(MENAFN- GlobeNewsWire - Nasdaq) NEWARK, Del, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The global skateboard footwear & apparel market size is expected to reach US$ 3,095.5 million in 2023 and US$ 4,546.8 million by 2033. During 2023 to 2033, sales of skateboard footwear & apparel are likely to soar at ~3.9% CAGR .
The skateboard footwear & apparel market is expected to grow rapidly during the forecast period. This is due to several factors, including the increasing participation in skateboarding events and competitions worldwide and the expansion of skateboarding parks and facilities.
Growing popularity of skateboarding as a recreational activity is significantly boosting growth in the skateboard footwear and apparel industry. With skateboarding gaining mainstream attention and becoming a recognized sport, there has been a surge in demand for specialized footwear and apparel designed specifically for skateboarders.
The skateboard footwear & apparel industry is growing day by day across the world. The growth of the skateboard footwear & apparel industry can be attributed to factors such as the desire for innovation in terms of technology and materials to enhance the performance and functionality of skateboard footwear and apparel.
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Leading skateboard footwear & apparel companies are offering a wide range of products to fulfil requirements of end users. This is positively impacting the overall market development.
Key Takeaways from the Skateboard Footwear & Apparel Market Study
The worldwide skateboard footwear & apparel industry is projected to exceed a valuation of US$ 4,546.8 million by 2033. By product type, the skate shoes segment is expected to account for a significant market share of 62.1% in 2023 . Based on consumer orientation, the men segment is likely to hold a 48.2% share of the market in 2023. By distribution channel, the online retailers segment is expected to account for 16.5% of the market share by 2033. The United States skateboard footwear & apparel industry is forecast to progress at 3.9% through 2033. Demand for skateboard footwear & apparel across the United Kingdom is likely to rise at a steady pace through 2033. China is expected to emerge as a highly lucrative skateboard footwear & apparel market during the projection period.
“Increasing popularity of skateboarding as a recreational activity across the world is driving the worldwide skateboard footwear & apparel industry. The rising participation of female consumer groups in skateboarding is likely to further boost sales in the target market through 2033. To gain profits, leading players are focusing on expanding their product portfolios by launching new products.” says an FMI analyst .
Who is Winning ?
Leading skateboard footwear & apparel manufacturers profiled in the report include VF Corporation, Nike Inc., Adidas AG, Globe International, New Balance, DC Shoes, Sole Technology Inc., and Lakai Limited. Key players to consider for the skateboard apparel market include Volcom, LLC, Element, NHS Inc., High Speed Productions Inc., CCS, Tactics, HUF Worldwide, Diamond Supply Co., Primitive Skateboarding, and Stüssy.
These prominent players are constantly launching new products to meet the demands of end users. They are also leveraging strategies such as mergers, partnerships, acquisitions, and collaborations to gain a competitive edge in the market. For instance,
In 2023, Santa Cruz partnered with the skateboarding brand Blind to expand its portfolio as well as presence across lucrative markets.
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Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the skateboard footwear & apparel industry, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study divulges compelling insights on the skateboard footwear & apparel market based on product type (skate shoes, t-shirts & tops, hoodies & sweatshirts, and bottoms), consumer orientation (men, women, unisex, and kids), distribution channel (direct sales/exclusive stores, specialty stores, sports merchandise, departmental stores, online retailers, other sales channel) and countries.
Scope of Report
| Attribute | Details |
| Estimated Market Value (2023) | ~US$ 3,095.5 million |
| Projected Market Value (2033) | ~US$ 4,546.8 million |
| Anticipated Growth Rate (2023 to 2033) | ~3.9% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ million/billion for Value |
| Key Regions Covered | North America Latin America Europe South Asia East Asia Oceania Middle East and Africa |
| Key Countries Covered | United States Canada United Kingdom Germany France Italy Spain China Japan South Korea India Indonesia Singapore Thailand Australia New Zealand GCC Countries South Africa Others |
| Key Segments Covered | Product Type Consumer Orientation Distribution Channel Region |
| Key Companies Profiled | For Skateboard Footwear
VF Corporation Nike Inc. Adidas AG Globe International New Balance DC Shoes Sole Technology Inc. Lakai Limited Others (as requested) For Skateboard Apparel Volcom, LLC Element NHS Inc. High Speed Productions Inc. CCS Tactics HUF Worldwide Diamond Supply Co. Primitive Skateboarding Stüssy Other Players (As Requested) |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
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Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies, including consumer market, retail, and manufacturer research perspectives. She has also been involved in several bulletins in food magazines and journals.
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