The global sports shoes market size is expected to reach USD 25.3 billion by
2025, according to a new report by Grand View Research, Inc., expanding at a
CAGR of 4.2% over the forecast period. The market is expected to witness
significant growth owing to growing popularity of sports activities across the
globe.
Men’s sports shoe dominated the global
market and is expected to maintain its lead over the forecast period.
Increasing popularity of outdoor games such as soccer and American football is
expected to increase the demand for sports shoe over the forecast period.
Sports clubs are spreading awareness among people by conducting events at
various places across the world, which will have a positive impact on the
market growth. For instance, in 2017, the National Football League (NFL) had
organized four game events in London and around 84,500 fans came to watch the
match between Jacksonville Jaguars and Baltimore Ravens at Wembley Stadium.
In 2018, the offline retail channel segment
dominated the market, accounting for more than 80% share of the overall
revenue. Increasing penetration of retail outlets in developing countries is
one of the main factors driving the segment over the forecast period. For
instance, in 2018, American multinational company, New Balance Inc., opened a
new retail outlet in Riyadh to expand in Middle East.
Moreover, due to increasing awareness
related to health and supportive government initiatives, many multinational
companies are focusing on India and China to expand their reach in the market.
For instance, the Khelo India program has been introduced to revive the sports
culture in India at the grassroots level by building a strong framework for all
the sports played in the country and establish India as a great sporting
nation. Such initiatives are expected to have a positive impact on the market
growth.
Asia Pacific is expected to expand at
fastest CAGR of 5.2% over the forecast period. Increasing sports participation
in India and China, growing spending power of consumers, and rising health
awareness in the region are expected to have a positive impact on the growth of
the market. Central and South America is expected to witness significant growth
owing to growing popularity of football, American Football, and rugby.
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https://www.grandviewresearch.com/industry-analysis/sports-shoes-market
Further key findings from the study suggest:
· By gender, the kids segment is projected to
expand at a CAGR of 5.0% over the forecast period
· The offline retail channel segment
dominated the global sports shoe market with an overall revenue share of 83.4%
in 2018
· The kids segment in U.S. was valued at USD
607.6 million in 2018 and is projected to witness significant growth in the
next few years
· North America was one of the prominent
regional markets in 2018 and is expected to exhibit significant growth owing to
increasing popularity of field sports at the national and international levels
· The industry is highly competitive in
nature due to presence of the main players including Nike, Inc.; Adidas Group;
and Puma SE
· Various manufacturers are concentrating on
new product launches and product innovation to expand their consumer base.
Grand View Research has segmented the
global sports shoe market on the basis of gender, retail channel, and region:
Sports Shoe Gender Outlook (Revenue, USD
Million, 2015 - 2025)
·
Men
·
Women
·
Kids
Sports Shoe Retail Channel Outlook
(Revenue, USD Million, 2015 - 2025)
·
Offline
·
Online
Sports Shoe Regional Outlook (Revenue,
USD Million, 2015 - 2025)
·
North America
o
U.S.
·
Europe
o
Germany
·
Asia Pacific
o
China
·
Central & South America
o
Brazil
·
Middle East & Africa
o
South Africa
About Grand View
Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports,
customized research reports, and consulting services. To help clients make informed
business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
