With the growing fitness and sports participation around the world, it is no surprise that in 2015 the global value of athletic footwear was estimated at 80 billion US dollars. Giving the rising popularity of leading a healthier and more active lifestyle of people across the globe, it is expected that the demand for athletic footwear and its market will continue growing with about 2% from 2016 up to 2024.
Another reason for the forecasted growth of this specific market is the demand for innovative and comfortable athletic footwear, the development and growth of disposable income, as well as the growing popularity of e-commerce, which has caused shopping to become easier than ever.
More people in the modern world are becoming more aware of the importance of leading a healthier lifestyle, which includes engaging in sports, running and other activities. This required the purchase of suitable and comfortable athletic shoes, clothing and gear.
There is a tendency for a growing demand of lighter and more functional running shoes for men and women globally as well.
Also, the demand for eco-footwear and the various seasonal trends for athletic shoes are also reasons for an expected boost in the sales of athletic footwear in the next years up to 2020.
On the other hand, counterfeit athletic footwear can cause an adverse effect on the overall market for sports shoes, as it can have a negative effect on the image of the world famous brands being imitated.
When analyzed by segments, studies show that the biggest increase in demand and sales is expected in the insert shoe segment, which held the biggest share back in 2015, as compared to hiking shoes, backpacking shoes, and sports shoes. Also, footwear for specific sports has been on a greater demand in the last years. Shoes for soccer, baseball, basketball, tennis, and golf are the ones which have been most commonly purchased by people around the globe.
The market for athletic footwear can also be divided into segments in accordance with the gender and age of the customers. In general, it is segmented in 3: footwear for children, men, and women. The leading segment with about 60% of the share in the market is the men’s footwear segment, followed by 30% by the women’s shoe segment and then the segment for athletic shoes for children. This last segment though is expected to grow as well, due to an increase in the numbers and types of sports facilities and the development of school sports infrastructure as well.
As for store and non-store retail of footwear for sports, the non-store based sales are expected to increase, due to the growing popularity and the ease of use of all e-commerce sites, apps, and channels, as well as the wider range of products which users can easily access online. Many users want to be able to quickly choose their new footwear and more on with their lives. That is the main reason for sites that review footwear such as Fitaholic Gear for sports shoes to become more and more popular. They segment their picks according to the sport, foot type, and gender of the users. This allows users to pick up quickly their favorite among the top-rated models that are sold currently on the market.
As for the geographical segmentation of the market for athletic footwear, Europe has the largest share as compared to the North American and Asia Pacific segments of this market. But the expectations are that there will be an increase in the demand for such footwear by about 8% in the Asia Pacific segment in the next ten years. This is due to an increased interest in fashion and branded footwear in this region, and the growing middle-class population of the Asian Pacific countries, which can afford such footwear.
As for sports shoes, North America holds the largest share, and the same goes for insert shoes as well. Europe is expected to show an increase in the demand for backpacking footwear and insert shoes as well.
There is also data regarding a growing interest and demand for specialized and customized footwear, which has forced the leading manufacturers of athletic footwear to work tirelessly for designing and making better and more specialized footwear.
The leading manufacturers of shoes for athletes across the world are currently: Adidas, Nike, and Asics. In Europe, Asics and Puma are the leaders, while in North America, New Balance, VF Corp, and Sketchers are the brands which are in the biggest demand.
Together, Nike, Adidas, VF Corporation, Asics and New Balance hold 80% of the global market share. Nike and Adidas alone account for 45% and 35% of the global market for athletic footwear. Other globally popular manufacturers are Saucony, Converse, Skechers, Vans, Deckers Outdoor and Wolverine Worldwide.
