Increasing Physical Fitness Trend to Promote Sports Products
The rise in participation in sports activities worldwide is a major factor promoting the sports footwear Industry growth. This, coupled with 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 footwear Industry.
Moreover, governments of various nations are encouraging sports and recreational activities at schools and college levels. They are organizing various 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 for supporting the youth and encouraging them to participate in sports activities by organizing various platforms such as ‘Khelo India’, and others. To cite another example, Maharashtra bagged the trophy at Khelo India 2019 games. There was an active participation of 10k pupils and 5,925 athletes.
The global sports footwear Industry size is projected to reach USD 142.40 billion by 2026 attributable to the rising prevalence of sports culture. Sports footwear is mainly designed for any physical exercise or sports activities. Sports footwear are highly preferred due to their physical properties such as motion control or torsional stability, flexibility, and others. Such benefits have increased the demand for sports shoes in the Industry worldwide.
According to the research published recently by the Industry value was USD 98.70 billion in 2018 and will rise at a CAGR of 4.8 % from 2019 to 2026.
Highlights of the Research
The research on sports footwear Industry offers a comprehensive overview of the Industry and its growth parameters such as drivers, restraints, and challenges. It also focuses on major industry developments and key insights into the Industry. The research presents a detailed segmentation of the Industry based on factors such as gender, end-user, distribution channel, and regions. Besides this, the research lists the names of players operating in the Industry and the key strategies adopted by them to compete for the top position in the Industry. Furthermore, the research lists the current sports footwear Industry trends and opportunities.
Asia Pacific to Grow Robustly Owing to Government-supported Initiatives
On the basis of regional segmentation, the global sports footwear Industry is categorized into the regions of North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Each of these regions is further segmented into nations. Among these, North America held the largest sports shoes Industry share and generated a revenue of USD 41.12 billion in 2018 and USD 42.89 billion in 2019. This is owing to the presence of rich sports culture and high preference for other similar activities, especially in the U.S.
On the other side, Asia Pacific is anticipated to witness robust growth in the forecast period on account of the increasing inclination towards fitness and sports activities. Besides this, the increasing number of the struck-down by disease population such as high blood pressure, diabetes, and cardiac disorders has propelled people to give importance to physical activities such as walking, jogging, running, yoga, and others. This is further expected to promote the sports shoe Industry demand in the years to come. Moreover, 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 Industry growth in the forecast duration.
Launch of Innovative Products to Intensify Industry Competition
Players operating in the sports footwear Industry 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 Industry. Presence of more sports and physical activity enthusiasts is likely to aid in the expansion of the regional Industry in the forecast period on the one side, and earn high sports footwear Industry revenue on the other.
Major Sports Shoes Industry Manufacturers are listed below:
ASICS Nike Inc. Diadora S.p.A. Adidas Group Puma SE Converse Reebok MIZUNO Corporation Sketchers, USA Inc. Armor Inc.
Key Industry Development of the Sports Footwear Industry Include:
August 2018 – Reebok launched its first-ever bio-based sports shoe, consisting of 75% plant-based fibers namely corn, and cotton.
April 2017 – Carbon, a sports show startup company, collaborated with Adidas for the manufacture of 3D printed shoes.
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Author’s Bio
Name- Raginee Sarkar
Raginee currently works as a content writer at She comes with extensive experience in writing advertising and Industrying content, blogging, film scripting, and news researching. She strongly believes in quality content and thus prefers to write in a simple, elegant, yet impactful way.