Athletic Footwear Market Size, Share & Industry Analysis, By Product Type (Training Shoes [CrossFit/ Cross Training], Running Shoes [Performance], Lifestyle Shoes [Skateboarding], Outdoor Shoes [Trail], and Others), By End User (Men, Women, and Children), By Distribution Channel (Hypermarket/Supermarket, Specialty Stores/Sporting Goods Stores, Department Stores, Online Stores/E-commerce, and Others), and Regional Forecast, 2024-2032

The global athletic footwear market size was valued at USD 132.45 billion in 2023. The market is projected to grow from USD 138.72 billion in 2024 to USD 210.94 billion by 2032, exhibiting a CAGR of 5.38% over the forecast period. North America dominated the athletic footwear market with a market share of 34.19% in 2023.

Athletic footwear refers to shoes specifically designed for sports and physical activities, thereby offering comfort and performance. The athletic footwear market includes various products, such as running shoes, training shoes, and lifestyle shoes. Furthermore, various prominent brands are operating in the market, including Nike, Inc., Adidas AG, PUMA SE, New Balance Athletics, Inc., and Under Armour, Inc.

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MARKET DYNAMICS

Market Drivers

Increasing Participation in Sports Worldwide to Drive Product Demand

Ergonomically designed shoes are essential in helping an athlete achieve their best performance. The growing participation rate in outdoor sports activities, including cycling, skateboarding, and cricket, is expected to increase consumer spending on sports gear, including shoes and sports equipment. This will drive product revenues across many countries worldwide. According to the Australian Sports Commission, the number of sports club participants in Australia increased to 4.84 million in the financial year 2022-23, 22% up from the previous year. In addition, the rising number of amateur & professional sports clubs and governmental support toward the development of the sports infrastructure will augment the market growth during the forecast period of 2024-2032.

Regular Launches of Innovatively Designed Sports Footwear to Drive Market Growth

Manufacturers are increasingly offering innovative technology-based footwear products to encourage buyers to purchase them. 3D printing technologies have enabled manufacturers to produce custom-designed shoes. Continual efforts by manufacturers to produce embedded sensor-based athletic shoes to enhance users' sports performance will positively contribute to the future development of the market. In July 2020, ASICS Corporation presented a microcomputer-equipped running shoe, Evoride Orphe, at CES 2020. The product can provide real-time feedback about the user's running efficiency.

Market Restraints

Environmental Concerns Linked With Shoe Waste Generation Due to Counterfeit Products to Limit Market Growth

Rising generation of shoe waste is causing excessive emission of CO2 and greenhouse gases. As per I. R. Tubes, a global rubber chemical supplier, the production of one shoe can generate 30 pounds of CO2, with around 15 billion shoes being produced worldwide. Moreover, governmental organizations are concerned about the generation of greenhouse gases and landfill pollution due to the debris produced by the athletic shoe manufacturing process. In addition, fast fashion trends are leading consumers to use more unsustainable material-based footwear and generate waste. Increasing environmental concerns linked with waste generation from sports footwear due to the consumers' usage of counterfeit and fast-fashion footwear products is limiting the athletic footwear market growth globally.

Athletic Footwear Market Trends

Growing Preference for Eco-Friendly Sports Shoes to Provide Market Growth Opportunities

Utilizing eco-friendly materials in sports footwear design is a prominent manufacturing trend in many countries globally. A rising number of eco-conscious consumers prefer to use sustainable sports gear, which will favor the demand for athletic footwear worldwide. In addition, sustainability initiatives started by manufacturers, including the production of recycled material-based sports footwear, will positively contribute to the market’s development. Several prominent players are focusing on launching sustainable products. For instance, in 2021, Allbirds, a footwear company, invested USD 2 million in Natural Fiber Welding (NFW), and in 2022, it launched Plant Pacer sneakers made with MIRUM plant leather.

