The global sports shoes market size is expected to reach USD
25.3 billion by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 4.2% over the forecast period. The market is expected to
witness significant growth owing to growing popularity of sports activities
across the globe.
Men’s sports shoe dominated the global market
and is expected to maintain its lead over the forecast period. Increasing
popularity of outdoor games such as soccer and American football is expected to
increase the demand for sports shoe over the forecast period. Sports clubs are
spreading awareness among people by conducting events at various places across
the world, which will have a positive impact on the market growth. For
instance, in 2017, the National Football League (NFL) had organized four game
events in London and around 84,500 fans came to watch the match between
Jacksonville Jaguars and Baltimore Ravens at Wembley Stadium.
In 2018, the offline retail channel segment
dominated the market, accounting for more than 80% share of the overall
revenue. Increasing penetration of retail outlets in developing countries is
one of the main factors driving the segment over the forecast period. For
instance, in 2018, American multinational company, New Balance Inc., opened a
new retail outlet in Riyadh to expand in Middle East.
Moreover, due to increasing awareness related
to health and supportive government initiatives, many multinational companies
are focusing on India and China to expand their reach in the market. For
instance, the Khelo India program has been introduced to revive the sports
culture in India at the grassroots level by building a strong framework for all
the sports played in the country and establish India as a great sporting
nation. Such initiatives are expected to have a positive impact on the market
growth.
Asia Pacific is expected to expand at fastest
CAGR of 5.2% over the forecast period. Increasing sports participation in India
and China, growing spending power of consumers, and rising health awareness in
the region are expected to have a positive impact on the growth of the market.
Central and South America is expected to witness significant growth owing to
growing popularity of football, American Football, and rugby.
For full research report on Sports
Shoes Market visit here:
https://www.grandviewresearch.com/industry-analysis/sports-shoes-market
Further key
findings from the study suggest:
- By gender, the kids segment is projected to
expand at a CAGR of 5.0% over the forecast period
- The offline retail channel segment dominated
the global sports shoe market with an overall revenue share of 83.4% in
2018
- The kids segment in U.S. was valued at USD
607.6 million in 2018 and is projected to witness significant growth in
the next few years
- North America was one of the prominent
regional markets in 2018 and is expected to exhibit significant growth
owing to increasing popularity of field sports at the national and
international levels
- The industry is highly competitive in nature
due to presence of the main players including Nike, Inc.; Adidas Group;
and Puma SE
- Various manufacturers are concentrating on new
product launches and product innovation to expand their consumer base.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/sports-shoes-market/request/rs1
Grand
View Research has segmented the global sports shoe market on the basis of
gender, retail channel, and region:
Sports Shoe
Gender Outlook (Revenue, USD Million, 2015 - 2025)
- Men
- Women
- Kids
Sports
Shoe Retail Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Offline
- Online
Sports
Shoe Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- Germany
- Asia Pacific
- China
- Central & South
America
- Brazil
- Middle East &
Africa
- South Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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