Robust sales channels promote sales in the Global Athletic Footwear Market
The global Athletic Footwear market is likely to garner a CAGR of 7.15% during the anticipated period.
The global market is affected by various changing trends in different regions. The athletic footwear market is also influenced by innovations brought by market players in product development, for example smart shoes that calculate calories burned. The growing awareness of the importance of fitness and the increasing participation of countries in sports and games are also driving the market. North America is the region that generates the most revenue in the market, followed by Europe. Stronger distribution channels are also a factor driving market growth.
Under Armor is expecting that the demand for sneakers and face masks will increase its annual revenue.
Market Drivers and Restraints:
Athletic Footwear refer to shoes designed for sports and other outdoor activities. However, the volume of global consumption indicates a trend in the use of these shoes as casual and fashionable shoes by people of all ages. The market offers a variety of shoes with color, design and price options to meet the needs and purchasing capabilities of individual customers. The surge in sales through e-commerce, the introduction of novel products and the developments in marketing and promotion strategies of several companies have supported the expansion of the global athletic footwear market. The market is very competitive, and players invest heavily in branding and marketing channels. This highlights your presence and helps establish your brand equity to attract more consumers. There are many small manufacturers offering stiff competition to the sports shoe giants. Growing environmental concerns about synthetic rubber and rising raw material prices have become major challenges for the market.
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Report is segmented as:
• Aerobic Shoes
• Running Shoes
• Walking Shoes
• Trekking & Hiking Shoes
• Sports Shoes
By Retail Channel:
• Brick & Mortar
Based on geography, the global athletic footwear market is divided into regions of Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these regions, North America led the market with a revenue share of around 30% in 2017. The region is expected to continue to dominate the market during the forecast period. The United States is the main contributor to revenue in the regional market, which can be attributed to the great enthusiasm of citizens for sports, fitness and adventure activities such as aerobics, hiking, training and trail running.
Key market players:
Major players in the market are Adidas AG; ASICS Corporation; Fila Inc.; Under Armour, Inc.; Lotto Sport Italia S.p.A.; New Balance Athletics, Inc.; Vans; Nike, Inc.; Puma SE; Reebok International; Saucony; Skechers USA, Inc.; and Woodland Worldwide.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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