Athletic Footwear Market Size is set to Grow at a Remarkable Pace in the Coming Years

Athletic Footwear Market report, published by Allied Market Research, forecasts that the ****** market is expected to garner $114.8 billion by 2022, growing at a CAGR of 2.1% during the period 2016 – 2022. Asia-Pacific accounted for the highest revenue in 2015, followed by Europe.

The segmentation by type includes sports shoes, running & walking shoes, hiking & backpacking shoes, and aerobic & gym wear shoes. Running & walking shoes accounted for the maximum market share of 40.7% in 2015, due to their widespread adoption as daily wear shoes by consumers, worldwide. North America exhibited the highest penetration of aerobic and gym wear shoes in 2015, owing to consumer’s involvement in gym and dance classes in countries such as the U.S. and Canada. Within the sport shoes category, soccer accounted for the momentous market share of 28.5% in 2015, due to growing popularity of the sport across the globe.

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Asia-Pacific would lead the market throughout the analysis period, followed by Europe. The market in APAC is expected to witness the highest growth driven by the increasing disposable income, rising health awareness, and increasing demand for fashion footwear.

Key Findings of Athletic Footwear Market:

  • Asia-Pacific is a lucrative market in terms of growth on account of increasing disposable income, rising health awareness, and increasing demand for fashionable athletic footwear
  • Men segment is the highest revenue-generating segment in the ****** athletic footwear market followed by the women segment
  • Tennis shoes are expected to be the fastest moving shoes segment within the sport shoes market, followed by soccer shoes

Product launches, joint ventures, partnerships, and acquisitions and mergers have been the key growth strategies used by existing market players to increase their business and market share. The key companies profiled include Asics Corporation, Adidas AG and Puma SE, VF Corporation, Nike, Inc., FILA, Inc., New Balance, Inc., Skechers Inc., K-Swiss, and Wolverine World Wide, Inc.

TOP WINNING STRATEGIES FOR ATHLETIC FOOTWEAR MARKET

Market players strive continuously to gain a competitive advantage over their competitors and build a stronger base for themselves. Product launch, acquisitions, and mergers have been the prominent strategies implemented by key players to increase their footprints in the ****** market. Certain companies’ implemented acquisition to undertake the manufacturing facilities and distribution channels of the acquired company to spin profits or expand ****** presence. Prominent players, such as Nike, Adidas, and Asics Corporation, have regularly launched new products in the market. The continuous variety addition to their product portfolio helps attract consumers with their innovative design and features. Players also used joint ventures and partnerships to increase their consumer base or product portfolio.

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ATHLETIC FOOTWEAR MARKET KEY SEGMENTS

By Product Types

  • Sports shoes
    • Tennis Shoes
    • Soccer Shoes
    • Basketball Shoes
    • Cricket Shoes
    • Others
  • Running and walking shoes
  • Hiking and backpacking shoes
  • Aerobic and gym wear shoes

By User

  • Men
  • Women
  • Kids

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

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