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The latest report by IMARC Group, titled “Sneaker Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the sneaker market share. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global sneaker market size reached USD 88.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 147.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.76% during 2024-2032.
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Sneaker Market Trends:
The global market is primarily driven by the growing interest in fitness and athletic activities, which is increasing the demand for sports and casual footwear. The rise of athleisure fashion is encouraging consumers to seek versatile shoes that combine performance with style. Moreover, the increasing awareness of the importance of physical health is pushing more individuals towards active lifestyles, further driving sneaker sales. Additionally, the influence of social media and celebrity endorsements is heightening consumer interest in branded sneakers.
Furthermore, technological advancements in manufacturing, such as 3D printing and sustainable materials, are providing brands with the opportunity to innovate. Besides, the increasing disposable income in emerging markets is contributing to higher spending on premium and designer sneakers. Furthermore, e-commerce growth is making sneakers more accessible to consumers globally, while the trend towards limited edition and exclusive releases is augmenting demand in the market.
Sneaker Market Scope and Growth Analysis:
The market scope is broadening due to the growing fusion of fashion and functionality. As consumers increasingly prioritize both style and comfort, sneakers are gaining traction beyond athletic use, particularly in casual and professional settings. The market's geographic reach is expanding, with developing regions witnessing rapid adoption due to rising urbanization and changing lifestyle preferences. Additionally, the growing demand for sustainable and eco-friendly products is prompting brands to introduce sneakers made from recycled or environmentally conscious materials, which is broadening the market appeal.
Technological innovation, such as customized designs and advanced cushioning technologies, is attracting a diverse customer base. Besides, increasing interest in niche markets, such as vegan sneakers, is helping further segmentation and growth. Moreover, the rise of sneaker culture, fueled by collaborations with designers, musicians, and athletes, is elevating the market's potential, making it a key segment within the broader footwear industry.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Adidas AG
ASICS Corporation
Benetton Group S.r.l.
Columbia Sportswear Company
ECCO Sko A/S
Hanesbrands Inc.
Kering SA
New Balance
Nike Inc.
Puma SE
Reebok International Limited (Authentic Brands Group LLC)
Skechers U.S.A. Inc.
Under Armour Inc.
VF Corporation
Sneaker Market Segmentation:
Our report has categorized the market based on region, product type, category, price point, distribution channel, and end user.
Breakup by Product Type:
Low-Top Sneakers
Mid-Top Sneakers
High-Top Sneakers
Breakup by Category:
Branded
Private Label
According to the report, branded accounted for the largest market share.
Breakup by Price Point:
Luxury
Economic
Breakup by Distribution Channel:
Specialty Stores
Supermarkets and Hypermarkets
Brand Outlets
Online Stores
Others
According to the report, specialty stores accounted for the largest market share.
Breakup by End User:
Men
Women
Kids
The men's segment holds the largest market share.
Breakup by Region:
North America (USA, Canada)
Europe (Germany, France, UK, Italy, Spain, Russia, others)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, others)
Middle East/Africa
Latin America (Brazil, Mexico, others)
According to the report, North America accounted for the largest market share.
Key Highlights of the Report:
Market Performance (2018-2023)
Market Outlook (2024-2032)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
About US:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
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