Industry Background:
Athletic footwear is the footwear specially designed for sports activities that can enhance the comfort, performance, and also prevent from injuries. There are various types of athletic footwear are available in the market based on three major categories including cushioned, stability, and motion control. The top leading footwear brands are investing in the athletic footwear sector because of rising awareness of sports activities. Because of this COVID-19 pandemic footwear industry witness slowdown in growth because of the disruption supply chain. Along with these manufacturers are also facing issues in terms of lack of raw material availability.This growth is primarily driven by The Rise in Awareness Regarding Personal Fitness Management
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Unit |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Footwear sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Adidas (Germany), Asics (Japan), Bata (Switzerland), Fila (South Korea), Puma (Germany), HRX (India), Nike (United States), Reebok (United States), Under Armour (United States), Skechers (United States), Salomon Group (France), Duke & Dexter (United Kingdom), Lotto (Italy), Kappa (Italy), Liberty Shoes (India) and Mizuno Corporation (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In December 2021, NIKE, Inc. acquired RTFKT, a leading brand leveraging cutting-edge innovation to deliver next-generation collectibles that meld culture and gaming. This acquisition is another step towards accelerating Nike's digital transformation and serving athletes and creators at the intersection of sport, creativity, gaming, and culture.
In Feb 2020, Nike Inc. announced that they are transitioning their business in Brazil, Argentina, Chile, and Uruguay to gain more profit, enhance the capital efficient and value-accretive business model. This is the company’s strategic initiative for long term growth opportunities. Through this initiative, the company will become more competitive in the market.The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on the production technologies, efficiency enhancement, and product life. There is a various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies.
Influencing Trend:
High Availability of Smart Sports Shoes Enhancing the Level and Quality of Exercise
Market Growth Drivers:
The Rise in Awareness Regarding Personal Fitness Management and Favorable Demographics and Rising Inclination Towards Trendy Sports Footwear
Challenges:
Lack of Online Channels Reach in Under Developing Regions and High Cost Associated with Smart Footwears
Restraints:
The Slowdown in Economy Because Coronavirus Pandemic and Fluctuation in Price of Raw Material
Opportunities:
Growing Demand for Technologically Advanced Products Along with the Increasing Need for Innovative Features
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Athletic Footwear Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Athletic Footwear Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Athletic Footwear players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Athletic Footwear Study Sheds Light on
The Athletic Footwear Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Athletic Footwear industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Athletic Footwear industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.