Sports Footwear Market Size, Share, Growth Analysis, By Product Type, By End User, By Distribution Channel, By Price Range, By Material, By Technology, By Region - Industry Forecast 2024-2031

Global Sports Footwear Market size was valued at USD 106.05 billion in 2022 and is poised to grow from USD 111.25 billion in 2023 to USD 163.11 billion by 2031, growing at a CAGR of 4.9% during the forecast period (2024-2031).

The global demand for sports shoes has been severely impacted by the COVID-19 pandemic, with a notable decline of -8.94% in 2019, contrasting with the steady year-over-year growth seen between 2017 and 2019. Despite this setback, the long-term outlook remains promising due to the significant role sports shoes play in providing flexibility, stability, and motion control for athletes. As sporting events increase in number and popularity, consumer interest is set to rise. Additionally, intense competition in sports like football, baseball, and hockey is likely to drive market growth. In Australia, active cricket participation is significant, with approximately 1.5 million participants, reflecting a broader trend that supports increased engagement in sports and the subsequent demand for athletic footwear.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Sports Footwear market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Sports Footwear Market Segmental Analysis

Global Sports Footwear Market is segmented by product type, end user, distribution channel, price range, material, technology, occasion of use, lifestyle, frequency of purchase and region. Based on product type, the market is segmented into running shoes (road running shoes, trail running shoes), sports shoes (basketball shoes, soccer shoes, tennis shoes, cricket shoes), hiking shoes (lightweight hiking shoes, mountaineering boots) and other product types (aerobic & gym wear shoes, walking shoes). Based on end user, the market is segmented into men, women and children. Based on distribution channel, the market is segmented into sports and athletic goods stores, hypermarkets, online retail stores and other distribution channels (specialty stores, department stores). Based on price range, the market is segmented into budget, mid-priced and luxury. Based on material, the market is segmented into leather, suede, canvas, rubber and synthetic. Based on technology, the market is segmented into arch support, cushioning, waterproofing and breathability. Based on occasion of use, the market is segmented into casual wear, sports, outdoor activities and formal wear. Based on lifestyle, the market is segmented into active lifestyle, casual lifestyle and professional lifestyle. Based on frequency of purchase, the market is segmented into frequent buyers and occasional buyers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Driver of the Global Sports Footwear Market

The Global Sports Footwear market is significantly driven by an increasing awareness of health and fitness, leading to a surge in sports participation and physical activities among the population. This trend is further bolstered by advancements in footwear technology, resulting in enhanced functionality and the development of lightweight running shoes. To cater to evolving consumer preferences, manufacturers are introducing customizable options, thereby broadening market appeal. Furthermore, government initiatives worldwide are focused on promoting the benefits of physical activity and investing in healthcare, which fosters a more active lifestyle. These factors collectively contribute to the growth of the sports footwear sector, reflecting a robust and expanding market.

Restraints in the Global Sports Footwear Market

The growth of the global sports footwear market is hindered by limited access to sports opportunities and a reduced demand for high-priced athletic footwear, particularly in rural and lower-income regions. This challenge is further exacerbated by the prevalence of low-cost counterfeit products that compete with premium brands, as well as the emergence of numerous small-scale competitors in the market. Consequently, these factors collectively restrict the market's expansion, as they create barriers for both consumers and manufacturers in reaching their full potential in these underserved areas. Addressing these constraints is essential for the market to realize sustainable growth in the future.

Market Trends of the Global Sports Footwear Market

The Global Sports Footwear market is witnessing a significant trend towards sustainability, driven by an increasing consumer demand for environmentally friendly products. As awareness of environmental issues continues to grow, brands are prioritizing eco-conscious materials in their shoe production processes. Companies like Adidas have set benchmarks by introducing innovative products, such as their fully recyclable running shoes, which align with market demands for sustainability. This trend not only reflects a shift in consumer preferences but also compels other manufacturers to invest in green technologies and sustainable practices, ultimately propelling the market towards a more sustainable future.