Men’s footwear have consistently been the leading segment in the global athletic footwear market over the past few years when it comes to gender and age demographics. This trend is expected to continue for the time being, with men’s footwear taking up close to 55% of the market in terms of value till 2018. Women’s athletic footwear are expected to form 30% of the global athletic footwear market value for the same period, while kids’ footwear remains the minority share. The total population of men and women demanding athletic footwear is increasing rapidly, with both genders showing different preferences. Men prefer athletic footwear with greater quality, durability, and comfort, while women are leaning towards style and comfort.
The global athletic footwear market is anticipated to witness a positive growth curve in the coming years, according to Transparency Market Research (TMR). The market ecosystem is comprises of a few prominent players, who monopolize the market to a large extent. The strategies adopted by key players in order to keep consumers engaged is investment in large, luxurious retail spaces, iconic brand presence and a robust distribution channel. Key vendors operating in the global athletic footwear market currently include Puma, Reebok, Skechers, Adidas and Nike. Retail agents are investing towards promoting impulse buying, in order to boost product sales. Leading vendors are seen focusing on providing comfort, variety, and utility in their product portfolio to gain a footing in the market.
The global athletic footwear market is forecasted to exhibit a 1.80% CAGR over the forecast period of 2012 to 2018. The market, which was evaluated to stand at US$74 bn in 2011, is predicted to attain a value of US$84.4 bn by 2018.
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Based on segmentation by consumer group, men have been consistently the leading consumer group of athletic footwear, holding nearly 55% of the market share. This trend is expected to continue over the forecast period, as men show preference towards use of athletic footwear which offers improved quality, comfort, and durability, while the female gender consider style and comfort, thus propelling the men’s segment to the fore.
Asia Pacific is expected to emerge as a leading region in the global athletic footwear market, on account of the sheer volume of demand for footwear generated by the densely populated region. With rising disposable incomes of individuals, coupled with growing manufacturing activities, the region is anticipated to account for a whopping 41.6% of the overall market share over the forecast period.
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Rising Trend of Athleisure, Fitness Awareness to Play Key Role in Market Rise
Athletic footwear products is witnessing a surge in demand due its usage in diverse conditions. Athletic footwear is used by different consumer types such as athletes and climbers. Additionally, the trend of being health conscious has given rise to class of fitness conscious customers, gym goers, people popularizing athleisure as a style, and ones who use them during mild fitness routines.