The refurbished running shoes market is anticipated to flourish at a steady CAGR of 8.5% between 2023 and 2033. The market is expected to hold a market share of USD 838.9 million by 2033 while the market is likely to reach a value of USD 371.0 million in 2023.
There are many people who might not be able to pay the price of brand-new shoes. As a result, many consumers search for inexpensive substitutes such as second-hand shoes and reconditioned running shoes. Refurbished running shoe refers to shoes that have been fixed or recertified for sale.
Depending on the company, these shoes might differ. For instance, refurbished running shoes might have simply been unsealed, taken back to the maker or retailer for a malfunction, and then sold once again. Thus these are offered at a discounted or reduced costs compared to brand-new goods creating a huge demand for refurbished running shoes all over the world in the current years.
The majority of refurbished goods include verified and ensured alternatives. These items are certified when they successfully complete the quality inspection procedure and seem and perform similarly to new products. Such factors are anticipated to encourage customers to trust the items and invariably augment the sales of refurbished running shoes in the coming days.
| Attributes | Details |
|---|---|
| Refurbished Running Shoes Market CAGR (2023 to 2033) | 8.5% |
| Refurbished Running Shoes Market Size (2023) | USD 371.0 million |
| Refurbished Running Shoes Market Size (2033) | USD 838.9 million |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
As per the new market research report on refurbished running shoes by FMI, the CAGR of the said market has improved considerably from 7.6% observed during the years between 2018 and 2022. People have cut their spending because of the epidemic and are just trying to meet their urgent needs. For them, refurbished running shoe is the best option since it offers comparable quality to that of a new product at a less cost.
Consumers all across the world are also adhering to the notion of reuse to decrease waste as a result of climate change and other natural disasters plaguing our globe. Further, refurbished items are not the only solution to the problem, but they are a type of resource utilization that significantly eases the burden on the environment. Such developments are projected to boost the refurbished running shoes market trends over the forecast time period.
Purchasing power of people has expanded as a result of rising disposable income and growing population, which encourages them to invest more on goods that make their lives convenient and comfortable. Thus growing popularity of outdoor sports and leisure activities among customers may be another driver in the expansion of the refurbished running shoes industry.
Like the market for brand-new wear, the refurbished running shoes market also provides appealing discounts, doorstep delivery options, no-cost EMIs, warranties, demo choices, and buyback alternatives. Such choices make consumers' life easier since businesses handle every step of the process, which also promotes brand loyalty and demand for refurbished running shoes.
Principal Consultant
A product that has been purchased and unsealed may no longer be marketed as new and must instead be marketed as refurbished in most countries. Thus in some countries, particularly in developed ones, with customers high average incomes might not get attracted to such items which could limit the refurbished running shoe market growth in these regions.
Rising raw material costs as well as worries about the environmental impact of synthetic rubber have become an important obstacle for some categories of refurbished running shoes to certain degrees.
| Countries | Revenue Share % (2022) |
|---|---|
| The United States | 28.6% |
| Germany | 5.1% |
| Japan | 3.9% |
| Australia | 1.8% |
| North America | 32.4% |
| Europe | 19.4% |
| Countries | CAGR % (2023 to 2033) |
|---|---|
| China | 10.4% |
| India | 11.3% |
| The United Kingdom | 7.8% |
In recent years, there has been a remarkable increase in the refurbished running shoes market trends in the countries of Europe taking the total contribution of the region up to 16.2%.
The Asia pacific region is the significantly growing region in terms of sales of refurbished running shoes as observed according the recent trends figured by FMI.
According to the survey, the Asia Pacific area has a significant customer base and a quickly expanding refurbished goods business, making it one of the top marketplaces for refurbished running shoes. Moreover, the domestic sports product sector is being developed by nations like India, China, and other South and South East Asian Countries which is helping to fuel the region's refurbished running shoes market as well.
As per the refurbished running shoes market statistics report by FMI, North America region accounted for almost 32.4% of the total sales of the product achieved globally in 2022.
North America is predicted to lead the global market for both running shoes and refurbished running shoe, due to an increase in outdoor and recreation activities in the United States and Canada. Further, the increasing number of immigrants in the United States of America is the main customers of the market as pointed out by the refurbished running shoes market survey report by FMI.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The market for refurbished running shoes is figured out to be the key segment in present years and is anticipated to expand at the quick rate throughout the predicted period. Further, the segment held a market share of 43.1% in 2022. These shoes are popular among consumers for use on all types of runners.
