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Athletic Footwear Market size is poised to grow with a lucrative CAGR from 2023 to 2032, driven by an upward trend in sports & fitness activities. Athletic footwear includes shoes designed for outdoor and other sports activities. It has become popular as casual footwear. Most of the recent research around athletic footwear focuses on its enhancements and developments. Customers increasingly use the ideal type of shoes for sports activities to prevent leg, muscle, hip, knee, and back injuries.
Companies operating in the industry are seeking the launch of new footwears to cater to the demand for customized offerings, in line with staying ahead in the competitive landscape. To illustrate, Lululemon in 2023, introduced a new footwear line- Blissfeel 2. The latest addition is developed to meet customized demand for females to offer a better fit and feel. Footwears in the line boast of seamless frame that extends through the heel to develop a cradled sensation.
Moreover, the product’s 3D-molded midfoot panel adds stability, while the new design has a layered textile that contours the foot.
Inflation and other economic concerns have massively impacted people's buying behavior, especially in the U.S. According to a survey conducted by AlixPartners, nearly 43% of women and 30% of men have deprioritized footwear purchases. This has produced a negative impact on athletic footwear market share.
Based on gender category, the men's athletic footwear segment is poised to grow notably over 2023-2032. Lightweight sports shoes drive the trend with mesh fabric layers, enabling air circulation and durability. Besides, increased participation of male athletes at major sporting events has encouraged shoe companies to consistently introduce new men's footwear, affecting the market growth.
On the distribution channel front, the athletic footwear industry share from the online retail channel is expected to garner substantial momentum. Footwear companies are gradually showing interest in expanding their e-commerce reach. Businesses are rebuilding their strategies with an emphasis on selling footwear online. Notably, brands, including Nike and Adidas, sell their products online with the direct-to-consumer business model. The DTC model helps manufacturers connect directly with customers, create a personalized shopping experience, and build a trustworthy relationship.
America athletic footwear market will experience appreciable gains from 2023 to 2032. Expanding penetration of the e-commerce in the U.S. and Canada will augur well for the industry expansion. The millennial and gen Z populations are investing heavily in sports shoes. Prominently, the involvement of sports players in baseball, football, basketball, and tennis has encouraged industry players to boost the manufacturing of sports footwear.
The global athletic footwear market vendors are Nike, Puma, Reebok, New Balance, Asics, Saucony, Van, Converse, and VF Corp. These conglomerates are focusing on organic and inorganic strategies, partnerships, acquisitions, and mergers to expand their operations, reduce their environmental footprint, and boost production more efficiently.