Running Gear Market by Product and Geography - Forecast and Analysis 2021-2025
- Published: Jan 2022
- Pages: 120
- SKU: IRTNTR44727
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The running gear market share is expected to increase by USD 10.25 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.42%.
This running gear market 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 gear market segmentation by product (running footwear, running apparel, and others) and geography (APAC, Europe, North America, South America, and MEA). The running gear market report also offers information on several market vendors, including Adidas AG, ANTA Sports Products Ltd., ASICS Corp., Columbia Sportswear Co., New Balance Athletics Inc., Nike Inc., PUMA SE, Skechers USA Inc., Under Armour Inc., and VF Corp. among others.
What will the Running Gear Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the Running Gear Market Size for the Forecast Period and Other Important Statistics
Running Gear Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing number of anti-sweatshop campaigns is notably driving the running gear market growth, although factors such as increasing raw material cost impacting pricing strategy 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 gear industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Running Gear Market Driver
The increasing number of anti-sweatshop campaigns is one of the key drivers supporting the running gear market growth. The growth of online stores is expected to escalate rapidly during the forecast period due to Internet penetration and a growing number of smartphone users. Competitive prices, convenience, heavy discounts, COD options, and fast-delivery services are some of the factors attracting consumers to shop online. Moreover, this also results in an increase in sales through the online channel. In addition, increasing internet penetration in developing economies is a positive indicator of growing online sales during the forecast period. This will also help the global running gear market grow during the forecast period
Key Running Gear Market Trend
Customization and personalization of running footwear and apparel is another factor supporting the running gear market growth. The customization facility allows consumers to choose their own designs, styles, and colors to get custom-made running footwear.
For instance, Nike's running shoe named Nike Air Zoom Pegasus 34 GPX Id Running Shoe can be easily customized and personalized by a buyer. The parts of the running shoe, which can be customized, include the company's logo, as well as the shoe uppers, lining, midsole, topline midsole, laces, and outsole. In addition, the buyers can also personalize products by incorporating their desired text and graphics on the running shoe. This trend may help in the significant growth of the market during the forecast period. The vendors are emphasizing such strategies to build a wider consumer base.
Key Running Gear Market Challenge
The increasing raw material cost impacting pricing strategy is hindering the running gear market growth. Ethylene-vinyl acetate (EVA), which is an elastomeric polymer, is the raw material used in the production of soles of sports footwear, including running footwear. Fluctuations in the price of this material have a direct impact on the prices of running footwear and other specific sports footwear. This further leads the vendors to increase the prices of their products. This chain of increasing costs impacts the pricing strategy of vendors, having a detrimental effect on the cash flow of the players in the running gear market. The slimming of profit margins makes spending their earnings on other activities or marketing campaigns difficult for the vendors to due to fluctuations in raw material costs. This may limit the market's growth during the forecast period.
This running gear market 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 2021-2025.
Parent Market Analysis
Technavio categorizes the running gear market as a part of the global apparel, accessories, 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 gear market during the forecast period.
Who are the Major Running Gear Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Adidas AG
- ANTA Sports Products Ltd.
- ASICS Corp.
- Columbia Sportswear Co.
- New Balance Athletics Inc.
- Nike Inc.
- PUMA SE
- Skechers USA Inc.
- Under Armour Inc.
- VF Corp.
This statistical study of the running gear market encompasses successful business strategies deployed by the key vendors. The running gear market is fragmented and the vendors are deploying growth strategies such as innovations, price, and product quality to compete in the market.
Product Insights and News
- PUMA SE - The company offers running gears that includes running shorts, running shoes and training shorts which are constructed from high-tech fabric with innovative body temperature regulation, under the brand name of PUMA.
To make the most of the opportunities and recover from 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 gear market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Running Gear Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the running gear market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains 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.
The value chain of the apparel, accessories, and luxury goods market includes the following core components:
- Inbound logistics
- Outbound logistics
- Marketing and sales
- Support activities
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Running Gear Market?
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35% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for running gear market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing awareness of the benefits of running and other physical activities will facilitate the running gear market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The market in the region witnessed certain challenges due to the COVID-19 pandemic in 2020. India, China, and Pakistan are some of the countries in the region that have been badly affected by the pandemic. For instance, as of December 23, 2021, the total number of recorded COVID 19 cases in India was 34.6 million, with 4.78 million associated deaths. However, with government-imposed restrictions lifted in the fourth quarter of 2021 because of the initiation of vaccination drives and people returning to their normal lives, outdoor activities and sporting events across countries are again being held. Considering these factors, the global running gear market is expected to grow during the forecast period.
What are the Revenue-generating Product Segments in the Running Gear Market?
