Health and Wellness is fastest growing segment fueling the growth of Athletic Footwear Market

 



The global Athletic Footwear Market is estimated to be valued at US$ 92304.28 Mn in 2023 and is expected to exhibit a CAGR of 1.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Athletic footwear includes shoes designed for sporting activities and exercise. They provide features like enhanced breathability, flexibility, support, cushioning and durability needed for activities like running, basketball, football etc. Athletic footwear helps improve performance by providing traction, stability and comfort.

Market key trends:

One of the key trend gaining traction in the Global Athletic Footwear Market Size is the increasing demand for lightweight shoes. Athletic shoes are being designed to be lighter for better performance during high intensity workouts and games. Lightweight shoes reduce fatigue and enhances speed, endurance and agility. Manufacturers are utilizing advanced materials like Phylon and engineered mesh which are lighter than regular foam and fabrics offering similar cushioning and breathability at reduced weight. The growing popularity of lifestyle and casual athletics is also driving the demand for lightweight athletic footwear.

Segment Analysis

The global athletic footwear market is segmented based on the type, user, distribution channel, and geography. Based on the type, the market is divided into running shoes, soccer/football shoes, tennis shoes, cross training/basketball shoes, walking/hiking shoes, and others. The running shoes segment dominates the market due to the high popularity of running activities among individuals for fitness and health purposes.

Key Takeaways

The global athletic footwear market is expected to witness high growth, exhibiting a CAGR of 1.8% over the forecast period, due to increasing health and fitness consciousness among individuals worldwide.

Regional analysis

North America dominates the global athletic footwear market and is expected to continue its dominance over the forecast period owing to rising sports culture and increasing trend of fitness activities in countries like the US and Canada. Increasing participation in sports and fitness activities is also fueling the growth of the athletic footwear market in the Asia Pacific region. The region is expected to witness the fastest growth over the forecast period.

Key players
Key players operating in the athletic footwear market are Nike, Inc., Adidas Group, Crocs, Inc., Wolverine World Wide, Inc., Skechers U.S.A., Inc., Under Armour, Inc., Puma AG, Geox SpA, K- Swiss, and New Balance. Nike dominates the global athletic footwear market due to their strong brand image and extensive distribution network worldwide.

Read More : https://www.rapidwebwire.com/athletic-footwear-market-size-share-analysis-2023-2030/


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