Global Sports Shoes Market By Gender (Men, Women, and Kids), By Retail Channel (Online and Offline), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Sports Shoes Market Overview:

The market for sports shoes worldwide was estimated to be worth USD 19,000 million in 2021 at a CAGR of 4.8% over the forecast period.

Global Sports Shoes Market

Gender Analysis

In 2021, men’s shoes accounted for over 50.0% of the overall revenue. It is expected that the segment will continue to lead over the forecast period. Due to increasing popularity and participation in various sports at national and international levels, including in South Africa, China, and Brazil, the women’s shoe market is slowly catching up.

In developed countries such as India or China, there is a significant increase in women taking part in sporting events, both at the national and international level, as well as in countries such as the U.S. and Australia. The forecast period will see a growing awareness of health and an increase in women’s participation in sports events.

Retail Channel Analysis

In 2021, the offline channel was the largest, accounting for more than 80.0% of global revenues. The market is expected to grow with the opening of more sports retail outlets in Brazil and India. Adidas AG, a German sportswear company, will open 3,000 new shops in China in 2020.

The company’s global business will be boosted by raising awareness and spending power in India. Under Armour opened 10 stores across India at the end of 2019. A rise in outlets will aid companies in closing the gap between consumers, and companies, and will positively impact market growth.

Although the offline channel sold the largest number of sports shoes worldwide, the eCommerce channel is rapidly gaining popularity. In the U.S., online retail accounted for 25.4% of the market share in 2021. This market share for online retail was greater than in any other country. Due to the increasing penetration of the internet in different countries, online sales have seen significant growth over the past few years.

The segment is also being driven by online retailers like Amazon, Walmart, Ace Turtle Services Private Limited, Decathlon, Ace Turtle Services Private Limited, and DICK’S Sporting Goods. Online retail channels are used widely in developed countries, such as the U.S., Germany, or U.K. to purchase consumer durable goods. They are expected to become a reliable revenue source for manufacturers of sports footwear over the forecast period.

E-commerce platforms in emerging markets, including India, are driving manufacturers to change their retail strategies.

Market Key Segments

Gender

•  Men
•  Women
•  Kids

Retail Channel

• Online
• Offline

Market Dynamics

The increasing participation of schools in sports activities all over the globe is driving the market. The increased participation can be attributed largely to increasing campaigns by professional leagues and sports governing bodies, such as the Major League Baseball (“MLB”), National Football League [NFL], Western Hockey League(WHL), and Indian Premier League (IPL).

To improve the lives and well-being of children through sports and other physical activities, grants from the Canadian government are available to schools, colleges, and municipal corporations. The demand for shoes and protective gear has increased due to increasing awareness about health and fitness.

There has been an increase in international and national events around the world, raising awareness about sports participation. This has resulted in a rise in shoe adoption over the forecast period. To gain a competitive edge and expand their customer base, many shoe manufacturers sponsor events at the international and national levels.

Adidas was an example of a company that sponsored the FIFA World Cup. Nike and Under Armour, two of the most well-respected companies, are also official suppliers to Rio, Brazil. Soon, the demand will grow for sports shoes due to an increase in sports events.

Many initiatives are being undertaken by key manufacturers and government agencies around the globe to increase physical activity, including outdoor and indoor games. The President’s Council on Sports, Fitness & Nutrition (PCSFN) has initiated the Sport for All initiative. It aims to educate Americans about the health benefits associated with playing sports.

In order to satisfy consumer demands, top manufacturers are investing in the development of new products. To improve comfort and performance, manufacturers use 3D technology. Advanced shoes can be made from a variety of materials including knitted fabric, innovative material, and carbon fiber.

To increase their market share in sport’s shoes, many manufacturers are now focusing on creating custom products. Innovative and new products are being introduced to replace older products. These products are lighter and more durable. Manufacturers will have a growth opportunity in the future.

Regional Analysis

The Asia Pacific dominated 2021’s global market with a 35.0% revenue share and will continue to enjoy significant growth in the future. The popularity of different sports like cricket, football, and badminton is driving the market.

Market growth has been influenced by the increasing penetration of different leagues, such as IPL and Premier Kabaddi League, Premier Badminton Leagues, Indian Hockey Leagues, and Indian Super League. The market growth is also expected to be boosted by the increased participation of parents in sporting activities.

The U.S. had the largest share of the North America Market for 2021 American football is becoming more popular all over the world. These sports are a part of American culture and bring people together regardless of their race, culture, or religion. NFL owners are holding events at various locations in the U.S., Mexico, and Canada to increase public awareness. This will provide opportunities for growth for the market.

In the coming years, Africa and the Middle East are expected to be prominent regional markets. Sports shoes are expected to be more in demand because of their rising popularity and increasing awareness.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share Analysis

The market for shoes for sports has seen a rise in demand due to the growing spending power and income of the middle-class and upper-middle-class. This has led to increased competition among players. In order to increase their customer base, the market players are focusing on creating durable and innovative products.

Multinational and regional companies are present in the global market. Nike, Inc., Adidas Group, MIZUNO Corporation, Puma SE, and MIZUNO Corporation are just a few of the players on the global market.

Market Key Players

• Рumа
• Аdіdаѕ Grоuр
• Nеw Ваlаnсе
• Nіkе
• Ѕkеtсhеr
• МІZUNО
• Asics
• К-Ѕwіѕѕ
• Other Key Players

For the Sports Shoes Market research study, the following years have been considered to estimate the market size: