The Athletic Footwear Market is projected to be valued at USD 46.16 billion in 2024. The market is anticipated to report a CAGR of 4.80% for the forecast period to slingshot to USD 73.98 billion by 2034. The sports and fitness products sector is gaining momentum due to rising fashion influence, endorsements, health benefits, and technological improvements.
Consumption Analysis of the Athletic Footwear Market
| Attributes | Details |
|---|---|
| Market Value for 2024 | USD 46.16 billion |
| Market Value for 2034 | USD 73.98 billion |
| Market Forecast CAGR for 2024 to 2034 | 4.80% |
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The demand historically developed at a CAGR of 4.20%. However, sales are slated to increase at a prompter pace, displaying a CAGR of 4.80% from 2024 to 2034.
| Attributes | Details |
|---|---|
| Market Historical CAGR for 2019 to 2023 | 4.20% |
Environmental concerns and government measures are anticipated to impede the growth of the athletic footwear market, as the industry contributes to the pollution of rivers, with brands such as Puma and Adidas labeled as 'Dirty Laundry.' The increasing competition in the sports footwear industry leads to growth plummeting.
Consumers increasingly seek versatile, comfortable footwear for various settings, making it difficult for companies to differentiate themselves and maintain brand loyalty. Consumers are shifting to casual, lifestyle footwear for style and fashion, seeking personalized features, challenging companies to scale and innovate, potentially affecting the market's growth.
Consumers prefer designer athletic shoes that blend sports design with athleisure trends. The increasing popularity of fitness activities compels the global demand for cycling and running footwear. Women, particularly those participating in sports, are buying more athletic footwear. Athleisure influences millennial parents' choices, making athletic footwear for children popular as well.
Consumers Desire Sneakers with Athletic Flare
The demand for sneakers is growing due to the affinity for comfortable, stylish footwear, among consumers.
Popularity of Eco-friendly Footwear Runs with Prompt Pace
Celebrity Endorsement Snowballs the Sales of Athletic Shoes
Consumers' purchasing decisions are influenced by celebrities' and athletes' fashion choices
An in-depth segmental analysis of the athletic footwear market indicates that sports shoes are in significant demand. Similarly, there is an emergent demand for rubber material.
| Attributes | Details |
|---|---|
| Top Product Type | Sports Shoes |
| Market Share in 2024 | 28.3% |
The demand for sports shoes is significant in 2024, predicted to account for a market share of 28.3%. Sports shoes designed for active exercise offer flexibility, stability, and traction, with demand growing due to increased participation in sports tournaments and disciplines such as football, baseball, and hockey.
The emerging health-conscious urban populations, gyms, and sports infrastructure in developing countries compel demand for sports shoes. The growing awareness of health and fitness has led to a surge in physical activity and sports participation, indicating positive demand growth of sports shoes. The development of lightweight options is enticing more consumers to buy sports shoes.
| Attributes | Details |
|---|---|
| Top Material Type | Rubber |
| Market share in 2024 | 26.3% |
The demand for rubber athletic shoes is anticipated to acquire almost 26.3% market share in 2024. Rubber's durability, grippy, waterproof, and lightweight properties have led to its increased use in athletic shoe manufacturing.
Rubber shoes offer shock absorption, protection, and cushioning while giving consideration to strength due to the thickness of their soles. Perhaps this is why the sports consumer base of rubber shoes has been increasingly growing.
Thermoplastic rubber soles in footwear offer flexibility and elasticity with the addition of synthetic rubber supplements, which enhance the durability and water-resistant properties of the soles, leading to increased demand from shoe manufacturers.
The following section explains the demand for athletic footwear in various countries. Spanish and French industries are in line to experience intermediate growth in the upcoming decade. Italy and Japan are also progressing favorably in the sports footwear market.
| Countries | CAGR from 2024 to 2034 |
|---|---|
| Spain | 6.8% |
| Japan | 5.5% |
| Italy | 5.7% |
| India | 5.2% |
| France | 6.5% |
Athletic footwear are mainly designed for games like cricket, hockey, and gymnastics. The material used in the making of these shoes is flexible with rubbery soles.
Indian manufacturers have tailor-made these athletic shoes to fit the different games, thus catching the attention of most youths due to good performance apart from the basic necessity in the gear of the player.
Athletic shoes offer cushioning, flexibility, stability, traction, and durability for various sports, reducing impact force. Market growth in India is predicted due to rising awareness of health benefits from fitness activities. The Indian sector is anticipated to mature at a CAGR of 5.2% through 2034.
Consumer lifestyles, rising disposable income, and Japanese retail e-commerce propel market expansion in sports shoes
Rising fashion trends in branded athletic footwear boost market growth in the Japanese audience, especially among young people. The demand in Japan is foreseen to register a CAGR of 5.5% from 2024 to 2034.
The market expansion of the running shoe industry in Spain is anticipated due to the promotion of advanced running, road running, training, and racing.
Spain is forecasted to accommodate the sports shoes market from 2024 to 2034, with a CAGR of 6.8%. Spanish consumers favor athleisure-inspired designer athletic shoes as suiting their active lifestyles. Increased women's participation in sports and fitness activities in Spain compels demand for attractive, comfortable footwear and benefits the market.
The demand for sport shoes especially cycling and running shoes in the France market is predicting to grow at CAGR of 6%. The market for sports footwear in the country is steadily increasing due to the rising occurrences of sports events such as Tour de France, Paris Marathon and Roland Garros. The French athletic shoes industry is growing progressively because of increasing trend of the participation of youths in sports and various fitness related activities which has been driven by the Health consciousness factor.
The Italian market is projected to grow with a CAGR of 5.7% during the forecast period till 2034. This will be driven by demand from motorsports events and cross-training exercises.
Cross-training exercises refer to strength-building and endurance-increasing exercises like weight lifting, cycling, rowing, and yoga exercises-all these appeal to people of all age groups, thus increasing the demand for athletic shoes in Italy.
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Key athletic footwear manufacturers dominate the global market through successful branding, partnerships, and advertising campaigns.
Progressive shoe brands utilize digital marketing techniques to fulfill the demand for athletic footwear. They offer innovative, customizable products like limited edition sneakers. These brands continuously innovate and enhance their offerings to stay competitive and meet their diverse customer base's needs.
Quality remains paramount, prompting manufacturers to invest in Research and Development for durable sports footwear. Design gains significance as athletic footwear evolves into a fashion statement, driving manufacturers to create stylish and trendy offerings.
Recent Developments in the Athletic Footwear Market
The market is set to be valued at USD 46.16 billion in 2024.
The market is in line to be valued at USD 73.98 billion by 2034.
The market is set to register a CAGR of 4.80% from 2024 to 2034.
Sports shoes are anticipated to acquire a 28.3% market share in 2024.
Nike, Inc., Adidas AG, Puma SE, and Under Armour, Inc. are some of the key companies in the market.
| Expected Market Value in 2024 | USD 7.3 billion |
|---|---|
| Projected Forecast Value in 2034 | USD 12.8 billion |
| Anticipated Growth Rate from 2024 to 2034 | 5.8% |
| Estimated Market Size (2023) | USD 9 billion |
|---|---|
| Projected Market Size (2033) | USD 17 billion |
| CAGR (2023 to 2033) | 6.6% |
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