Consumer Goods

Athletic Footwear Market Report Cover

Athletic Footwear Market

Athletic Footwear Market Report Cover

Athletic Footwear Market Size, Share, Growth & Industry Analysis, By Type (Running Shoes, Walking Shoes, Trekking & Hiking Shoes, Others), By End User (Men, Women, Children), By Distribution Channel (Specialty Stores, Department Stores, Wholesalers/Distributors, Online Retailers) and Regional Analysis, 2024-2031 2024-2031

Author : Ashim L.

Pages : 120

Base Year : 2023

Release : April 2024

Report ID: KR678

Athletic Footwear Market Size

The Global Athletic Footwear Market size was valued at USD 120.62 billion in 2023 and is projected to reach USD 177.65 billion by 2031, growing at a CAGR of 5.03% from 2024 to 2031. In the scope of work, the report includes products offered by companies such as Adidas AG, New Balance, Nike, ASICS, Puma, Sketchers, Under Armour, Mizuno, Diadora, Saucony and Others. The athletic footwear market encompasses various shoe types tailored for sports and physical activities, including those designed for running, walking, hiking, and trekking.

The market is experiencing rapid growth due to various factors. These include the popularity of sports and outdoor activities among all age groups, health and wellness trends encouraging individuals to engage in physical activities, and the influence of fashion and lifestyle among consumers. Additionally, rising disposable incomes due to economic improvements in developing regions and technological advancements fostering innovation in developing new shoes, enhancing performance and comfort, contribute to this growth.

Additionally, global sporting events, including the Olympics, FIFA World Cup, and other regional tournaments contribute to increased engagement in sports, thus supporting athletic footwear market growth. Consumers engaged in sporting and fitness activities often prefer specialized solutions, including footwear tailored to their particular sport or activity. Furthermore, the expansion of online retail platforms provides convenience and access to consumers to purchase products of their choice regardless of their location. This broadens the market reach and penetration of different brands, as online retail platforms frequently offer hefty discounts on their offerings, thereby attracting more consumers.

Analyst’s Review 

The athletic footwear market is expected to sustain its upward trajectory in the forecast duration, propelled by prevalent market trends such as the integration of technological innovations and evolving fashion preferences. Major brands are increasingly focusing on prioritizing sustainability, customization, and smart technologies as consumers seek innovative products to enhance their health and fitness. Despite facing challenges due to the rise in counterfeit products, the industry is set to witness steady market growth, primarily attributed to increasing disposable incomes and rising consumer emphasis on sports and other fitness activities.

Athletic Footwear Market Growth Factors

The global participation of women in both amateur and professional sports has witnessed a notable increase. This noticeable demographic shift has prompted footwear companies to expand their product lines, including options specifically cater to anatomical needs and preferences of women. The significant growth of women-specific sports leagues and related events is a key contributor to this trend. Consequently, it has created a substantial market for female athletic footwear that seamlessly combines performance with fashion.

The rapid urbanization in developing countries is resulting in a prominent demographic shift in the regions, marked by the migration of the younger generation to urban areas. This leads to increased participation and promotion of fitness activities such as jogging, gym workouts, and other group sports. This shift is fostering demand for versatile athletic footwear that is suitable for both exercise and casual urban wear. Furthermore, the increasing demand for shoes that offer a blend of style, comfort, and functionality is gaining popularity among consumers, resulting in the development of the athletic footwear market.

Athletic Footwear Market Trends

The athletic footwear market is experiencing a rise in hybrid designs that include elements from different shoe categories. For instance, Puma offers the comfort and cushioning of running shoes combined with the stability and support of hiking boots, which is becoming popular among outdoor enthusiasts. Moreover, hybrid designs that integrate elements of athletic sneakers with formal or casual styles are tailored to meet the demands of consumers who seek versatile footwear suitable for various occasions. These offerings cater to the demand for multifunctional shoes that provide the benefits of various types of footwear in a single product. They appeal to consumers seeking both practicality and style versatility in their shoe selections.

Increasing consumer awareness regarding sustainability and ethical practices has prompted a shift toward greater transparency in sourcing, production, and supply chains. Brands are increasingly embracing sustainable materials, eco-friendly manufacturing processes, and fair labor practices. They are transparently communicating these efforts to consumers to highlight their commitment to sustainability and ethical production. This trend is further propelled by a growing ethical considerations that encourage consumers to support brands that prioritize environmental and social responsibility. Transparency and adherence to ethical practices enhance brand reputation, thus attracting a growing segment of conscious consumers who prioritize sustainability when making purchasing decisions.

Segmentation Analysis

The global athletic footwear market is segmented based on type, end user, distribution channel, and geography.

