Global athletic footwear market will grow over 2021-2027 with an increasing trend for sports & fitness activities. There is a higher pressure on athletic footwear providers to launch innovative products and cater to the demand for customized offerings.
Athletic footwear include shoes that are designed for outdoor activities and other sports activities. It has become popular as casual footwear. Athletic shoes are used as running shoes, sports shoes, sneakers and gym shoes. Much of the recent research in athletic footwear is focusing on the enhancements and developments of footwear. Customers are increasingly using the ideal type of shoes for sports activities to prevent leg injuries, muscle injuries, hip pain, knee pain and back pain.
Athletic footwear market share from the running shoes segment will witness considerable growth. Running shoes required for activities such as advanced running, road running, and track running have gained immense traction. Brands are expected to offer premium and customized shoes. For instance, now many running shoes are introduced with inbuilt shock absorbers and light walking shoes.
It can provide enough cushioning for the stress on the body and feet. Besides, foot cushioning can minimize some of the stress placed on toes, ankles and heels during a run. Road and trail running shoes are being introduced to help the big toe remain in a straight position. The American Council on Exercise states that running shoes must provide midsole cushioning.
Based on gender category, men’s athletic footwear segment is poised to grow at a notable rate over the 2021-2027 forecast period. Lightweight sports shoes are driving the trend with mesh fabric layers, enabling air-circulation and durability. Besides, increased participation of men athletes at major sporting events has encouraged shoe companies to consistently introduce new men’s footwear.
On the distribution channel front, athletic footwear industry share from the online retail channel is expected to garner substantial momentum over the next few years. Footwear companies are gradually showing interest in expanding their e-commerce reach. Business models are rebuilding their strategies with an emphasis on selling footwear online. Notably, brands such as Nike and Adidas are selling 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 trustworthy relationship.
With regards to regional landscape, North America athletic footwear market value will experience an appreciable gain during the assessment period 2021-2027. Expanding penetration of the e-commerce channel 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.
Key vendors in the global athletic footwear market are Nike, Puma, Reebok, New Balance, Asics, Saucony, Van, Converse and VF Corp. They will focus on organic and inorganic strategies to expand their operations, reduce environmental footprint, boost production with greater efficiency.
The coronavirus pandemic has disrupted production activities worldwide, seemingly impacting footwear production. Lack of consumer purchase due to store shutdowns may have slowed down product manufacturing during 2020.
Global footwear consumption was expected to fall due to the COVID-19 outbreak. A steep decline in sports activities and postponement of the Tokyo Olympics in 2020 have played a role in disrupting the sports footwear industry to some extent. Meanwhile, the impact of the pandemic has forced footwear companies to shift their attention towards e-commerce channels. The trend is likely to outline the global athletic footwear market outlook over the next few years.