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Sports Footwear Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: Mar 2021
  • Pages: 215
  • SKU: IRTNTR44891
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The sports footwear market share is expected to increase by USD 8.36 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 1.95%.

This sports footwear 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 sports footwear market segmentations by product (athleisure sports footwear, running sports footwear, court game sports footwear, cleats sports footwear, and others), end-user (professional users and recreational users), and geography (APAC, Europe, North America, South America, and MEA). The sports footwear market report also offers information on several market vendors, including adidas AG, Amer Sports Corp., ASICS Corp., Columbia Sportswear Co., New Balance Athletics Inc., Nike Inc., PUMA SE, The Gap Inc., Under Armour Inc., and Wolverine World Wide Inc. among others.

What will the Sports Footwear Market Size be During the Forecast Period?

Sports Footwear Market Size

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Sports Footwear 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 premiumization due to the introduction of more innovative sports footwear is notably driving the sports footwear market growth, although factors such as the volatile cost of raw materials 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 sports footwear industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Sports Footwear Market Driver

The increasing premiumization due to introduction of more innovative sports footwear is notably driving sports footwear the market growth. Innovation plays a vital role in the sports footwear market because it helps to differentiate the products from one market competitor to the other. Advanced technical fabrications, innovative design, and product development position sports footwear as premium-priced products which enabled market competitors to introduce sport-specific footwear for basketball, football, rugby, trail running, golf, and other sports. Key market competitors such as Nike Inc., adidas AG, New Balance Athletics Inc., PUMA SE, Skechers USA Inc., Under Armour Inc., and ASICS Corp. are known for their innovative product offerings. For instance, Nike offers a wide variety of sports footwear equipped with new technologies for specific sports. Therefore, such factors are expected to have a positive impact on the profit margins of market competitors, which, in turn, is expected to escalate market growth during the forecast period.

Key Sports Footwear Market Trend

Expansion of distribution networks is the key market trend driving the sports footwear market growth. Vendors adopt different strategies to expand their online and offline distribution networks, which can increase their customer base. For instance, they invest in opening new stores and remodeling the existing ones. The increasing number of offline stores and online channels will accelerate their revenue. Brick and mortar retailing remains the key channel for the sales of sports footwear. However, Internet retailing will see rapid growth during the forecast period. Quick delivery services and competitive selling prices are the major factors that support the growth of Internet retailing worldwide. The growing Internet penetration and the increasing trust of customers in online transactions, combined with fast shipping services and growing fragmentation of customer choices, are expected to significantly contribute to the growth of the global sports footwear market during the forecast period.  

Key Sports Footwear Market Challenge

The major challenge impeding the sports footwear market growth is the volatile cost of raw materials. Volatile cost of raw materials In recent times, footwear manufacturers like Nike, Adidas, and PUMA are experiencing fluctuations in their profit margins. This is due to the fluctuating prices of raw materials and the increasing competition among market competitors. As the establishment costs are low, an influx of local players has been observed in recent times. The emergence of local players leads to price wars among competitors. This forces global sports footwear market competitors to reduce the prices of their products and, consequently, their profit margins. Thus, the continuous change in profit margins of the market competitors acts as a major challenge for the growth of the global sports footwear market. The lag between the cost fluctuations and the ability of the market competitors to increase product prices are factors that negatively impact their profit margins of them.

This sports footwear 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 global sports footwear market as a part of the global footwear 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 sports footwear market during the forecast period.

Who are the Major Sports Footwear Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • adidas AG
  • Amer Sports Corp.
  • ASICS Corp.
  • Columbia Sportswear Co.
  • New Balance Athletics Inc.
  • Nike Inc.
  • PUMA SE
  • The Gap Inc.
  • Under Armour Inc.
  • Wolverine World Wide Inc.

 

This statistical study of the sports footwear market encompasses successful business strategies deployed by the key vendors. The sports footwear market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • adidas AG - Key products offered by the company include Men's Adidas Running Erdiga 4.0 Shoes and Men's Adidas Running Stardrift Low Shoes.

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 sports footwear 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.

Sports Footwear Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the sports footwear market, 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.

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 Sports Footwear Market?

Sports Footwear Market Market segmentation by region

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52% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the sports footwear market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Popularity of several professional sports like australian open - grand slam tennis tournament in Melbourne will facilitate the sports footwear 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.

What are the Revenue-generating Product Segments in the Sports Footwear Market?

Sports Footwear Market Segmentation

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The sports footwear market share growth by the athleisure sports footwear segment will be significant during the forecast period. The manufacturing process of athleisure sports footwear involves less technicality compared with other sport-specific athletic footwear. With the growing youth culture and popularity of sporty looks for most of occasions, athleisure sports footwear is expected to witness significant demand during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the sports footwear market size and actionable market insights on post COVID-19 impact on each segment.

