PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1454254
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1454254
The athletic footwear Market size is valued at US$ 132.6 Bn in 2024 and is expected to reach US$ 170.9 Bn by 2031, growing at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2023/2024: | US$ 132.6 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 - 2031 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 3.70% | 2030/2031 Value Projection: | US$ 170.9 Bn |
Global athletic footwear market has witnessed substantial growth over the past few years due to the increasing popularity of sports and fitness activities amongst the populace. Rising health awareness and growing participation in sports and recreational activities have boosted the demand for high-performance athletic shoes across the world. Furthermore, advancements in materials and technologies have led to the development of lightweight, durable, and comfortable footwear that provides enhanced cushioning and support to athletes. Aggressive marketing campaigns by major brands focusing on lifestyle, leisure, and professional sports have attracted more customers to this market. Changing fashion trends along with the easy availability of varied athletic shoes through online and offline distribution channels continue to drive the market growth globally. Global athletic footwear market is also influenced by factors such as changing consumer lifestyles, technical improvements, the introduction of new and inventive shoes, and increased knowledge about the need for wearing the proper type of shoes to avoid muscle and leg injuries. The market is highly competitive, with key market players focusing on product innovation, mergers and acquisitions, and partnerships to gain a competitive edge.
The key factors such as increasing youth population those who are involved in sports activities, launch of innovative products by dominant market players, rising health consciousness among people, and growing disposable incomes drive the growth of global athletic footwear market. However, availability of counterfeit products and fluctuations in raw material prices hinder the market growth. On the other hand, emerging economies offer lucrative opportunities for market expansion in the near future due to the rising number of sports enthusiasts.