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The running gear market share growth by the running footwear segment will be significant during the forecast period. Running footwear refers to shoes that are designed for outdoor activities, such as athletics and workouts. The new running shoe uses the innovative GUIDESOLE technology, which is designed to reduce energy loss and give that feeling of effortless running. Also, it has an ergonomic, precision-shaped curved sole, which works by limiting the movement of the ankle joint, an area that expends the most amount of energy. The launch of such innovative products with added features can lead to the growth of the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the running gear market size and actionable market insights on post COVID-19 impact on each segment.
Running Gear Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 5.42%
Market growth 2021-2025
$ 10.25 billion
YoY growth (%)
APAC, Europe, North America, South America, and MEA
Performing market contribution
APAC at 35%
Key consumer countries
US, China, UK, Germany, and Japan
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
adidas AG, ANTA Sports Products Ltd., ASICS Corp., Columbia Sportswear Co., New Balance Athletics Inc., Nike Inc., PUMA SE, Skechers USA Inc., Under Armour Inc., and VF Corp.
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
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this Running Gear Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive running gear market growth during the next five years
- Precise estimation of the running gear market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the running gear industry across APAC, Europe, North America, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of running gear market vendors
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1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
Exhibit 01: Parent market
2.2: Market Characteristics
Exhibit 02: Market Characteristics
2.2 Value chain analysis
Exhibit 03: Value chain analysis: Apparel, Accessories and luxury Goods
2.2.2 Inbound logistics
2.2.4 Outbound logistics
2.2.5 Marketing and sales
2.2.7 Support activities
3. Market Sizing
3.1 Market definition
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 08: Five forces analysis 2020 & 2025
4.2 Bargaining power of buyers
Exhibit 09: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 10: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 11: Threat of new entrants
4.5 Threat of substitutes
Exhibit 12: Threat of substitutes
4.6 Threat of rivalry
Exhibit 13: Threat of rivalry
4.7 Market condition
Exhibit 14: Market condition - Five forces 2020
5. Market Segmentation by Product
5.1 Market segments
The segments covered in this chapter are:
- Running footwear
- Running apparel
Exhibit 15: Product - Market share 2020-2025 (%)
5.2 Comparison by Product
Exhibit 16: Comparison by Product
5.3 Running footwear - Market size and forecast 2020-2025
Exhibit 17: Running footwear - Market size and forecast 2020-2025 ($ million)
Exhibit 18: Running footwear - Year-over-year growth 2020-2025 (%)
5.4 Running apparel - Market size and forecast 2020-2025
Exhibit 19: Running apparel - Market size and forecast 2020-2025 ($ million)
Exhibit 20: Running apparel - Year-over-year growth 2020-2025 (%)
5.5 Others - Market size and forecast 2020-2025
Exhibit 21: Others - Market size and forecast 2020-2025 ($ million)
Exhibit 22: Others - Year-over-year growth 2020-2025 (%)
5.6 Market opportunity by Product
Exhibit 23: Market opportunity by Product
6. Market Segmentation by Distribution Channel
6.1 Market segments
The segments covered in this chapter are:
Exhibit 24: Distribution channel - Market share 2020-2025 (%)
Exhibit 25: Comparison by Distribution channel
6.3 Offline - Market size and forecast 2020-2025
Exhibit 26: Offline - Market size and forecast 2020-2025 ($ million)
Exhibit 27: Offline - Year-over-year growth 2020-2025 (%)
6.4 Online - Market size and forecast 2020-2025
Exhibit 28: Online - Market size and forecast 2020-2025 ($ million)
Exhibit 29: Online - Year-over-year growth 2020-2025 (%)
6.5 Market opportunity by Distribution channel
Exhibit 30: Market opportunity by Distribution channel
7. Customer landscape
Exhibit 31: Customer landscape
8. Geographic Landscape
8.1 Geographic segmentation
Exhibit 32: Market share by geography 2020-2025 (%)
8.2 Geographic comparison
Exhibit 33: Geographic comparison
8.3 APAC - Market size and forecast 2020-2025
Exhibit 34: APAC - Market size and forecast 2020-2025 ($ million)
