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February 22, 2020
Sports Footwear Market Size Worth USD 142.40 Billion by 2026.
Torsional Stability and Flexible Properties of Sports Shoes to Fuel their Demand Worldwide, Says Fortune Business Insights.
Photos: The sports brand PUMA, and the world’s fastest hedgehog, Sonic, are once again joining forces ahead of the release of the blockbuster movie “Sonic the Hedgehog.” The PUMA x SONIC collection will feature the famous blue video game character in its designs and graphics. That collection blends Sonic’s playfulness with PUMA’s sport style design. The collection consists of the SONIC sneaker in two new colorways with a semi-transparent white or black grid look, bright color pops, and gold accents. Images provided by PUMA.
PUNE, India, February 22, 2020 — Fortune Business Insights have projected that due to the rising prevalence of sports culture, the global Sports Footwear Market size would reach USD 142.40 billion by 2026. Users prefer Sports footwear due to their physical properties such as motion control or torsional stability, and flexibility. Such benefits have increased the demand for sports shoes in the market worldwide.
Fortune Business Insights have published a report titled, “Sports Footwear Market Size, Share & Industry Analysis, By Gender (Men, Women, and Kids), End-User (Professional Users and Recreational Users), Distribution Channel (Online and Offline), and Regional Forecasts, 2019 - 2026.” According to the report, the market value of Sports Footwear was USD 98.70 billion in 2018. It will rise at a CAGR (Compound Annual Growth Rate) of 4.8 % from 2019 to 2026, the report says.
• Highlights of the Report:
The report on the Sports Footwear Market offers a comprehensive overview of the market and its growth parameters, such as drivers, restraints, and challenges. It also focuses on significant industry developments and critical insights into the market. The report presents a detailed segmentation of the market based on factors such as gender, end-user, distribution channel, and regions. The report lists the names of players operating in the market and the key strategies adopted by them to compete for the top position in the market. The report also contains the current Sports Footwear Market trends and opportunities.
The leading manufacturers in the Sports Footwear Market mentioned in the report are as follows:
• ASICS
• Nike Inc
• Diadora S.p.A.
• Adidas Group
• Puma SE
• Converse
• Reebok
• MIZUNO Corporation
• Sketchers, USA Inc.
• Armor Inc.
• Major Growth Drivers:
• Increasing Inclination Towards Physical Fitness Will Promote Growth.
The rise in participation in sports activities worldwide is a significant factor in promoting Sports Footwear Market growth. Further, the increasing number of people suffering from health issues due to the adoption of a sedentary lifestyle is propelling the need for physical fitness and exercises daily. Such factors are likely to increase the demand for sports shoes worldwide, thereby accelerating the rate of growth for the sports shoe market.
Moreover, governments of various nations are encouraging sports and recreational activities at schools and college levels. They are organizing numerous sports championships at district, state, and national levels to provide an opportunity for sports enthusiasts and boost the spirit of sports among youth. For instance, the Government of India is investing in programs encouraging the students to participate in sports activities by organizing various platforms such as ‘Khelo India.’
• Regional Analysis:
• The Asia Pacific to Thrive Owing to Government-supported Initiatives
Based on regional segmentation, we could categorize the global Sports Footwear Market into the regions of North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa. We could further segment each of these regions into countries. Among these, North America held the most extensive sports shoe market share and generated a revenue of USD 41.12 billion in 2018 and USD 42.89 billion in 2019. The USA and Canada have a vibrant sports culture and high preference for other similar activities.
On the other side, the sports shoe market in the Asia Pacific could witness robust growth on account of the increasing inclination towards fitness and sports activities. Besides this, the growing number of struck-down by disease population has propelled people to give importance to physical activities such as walking, jogging, running, and yoga. It would further promote the sports shoe market demand in the years to come.
Further, governments in developing nations such as India are promoting sports and recreational activities by making it a compulsory subject in schools. Thus, such initiatives will help add impetus to the regional sports shoe market growth in the forecast duration.
• Competitive Landscape:
• Launch of Innovative Products to Intensify Market Competition
Players operating in the Sports Footwear Market are keen on launching advanced products that are both innovative and will fulfill the requirement of the consumer. For instance, a Fast Flexweave running show was launched by Reebok, with the latest cutting-edge technology. Such innovations are encouraging other players to invest more in product development and maintain a strong foothold in the market. The presence of more sports and physical activity enthusiasts is likely to aid in the expansion of the regional market and earn high Sports Footwear Market revenue.
The authors of the report, Fortune Business Insights Pvt. Ltd., have an office in Pune, India. The full story is available from them. According to them, they offer expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions.
|GlobalGiants.Com|
Edited & Posted by the Editor | 12:57 AM | Link to this Post
