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GMI Research's recent analysis, global sneakers market, forecast to 2027, analyzes the trends in this market and how they are evolving across the different key geographic regions of the world. The drastically shifting preference towards custom designs, the proliferation of e-commerce platforms, and rising fashion trends are the key factors that are surging the growth of the global sneakers market.
Introduction of the Sneakers Market:
Sneakers refer to the types of shoes that are particularly designed for sports or other types of physical exercise. They are also largely used as everyday footwear. The term sneakers define a type of footwear that has a flexible sole, which is made up of rubber or synthetic material, and sneakers' upper portion is made up of cloth, leather, or synthetic substitutes.
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Sneakers Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The rising disposable income and enhancing the lifestyle of people, are increasing the need for more innovative and comfortable footwear, thus surging the growth of the global sneakers market. Moreover, the continuous shift in consumers' preference towards branded, trendy, and high-fashion footwear between every age group of people and the quick availability of customized and innovative specifications in the footwear will bring various growth opportunities for the market. The growing concerns related to health and wellness, followed by the increasing population, are promoting people to get involved in various fitness activities, and significant change in young population towards fitness and sports are further enhancing the demand of the market.
Some of the major factors contributing to the growth of the market across the world include drastically shifting preference towards custom designs, the proliferation of e-commerce platforms, and rising fashion trends. Additionally, the introduction of 3D printing on the sneakers, increasing penetration of the internet, and smartphones are increasing preference for the online medium as it offers the flexibility to the users to select according to their choice, which in turn, is further boosting the growth of the global sneakers market share in terms of revenue. On the other hand, the easy availability of copied or fake products that are produced by local manufacturers will hinder the growth of the global sneakers market. The emergence of the COVID-19 pandemic is negatively influencing the market growth. The major factor hampering the market growth includes the temporary shutdown of factories and the new collection release delay. The closing of factories and production in China has interrupted the supply chain of raw materials, thus adversely impacting the market. However, the market is projected to bounce back from 2021 while increasing substantially from 2022.
Key Players of the Global Sneakers Market:
· Adidas Group
· Nike Inc.
· New Balance
· ASICS
· PUMA SE
· Under Armour, Inc.
· Li Ning Company Ltd.
· ECCO
· China Dongxiang (Group) Co., Ltd.
· 361 Degrees International Limited
Sneakers Market Segmentation:
Segmentation by Type:
· Children Sneakers
· Adult Sneakers
Segmentation by Distribution Channel:
· Store-Based Retail
· Non-Store Based Retail
Segmentation by Region:
· North America
o United States of America
o Canadaa
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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