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Sports Footwear Market to Exhibit 4.8% CAGR till 2028; Rising Participation in Sports Activities by Teenagers and Kids to Augment Demand Worldwide

August 03, 2021 | Consumer Goods

The global sports footwear market size is projected to grow from USD 97.42 billion in 2021 to USD 134.99 billion in 2028. The surging participation in sports activities by teenagers and kids is set to propel growth. The National Federation of State High School Associations mentioned that around 7,937,491 students in the U.S. participated in high school sports during 2018-2019. Fortune Business Insights™ provided this information in a study, titled, “Sports Footwear Market Size, Share & COVID-19 Impact Analysis, By Gender (Men, Women, and Kids), End-User (Professional Users and Recreational Users), Distribution Channel (Online and Offline), and Regional Forecast, 2021 - 2028.” As per the study, the market stood at USD 93.57 billion in 2020. It is set to exhibit a CAGR of 4.8% during the forecast period in 2021-2028.


FILA Introduces V94M and Grant Hill 3 Limited-edition Silhouettes on its Website


In July 2020, FILA, a leading sportswear manufacturer based in Italy, released its latest GH3ONE3 Collection exclusively for FILA.com. It contains two limited-edition silhouettes, namely, V94M and Grant Hill 3. The sports footwears pay homage to the uniform that the former professional basketball player wore for his Detroit game. They feature suede and fine leather overlays, as well as custom herringbone traction elements and a cushioned EVA midsole. As per a company official, “Our partnership with Hill started in 1994, and our new range was specially designed for fans to provide them with a modern version of this legendary silhouette with custom colors.” Such initiatives by companies would contribute to the high demand for sports shoes.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/sports-footwear-market-102216


Increasing Investments in Sports by Government Bodies to Bolster Growth


The increasing number of supermarkets and retail stores across the globe would help people to get access to sports shoes very easily. Besides, their willingness to pay more for novel features, such as friction regulation, waterproof quality, temperature control, and moisture management, would accelerate the sports footwear market growth in the near future. At the same time, regulatory bodies of various countries are taking initiatives to encourage people to participate in physical activities on account of their beneficial properties. Hence, they are investing huge amounts in sports. PRS India.Org, for instance, declared that the Ministry of Youth Affairs and Sports invested around USD 314.8 million in 2019-2020. However, the availability of counterfeit products that are pocket-friendly would hamper growth.


Major Participants Aim to Use Eco-friendly Materials for Competing with Their Rivals


This market possesses multiple organizations focusing on launching new products featuring cutting-edge technologies and sustainable raw materials to cater to the high demand from customers across the globe. A few others are also participating in strategic collaborations and acquisitions to gain a competitive edge.


Fortune Business Insights™ lists out the renowned sports footwear companies operating in the global market. They are as follows:



  • Nike Inc. (Beaverton, U.S.)

  • Adidas Group (Herzogenaurach, Germany)

  • MIZUNO Corporation (Chiyoda City, Japan)

  • Puma SE (Herzogenaurach, Germany)

  • Under Armour, Inc. (Baltimore, U.S.)

  • Skechers, USA Inc. (Manhattan Beach, U.S.)

  • Fila Holdings Corp (Seoul, South Korea)

  • Converse (Boston, U.S.)

  • Diadora S.p.A. (Caerano di San Marco, Italy)

  • ASICS Corp. (Chuo City, Japan)


A Notable Industry Development-



  • August 2018: Reebok introduced its first sports shoe made from cotton and corn to fulfill its aim of using only sustainable materials in its products. The ‘NPC UK Cotton and Corn’ shoes contain 75% of plant-based fibers. The insoles were made out of castor bean oil.


Further Report Findings-



  • In 2020, North America held a global sports footwear market share of about USD 38.99 billion in terms of revenue. The expansion of the e-commerce industry would aid growth in this region. According to the United Nations Conference on Trade and Development, in 2018, business-to-consumer e-commerce sales were USD 1,098 billion in the U.S.

  • In Asia Pacific, the market for sports shoes is expected to grow at a fast pace because of the popularity of a wide range of sports activities, such as basketball, cricket, and football. The Hindu Business Line, for instance, stated that the Indian Premier League’s brand value increased by 7% in 2019.

  • Based on gender, the men segment procured more than 50% share globally and China. The rising participation of men in physical and sports activities is set to boost the growth of this segment. But, nowadays, women are also increasingly participating in international and national levels of sports. For instance, the Olympic.Org declared that around 41% of females participated in the PyeongChang 2018 Olympic Winter Games.


The global industry can be segmented in this way:














































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD Billion)



 By Gender




  • Men

  • Women

  • Kids



 By End-User




  • Professional User

  • Recreational User



 By Distribution Channel




  • Online

  • Offline



By Regionn



North America (By Gender, End-User, Distribution Channel, and by Country)



  • U.S. (By Gender)

  • Canada (By Gender)

  • Mexico (By Gender)


Europe (By Gender, End-User, Distribution Channel, and by Country)



  • Germany (By Gender)

  • France (By Gender)

  • Italy (By Gender)

  • Spain (By Gender)

  • The U.K. (By Gender)

  • Rest of Europe (By Gender)


Asia Pacific (By Gender, End-User, Distribution Channel, and by Country)



  • China (By Gender)

  • India (By Gender)

  • Japan (By Gender)

  • Australia (By Gender)

  • Rest of Asia Pacific (By Gender)


South America (By Gender, End-User, Distribution Channel, and by Country)



  • Brazil (By Gender)

  • Argentina (By Gender)

  • Rest of South America (By Gender)


The Middle East and Africa (By Gender, End-User, Distribution Channel, and by Country)



  • South Africa (By Gender)

  • UAE (By Gender)

  • Rest of the Middle East and Africa (By Gender)


Sports Footwear Market
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  • 2017-2019
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