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Sneakers Market
The Sneakers Market was estimated around USD 72 billion in 2019 and is predicted to grow at a robust CAGR over the forecast period (2020-2027).
The factors driving the growth of Sneakers Market includes growing demand for high-fashion footwear, rise in the number of sporting events, increasing penetration of gyms and fitness centers, celebrity endorsement of sneakers and promotion through social media platforms. According to the report published by Bloomberg, the Global Athletic Footwear Market is predicted to reach USD 196.1 billion by the end of 2030, growing at a CAGR of 4.9% over the forecast period (2022-2030), which will boost the Global Sneakers Market in the approaching years. Moreover, the easy availability of sneakers at e-commerce platforms and retail outlets, increasing use of 3D printing of the sneakers, rise in the working woman population around the world and growing popularity of customized sneakers, are some of the additional factors supplementing the Sneakers Market size. In addition, rising emphasis on manufacturing comfortable footwear, increasing investments by leading players on research and development, growing disposable incomes and rapid urbanization, are further contributing to the market growth.
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However, the growth of Sneakers Market is hindered attributed to the disruptions in the global supply chain.
The major leading players operating in the market are Li Ning Company Ltd., ECCO, China Dongxiang (Group) Co., Ltd., Adidas Group, Nike Inc., New Balance, 361 Degrees International Limited, ASICS, PUMA SE and Under Armour, Inc., among others.
Type: Segment Analysis
Based on Type, the Adult Sneakers segment is anticipated to expand at a remarkable CAGR during the forecast period attributed to rise in the number of sporting activities and increasing disposable incomes around the world.
Distribution Channel: Segment Analysis
Based on Distribution Channel, the Non-Store Based Retail segment is predicted to grow at a significant CAGR over the forecast period. Increasing popularity of e-commerce platforms because they are open 24*7, provide huge discounts to customers on the purchase of footwear and offers free home delivery options, are some of the factors propelling the segment’s growth.
Regional: Segment Analysis
Based on Region, the North American region is expected to capture a sizeable market share during the forecast period. Increasing Government expenditure to promote sporting activities in schools and universities, growing demand for fashionable footwear, availability of customized sneakers, high per capita incomes, and improved living standards, are some of the important factors augmenting the market growth in North America.
Market Segmentation
Global Sneakers Market by Type
Children Sneakers
Adult Sneakers
Global Sneakers Market by Distribution Channel
Store-Based Retail
Non-Store Based Retail
Global Sneakers Market by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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