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The global sports footwear market size is anticipated to reach USD 142.40 billion by 2026, on account of the increasing popularity of sports activities on a worldwide basis. Fortune Business Insights™ presents this information in the report titled, “Sports Footwear Market Size, Share & Industry Analysis, By Gender (Men, Women, and Kids), End-User (Professional Users and Recreational Users), Distribution Channel (Online and Offline), and Regional Forecasts, 2019 – 2026.” According to the report, the market size was USD 98.70 billion in 2018, which is anticipated to grow at a CAGR of 4.8% within the forecast period of 2019 to 2026.
World Statistics on Sports Footwear
The statistics above indicate an upsurge in sports and recreational activities irrespective of age or gender. This rise in sports activities worldwide is anticipated to promote the sports footwear market growth during the forecast period.
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Rise in Inclination towards Health and Fitness will Propel Growth
Various factors are responsible for the upward motion of the athletic footwear market. Firstly, the rising prevalence of chronic diseases, which results from lack of exercise and the adoption of a sedentary lifestyle are driving the growth of the market. Secondly, the rising popularity of health and fitness and the upcoming sports and gym infrastructure all around the world will also boost the market. Thirdly, the government is also supporting the promotion of sports and recreational activities by introducing sports championships and tournaments in schools and colleges on regional as well as state level.
Additionally, the trending culture of sports and physical fitness is propelling the demand for lightweight and functional shoes for specific running purposes that are likely to add impetus to the market.
Launch of Environment-friendly Products Will Set New Competitive Standards Among Players
Major sports footwear market manufacturers are focusing on product innovation that will attract more consumers and ultimately increase the overall sports footwear market revenue in the forecast period. Apart from this, companies are taking initiatives to promote environment-friendly products and this will help the market gain traction in the long run. Furthermore, some vendors have introduced customized shoe service which is likely to create lucrative growth opportunities in the foreseeable future.
Significant Industry Developments of the Internet of Medical Things (IoMT) Market include:
Significant Sports Footwear Market Manufacturers include:
Further Report Findings
The global Sports Shoes Market is segmented into:
Value (USD Million)
By Distribution Channel