The global athletic footwear market is expected to witness significant demand over the forecast period. Global athletic footwear demand is expected to witness a steady growth on account of increasing standard of living in urban areas. Athletic footwear is designed for sports and physical activities. These products are made up of synthetic material, rubber or leather. Athletic shoes have evolved over time with more safety and comfort design being offered to the consumers. Nowadays, various footwear is designed for different type of sports activities.
Athletic footwear in professional sports is a major application driving the overall demand. Almost all the field and adventure sports require footwear that suits the style of activity. Most the companies have products that cater to various field events and endorse a brand ambassador to further promote their brand.
Increasing standard of living in urban areas has been another factor driving the overall market. Hectic lifestyle has made consumers undertake various physical activities to keep themselves healthy which in turn has propelled the demand for sneakers. Further, these products have been lately a symbol of style and have been an integral part of fashion accessories. Consumers have developed a tendency of buying these products which are endorsed by their favorite brand endorsers.
Counterfeit products have been pulling the market down and offer a great challenge for the overall market growth. These products available in the gray market are low in quality and hamper the reputation of the manufacturers. Adventure sports have been lately providing great opportunities in fuelling the market demand. Manufacturers are focusing on developing robust footwear especially for these adventure sports activities which are capable of withstanding extreme temperatures, and different geographical terrain.
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Online retail has provided new avenues for the market wherein the manufacturers have been able to decrease the presence of counterfeit products and also reduce expenditures associated with physical retail outlets. Market segmentation is done on the basis of raw material used which includes synthetic material, rubber or leather. Further on the basis of application this footwear can be classified as inert, sports or cross training and hiking & backpacking. Sport or cross training accounts for maximum segment share owing to its high usage in soccer, baseball, tennis, cricket, and basketball. Segmentation demand is followed by inert shoes which are mostly used for aerobics, running and personal exercise and drills.
North America has been the leading market in recent years in terms of demand and is expected to continue its dominance owing to the popularity of basketball, baseball and track and field events. The tendency of consumers to undertake physical activities has helped in propelling the demand, especially in the U.S. Further, regional demand is followed by Asia Pacific mainly on account of increasing disposable income among the urban population. Countries including India, China, and South Korea have witnessed a significant growth on account of government initiatives to promote sports event. Europe is expected to show a steady growth over the forecast period mainly due to the popularity of soccer.
Major players operating in the market are Adidas, Nike, and Puma. Other major players present in the market are Fila, K-Swiss, Converse, Reebok, Skechers, Brooks, Dunlop, Keds, and Lescon. Marketing plays a key role in propelling the demand for this athletic footwear. In the 1990’s Nike launched a special brand of shoes for basketball enthusiasts. The brand (Air Jordan) was named after the famous basketball player Micheal Jordan. These products have been of great success and are still evolving as of today.
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