & Forecast, 2019-2030 (USD Million)
• Sports Shoes — Market Size & Forecast, 2019-2030 (USD Million)

By Sport Type

• Cricket — Market Size & Forecast, 2019-2030 (USD Million)
• Football — Market Size & Forecast, 2019-2030 (USD Million)
• Tennis — Market Size & Forecast, 2019-2030 (USD Million)
• Basketball — Market Size & Forecast, 2019-2030 (USD Million)
• Other — Market Size & Forecast, 2019-2030 (USD Million)

By End User

• Men — Market Size & Forecast, 2019-2030 (USD Million)
• Women — Market Size & Forecast, 2019-2030 (USD Million)
• Children — Market Size & Forecast, 2019-2030 (USD Million)

By Price Range

• Up to USD 25 — Market Size & Forecast, 2019-2030 (USD Million)
• USD 26 to 50 — Market Size & Forecast, 2019-2030 (USD Million)
• USD 51 to 100 — Market Size & Forecast, 2019-2030 (USD Million)
• Above USD 100 — Market Size & Forecast, 2019-2030 (USD Million)

By Sales Channel

• Supermarkets & Hypermarkets — Market Size & Forecast, 2019-2030 (USD Million
• Brand Outlets — Market Size & Forecast, 2019-2030 (USD Million)
• Sports Goods Stores — Market Size & Forecast, 2019-2030 (USD Million)
• Online- Market Size & Forecast, 2019-2030 (USD Million)
• Others

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

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Key Players in the Market

Several key players dominate the Athletic Footwear market, each striving to capture a larger share through product innovation, strategic partnerships, and expansion. Leading players include:

• Adidas AG
• Nike Inc.
• PUMA SE
• ASICS Corporation
• Fila Inc.
• Under Armour Inc.
• Li-Ning Company Limited
• Skechers USA, Inc.
• Others

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