What Are The Key Factors Driving The Growth Of Athletic Footwear Market ?

The Athletic Footwear Market 2021-2027 research report analyzes the current as well as future aspects of the industry & presents leading regions, growth trends & strategies of the key players which is bound to impact the global Athletic Footwear industry share in various end-use applications.

The research analyst provides comprehensive data, which enhances the growth of the industries. This report focuses on the basic requirement strategies of the businesses, which helps to enlarge the productivity. Additionally, it offers different market segments, such as application, types, size, end-users, cost, etc.

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Athletic footwear is designed for sports activities. They are basically used by athletes for running and playing other sports activities. Athletic footwear is classified into walking shoes, trekking shoes, sportswear, aerobics shoes, and running shoes.

Statistics:

The global Athletic Footwear market was accounted for US$ 85,047 Mn in terms of value by the end of 2019 and is expected to grow at 1.8% CAGR during the forecast period (2020-2027).

Drivers:

Increasing participation of individuals in sports activities is augmenting the market growth of athletic footwear. A growing number of young adults that aspire to lead a healthy lifestyle is another major factor fueling the demand for sports shoes. Thus, manufacturers are continuously launching more innovative and comfortable shoes due to increasing consumer demand for novel products which is again fostering the market growth. Therefore, an increasing number of people participating in sports activities is propelling the market growth of athletic footwear.

Market Restraints

Increasing price of raw materials used in the production of athletic footwear is hampering the product demand. Hence, the increasing price of raw materials used expected to hinder the market growth.

Growing counterfeit products in the market due to the existence of a large number of small vendors in the market is creating negative impressions among consumers. This factor hampers the distribution system of products, thereby restricting the market growth of athletic footwear.

Market Opportunities

Improving lifestyle of the consumers is expected to offer immense market opportunities in the near future. Due to the changing lifestyle of the consumer’s luxury and premium brands are gaining huge demand among consumers. This is expected to foster the market growth of athletic footwear. Also, increasing disposable income of the consumer coupled with the growing awareness regarding the emerging brands is again anticipated to foster the market growth of the athletic footwear over the forecast period.

Market Trends/Key Takeaways

Changing fashion trends among consumers is one of the major factors escalating the demand for athletic footwear. For this various manufacturers are introducing fashionable shoes. The increasing popularity of sports and the growing number of sports events around the globe is again contributing to the market growth of athletic footwear. Moreover, a rise in the overall level of fitness awareness among consumers is further expected to play a key role in the growth of the athletic footwear market over the forecast period.

Global Athletic Footwear Market – Impact of Coronavirus (Covid-19) Pandemic

The global athletic footwear market has been impacted due to the ongoing COVID-19 pandemic. This can be attributed to the restrictions imposed by governing authorities over traveling and conducting sports activities in public. Moreover, external factors such as an obstruction in the supply chain, lack in the availability of skilled laborers, the imposition of work from home policies, and the emergence of an online education system have significantly reduced the demand for athletic footwear.

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[Note: *The PDF Brochure Includes

1) Table of Content (ToC),
2) Research Framework of the actual report, and
3) Research Methodology adopted for it.]

Important Information that can be extracted from the Report:

♦ Assessment of the COVID-19 impact on the growth of the Athletic Footwear Market

♦ Successful market entry strategies formulated by emerging market players

♦ Pricing and marketing strategies adopted by established market players

♦ Country-wise assessment of the Athletic Footwear Market in key regions

♦ Year-on-Year growth of each market segment over the forecast period 2027

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In Addition, The Years Considered For The Study Are As Follows:

Historical year – 2014 to 2018
Base year – 2019
Forecast period – 2020 to 2026

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