 

Sports Footwear Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 1.95%

Market growth 2021-2025

$ 8.36 billion

Market structure

Fragmented

YoY growth (%)

1.30

Regional analysis

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

Performing market contribution

APAC at 52%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

adidas AG, Amer Sports Corp., ASICS Corp., Columbia Sportswear Co., New Balance Athletics Inc., Nike Inc., PUMA SE, The Gap Inc., Under Armour Inc., 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 forecast period

Customization purview

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What are the Key Data Covered in this Sports Footwear Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive sports footwear market growth during the next five years
  • Precise estimation of the sports footwear market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the sports footwear industry across APAC, Europe, North America, South America, MEA, APAC, Europe, North America, South America, MEA, APAC, Europe, North America, South America, MEA, 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 sports footwear market vendors

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1 Executive Summary

  • 1.1 Market Overview

    2 Market Landscape

    • 2.1 Market ecosystem
      • Exhibit 11: Parent market
      • Exhibit 12: Market characteristics
    • 2.2 Market characteristics
      • Exhibit 13: Value chain analysis for footwear market
    • 2.3 Value chain analysis

      3 Market Sizing

      • 3.1 Market definition
        • Exhibit 14: Offerings of vendors included in the market definition
        • Exhibit 15: Market segments
      • 3.2 Market segment analysis
        • 3.3 Market size 2020
          • 3.4 Market outlook: Forecast for 2020 - 2025
            • Exhibit 16: Global - Market size and forecast 2020 - 2025 ($ billion)
            • Exhibit 17: Global market: Year-over-year growth 2020 - 2025 (%)

          4 Five Forces Analysis

          • 4.1 Five forces summary
            • Exhibit 19: Bargaining power of buyers
          • 4.2 Bargaining power of buyers
            • Exhibit 20: Bargaining power of suppliers
          • 4.3 Bargaining power of suppliers
            • Exhibit 21: Threat of new entrants
          • 4.4 Threat of new entrants
            • Exhibit 22: Threat of substitutes
          • 4.5 Threat of substitutes
            • Exhibit 23: Threat of rivalry
          • 4.6 Threat of rivalry
            • Exhibit 24: Market condition - Five forces 2020
          • 4.7 Market condition

            5 Market Segmentation by Product

            • 5.1 Market segments
              • Exhibit 26: Comparison by Product
            • 5.2 Comparison by Product
              • Exhibit 27: Athleisure sports footwear - Market size and forecast 2020-2025 ($ billion)
            • 5.3 Athleisure sports footwear - Market size and forecast 2020-2025
              • Exhibit 28: Athleisure sports footwear - Year-over-year growth 2020-2025 (%)
              • Exhibit 29: Running sports footwear - Market size and forecast 2020-2025 ($ billion)
            • 5.4 Running sports footwear - Market size and forecast 2020-2025
              • Exhibit 30: Running sports footwear - Year-over-year growth 2020-2025 (%)
              • Exhibit 31: Court game sports footwear - Market size and forecast 2020-2025 ($ billion)
            • 5.5 Court game sports footwear - Market size and forecast 2020-2025
              • Exhibit 32: Court game sports footwear - Year-over-year growth 2020-2025 (%)
              • Exhibit 33: Cleats sports footwear - Market size and forecast 2020-2025 ($ billion)
            • 5.6 Cleats sports footwear - Market size and forecast 2020-2025
              • Exhibit 34: Cleats sports footwear - Year-over-year growth 2020-2025 (%)
              • Exhibit 35: Others - Market size and forecast 2020-2025 ($ billion)
            • 5.7 Others - Market size and forecast 2020-2025
              • Exhibit 36: Others - Year-over-year growth 2020-2025 (%)
              • Exhibit 37: Market opportunity by Product
            • 5.8 Market opportunity by Product

              6 Market Segmentation by Application

              • 6.1 Market segments
                • Exhibit 39: Comparison by Application
              • 6.2 Comparison by Application
                • Exhibit 40: Outdoor sports footwear - Market size and forecast 2020-2025 ($ billion)
              • 6.3 Outdoor sports footwear - Market size and forecast 2020-2025
                • 6.4 Sports-inspired footwear - Market size and forecast 2020-2025
                  • Exhibit 43: Sports-inspired footwear - Year-over-year growth 2020-2025 (%)
                  • Exhibit 44: Performance sports footwear - Market size and forecast 2020-2025 ($ billion)
                • 6.5 Performance sports footwear - Market size and forecast 2020-2025
                  • Exhibit 45: Performance sports footwear - Year-over-year growth 2020-2025 (%)
                  • Exhibit 46: Market opportunity by Application
                • 6.6 Market opportunity by Application

