Global Athletic Footwear Market was worth of USD 67.5 billion in 2021 and it is expected to reach USD 95.6 billion at the end of 2028 with CAGR of 5.1%. Athletic footwear is designed to meet the natural and perceptual demands of athletes while also enhancing comfort, performance, and injury prevention during sport-specific movements. Functionality in athletic footwear refers to the overall impact a pair of sports shoes has on the wearer while they are doing sport-specific movements and is based on a combination of structural aspects. Athletic shoe comfort may not be the same as a general understanding of comfort in daily life. Certain athletic shoe styles need to be built with sport-specific materials, which can help with performance or injury prevention but may not always feel comfortable in the traditional sense. Sports-specific movement requirements, such as those for alpine skiing, climbing, sprinting, or soccer, force athletes to wear shoes with very small spaces for their feet. These shoes handle the corresponding performance and injury prevention features.
The COVID-19 pandemic has negatively impacted on the athletic footwear market across the world. There is a growing number of order cancellations from international clients who are unable to sell or store products. Moreover, a decrease in consumer demand for athletic footwear was noted by brands like Adidas, Nike, and Puma, as customers reduced or delayed discretionary spending in response to the impacts of COVID-19. The COVID-19 pandemic has destructively affected on the volume of athletic footwear transactions.
|2018 - 2021
|2022 - 2028
|Market Size in 2021:
|USD 67.5 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 95.6 Billion
|Tables, Charts & Figures:
|Athletic Footwear Company
|Asics Corporation, Adidas group, Puma SE, VF Corporation, Nike, Inc., FILA Korea, Ltd., New Balance, Inc., SKECHERS, Inc., K-Swiss, Inc., Wolverine Worldwide, Inc., Reebok International Ltd., Under Armour, Inc., Lotto Sport Italia S.p.A, and others.
|By Consumer, By Distribution Channel
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
An increase in sports activities has augmented across various countries due to peoples are becoming more conscious regarding their health. According to the Bureau of Labor Statistics, 19.3 percent of the U.S. population was engaged in sports and exercise each day in 2019. Running, jogging, and other recreational activities may cause pressure or even harm to the feet. Consumers are increasingly appreciating the importance of using the appropriate type of shoes for sports activities to prevent muscle injuries, leg injuries, and others. To provide unique products to the users, various players are investing in athletic footwear. For example, in January 2022, the Tata Cliq brand debuted Tata Cliq Luxury, a new line of running shoes, sneakers, and slip-ons. In March 2022, the Lululemon athletic brand launched its first Blissfeel running shoe and plans to launch Chargefeel low workout and Charefeel mid workout shoes. As a result, the participation of several people in the sports and other activities have led the importance of athletic footwear among market players. To align with this, numerous players in the market are investing in the product to stay competitive and this in turn heighten the market size for athletic footwear.
Huge adoption of athletic footwear has led many businesses to invest millions of cash in the market. Asics Corporation, Adidas Group, Puma SE, VF Corporation, Nike, Inc., FILA Korea, Ltd., New Balance Inc., and many other businesses are contributing to deepening their roots in this sector by executing organic strategies. For example, in March 2022, ASICS launched the GEL-NIMBUS 24 running shoe, offering the most advanced impact protection yet through the introduction of a new type of ASICS technology. It provides new and improved underfoot comfort. The GEL-NIMBUS 24 shoe is the first GEL-NIMBUS iteration to feature FF BLAST PLUS technology. It is the same as its predecessor, but with a more energetic toe-off and a softer landing in every step. Additionally, in 2020, PUMA launched the Faster Football movement with the unveiling of the next generation ULTRA 1.3. Apart from this, the companies are also implementing inorganic strategies. For example, sportswear brand adidas has come on board as the official performance footwear partner for the Indian contingent at the 22nd Commonwealth Games (CWG) 2022 in Birmingham, England. All such business strategies are heightening the sales of the athletic footwear market across the world. And it is estimated that ongoing investments and innovative technological advancements in the market will generate plethora of the opportunity in the global athletic market in the future.
North America has accounted the hishest market share in the athletic footwear market. This is due to large number of participations in the sports events, running and other activities across the region. With ongoing technological advancement across the region, Europe is the second-dominating region in the athletic footwear market.
Analyst Comment, “Presence of major industry participants and growing participation in sports and other activities are generating lucrative opportunities for the athletic footwear market worldwide.”
Sneakers have become more popular and given rise to minimalist sneaker movement
Minimalist sneakers providing minimal interference with the natural movement of the foot due to high flexibility, low heel to toe drop and the absence of motion control. Sneaker also called as trainers, athletic shoes, tennis shoes, gym shoes, kicks, sport shoes and running shoes primarily designed for sports or other forms of physical exercise, but which are now widely used for everyday casual wear too. According to the reports, sneaker sales is increased rapidly by around 20% in 2021 compared to 2020. Minimalist running shoes strip running back to basics, giving athletics the feeling of comfort ness in which feet is moving naturally and freely throughout the run. Minimalist shoes contain from a sole with less cushioning, letting customer feet feel a closer connection with the ground.
Minimalist footwear has less cushioning to absorb impact, runners who wear them tend to incline on their foot strength and muscle tissue. For example, it is reported that wearing minimalist footwear for six months increased foot strength by around 60%. The list of some top selling athletic sneakers in 2021 are as follows Nike Air Max 270, Nike Air Force 1 ’07 Low, Nike Air Max Excee, Nike Air Max 90, Nike Revolution 5, Jordan I Mid, Adidas NMD R1, Brooks Adrenaline GTS 21 and Nike Court Vision Low.
Personalization gives the consumer opportunity to have specifically designed footwear
Online shopping gives the consumer the ability to find things that they might not be able to available in the core market. Therefore, customers can get easy access to everything they want even if its not in the market. For example, sketchers and converse brands have both entered the personalization trend, as personalization made even better with an interactive website interface that is consumer-friendly and simple. Footwear brands need to maintain social responsibility, as shoppers are more eco conscious now which ultimately plays an important role in the rise of personalization. Brands are aware about the fact that consumer’s behavior has changed a lot in the last couple of years in terms of conscious shopping.
Automation in the footwear is a trending factor in athletic footwear market
Athletic footwear production heavily depends upon handcrafted shoes are valued at a higher rate. However, to cut down lengthy time to make footwear, brands are using specialized machinery where mass production of technical shoe manufacturing has begun witnessing highly automated lines. The US Census Bureau reported that robots have replaced around 5 million workers in the US alone in 2020. For example, brands like Adidas have already set up a full automated factory in Ansbach, Germany. In addition, Nike has invested in a tech startup called Grabit that uses electro adhesion and has been adding machines in the factories that can work 20 times faster than human workers. Brands in this industry are expected to generate half of its sales from products made using automated manufacturing process, which will also make them perform inventory more quickly to keep up with the demand. The company has already opened speed factories that uses intelligent robotic technology to manufacture shoes.
All these factors in the athletic footwear market are informing better practices for company’s future directions.
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