Athletic Footwear Global Market Report 2024

The athletic footwear market size has grown strongly in recent years. It will grow from $81.43 billion in 2023 to $85.8 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth observed in the historical period can be attributed to increased global sporting events, the trend of urbanization and active lifestyles, the prevalence of brand loyalty and sneaker culture, a rise in health and fitness consciousness, and the casualization of workwear.

The athletic footwear market size is expected to see strong growth in the next few years. It will grow to $107.27 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The projected growth is driven by sustainable and eco-friendly footwear, expansion into emerging markets, sports tourism and events, the fusion of performance and lifestyle, and a focus on inclusivity and diversity. Key trends include technology integration, customization, collaborations, digital retail and direct-to-consumer channels, as well as the popularity of retro and vintage styles, and the integration of fitness apps and wearables.

The anticipated increase in sports tournaments is poised to fuel the expansion of the athletic footwear market. These tournaments, characterized by competitive events where large cohorts of players vie for victory in a specific format, are witnessing a growing participation trend. Individuals are increasingly joining local or regional tournaments to showcase their skills and gain global recognition for their countries. Athletes, both professionals and enthusiasts, participating in diverse sports tournaments are obligated to don athletic footwear to ensure a safe and competitive environment. As an illustration, in May 2023, the England and Wales Cricket Board reported that approximately 2.6 million individuals engaged in cricket in 2022, with 1.4 million players under the age of 16. The surge in young cricket enthusiasts is attributed to the success of ECB's national initiatives, namely All Stars Cricket and Dynamos Cricket, both of which attracted over 100,000 participants for the second consecutive year in 2022, contributing significantly to the game's growth among newcomers. Consequently, the escalating number of sports tournaments is expected to be a key driver for the athletic footwear market's growth throughout the forecast period.

The increasing prevalence of obesity is anticipated to drive the expansion of the athletic footwear market in the future. Obesity, a medical condition characterized by the accumulation of excessive body fat with associated health risks, has become a widespread concern. Individuals grappling with obesity often turn to athletic footwear for its attributes such as cushioning, support, and stability, which help mitigate the impact on joints during physical activities. As an example, in March 2022, the World Health Organization (WHO), a Switzerland-based agency, reported that 650 million adults, 340 million teenagers, and 39 million children were projected to be obese. Notably, this figure continues to rise, and the WHO forecasts that by 2025, an additional 167 million adults and children will join the ranks of the overweight or obese. Consequently, the escalating instances of obesity are playing a pivotal role in propelling the growth of the athletic footwear market.

The incorporation of recycled materials in shoe manufacturing stands out as a significant trend gaining traction in the athletic footwear market. Companies within the athletic footwear sector are strategically prioritizing the integration of recycled materials in their shoe production processes to not only reduce the carbon footprint but also align with their specific sustainability objectives. A notable example is the initiative undertaken by Decathlon S.A., a French sporting goods company, which, in April 2022, introduced the Traxium Compressor – a football shoe entirely crafted from recycled thermoplastic sourced from end-of-life sporting goods, including plastic balls and shoes. Similarly, in June 2021, Adidas, a prominent manufacturer of apparel, shoes, and accessories, launched the Solarthon golf shoes, featuring upper parts made from 50% recycled parley ocean plastic. This focus on utilizing recycled materials underscores a key strategy within the athletic footwear market to promote environmental sustainability.

Prominent companies within the athletic footwear market are placing a strong emphasis on product innovation, particularly in the realm of sustainable practices such as the utilization of recycled materials, to meet the increasing consumer demand for eco-friendly options. The incorporation of sustainable recycled materials involves the reutilization of resources to manufacture new products, thereby contributing to waste reduction and minimizing environmental impact. A case in point is Nike Inc., a US-based sportswear company, which, in April 2022, introduced the Nike Pegasus Turbo Next Nature. This innovative running shoe is crafted with a minimum of 50 percent recycled material by weight and features the use of 100 percent recycled Flyknit yarns in its upper, ensuring a snug fit. This conscious effort towards eco-friendly design exemplifies the commitment of major companies in the athletic footwear market to prioritize sustainability and address consumer preferences for environmentally responsible choices.

In March 2022, Authentic Brands Group (ABG), a prominent American brand management company, successfully acquired Reebok from Adidas AG for a total of $2.5 billion. Following the acquisition, ABG is dedicated to the establishment of Reebok Design Group (RDG) in collaboration with SPARC Group, focusing on the design, development, and innovation of footwear and apparel. Adidas AG, a Germany-based company, is widely recognized for its manufacturing of shoes, clothing, and accessories.

Major companies operating in the athletic footwear market report are Nike Inc., Adidas AG, Lining, VF Corporation, Puma SE, ANTA Sports Products Limited, Skechers USA Inc., Under Armour, New Balance Athletics Inc., Lotto Sport, Li-Ning Company Limited, ASICS Corporation, ASICSTIGER, Deckers Brands, Columbia Sportswear Company, Fila, Fila Korea Ltd., Mizuno Corporation, On AG, Brooks Running Company, ECCO Sko A/S, Lanvin, K-Swiss Inc., Diadora Sport S.p.A., UMBRO, Umbro, Keen Inc., Saucony, Warrior, Salomon, Tecnica Group S.p.A., La Sportiva, Vivobarefoot, Helly Hansen, Topo Athletic, Hummel International Sport & Leisure A/S.

North America was the largest region in the athletic footwear market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the athletic footwear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the athletic footwear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Primary categories of athletic footwear comprise running shoes, sports shoes, trekking/hiking footwear, among others. Specifically crafted for running and jogging, running shoes are geared towards facilitating forward movement while ensuring protection for both the forefoot and heel. These shoes play a role in averting conditions such as shin splints, stress fractures, tendonitis, and related concerns. Catering to men, women, and children, they are retailed through supermarkets/hypermarkets, specialty stores, brand outlets, and various online distribution channels.

The athletic footwear market research report is one of a series of new reports that provides athletic footwear market statistics, including athletic footwear industry global market size, regional shares, competitors with an athletic footwear market share, detailed athletic footwear market segments, market trends and opportunities, and any further data you may need to thrive in the athletic footwear industry. This athletic footwear market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The athletic footwear market consists of sales of walking shoes, court sport shoes, minimalist shoes, hockey shoes, and climbing shoes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.