                  7 Market Segmentation by End-user

                  • 7.1 Market segments
                    • Exhibit 48: Comparison by End user
                  • 7.2 Comparison by End user
                    • Exhibit 49: Professional users - Market size and forecast 2020-2025 ($ billion)
                  • 7.3 Professional users - Market size and forecast 2020-2025
                    • Exhibit 50: Professional users - Year-over-year growth 2020-2025 (%)
                    • Exhibit 51: Recreational users - Market size and forecast 2020-2025 ($ billion)
                  • 7.4 Recreational users - Market size and forecast 2020-2025
                    • Exhibit 52: Recreational users - Year-over-year growth 2020-2025 (%)
                    • Exhibit 53: Market opportunity by End user
                  • 7.5 Market opportunity by End user

                    8 Market Segmentation by Distribution channel

                    • 8.1 Market segments
                      • Exhibit 55: Comparison by Distribution channel
                    • 8.2 Comparison by Distribution channel
                      • Exhibit 56: Offline - Market size and forecast 2020-2025 ($ billion)
                    • 8.3 Offline - Market size and forecast 2020-2025
                      • Exhibit 57: Offline - Year-over-year growth 2020-2025 (%)
                      • Exhibit 58: Online - Market size and forecast 2020-2025 ($ billion)
                    • 8.4 Online - Market size and forecast 2020-2025
                      • Exhibit 59: Online - Year-over-year growth 2020-2025 (%)
                      • Exhibit 60: Market opportunity by Distribution channel
                    • 8.5 Market opportunity by Distribution channel

                      9 Customer landscape

                      • 9.1 Overview

                        10 Geographic Landscape

                        • 10.1 Geographic segmentation
                          • Exhibit 63: Geographic comparison
                        • 10.2 Geographic comparison
                          • Exhibit 64: APAC - Market size and forecast 2020-2025 ($ billion)
                        • 10.3 APAC - Market size and forecast 2020-2025
                          • Exhibit 65: APAC - Year-over-year growth 2020-2025 (%)
                          • Exhibit 66: Europe - Market size and forecast 2020-2025 ($ billion)
                        • 10.4 Europe - Market size and forecast 2020-2025
                          • Exhibit 67: Europe - Year-over-year growth 2020-2025 (%)
                          • Exhibit 68: North America - Market size and forecast 2020-2025 ($ billion)
                        • 10.5 North America - Market size and forecast 2020-2025
                          • Exhibit 69: North America - Year-over-year growth 2020-2025 (%)
                          • Exhibit 70: South America - Market size and forecast 2020-2025 ($ billion)
                        • 10.6 South America - Market size and forecast 2020-2025
                          • Exhibit 71: South America - Year-over-year growth 2020-2025 (%)
                          • Exhibit 72: MEA - Market size and forecast 2020-2025 ($ billion)
                        • 10.7 MEA - Market size and forecast 2020-2025
                          • Exhibit 73: MEA - Year-over-year growth 2020-2025 (%)
                          • Exhibit 74: Key leading countries
                        • 10.8 Key leading countries
                          • Exhibit 75: Market opportunity by geography ($ billion)
                        • 10.9 Market opportunity by geography

                          11 Drivers, Challenges, and Trends

                          • 11.1 Market drivers
                            • 11.2 Market challenges
                              • Exhibit 76: Impact of drivers and challenges
                            • 11.3 Market trends

                              12 Vendor Landscape

                              • 12.1 Competitive scenario
                                • Exhibit 77: Vendor landscape
                              • 12.2 Overview
                                • Exhibit 78: Landscape disruption
                              • 12.3 Landscape disruption
                                • Exhibit 79: Industry risks
                              • 12.4 Industry risks