Impact of COVID-19

The sudden outbreak of the coronavirus affected the market in 2020 and 2021. Owing to concerns about the spread of this virus, lockdowns were imposed in 2020 across countries worldwide. All major sporting events and arenas across the globe were shut down, and all professional sports leagues were canceled in 2020, negatively impacting the market growth. The COVID-19 pandemic affected the global production and supply chain as all factories were shut down, and imports & exports across countries were closed during the lockdown in 2020.

SEGMENTATION ANALYSIS

By Product Type

Increasing Number of Marathons Boosted Demand for Running Shoes

The global market is segmented into training shoes [crossfit/ cross training], running shoes [performance], lifestyle shoes [skateboarding], outdoor shoes [trail], and others, based on product type.

The running shoes segment dominated the market in 2023 owing to rise in the popularity of outdoor activities. Moreover, rise in the number of marathons and growing participation of individuals in marathons in both developing and developed countries will further enhance the product demand.

The training shoes segment is expected to grow significantly throughout the forecast period. These shoes provide shock absorption, cushioning, and stability devices for protecting the ankles and feet, owing to which its demand amongst all age groups of individuals is growing significantly.

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By End User

Rising Sports Participation Among Men to Fuel Market Growth

The global market is segmented into men, women, and children, based on end user.

The men segment dominated the market in 2023 owing to rising sports participation among men and increasing product availability. In addition, a rising inclination of male consumers toward physical fitness and health has increased the adoption of athletic footwear worldwide.

The women segment is expected to grow significantly in the coming years. The rise in participation of women in sports and physical fitness activities globally has encouraged manufacturers to produce comfortable, supportive, and protective athletic footwear for women. According to the International Olympic Committee, the number of women who participated in the Olympic Games increased from 34% of the total in Atlanta in 1996 to a new record of 48% in Tokyo in 2020.

By Distribution Channel

Extensive Product Availability Increased Customer Footfall in Hypermarkets/Supermarkets

The market is segmented into hypermarket/supermarket, specialty stores/sporting goods stores, departmental stores, online stores/e-commerce, and others, based on distribution channel.

The hypermarket/supermarket segment dominated the market in 2023 due to the extensive availability of athletic footwear. Hypermarkets/supermarkets usually cover a large area and display various brands under one roof. Furthermore, they provide a great shopping experience to consumers and also provide promotions and discounts during weekends, holidays, and special occasions to attract consumers.

The online stores/e-commerce segment is expected to grow significantly throughout the forecast period. The growing popularity of online shopping and availability of attractive discounts will fuel the segment’s growth. Moreover, the increasing popularity of online sales channels among individuals will drive the segment’s growth.

Athletic Footwear Market Regional Outlook

Geographically, the global market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

North America

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North America dominated the market in 2023 owing to rising disposable incomes of consumers. The rising awareness regarding health & wellness and growing interest in playing sports, such as golf, football, baseball, and others, among all age groups is the major reason for the increase in athletic footwear sales in the region. According to the National Golf Foundation, about 25 million people played golf on a golf course in the U.S. in 2020. It is nearly 8% of the total population of the U.S.

The U.S. is the most prominent country in the region owing to the presence of key sportswear brands and the growing number of sports participants. Additionally, awareness is increasing among American consumers regarding health and wellness, which has led to an increased participation in physical activities and sports. This trend is particularly strong among women and younger demographics in the U.S., who are prioritizing fitness as part of their lifestyle choices.

Asia Pacific

Asia Pacific is expected to grow significantly throughout the forecast period. Increasing economic growth in countries, such as China, India, and others will play a crucial role in driving the product demand. Higher disposable income signifies that consumers have more financial freedom to spend on non-essential and luxury goods, including footwear. This is expected to influence the product’s demand in Asia Pacific. Furthermore, as health awareness rises among the Chinese population, more individuals are participating in sports and fitness activities. This shift will drive the demand for specialized products equipped with the latest technologies designed for specific sports or fitness routines.