Beginners choose shoes because they are light and have an excellent grip on the ground. The little paddling keeps the runners' feet secure while giving them a close connection to the ground.
Refurbished running shoes are also predicted to experience a significant increase over the anticipated timeframe. Customers who love to run on hiking paths really favor these shoes. These shoes may be worn on a variety of terrains thanks to their durable construction and improved underfoot protection.
Traditionally sports apparel products have remained the mainstay of offline retail stores that also traded in refurbished products. However, over these recent years, with the proliferation of online retail shops, it has turned to be the most preferred option for buying refurbished running shoes and other items as well. This segment is the significantly growing category that also promises of a huge growth opportunity over the forecast years as well.
According to the emerging trends in the refurbished running shoes market, young people don't seem to mind buying 'slightly dirty' things as long as they come with a solid guarantee and warranty period. Additionally, it appears that the refurbished running shoes business is about to reach its pinnacle both in India and worldwide in the approaching years due to refurbished items' promotion of green standards.
Previously refurbished shoes and refurbished running shoes were exclusively in style in the nations of Africa and Asia but they are now widely available in charity stores and branded retail outlets as well throughout the world. In the United States, the refurbished running shoes business is estimated to worth nearly USD 85 million to USD 100 million in the current years and the figures for the sales of used shoes are even significantly great.
There are several companies and even key players are adopting sales of refurbished running shoes, gears, and other apparels for cheap. According to leading vendors and product distributors, refurbished items are reconditioned to enhance their performance and quality to the same standards as new products. They also imply that refurbished running shoes are just as dependable and secure as brand-new ones. Thus, those who lack the funds to buy the desired goods are increasingly turning to remanufactured goods to meet their demands.
The fact that so many prestigious corporations and premium brands are embracing the second-hand movement, it has turned out to be one of the key factors contributing to the constant growth of the refurbished running shoes market worldwide. Giants like Stella McCartney, Richemont, and LVMH have demonstrated their commitment for sustainability by collecting pre-owned shoes and remarketing it after 4 refurbishments.
Numerous companies have begun providing a return option so that customers may quickly switch out a product if they find it hard to keep up with an outdated one. Consequently, it is anticipated that the market for reconditioned running shoes items might grow in the upcoming years by the constant effort of sports brand companies. For instance,
Amazon India offers a unique subsection for things that have been previously owned. The top online retailer in India has partnered with surpluss.in, an e-retail store that offers reconditioned items from top brands.
Other prominent refurbished running shoes market participants are focusing on introducing shoes with enhanced features. They take the essential actions to increase product accuracy and overall functionality. For instance,
Nike has introduced the largest technical innovation in footwear. A pressure sensor-equipped self-lacing Hyper Adapt 1.0 shoe detects when the foot is within the shoe and activates software to enable automated lacing.
Opening a business for selling repurposed goods may be financially rewarding while also having a positive social impact and providing an excellent approach to minimize wastage. There are three essential stages to starting a reconditioned business such as collaborating with manufacturers and merchants to find equipment and items with minor flaws, restoring them and selling the refurbished running shoes with the required certifications and warranties online and/or offline at a discount.
Their ongoing commitment to sustainability is anticipated to only open the door for many refurbished running shoes businesses to follow. This might result in the global market for growing further over the forecast years, as well as the global market for used shoes. While recycling must also be remembered, the selling of secondhand products is necessary. We need to develop alternate ways to resell items as not all of them can be restored thus.
Recent Updates from the Industry
The overall market is expected to progress with a CAGR of 8.5% until 2033.
The global market size is forecasted to be near USD 838.9 million by 2033.
India is expected to record a CAGR of 11.3% until 2033.
The demand for refurbished running shoes surged at 7.6% CAGR from 2018 to 2022.
The over pronator refurbished running shoes segment held almost 43.1% of share in 2022.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Shoe Type 5.1. Over Pronator 5.2. Neutral Pronator 5.3. Supinator 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Male 6.2. Female 6.3. Unisex 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Online 7.2. Offline 7.3. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Reebok 18.2. Nike, Inc. 18.3. PUMA SE 18.4. Greensole Inc. 18.5. Etsy 18.6. Skechers India 18.7. RELAY 18.8. Adidas AG 18.9. Chuck Taylor All Stars 18.10. Vans 18.11. Danner 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Consumer Product Insights
View Reports
Refurbished Running Shoes Market
