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The global sports footwear market size was USD 102.76 billion in 2019 and is projected to reach USD 77.52 billion by 2027, exhibiting a CAGR of 4.1% during the forecast period (2020-2027).
Sports footwear is mainly designed for active sports or other kinds of physical exercises. It is essential for sportsperson as it provides flexibility, stability or motion control, traction on roads, torsional stability, and other benefits. Demand for sports shoes is increasing at a tremendous rate owing to the rising number of sports tournaments.
Moreover, sports such as cricket, football, hockey, golf, ball sports, and others are witnessing huge participation, which in turn, is propelling the market growth. According to the Football Association (The FA), Football and Soccer have been actively witnessing participation from males as well as females. For instance, about 6,767 affiliated female football teams were reported by The FA in 2017-2018 that has increased from 6,000 teams in the previous year in England. Therefore, the rise in the number of sports participation is likely to support the global market.
Strict Bans Imposed on Sporting Events During the Covid-19 Pandemic has Severely Affected Market Growth
Physical distancing is the best preventive measure to limit the coronavirus spread. Therefore, activities that involved crowd gatherings were completely stopped by local governments worldwide during the pandemic. Major sports events such as the Olympics, FIFA, and others scheduled in 2020 are postponed or canceled. Sports academies, as well as clubs all were shut down in response to governmental regulations. Moreover, schools and colleges also were closed down and have not reopened yet in the majority of the countries limiting sports activities in these institutions. Therefore, the lockdown rules severely impacted the sports footwear industry.
Moreover, activities such as running, hiking, cycling, and biking were also limited by sporting enthusiasts due to these challenging conditions. Closures of sports retail stores, as well as restrictions on online sale of non-essential items, also showed a negative market impact. Therefore, a decline in product demand was witnessed due to shelter-in-place orders. For instance, as reported by The Hindu Business Line in May 2020, exports of this type of footwear from India decreased by 37% in March 2020.
However, few sports competitions such as football 2020 K League, cricket, and tennis are being allowed in certain countries while following all protective measures. Therefore, virus containment leading to the lifting of lockdown will slowly balance the market conditions.
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Eco-friendly Shoes are an Increasing Trend in the Global Market
The use of environment-friendly raw materials to manufacture sports shoes is one of the major market trends that will positively impact market growth. By focusing on the preservation of the environment, there is a rising demand for sustainable sports footwear among consumers. Furthermore, various manufacturers are taking efforts to cater to the customers’ needs and are constantly focusing on manufacturing sustainable and eco-friendly sports types of footwear. For instance, in April 2019, Adidas launched its first environmentally friendly 100% recyclable running and walking shoes.
Greater Participation from Kids to Promote Market Growth
The global market is expected to witness significant growth during the forecast period 2020–2027, owing to greater sports participation by kids and teenagers. Nowadays, most of the young population is engaged in sports activities to keep themselves fit and healthy. For instance, in 2017, around 56.5% of kids participated in team sports in America. Furthermore, the demand for sports-type of footwear is at a high spur owing to the increasing awareness regarding sports, increasing involvement of countries in different sports and games, and rising preference for fitness among kids.
Increasing Participation in Physical Activities and Sports to Bode Well for the Market
Increasing chronic diseases due to lack of exercise and the growing health-conscious population, especially in urban regions, is driving the global market. Rising focus on gym and sports infrastructure in various emerging countries is likely to increase the demand for several sports footwear product types. According to the Sports Club Survey (Sport and Recreation Alliance, U.K.), the average number of junior participating members per club increased by 5% in 2017.
Furthermore, increasing awareness regarding health and fitness has subsequently led to an increase in the number of participants engaging in physical activities and sports, thereby showing a positive growth in the market. Additionally, rising innovation in sports shoes, such as increased functionality and lightweight shoes for running, is influencing the growth of the market. In order to target more consumers, manufacturers are providing customizable options for fast-moving preferences.
Increasing Government Initiatives will Support the Growth of the Market
Increasing purchasing power and rising disposable income of consumers has increased the spending on sports type of footwear and thereby have propelled the growth of the market. Rising income level has resulted in a willingness to pay extra for several performance characteristics such as waterproof quality, moisture management, temperature control, and friction regulation. Additionally, an increasing number of retail outlets, along with hypermarkets and supermarkets, is expected to help the sports shoes market gain impetus in the forecast period.
The global, regional, and local government bodies are focusing on health and new strategies to draw people's attention towards the benefits of physical activities. Government bodies across several developed countries are constantly engaged in the process of establishing effective healthcare offerings. This would simultaneously increase the business of sports footwear, as a significant portion of the population will be inclined towards sports and fitness activities. Moreover, government bodies are focusing on educating students about fitness and sports activities in schools and universities by organizing sports tournaments and free coaching. These initiatives will fascinate the students and encourage them to participate in sports activities. For instance, in December 2017, the government of India took a great effort to encourage sports at the school level by offering certain monetary benefits and providing free sports coachings. Therefore, this kind of initiative will boost the future of sports and provide an impetus to the growth of the sports footwear market.
Availability of Low-cost Local Products to Limit the Demand for Branded Footwear
Fewer sports opportunities and lower penetration of high-cost products in rural areas, as well as low-income courtiers, limit market expansion. Moreover, the availability of low-cost counterfeit products, as well as the emergence of several small-scale players have posed challenges to high-cost branded footwear.
