Tennis Shoes Market will Gain Momentum by 2031 to Surpass $3.6 Billion - ADIDAS, ASICS Corporation, PUMA SE, Babolat

On the basis of region, Asia-Pacific is anticipated to witness highest growth rate in the tennis shoes industry, registering a CAGR of 4.5% from 2022 to 2031.

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATES, October 29, 2022 / -- According to a new report published by Allied Market Research, titled, “Tennis Shoes Market," The tennis shoes market size was valued at $2.5 billion in 2021, and is estimated to reach $3.6 billion by 2031, growing at a CAGR of 3.3% from 2022 to 2031.

Key Players:

The players operating in the global tennis shoes market have adopted various developmental strategies to expand their tennis shoes market share, exploit the tennis shoes market opportunity, and increase profitability in the market. The key players profiled in this report include ADIDAS Group, Anta Sports Products Limited, ASICS Corporation, Babolat, FILA Holdings Corp., Lotto Sport Italia S.p.A., New Balance, Inc., Nike, Inc., PUMA SE, and Xtep International Holdings Limited.

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Tennis shoes are a type of athletic footwear used especially for playing tennis. It is different from other footwear as the design and qualities needed in a tennis shoe are different from other athletic shoes. Moreover, tennis shoes feature more strength and durability so that it allows players to quick side-wise, forward, and backward movement while playing tennis. Tennis is gaining popularity across the globe due to events such as Grand Slams and the French Open. Moreover, the growth in the fan base of famous tennis players such as Pete Sampras, Bianca Andreescu, and Rafael Osuna propels the tennis participation rate globally and consequently fuels the demand for tennis shoes.

The increase in women's participation is rapidly growing in tennis as women and men enjoy fairly equal parity in tennis which has made tennis popular among women. According to the International Tennis Federation (ITF), the women population constituted around 47% of the total tennis playing population across the globe in 2019. Therefore, the surge in popularity of tennis is encouraging people, especially women to increasingly participate in tennis. This factor is ultimately increasing the demand for tennis shoes among the global tennis playing population.

The availability of fake and low-priced products restricts the growth of the market. Sportswear and footwear by renowned brands have a high price range, which is not affordable by lower income groups. Hence, local suppliers design the same style of products at comparatively lower costs. Such products are of low quality and hamper the brand image of forerunners in the market, thereby limiting sales of original products.

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The availability of counterfeit or low-quality tennis footwear restricts sales of branded products, thus threatening the tennis shoes market growth. The changes in paradigm of the educational system supports the growth of the sports industry and industries dependent on it. In addition, the rise in sports education and sports training in academics has significantly increased awareness of sports and fitness. Thus, many schools/educational institutes offer training to students, providing them an opportunity to compete in various sports competitions such as tennis.

In addition, a hectic lifestyle, coupled with rise in instances of consumers choosing outdoor activities such as adventure sports to unwind or break the monotony of their daily life aids in the growth of the tennis shoes market. Furthermore, initiatives taken by various governments in countries such as India and Australia to promote sports, health, and fitness have led to an increased consciousness about sports and sports-related products such as sports shoes & others, which, in turn, drives the growth of the tennis shoes market size.

The tennis shoes market is segmented on the basis of playing surface, user, distribution channel, and region. On the basis of playing surface, it is segmented into hard court tennis shoes, clay court tennis shoes, and grass court tennis shoes. On the basis of user, it is segregated into men, women, and kids. On the basis of distribution channel, it is classified into supermarkets/hypermarkets, specialty stores, e-commerce, and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Russia, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, and rest of LAMEA).

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Key findings of the study

According to the tennis shoes market analysis, on the basis of playing surface, the hard court tennis shoes segment is projected to witness the highest CAGR of 3.8%, in terms of revenue, during the tennis shoes market forecast period.
According to the tennis shoes market trends, on the basis of user, the men segment is expected to dominate the tennis shoes industry from 2022 to 2031.
On the basis of distribution channel, the e-commerce segment is expected to grow at a significant CAGR during the forecast period.
According to the tennis shoes market demand, on the basis of country in North America, U.S. was the largest market for tennis shoes in 2021, in terms of revenue generation.
On the basis of region, Asia-Pacific is anticipated to witness highest growth rate in the tennis shoes industry, registering a CAGR of 4.5% from 2022 to 2031.

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David Correa
Allied Analytics LLP
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