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New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Athletic Footwear Global Market Report 2022' -
The global athletic footwear market is expected to grow from $71.18 billion in 2021 to $76.72 billion in 2022 at a compound annual growth rate (CAGR) of 7.78%. The athletic footwear market is expected to grow to $91.98 billion in 2026 at a compound annual growth rate (CAGR) of 4.64%.
The athletic footwear market consists of sales of athletic footwear by entities (organizations, sole traders, and partnerships) that refer to a type of shoes that are particularly designed for sporting, exercising, and recreational activities.Athletic shoe designs take into account the particular movements involved in various sports.
They also provide sports-specific levels of cushioning, stability, traction, flexibility, and durability.
The main types of athletic footwear include running shoes, sports shoes, trekking/hiking shoes, and others.Running shoes refer to shoes designed for running and jogging activities.
Running shoes are made for forwarding movement and safeguard both the front and back of your foot.They may aid in the prevention of shin splints, stress fractures, tendonitis, and other issues.
They are used by men, women and kids, and they are distributed through supermarkets/hypermarkets, speciality stores, brand outlets, and online channels.
North America was the largest region in the athletic footwear market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the athletic footwear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The athletic footwear market research report is one of a series of new reports that provides athletic footwear market statistics, including athletic footwear industry global market size, regional shares, competitors with an athletic footwear market share, detailed athletic footwear market segments, market trends and opportunities, and any further data you may need to thrive in the athletic footwear industry. This athletic footwear market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The rising number of sports tournaments is expected to propel the growth of the athletic footwear market.Sports tournaments refer to competitions, in which large sections of players compete against each other in a specific format to determine the overall winner.
Individuals are increasingly participating in local or regional tournaments, to display their skills and represent themselves on the global stage for their country.Sports professionals and enthusiasts enrolled in various sports tournaments are mandated to wear athletic footwear to conduct a safe and competitive tournament.
For instance, In February 2020, the International Cricket Council (ICC), the governing body of cricket, figured that T20 international cricket had witnessed a 14% growth in global participation.There was a 110% increase in associate member women's T20 matches.
Therefore, the rising number of sports tournaments will drive the growth of the athletic footwear market during the forecast period.
The use of recycled material in shoe manufacturing is a key trend gaining popularity in the athletic footwear market.The companies operating in athletic footwear are focusing on utilizing recycled materials in shoes to reduce the carbon footprint, and meet their organization's specific sustainable goals.
For instance, In April 2022, Decathlon S.A., a French sporting goods company launched Traxium Compressor, a football shoe completely manufactured from recycled thermoplastic derived from end-of-life sporting goods such as plastic balls, shoes, and others. Additionally, in June 2021, Adidas, a manufacturer of apparel, shoes, clothing, and accessories, launched the Solarthon golf shoes, whose upper parts are made from 50% recycled parley ocean plastic.
In March 2022, Authentic Brands Group (ABG), an American brand management company, acquired Reebok from Adidas AG for $2.5 billion. Post-acquisition, ABG is focused on establishing Reebok Design Group (RDG) in partnership with SPARC Group, for design, development, and innovation for footwear and apparel. Adidas AG is a Germany-based manufacturer of shoes, clothing, and accessories.
The countries covered in the athletic footwear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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