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Sports Footwear Market Size to Reach USD 142.40 Billion by 2026; Supportive Government Initiatives to Promote Sports and Recreational Activities Will Foster Growth

February 20, 2020 | Consumer Goods

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 Australian National Cricket Census states an estimate of 1.56 million Australians are actively engaged in Cricket activities and tournaments. Cricket participation witnessed a string growth from both males and females.

  • Sports Club Survey (Sports and Recreation Alliance, U.K.) estimates the standard number of juniors taking part based on per club has increased by 5% as per 2017 records.

  • The government of India is taking efforts to encourage sports in schools by providing free coaching classes for enthusiasts, and conducting competitions on various regional and state levels offering monetary benefits as rewards.

  • The U.S. Bureau of Labor Statistics assumes an average investment of 5.7 hours into sports activities by men, which is more compared to the 4.9 hours of investment among women. This indicates a rise in the participation of women in sports activities.

  • Neilson Sports Survey estimates an approximate 51% sports fans who are interested in male sports and about 84% in women’s sports.


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.


To Get the detailed report summary and research scope of this market, click here


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


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:



  • April 2017 – Adidas partnered with Carbon, a California-based startup for manufacturing 3D printed shoes.

  • August 2018 – First Bio-based sports shoe was launched by Reebok consisting of 75% plant-based fibers such as cotton and corn.


Significant Sports Footwear Market Manufacturers include:



  • Diadora S.p.A.

  • Reebok

  • Armor Inc.

  • MIZUNO Corporation

  • Nike Inc.

  • ASICS

  • Converse

  • Sketchers, USA Inc.

  • Puma SE

  • Adidas Group


Further Report Findings



  • Asia Pacific emerged as the fastest-growing region on account of rise in consumer expenditure and higher disposable incomes of people. This is especially prevalent in nations such as Japan, India, Australia, China, South Korea, and others.

  • North America is anticipated to witness a considerable sports shoe market share with the U.S. leading the region on account of high reference for outdoor sports and adventurous activities by the regional population. In 2018, this region generated a sports footwear market revenue of USD 41.12 billion.

  • With respect to segmentation by gender, the men segment owned 32.45% of the market share. This is attributable to the increasing inclination of men towards sports and physical activities.


The global Sports Shoes Market is segmented into:











































 ATTRIBUTE


 DETAILS

Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Million)



Segmentation



By Gender



  • Men

  • Women

  • Kids



By End-User



  • Professional Users

  • Recreational Users



By Distribution Channel



  • Online

  • Offline



By Region



  • North America (the U.S., Canada, and Mexico)

  • Europe (Germany, France, U.K., Spain, Italy, Russia, and the Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and the Rest of Asia Pacific)

  • South America (Brazil, Argentina, and the Rest of South America)

  • Middle East & Africa (South Africa, UAE, and the Rest of the MEA)


Sports Footwear Market
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  • 2018
  • 2015-2017
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