Running Gear Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2020-2024

The running gear market size has the potential to grow by $ 269.92 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (running footwear, running apparel, and others), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and MEA). Also, 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., and VF Corp.

Market Overview

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Market Competitive Analysis

The market is fragmented with the presence of well-established brands along with some local or regional vendors. Vendors are offering customizable athletic shoes and casual sports shoes. Factors such as product development and innovation and the introduction of many advanced technologies will intensify the level of competition among the players in this marketspace. adidas AG, ANTA Sports Products Ltd., and ASICS Corp. are some of the major market participants. Although the product innovation leading to category premiumization will offer immense growth opportunities, the increasing raw material cost impacting pricing strategy will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this running gear market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this running gear market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, 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.

Running Gear Market: Segmentation by Product

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The global running footwear market is intensely competitive due to the presence of some key players, as well as many local and regional players. The vendors plan to make huge investments in brand entities, supply channel networks, marketing channels, and brand building strategies. Enormous small- and medium-sized manufacturers give stiff competition to established players in this market segment. In the running footwear market, a broad range of footwear is offered in multiple colors, designs, and prices to cater to the needs and purchasing abilities of individual consumers. There are diverse types of running shoes available in the market, such as minimalist running shoes, stability running shoes, neutral and cushioned running shoes, motion control running shoes, and trail running shoes.

Market growth in this segment will be faster than the growth of the market in the running footwear segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the running gear market size.

Running Gear Market: Segmentation by Geography

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APAC was the largest running gear market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increased health and wellness concerns, coupled with growing participation in fitness activities, running events, training, and other sports activities will significantly drive running gear market growth in this region over the forecast period.

32% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for running gear in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Running Gear Market: Key Drivers and Trends

The online retail segment is growing in the developed countries in the Americas and Europe due to the rising number of smartphone users and growth in Internet penetration. A large number of consumers are purchasing products online due to the convenience it offers and the availability of heavy discounts, an option such as cash on delivery, and fast-delivery services. Our research analysis on the global running gear market has the growing online sales of running gear and running footwear as one of the major factors that will have a positive impact on the market’s growth. Vendors such as Nike are considering the consumers’ buying patterns to come up with better products. With vendors such as Nike, ASICS, SKECHERS USA, Under Armour, and adidas Group are using their own web portals to reach more consumers, the online sales of running gear will further increase in the coming years. 

The participation of enthusiasts in fitness activities like running is increasing in the Americas and this, in turn, is driving the adoption of running gear in this region. Boston Marathon and New York City Marathon are some of the most legendary and best-known marathons organized in the US to promote running and other physical activities. Moreover, the region is also witnessing the increasing popularity of themed races and obstacle events in countries such as the US. This will consequently drive the purchase of running gear including running clothes, running accessories, running tights, running shirts, running tops, and night running gear, in turn, fueling the growth of the running gear market.

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Running Gear Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• 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 market 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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