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The running apparel and footwear market share in US is expected to increase by USD 9.89 billion from 2021 to 2026, at a CAGR of 6.49%.
This running apparel and footwear market in US research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers running apparel and footwear market segmentation in US by end-user (men, women, and children) and distribution channel (offline and online). The running apparel and footwear market in US report also offers information on several market vendors, including adidas AG, ASICS Corp., Authentic Brands Group LLC, Berkshire Hathaway Inc., Columbia Sportswear Co., Deckers Outdoor Corp, Hanesbrands Inc., Karhu Holding BV, Mizuno Corp, New Balance Athletics Inc, Newton Running Co. Inc., Nike Inc, On AG, PUMA SE, Ralph Lauren Corp., Skechers USA Inc., The Gap Inc., Under Armour Inc., VF Corp., and Wolverine World Wide Inc. among others.
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The high-profit margin is notably driving the running apparel and footwear market growth in US, although factors such as high labor cost may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the running apparel and footwear industry in US. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Running Apparel and Footwear Market Driver in US
One of the key factors driving growth in the running apparel and footwear market in US is the high-profit margin. Manufacturers focus on introducing new features in their footwear and making it suitable for sports such as running, tennis, basketball, and soccer. Manufacturers earn high profits from the premium-priced running footwear category. This is because although the manufacturing cost of running footwear is less, it is sold at high prices. The sale of running footwear allows producers and marketers to earn high operating margins as part of their total income. The company had stated that the 2019 operating margin was historically its highest. The higher operating margin for these companies positively impacted sales growth. Good financial performance boosts the sales of running apparel and footwear.
Key Running Apparel and Footwear Market Trend in US
The growing adoption of shoe knitting technology is a running apparel and footwear market trend in US. Manufacturers of running apparel and footwear implement upgraded features in their products, which helps them differentiate themselves from their competitors. The shoe-knitting technology used in running footwear improves durability, flexibility, and convenience, as well as enhances comfort. The use of shoe knitting technology helps in lean management and lowers the need for labor. This can overcome challenges such as increased labor costs and production costs. It is a self-contained process that saves resources with respect to time, capital investment, and energy. This might significantly transform the entire traditional shoe manufacturing process during the forecast period. The adoption of the shoe-knitting technique has the potential to fuel the growth of the US running apparel and footwear market.
Key Running Apparel and Footwear Market Challenge in US
The high labor cost will be a major challenge for the running apparel and footwear market in US during the forecast period. Growing labor cost is one of the prominent operational challenges faced by the domestic and international players in the running apparel and footwear market in the US. The players operating in the US market have manufacturing facilities in multiple countries. Therefore, they experience variations in labor costs in different countries. Asian countries such as China, Indonesia, Bangladesh, and Vietnam have manufacturing contracts with US vendors in the running apparel and footwear market in the US. The international players that are based out of developed countries are now shifting their manufacturing facilities to places where labor cost is low. These factors will have a negative impact on the US running apparel and footwear market growth.
This running apparel and footwear market in US analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the running apparel and footwear market in the US as a part of the global apparel, accessories, and luxury goods market within the textiles, apparel, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the running apparel and footwear market in US during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the running apparel and footwear market in US encompasses successful business strategies deployed by the key vendors. The running apparel and footwear market in US is fragmented and the vendors are deploying growth strategies such as the expansion of stores and outlets, investment in digital e-commerce platforms, and the acquisition of local companies to increase their product portfolios and strengthen their market positions.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The running apparel and footwear market in the US forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the running apparel and footwear market in US, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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The running apparel and footwear market share growth in US by the men segment will be significant during the forecast period. The high consumer spending in the US will drive the demand for running apparel and footwear in the men's segment. The rising demand for smart and convenient running shoes and accessories among men is also propelling the growth of this segment. The ability of high spending power of men on leisure activities in the US and the introduction of multiple brands are expected to drive the growth of the men's segment of the market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the running apparel and footwear market size in US and actionable market insights on the post-COVID-19 impact on each segment.
Running Apparel market - The market share is expected to rise to USD 18.06 billion by 2026, at an accelerating CAGR of 6.08%.
US Online Apparel Footwear and Accessories market - The market share is expected to increase by USD 91.54 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 11.91%.
Running Footwear market - The market will decline by USD 1.16 billion during 2020-2024, and the market’s growth momentum will decelerate at a CAGR of (1.21)%.
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Running Apparel and Footwear Market Scope in US |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 6.49% |
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Market growth 2022-2026 |
$ 9.89 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
7.25 |
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Regional analysis |
US |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
adidas AG, ASICS Corp., Authentic Brands Group LLC, Berkshire Hathaway Inc., Columbia Sportswear Co., Deckers Outdoor Corp, Hanesbrands Inc., Karhu Holding BV, Mizuno Corp, New Balance Athletics Inc, Newton Running Co. Inc., Nike Inc, On AG, PUMA SE, Ralph Lauren Corp., Skechers USA Inc., The Gap Inc., Under Armour Inc., VF Corp., and Wolverine World Wide Inc. |
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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, and Market condition analysis for the forecast period. |
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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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Distribution Channel
7 Customer Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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