By Type

Based on type, the market is segmented into running shoes, walking shoes, trekking & hiking shoes, and others. The running shoes led the market in 2023, reaching a valuation of USD 55.30 billion. This considerable growth is largely attributed to a growing number of individuals using them for physical exercise. These shoes are versatile and are suitable for various activities. Running shoes often incorporate specialized features such as cushioning and lightweight materials, which enhance their comfort and durability. Evolution in design and technology continually introduces fashionable options suitable for everyday use. Additionally, promotions by famous athletes and influencers significantly increase their popularity and demand among consumers.

By End User

Based on end user, the market is bifurcated into men, women, and children. The men segment secured the largest revenue share of 53.60% in 2023 due to greater male participation in various sports and fitness activities, including soccer, basketball, running, and other activities. These activities often require specialized apparel and footwear. Furthermore, there is a notable trend in the development of athletic shoes with a focus on fashionability and comfort, particularly favored by men who prioritize functionality. Due to this, the men segment holds a significant market share in the athletic footwear market.

Athletic Footwear Market Regional Analysis

Based on region, the global athletic footwear market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

Athletic Footwear Market Size & Share, By Region, 2024-2031

The North America Athletic Footwear Market share stood around 35.85% in 2023 in the global market, with a valuation of USD 43.24 billion, primarily due to its widespread sports culture and high participation rates. The region's large population and strong purchasing power further contribute to its market dominance. Major brands have solidified their substantial foothold in North America, benefiting from trends such as athleisure wear and continuous innovations in footwear technology. The mature e-commerce boosts accessibility, making it easier for consumers to find and purchase athletic footwear online, thereby supporting regional market growth.

Asia-Pacific is poised to witness significant growth at a CAGR of 6.41% over the forecast period. This rapid growth in the athletic footwear market is attributed to increasing disposable incomes and a growing emphasis on health and fitness. Rapid urbanization, coupled with a significant younger demographic, leads to the expansion of retail infrastructure, thereby facilitating increased demand. Furthermore, footwear brands are constantly innovating and offering products tailored to local preferences, thus fueling Asia-Pacific athletic footwear market expansion.

Competitive Landscape

The global athletic footwear market report will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. Strategic initiatives, including investments in R&D activities, the establishment of new manufacturing facilities, and supply chain optimization, could create new opportunities for market growth.

List of Key Companies in Athletic Footwear Market

  • Adidas AG
  • New Balance
  • Nike
  • Puma
  • Sketchers
  • Under Armour
  • Mizuno
  • Diadora
  • Saucony

Key Industry Developments 

  • April 2024 (Launch): Nike introduced the 'Nike Pegasus 41', a new addition to its Pegasus lineup, featuring a full-length ReactX foam midsole and Air Zoom units in the forefoot and heel. Set for release in June 2024 on Nike's official online store and select retailers, the shoe boasts a 13% higher energy return with its proprietary ReactX foam compared to the React foam used in previous models.
  • April 2024 (Launch): ANTA SPORTS launched the 'ANTA x Kyrie Irving collaboration', a collection curated with NBA player Kyrie Irving's vision and inputs. The collection includes various products such as T-shirts, hoodies, and pants, reflecting Irving's style and preferences. The apparel is crafted from 100% cotton and is available in different sizes.

The Global Athletic Footwear Market is Segmented as:

By Type

  • Running Shoes
  • Walking Shoes
  • Trekking & Hiking Shoes
  • Others

By End User

  • Men
  • Women
  • Children

By Distribution Channel

  • Specialty Stores
  • Department Stores
  • Wholesalers/Distributors
  • Online Retailers

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Check Icon Additional Company Profiles
  • Check Icon Additional Countries
  • Check Icon Cross Segment Analysis
  • Check Icon Regional Market Dynamics
  • Check Icon Country-Level Trend Analysis
  • Check Icon Competitive Landscape Customization
  • Check Icon Extended Forecast Years
  • Check Icon Historical Data Up to 5 Years
Frequently Asked Questions (FAQ's)
The global market is projected to reach USD 177.65 billion by 2031, growing at a CAGR of 5.03% from 2024 to 2031.
The global market was valued at USD 120.62 billion in 2023.
Technological advancements in material development coupled with customization services including virtual try-on options are driving growth in the global market.
Top manufacturers of athletic footwear are Adidas AG, New Balance, Nike, ASICS, Puma, Sketchers, Under Armour, Mizuno, Diadora, Saucony, and others.
Asia-Pacific is the fastest growing region with the CAGR of 6.41% in the forecast period (2024-2031) with the market value forecast to reach at USD 52.28 billion.
By type, running shoes will hold the maximum share in the athletic footwear market with the revenue value of USD 55.30 billion in 2031.
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