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The report includes a comprehensive outlook on the market offering forecasts for the industry segmented by Distribution Channel, which comprises offline and online. Additionally, it categorizes End-user into men, women, and kids and covers Region, including North America, APAC, Europe, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments. The report covers market trends and analysis also includes an in-depth analysis of increasing premiumization due to the introduction of more innovative sneakers, the use of environment-friendly materials to manufacture chunky sneakers, and use of environment-friendly materials to manufacture chunky sneakers.
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Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Adidas AG - The company offers chunky sneakers such as Nizza Platform shoes, OZWEEGO shoes, OZMILLEN shoes, and Hyperturf shoes.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including Adidas AG, ASOS Plc, BESTSELLER AS, Capri Holdings Ltd., ECCO Sko AS, FILA Holdings Corp., Hanesbrands Inc., Industria de Diseno Textil SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Mirza International Ltd, Mizuno Corp, New Balance Athletics Inc., Nike Inc., Prada S.p.A, PUMA SE, Skechers USA Inc., Under Armour Inc., VF Corp., and Wolverine World Wide Inc.
Qualitative and quantitative analysis of market growth and trends of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, market growth and forecasting it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Increasing premiumization due to the introduction of more innovative sneakers is notably driving the market growth. Innovation plays a vital role in the market. Advanced technical fabrication, innovative design, and product development allow market vendors to position their chunky sneakers as premium-priced products. Key market competitors such as Nike Inc., Adidas AG, New Balance Athletics Inc., Puma SE, Skechers USA Inc., and Under Armour Inc. are known for their innovative product offerings. For instance, Nike Inc. is one of the leading manufacturers of sneakers and offers a wide variety of sneakers that are equipped with new technologies for specific sports.
Furthermore, the company offers footwear for basketball, football, baseball, and other sports, which is incorporated with technologies such as Nike Air, Lunar, Zoom Free, Flyknit, Nike Go FlyEase, and NIKE+. Jordan, under Nike Inc., offers sneakers for basketball and other training. Therefore, such factors are expected to have a positive impact on the profit margins of market competitors, which, in turn, is expected to boost the growth of the market during the forecast period.
The use of environment-friendly materials to manufacture chunky sneakers is an emerging trend shaping the market growth. The market is expected to witness increased demand for the use of eco-friendly raw materials in manufacturing processes. In the past 5-7 years, a recycled form of polyester, eco-friendly rubber (often made by the incorporation of more benign accelerators and vegetable oils), Eva Foam, organic cotton, and synthetic leather are some of the materials that are preferred by the market vendors while manufacturing chunky sneakers. Moreover, the key competitors are increasingly focusing on manufacturing products that can reduce negative effects on the environment to cater to customer's demands.
For instance, Adidas AG has developed a strategy to reduce the environmental impact of its products by contributing to water conservation and sustainability. Similarly, many other competitors have started manufacturing footwear, including chunky sneakers, using eco-friendly materials. Thus, these factors are expected to fuel the growth of the market during the forecast period.
Volatility in raw material prices is a significant challenge hindering the market growth. In recent times, chunky sneaker manufacturers like Nike Inc., Adidas AG, and Puma SE have been experiencing fluctuations in their profit margins. This is mainly attributed to the fluctuations in the prices of raw materials and increasing competition among market vendors. As the fixed costs are low, an influx of local players into the market has been observed in recent times. The emergence of local players leads to price wars among competitors. Moreover, transportation costs are also increasing and contributing to lower profit margins for market vendors. Thus, the continuous change in profit margins of market competitors acts as a major challenge to the growth of the market.
However, raw material price fluctuations make manufacturers unable to anticipate their investments or control costs. Moreover, cost-driven end-users prefer to buy low-cost footwear rather than invest in global brands, which reduces the sales potential and revenue of vendors operating in the market. Thus, such factors are expected to hinder the growth of the market during the forecast period.
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The market share growth by the offline segment will be significant during the forecast period. This segment comprises physical stores and retail outlets where consumers can purchase sneakers directly. While online shopping has gained popularity, the traditional method of shopping in physical stores still accounts for a significant market share, providing consumers with an immersive and interactive shopping experience. The offline segment has continued to evolve in line with new trends emerging in the market. The offline segment was the largest and was valued at USD 28.88 billion in 2018. The offline segment also provides consumers with an opportunity to engage with a brand on a personal level. For example, chunky sneaker enthusiasts often enjoy in-store shopping as it allows them to interact with store personnel who share the same passion for sneakers. Physical stores offer an opportunity to assess the quality of the product in person and try it on before making a purchase. Thus, the above-mentioned factors are expected to propel the adoption of the offline channel, which will drive the growth of the market during the forecast period.
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Based on the end-user, the market has been segmented into men, women, and kids. The men segment will account for the largest share of this segment.?
North America is estimated to contribute 33% during the forecast period.
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The chunky sneakers industry in North America is expanding rapidly due to a convergence of fashion trends, consumer preferences, and lifestyle choices. With a growing emphasis on athleisure, comfort, and nostalgia, chunky trainers have become a fashion statement among people of all age groups. The chunky sneaker market in North America is powered by a thriving sneaker culture in which customers seek out innovative designs that combine practicality with strong aesthetics. Influencers and celebrities who embrace this style help to fuel its growth.
Furthermore, demand is being boosted by the growing popularity of casual and sporting footwear for everyday wear. Innovative designs, bold hues, and partnerships with fashion superstars all add to the vibrancy of the regional market. As customers prioritize both design and comfort, the market in North America is expected to grow further during the forecast period, owing to a mix of fashion-forward thinking and the enduring popularity of retro-inspired footwear. Such factors are expected to drive the regional market growth during the forecast period.
Chunky Sneaker Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2023 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.3% |
Market Growth 2024-2028 |
USD 13.30 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.0 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 33% |
Key consumer countries |
US, China, UK, Germany, and France |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Adidas AG, ASOS Plc, BESTSELLER AS, Capri Holdings Ltd., ECCO Sko AS, FILA Holdings Corp., Hanesbrands Inc., Industria de Diseno Textil SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Mirza International Ltd, Mizuno Corp, New Balance Athletics Inc., Nike Inc., Prada S.p.A, PUMA SE, Skechers USA Inc., Under Armour Inc., VF Corp., and Wolverine World Wide Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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