                                13 Vendor Analysis

                                • 13.1 Vendors covered
                                  • Exhibit 81: Market positioning of vendors
                                • 13.2 Market positioning of vendors
                                  • Exhibit 82: adidas AG - Overview
                                  • Exhibit 83: adidas AG - Business segments
                                • 13.3 adidas AG
                                  • Exhibit 84: adidas AG – Key news
                                  • Exhibit 85: adidas AG - Key offerings
                                  • Exhibit 86: adidas AG - Segment focus
                                  • Exhibit 87: Amer Sports Corp. - Overview
                                  • Exhibit 88: Amer Sports Corp. - Business segments
                                • 13.4 Amer Sports Corp.
                                  • Exhibit 89: Amer Sports Corp. – Key news
                                  • Exhibit 90: Amer Sports Corp. - Key offerings
                                  • Exhibit 91: Amer Sports Corp. - Segment focus
                                  • Exhibit 92: ASICS Corp. - Overview
                                  • Exhibit 93: ASICS Corp. - Business segments
                                • 13.5 ASICS Corp.
                                  • Exhibit 94: ASICS Corp. – Key news
                                  • Exhibit 95: ASICS Corp. - Key offerings
                                  • Exhibit 96: ASICS Corp. - Segment focus
                                  • Exhibit 97: Columbia Sportswear Co. - Overview
                                  • Exhibit 98: Columbia Sportswear Co. - Business segments
                                • 13.6 Columbia Sportswear Co.
                                  • Exhibit 99: Columbia Sportswear Co. - Key offerings
                                  • Exhibit 100: Columbia Sportswear Co. - Segment focus
                                  • Exhibit 101: New Balance Athletics Inc. - Overview
                                  • Exhibit 102: New Balance Athletics Inc. - Product and service
                                • 13.7 New Balance Athletics Inc.
                                  • Exhibit 103: New Balance Athletics Inc. – Key news
                                  • Exhibit 104: New Balance Athletics Inc. - Key offerings
                                  • Exhibit 105: Nike Inc. - Overview
                                  • Exhibit 106: Nike Inc. - Business segments
                                • 13.8 Nike Inc.
                                  • Exhibit 107: Nike Inc. – Key news
                                  • Exhibit 108: Nike Inc. - Key offerings
                                  • Exhibit 109: Nike Inc. - Segment focus
                                  • Exhibit 110: PUMA SE - Overview
                                  • Exhibit 111: PUMA SE - Business segments
                                • 13.9 PUMA SE
                                  • Exhibit 112: PUMA SE – Key news
                                  • Exhibit 113: PUMA SE - Key offerings
                                  • Exhibit 114: PUMA SE - Segment focus
                                  • Exhibit 115: The Gap Inc. - Overview
                                  • Exhibit 116: The Gap Inc. - Business segments
                                • 13.10 The Gap Inc.
                                  • Exhibit 117: The Gap Inc. - Key offerings
                                  • Exhibit 118: The Gap Inc. - Segment focus
                                  • Exhibit 119: Under Armour Inc. - Overview
                                  • Exhibit 120: Under Armour Inc. - Business segments
                                • 13.11 Under Armour Inc.
                                  • Exhibit 121: Under Armour Inc. – Key news
                                  • Exhibit 122: Under Armour Inc. - Key offerings
                                  • Exhibit 123: Under Armour Inc. - Segment focus
                                  • Exhibit 124: Wolverine World Wide Inc. - Overview
                                  • Exhibit 125: Wolverine World Wide Inc. - Business segments
                                • 13.12 Wolverine World Wide Inc.
                                  • Exhibit 126: Wolverine World Wide Inc.-Key news
                                  • Exhibit 127: Wolverine World Wide Inc. - Key offerings
                                  • Exhibit 128: Wolverine World Wide Inc. - Segment focus

                                14 Appendix

                                • 14.1 Scope of the report
                                  • Exhibit 129: Currency conversion rates for US$
                                • 14.2 Currency conversion rates for US$
                                  • Exhibit 130: Research Methodology
                                • 14.3 Research methodology
                                  • Exhibit 131: Validation techniques employed for market sizing
                                  • Exhibit 132: Information sources
                                  • Exhibit 133: List of abbreviations
                                • 14.4 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
                                  Technavio

                                  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
                                  Technavio

                                  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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                                  Sports Footwear Market market growth will increase by $8.36 bn during 2021-2025.
                                  The sports footwear market market is expected to grow at a CAGR of 1.95% during 2021-2025.
                                  Technavio has segmented the sports footwear market market by product (Athleisure sports footwear, Running sports footwear, Court game sports footwear, cleats sports footwear, and Others) ,end-user (Professional users and Recreational users) , and geography (APAC, Europe, North America, South America, and MEA).
                                  adidas AG, Amer Sports Corp., ASICS Corp., Columbia Sportswear Co., New Balance Athletics Inc., Nike Inc., PUMA SE, The Gap Inc., Under Armour Inc., Wolverine World Wide Inc. are a few of the key vendors in the sports footwear market market.
                                  APAC will register the highest growth rate of 52% among the other regions. Therefore, the sports footwear market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                                  The key factors driving the sports footwear market market growth are:
                                  • increasing premiumization due to introduction of more innovative sports footwear
                                  • Use of environment-friendly materials to manufacture sports gear and equipment
                                  The sports footwear market market vendors should focus on grabbing business opportunities from the athleisure sports footwear segment as it accounted for the largest market share in the base year.
                                  • What are the key global market and the regional market share?
                                  • What are the revenue-generating key market segments?
                                  • What are the key factors driving and challenging this market’s growth?
                                  • Who are the key market vendors and their growth strategies?
                                  • What are the latest trends influencing the growth of this market?
                                  • What are the variables influencing the market growth in the primary regions?
                                  • What are the factors influencing the growth of the parent market?
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