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Global Sports Footwear Market Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022
Fact.MR
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Evolution of athletic shoes technology has led to a significant transformation in the design, and functions of the sports footwear. Besides providing protection to the users during the athletic, fitness and sports activities, the sports footwear is equipped with enhanced technological features that boost the performance of the end users. As demand for smart sports shoes continue to increase among the athletes, fitness professionals, and sportsmen, manufacturers in the sports industry are mainly focusing on integrating enhanced technology that helps in boosting performance. Running, basketball, gym, soccer, golf, and ice-hockey are a few sports, and fitness activities continue to inspire the youth population for participating in the sports and fitness activities. Bound to these factors, the global sports footwear market is expected to witness a significant growth in the upcoming years.
According to a recently compiled report, the global sports footwear market is expected to represent a value of over US$ 115,000 Mn by the end of 2022.
Equipped with aerodynamic technology, the sports footwear allows the sportsmen and athletes to boost their performance. Integrated with advanced technology, the sports technology allows the athletes to jump higher, run faster, and boost strength. The smart sports footwear are also equipped with cushions that are meant to provide comfort to the sportsmen and athletes. Attributed to these trends, and activity specific smart footwear, manufacturers are designing, and embedding activity specific technologies in the sports footwear products. Surge in demand for tracking the fitness regime, and the heart rate has led several manufacturers to integrate technologies including fitness trackers, and heart rate monitors in the sports footwear for the fitness professionals.
Besides the sports and fitness industry, several diabetic patients are suggested to wear sports shoes that are equipped with fitness tracking features. Through the fitness tracking accessories, the diabetic patients can conveniently track the heart rate, and blood and sugar level while performing routine activities. Considerable demand among the diabetic patients is expected to contribute towards growth of the global market positively.
In order to keep a track of the fitness regime, and monitor the heart rate, the end users including sportsmen and fitness professionals are required to wear the smart sports footwear, and such sports related accessories all the time. However, as communication with the wearable technologies generate harmful radiation, the health of the end users can be effected negatively. Bound to such factors, sales of the sports footwear is likely to witness a drop in growth during the forecast period.
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Modern Trade to Represent a Leading Segment
With increasing demand to remain fit, sales for the gym shoes will continue to rev up globally. The training & gym products as compares to other sports footwear products is expected to witness the highest revenue growth, representing a value of over US$ 6,000 Mn by the end of 2022. However, running sports footwear is expected to register the highest CAGR in the global market throughout 2022.
The men segment as compared to other end users is expected to generate significant revenues, recording a value of over US$ 9,000 Mn by the end of 2017. However, the unisex segment is expected to register a robust CAGR in the global market throughout 2022.
Sales of sports footwear through the modern trade sales channel is expected to remain high, accounting for a value of over US$ 7,000 Mn by the end of 2022. However, the third party online channel is expected to register the highest CAGR as compared to other sales channel during the forecast period.
Competition Tracking
Leading market players operating in the global sports footwear market include Nike, Inc, Adidas AG, Under Armour, Puma SE, Skechers USA, New Balance, Asics, Brooks, Yonex, and Fila Korea.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Sports Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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