Exhibit 35: APAC - Year-over-year growth 2020-2025 (%)
8.4 Europe - Market size and forecast 2020-2025
Exhibit 36: Europe - Market size and forecast 2020-2025 ($ million)
Exhibit 37: Europe - Year-over-year growth 2020-2025 (%)
8.5 North America - Market size and forecast 2020-2025
Exhibit 38: North America - Market size and forecast 2020-2025 ($ million)
Exhibit 39: North America - Year-over-year growth 2020-2025 (%)
8.6 South America - Market size and forecast 2020-2025
Exhibit 40: South America - Market size and forecast 2020-2025 ($ million)
Exhibit 41: South America - Year-over-year growth 2020-2025 (%)
8.7 MEA - Market size and forecast 2020-2025
Exhibit 42: MEA - Market size and forecast 2020-2025 ($ million)
Exhibit 43: MEA - Year-over-year growth 2020-2025 (%)
8.8 Key leading countries
Exhibit 44: Key leading countries
8.9 Market opportunity by geography
Exhibit 45: Market opportunity by geography ($ million)
9. Drivers, Challenges, and Trends
9.1 Market drivers
9.1.1 Growing online sales of running apparel and footwear
9.1.2 Product innovation leading to category premiumization
9.1.3 Opportunity of high operating margin
9.2 Market challenges
9.2.1 Increasing raw material cost impacting pricing strategy
9.2.2 Increasing number of anti-sweatshop campaigns
9.2.3 Sustainability of running footwear
Exhibit 46: Impact of drivers and challenges
9.3 Market trends
9.3.1 customization and personalization of running footwear and apparel
9.3.2 Adoption of social and digital media platforms for effective marketing strategies
9.3.3 Growing integration of shoe knitting technology
9. Vendor Landscape
10.1 Competitive scenario
10.2 Vendor landscape
Exhibit 47: Vendor Landscape
10.3 Landscape disruption
Exhibit 48: Landscape disruption
10.4 Industry risks
Exhibit 49: Industry risks
11. Vendor Analysis
11.1 Vendors covered
Exhibit 50: Vendors covered
10.2 Market positioning of vendors
Exhibit 51: Market positioning of vendors
11.3 adidas AG
Exhibit 52: adidas AG - Overview
Exhibit 53: adidas AG - Business segments
Exhibit 54: Adidas AG – Key news
Exhibit 55: adidas AG - Key offerings
Exhibit 56: adidas AG - Segment focus
11.4 ANTA Sports Products Ltd.
Exhibit 57: ANTA Sports Products Ltd. - Overview
Exhibit 58: ANTA Sports Products Ltd. - Business segments
Exhibit 59: ANTA Sports Products Ltd. - Key offerings
Exhibit 60: ANTA Sports Products Ltd. - Segment focus
11.5 ASICS Corp
Exhibit 61: ASICS Corp. - Overview
Exhibit 62: ASICS Corp. - Business segments
Exhibit 63: ASICS Corp. - Key offerings
Exhibit 64: ASICS Corp. - Segment focus
11.6 Columbia Sportswear Co.
Exhibit 65: Columbia Sportswear Co. - Overview
Exhibit 66: Columbia Sportswear Co. - Business segments
Exhibit 67: Columbia Sportswear Co. - Key offerings
Exhibit 68: Columbia Sportswear Co. - Segment focus
11.7 New Balance Athletics Inc.
Exhibit 69: New Balance Athletics Inc. - Overview
Exhibit 70: New Balance Athletics Inc. - Product and service
Exhibit 71: New Balance Athletics Inc. - Key offerings
11.8 Nike Inc.
Exhibit 72: Nike Inc. - Overview
Exhibit 73: Nike Inc. - Business segments
Exhibit 74: Nike Inc. – Key news
Exhibit 75: Nike Inc. - Key offerings
Exhibit 76: Nike Inc. - Segment focus
11.9 PUMA SE
Exhibit 77: PUMA SE - Overview
Exhibit 78: PUMA SE - Business segments
Exhibit 79: PUMA SE - Key news
Exhibit 80: PUMA SE - Key offerings
Exhibit 81: PUMA SE - Segment focus
11.10 Skechers USA Inc.
Exhibit 82: Skechers USA Inc. - Overview
Exhibit 83: Skechers USA Inc. - Business segments
Exhibit 84: Skechers USA Inc. - Key offerings
Exhibit 85: Skechers USA Inc. - Segment focus
11.11 Under Armour Inc.
Exhibit 86: Under Armour Inc. - Overview
Exhibit 87: Under Armour Inc. - Business segments
Exhibit 88: Under Armour Inc. - Key offerings
Exhibit 89: Under Armour Inc. - Segment focus
11.12 VF Corp.
Exhibit 90: VF Corp. - Overview
Exhibit 91: VF Corp. - Business segments
Exhibit 92: VF Corp. - Key offerings
Exhibit 93: VF Corp. - Segment focus
12.1 Scope of the report
12.1.1 ????Market definition
12.1.3 ????Notes and caveats
12.2 Currency conversion rates for US$
Exhibit 94: ?Currency conversion rates for US$?
12.3 Research Methodology
Exhibit 95: ?Research Methodology
Exhibit 96: ??Validation techniques employed for market sizing?
Exhibit 97: ??Information sources
12.4 List of abbreviations
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.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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- Increasing number of anti-sweatshop campaigns
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