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Men Gender is Expected to Hold a Major Share Owing to Greater Sports Participation Rate
The men segment is expected to hold more than 50% of sports footwear market share owing to a large number of male population inclined towards sports and other physical activities. According to the U.S. Bureau of Labour Statistics, on an average, in a day in 2018, men spent around 5.7 hours in sports activities, while women were engaged for 4.9 hours. The rising participation of females in various sports activities at national and international levels at a younger age as well as encouragement in schools and colleges for women is propelling the growth of women's sports footwear. According to the Nielsen Sports Survey, approximately 84% of sports fans are interested in women’s sports, whereas 51% in males sports. Additionally, the increasing involvement of women in several sports activities is likely to support the growth of the global market.
Recreational Users to Hold a Significant Share
Recreational users are anticipated to hold the largest share in the global market. Recreational users are the ones who participate in sports mainly for being physically fit, for enjoyment & entertainment, or to socialize. Professional users play sports for participation in competitions and have a winning perspective. Therefore, the health-conscious population tends to play sports majorly for being fit and active; which, in turn, is expected to boost the recreational user segment.
Offline Segment to Support the Growth of the Global Sports Footwear Market
The offline segment is expected to lead the sports shoe market. This segment includes retail stores such as supermarkets, brand outlets, and discount stores. Some of the prominent companies are aiming to open retail stores in the developing economies to expand their geographical presence and increase the customer base. For instance, in October 2019, PUMA, the largest sportswear brand, opened its first redesigned and interactive retail store in India.
The online segment is expected to be the fastest-growing owing to the increasing internet users and easy availability and accessibility of the wide range of products at a reasonable price.
North America Sports Footwear Market Size, 2019 (USD Billion)
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North America is Projected to be Largest Market Owing to Greater Sports Popularity
North America holds a major share in the sports shoe market that was valued at USD 42.89 billion in 2019 owing to the growing popularity of sports and other similar activities. Moreover, the U.S. is considered as the leading country in the footwear sports market in North America. Most of the population prefers outdoor sports and adventurous activities which is likely to show a positive impact on market growth.
Additionally, the rising health concerns and health awareness amongst the Canadian consumers are likely to attract high sports shoes market revenue. Most of the consumers are looking at the products and services to help and maintain their health. It has been predicted that around 31% of Canadian consumers are willing to pay for health-enhancing products. This further results in the growth of the market during the forecasted period. Furthermore, the government of Canada is helping various sports organizations by providing funds. For instance, in 2017-2018, Sport Canada Program provided approximately USD 3.4 million to promote participation in sports for children and youth through various organizations.
Asia Pacific is estimated to be the fastest-growing region during the forecast period 2020–2027 owing to increasing sports participation in countries such as India, China, Australia, Japan, South Korea, and others. People in these countries are increasingly spending on sports footwear to show their active participation in activities. The increasing consumer expenditure, supported by strong economic growth and higher disposable income, is likely to drive the growth of the global market in this region. India is considered to be one of the youngest nations across the globe, with approximately 65% of the population under 35 years of age. Additionally, the growing younger population who are largely inclined towards sports and fitness activities, especially in India, is supporting the growth of the market.
The government of India is significantly investing in programs to support youth participation in sports and physical activities through various platforms such as “Khelo India.” For instance, in January 2019, Maharashtra bagged the trophy at Khelo India youth games with 10K participants and 5,925 athletes. Therefore, the rising government support by introducing several schemes and programs regarding the sports to motivate the young generation and increase the participation in various sports activities is flourishing the growth of the market in the Asia Pacific.
The Middle East region is expected to exhibit a substantial growth rate in the coming years to the increasing government support. For instance, in April 2018, the government of UAE approved a law that allows all UAE residents to participate in national sports competitions held in the country. Furthermore, this law is mainly applied to the UAE passport holders, children of Emirates, and all those who are born in UAE.
Major Players to Focus on Innovative and Durable Products for Expansion of Customer Base
The global market includes several key players, few of them includes Nike Inc., Adidas Group, MIZUNO Corporation, Puma SE, Armor Inc., Skechers, USA Inc., Reebok, Converse, Diadora S.p.A., and ASICS corporation.
Some of the manufacturers are mainly focusing on launching innovative and advanced products that may fulfill the customer’s requirement. For instance, in March 2018, Reebok launched a Fast Flexweave running shoe which mainly features Flexweave, the latest cutting-edge technology.
The growing sports population and physical fitness trends are driving the growth of the global market. Additionally, rising health consciousness, the presence of a large number of manufacturers, and government support are propelling the market growth.
The report provides qualitative and quantitative insights on the sports shoe market and detailed analysis of market size and growth rate for all possible segments in the market.
An Infographic Representation of Sports Footwear Market
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Along with this, the report provides an elaborative industry analysis of the key market dynamics and competitive landscape. Various key insights provided in the report are the overview of related markets, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, and key industry trends.
Value (USD Million)
By Distribution Channel
Fortune Business Insights says that the global sports footwear market was USD 102.76 billion in 2019 and is projected to reach USD 77.52 billion by 2027.
Growing at a CAGR of 4.1%, the market will exhibit steady growth in the forecast period (2020-2027)
The men segment is expected to be the leading segment in the market during the forecast period.
The increasing health-conscious population, increasing a number of sports players, and rising income levels are driving the growth of the market.
Nike Inc., Adidas, Reebok, and others are the key players in the market.
North America is expected to hold the highest market share in the market in 2019.
Recreational users are expected to grow at the fastest pace during the forecast period.
Increasing concern for fitness, rising disposable income, and an increasing number of athletes are the key market trends that are driving the growth of the market.
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