Sports Footwear Market by Product, End-user, Distribution Channel, Application, and Geography — Forecast and Analysis 2020–2024
The sports footwear market size will decrease by USD 10.23 billion during 2020–2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by product (athleisure sports footwear, running sports footwear, court game sports footwear, cleats sports footwear, and others), end-user (professional users and recreational users), distribution channel (offline and online), application (outdoor sports footwear, sports-inspired footwear, and performance sports footwear), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including adidas AG, Amer Sports Corp., ASICS Corp., Columbia Sportswear Co., New Balance Athletics Inc., Nike Inc., PUMA SE, The Gap Inc., Under Armour Inc., and Wolverine World Wide Inc.
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The sports industry is witnessing a rise in the number of sports tournaments owing to the growing spectator interest, which results in high demand for sports gear and equipment. Moreover, sports such as cricket, hockey, golf, ball sports, and baseball are witnessing a high number of participation by people. These factors will result in an increased demand for sports footwear, which will drive market growth.
The use of environment-friendly materials to manufacture sports gear and equipment is a key trend that will positively impact market growth. With greater emphasis on the preservation of the environment, there is a growing demand for sustainable sports footwear among customers. Moreover, key competitors are also catering to consumers demand by increasingly focusing on manufacturing sustainable and eco-friendly sportswear. These factors will encourage customers to purchase environment-friendly sports gear and consequently drive the market growth. The sports footwear market is expected to register a CAGR of almost (2)% during the forecast period.
