Report: Global Athletic Footwear Market Predicted to Top $95.1B By 2025
Tuesday, May 15, 2018 at 11:27AM
NYSportsJournalism.com in Finances, Nike, Sports Footwear, Under Armour, adidas, research, sports marketing

By Barry Janoff

May 14, 2018: Sports shoe business is big business, especially when it is being propelled by the feet of LeBron James, Stephen Curry, Kevin Durant, James Harden and Michael Jordan.

The global athletic footwear market size was valued at $64.3 billion in 2017 and is expected to reach more than $95.1 billion by 2025, according to a new report from Grand View Research, San Francisco.

The athletic footwear category in China alone is an estimated $10 billion business and could top $15 billion by 2025.

Key players in the industry are led by Nike, adidas, Under Armour, Skechers, New Balance and Puma, which are driving the category not just with new styles but also innovation, which is both the catalyst and the response to a growing awareness among consumers, especially younger demographics, regarding health and fitness.

“People are increasingly realizing the importance of using appropriate type of shoes for sports activities in order to prevent muscle injuries, leg injuries, knee pain, hip pain, and back pain,” according to Grand View Research.

“As a result, the demand for athletic shoes is expected to register a sharp rise over the coming years.

The report covers such shoe categories as running, sports, aerobic, walking and trekking.

Running shoes are anticipated to register the highest shipments by 2025 at around 392 million units.

The kids segment is “poised to exhibit the highest (growth) in terms of revenue during the forecast period at 6.3% .

“(Shoe companies) are focusing on developing innovative technologies to increase the stability of sports shoes and make them comfortable,”  according to Grand View Research.

“The market is estimated to witness considerable growth over the forecast period owing to growing global population, rising awareness regarding health benefits, and active participation in fitness activities and global sports events.”

Major global sports events “play an imperative role in fueling demand for athletic footwear,” including the Olympics, ICC Cricket World Cup, NBA, FIFA World Cup and The Championships: Wimbledon.

“It has been observed that the market witnessed a higher growth rate during the years when Olympics (both summer and winter) took place, that is during 2012, 2014, and 2016, owing to training and participation of aspiring as well as established athletes and sportspersons,” according to Grand View Research.

“Growing enthusiasm and awareness regarding health benefits of sports and fitness activities, flourishing retail e-commerce sector worldwide, and rising levels of disposable income of consumers are estimated to be the key trends stoking market growth,” according to Grand View Research’s recently released Athletic Footwear Market Size, Share, & Trends Analysis Report By Category.

In addition, “Youngsters are getting keen on adopting a healthy lifestyle and are hence participating actively in sports and other related activities. At the same time, people have started realizing that sports and fitness activities can help ensure good health and reduce the risk of chronic disorders such as depression, cardiovascular diseases, and diabetes.”

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