PUBLISHER: The Business Research Company | PRODUCT CODE: 1428303
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428303
Running shoes are a specialized form of footwear designed to offer comfort, support, and protection specifically for running activities. They incorporate features such as arch support, pronation control, and heel counters to ensure proper alignment and minimize excessive foot movement. Running shoes are commonly used for various sports activities including running, jogging, and outdoor adventures.
The main types of running shoes are stability shoes, motion control shoes, and cushion shoes. Stability shoes are designed to provide support and stability, particularly for individuals who overpronate or exhibit excessive inward rolling of the feet during walking or running. These shoes come in various forms, such as road shoes, treadmill shoes, trail shoes, mud shoes, and snowshoes, featuring different types of closures such as lace-up, single-pull lace, bungee lace, and others. Distribution of running shoes occurs through online and offline channels to various end-users, including men, women, and kids.
The running shoes market research report is one of a series of new reports from The Business Research Company that provides running shoes market statistics, including running shoes industry global market size, regional shares, competitors with a running shoes market share, detailed running shoes market segments, market trends and opportunities, and any further data you may need to thrive in the running shoes industry. This running shoes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The running shoes market size has grown strongly in recent years. It will grow from $48.18 billion in 2023 to $51.3 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth observed in the historical period can be attributed to a preference for lightweight and comfortable shoes, an increased focus on stylish products, higher cell phone penetration influencing trends, increased sports participation, and a shift towards eco-friendly and sustainable materials in the production of running shoes.
The running shoes market size is expected to see strong growth in the next few years. It will grow to $64.22 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The anticipated growth in the forecast period can be attributed to the expansion of e-commerce, increasing penetration of mobile internet connectivity, growing environmental concerns influencing material choices, the increasing popularity of running and outdoor activities, and the rise of fitness trends. Key trends expected in the forecast period include partnerships among key players, the introduction of innovative solutions, technological advancements in running shoe design, the launch of high-performance products, and brand promotions through innovative marketing strategies.
The running shoe market is poised for growth, driven by the increasing number of sports and recreational activities. Recreational activities, conducted for exercise, relaxation, or pleasure, encompass a variety of outdoor pursuits such as walking, swimming, and playing games. Appropriate running shoes tailored to different activity styles are crucial for preventing injuries. In 2021, the Outdoor Foundation reported a record-breaking 164.2 million Americans engaging in outdoor recreation, a 6.9% increase from March 2020. This surge in sports and recreational activities propels the growth of the running shoe market.
The growing involvement in athletic activities is anticipated to further boost the running shoe market. Athletes, actively participating in sports and structured training, benefit from properly designed running shoes that enhance performance, comfort, and safety. In 2022, the National Collegiate Athletic Association observed a 5% increase in student-athletes competing in NCAA women's championship sports, rising from 215,466 in 2021 to 226,212 in 2022. This increase in athletic engagement contributes to the growth of the running shoe market.
A notable trend in the running shoe market is the emphasis on product innovations by major companies to fortify their market position. In June 2022, Under Armour Inc. introduced the UA Flow Synchronicity, its first female-specific shoe. Designed for female athletes using UA Flow technology, this innovative shoe prioritizes form, speed, rhythm, and the journey to compete. Incorporating customer insights and feedback, it offers a more comfortable, supportive, and responsive fit compared to traditional running shoes.
Forward motion technology is emerging as a key feature in running shoes, transforming foot strike impact into propulsion for a smoother stride. Adidas launched SWITCH FWD in August 2023, featuring an EVA compound midsole, TPU plate, and Continental outsole for enhanced comfort, secure cushioning, and reliable grip. The shoe's lightweight engineered mesh upper ensures breathability, making it a notable addition to the market.
In February 2022, Crocs Inc. made a significant move by acquiring Heydude for $2.05 billion. This acquisition is strategic for Crocs, aiming to expand its casual footwear brand portfolio and contribute to revenue growth, operating margins, and earnings per share. Heydude, known for producing various types of running shoes, aligns with Crocs' vision for market expansion.
Major companies operating in the running shoes market report are Salomon, Nike Inc., Adidas AG, VF Corporation, Puma SE, Skechers USA Inc., Under Armour Inc., New Balance Athletics Inc., ASICS Corporation, Deckers Brands, Columbia Sportswear Company, FILA Luxembourg S.a.r.l., Reebok International Limited, Mizuno Corporation, Brooks Running Co., The North Face Inc., Merrell, Vans Inc., La Sportiva SPA, Scott Sports SA, Saucony Inc., Vasque, Inov-8 Inc., Karhu Holding BV, Topo Athletic Inc., Pearl Izumi Inc., Lotto Sport Italia SpA, Newton Running Company, Altra Running, Zoot Sports.
North America was the largest region in the running shoes market in 2023. The regions covered in the running shoes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the running shoes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The running shoes market consists of sales of lightweight shoes, road running shoes, trail running shoes, training shoes, and zero-drop shoes. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Running Shoes Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on running shoes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for running shoes ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The running shoes market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.