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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:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

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

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.42%

Market growth 2021-2025

$ 10.25 billion

Market structure

Fragmented

YoY growth (%)

4.92

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 35%

Key consumer countries

US, China, UK, Germany, and Japan

Competitive landscape

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.

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.

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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

                              2.2.1 Inputs

                              2.2.2 Inbound logistics

                              2.2.3 Operations

                              2.2.4 Outbound logistics

                              2.2.5 Marketing and sales

                              2.2.6 Service

                              2.2.7 Support activities

                              2.2.8 Innovation

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
  • Others

 

                              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:

  • Offline
  • Online

                              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. Appendix                           

               12.1 Scope of the report         

                              12.1.1 ????Market definition

                              12.1.2 ????Objectives

                              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        

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.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The running gear market growth will increase by $10257.35 million during 2020-2025.
The running gear market is expected to grow at a CAGR of 5.42% during 2020-2025.
Technavio has segmented the running gear market by product (Running footwear, Running apparel, and Others) ,distribution channel (Offline and Online) , and geographic (APAC, Europe, North America, South America, and MEA).
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. are a few of the key vendors in the running gear market.
APAC will register the highest growth rate of 35.44% among the other regions. Therefore, the running gear market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the running gear market growth are:
  • Increasing number of anti-sweatshop campaigns
The running gear market vendors should focus on grabbing business opportunities from the running footwear segment as it accounted for the largest market share in the base year.
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