Europe

Europe is expected to grow significantly throughout the forecast period. The rising population and high living standards due to increasing disposable income of consumers in the region will contribute to the product’s sales. In addition, rising demand for eco-friendly and sustainable products amongst European consumers will further drive the market’s growth. The increase in the trend of trekking/camping, cycling, and others among consumers is further anticipated to fuel the product’s demand. Furthermore, the growing awareness about health & fitness and increasing number of sports clubs in the region are the major factors boosting the demand for innovative, comfortable, and affordable athletic footwear.

South America

South America is expected to grow considerably throughout the forecast period. The growing product demand in countries, such as Brazil, Argentina, Chile, and others highlights a combination of several factors, including rising local manufacturing, innovation in footwear products, expansion of online sales channels, fashion trends, rising number of sports participants, and many others. Furthermore, the growing number of women participants in sports and physical wellness activities in the region will further increase the product sales.

Middle East & Africa

The Middle East & Africa is expected to grow considerably throughout the forecast period. The popularity of these footwear is increasing in the region, particularly due to rapid urbanization and the increasing regional population. Furthermore, there is a rapid growth in digitization and more individuals are adopting digital technologies, which will further bring more opportunities for business growth through digital media.

COMPETITIVE LANDSCAPE

Key Market/Industry Players

Prominent Players Focusing on New Product Launches to Diversify Their Portfolios

Intense competitive rivalry characterizes this market. Internationally known market players leverage their strong brand loyalty and presence to stay ahead of the competition. Several of them are focusing on launching new products to diversify their portfolios. For instance, in September 2023, Adidas, a Germany-based sports apparel & footwear company, launched its new running shoes, Adizero Adios Pro Evo 1.

Major Players in the Athletic Footwear Market

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Nike, Inc., Adidas AG, PUMA SE, New Balance Athletics, Inc., and Under Armour, Inc. are the prominent players in the market. The global athletic footwear market is fragmented, with the top 5 players accounting for around 43% of the market share.

List of Key Athletic Footwear Companies Profiled:

• Nike, Inc. (U.S.)


• Adidas AG (Germany)


• Mizuno Corporation (Japan)


• PUMA SE (Germany)


• Under Armour, Inc. (U.S.)


• Deckers Outdoor Corporation (U.S.)


• FILA Holdings Corporation (South Korea)


• On Holding AG (Switzerland)


• New Balance Athletics, Inc. (U.S.)


• Lululemon Athletica Inc. (Canada)

KEY INDUSTRY DEVELOPMENTS:

• September 2024: Adidas Group, a Germany-based footwear and apparel company, announced the launch of its two flagship stores in Los Angeles, U.S.


• August 2024: Puma, a Germany-based sports apparel & footwear company, launched its new running shoes, Fast RB NITRO Elite. According to the company, the new shoe features 58mm of NITROFOAM Elite.


• July 2024: American Exchange Group acquired global footwear brands, Island Surf Company and White Mountain Footwear to expand its presence in the high-performance athletic footwear category.


• June 2024: Authentic Brands Group signed a definitive acquisition agreement with Champion, an athletic footwear brand, and the businesses from HanesBrands to expand its business in the newer sports categories of footwear.


• January 2024: Under Armour, a U.S.-based sports apparel & footwear company, launched its new training shoes, UA Infinite Elite. According to the company, the new shoes are designed for men and women.

Investment Analysis and Opportunities

The market report provides comprehensive investment analysis and opportunities in the athletic footwear industry to provide investors and business leaders with actionable insights. The report also highlights potential investment opportunities, including new product launches, increasing production capacity, strengthening retail presence, technological advancements, material innovation, and geographic expansions.

REPORT COVERAGE

The report analyzes the market in depth and highlights crucial aspects, such as prominent companies, product type analysis, end users, and distribution channels. Besides this, it also provides insights into the market trends and highlights significant industry developments.

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Report Scope & Segmentation