Growing sports enthusiasm, fitness gains, global e-commerce surge, and higher disposable incomes propel athletic footwear market growth.

ROCKVILLE, MD, UNITED STATES, October 11, 2023 /EINPresswire.com/ -- Athletic footwear sales in the United States are set for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 4.5% expected to continue through 2033. Notably, the United States stands as the top revenue-generating nation in the global athletic footwear industry.

The market's growth is further propelled by a robust network of distribution channels. In 2020, the United States witnessed the athletic footwear Market size generating an impressive revenue of nearly US$ 13.5 billion, a figure that is on track to exceed US$ 17.01 billion by 2025. This expansion showcases the nation's enduring prominence in the athletic footwear sector and highlights the increasing consumer demand for sports and fitness-related footwear.

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In 2022, the global athletic footwear market achieved a valuation of US$ 82.56 Billion. Forecasts for the period spanning 2023 to 2033 indicate a promising trajectory, with an expected Compound Annual Growth Rate (CAGR) of 4.8%. By 2033, this market is projected to reach a substantial US$ 135.6 Billion, and in 2023, athletic footwear sales are predicted to be valued at US$ 85.21 Billion.

Several significant trends are driving this growth. First and foremost is the growing passion for and awareness of the health benefits associated with sports and fitness activities. Additionally, the worldwide expansion of the retail e-commerce sector is providing a strong platform for sales, while the increasing disposable income of consumers is further fueling this upward trend. These factors combined are poised to contribute to the continued expansion and success of the athletic footwear market.

Youth Embrace Active Lifestyles: Impact of COVID-19 on U.S. Athletic Footwear and Activewear Industry

In recent times, the younger generation has shown a growing interest in adopting a healthier way of life, marked by active participation in sports and related activities. Simultaneously, there is a rising awareness that engagement in sports and fitness can significantly contribute to overall well-being, lowering the risk of chronic conditions like depression, cardiovascular diseases, and diabetes.

The landscape of U.S. athletic footwear and activewear businesses, however, has been significantly reshaped by the COVID-19 pandemic. In terms of brand performance, Nike saw a considerable decrease in footwear sales, with a drop in the high teens. The Brand Jordan sales declined in the low teens, and Converse experienced a staggering drop of over 30%. Other major players, including Adidas, Skechers, ASICS, and Vans, faced declines in the teens. Under Armour's sales were down by approximately 25%, while Fila experienced a nearly 50% decrease.

Evolving Shoe Preferences and Environmental Impacts on Athletic Footwear

In the realm of athletic footwear, people are increasingly recognizing the significance of selecting the right shoes for sports activities to prevent muscle injuries, leg injuries, knee pain, hip pain, and back pain. Consequently, the demand for athletic shoes is poised for substantial growth in the upcoming years. The escalating demand for athletic footwear products stems from their versatile usage across various conditions, catering to athletes, climbers, fitness-conscious individuals, gym-goers, and those engaging in mild fitness routines.

Within the athletic footwear market, a diverse range of shoe types is available, crafted from high-quality raw materials like leather, foam, and plastic. These materials involve the application of advanced chemical additives to enhance performance and comfort.

Despite the robust growth in the athletic footwear sector, environmental concerns loom as a significant constraint. Ongoing efforts by governments and environmental organizations to combat pollution pose challenges for the industry. The sportswear industry, in particular, has drawn scrutiny for its environmental impact.

Prominent athletic footwear manufacturers

- ASICS Corporation
- New Balance INC
- Skechers, INC
- VF Corporation
- Deckers Outdoor Corporation
- Wolverine World Wide, Inc.
- Amer Sports Corporation
- NIKE, Inc.
- Adidas AG
- PUMA SE

Sprinting to Success: Athletic Footwear Sales Surge with CAGR of 4.8%

In the historical period, the global athletic footwear market exhibited steady growth, boasting a Compound Annual Growth Rate (CAGR) of 2.4%. As of 2022, the market stood at a robust valuation of US$ 82.56 billion. However, as the world embraces a heightened passion for sports and bolsters its awareness of health and fitness, the sales of athletic footwear are surging at an unprecedented rate.

Following an exhaustive analysis, Fact.MR predicts that athletic footwear sales are poised to soar to a staggering US$ 135.6 billion by the conclusion of the forecast period. This remarkable growth is underpinned by a projected CAGR of 4.8%. As individuals increasingly prioritize an active lifestyle, the athletic footwear market is sprinting toward a future filled with unprecedented success.

Surging Sports Enthusiasm Fuels Market Expansion

The market is experiencing an upsurge driven by a growing fascination with sports and fitness activities. This phenomenon is further propelled by burgeoning global retail e-commerce, coupled with the rising disposable income of consumers. These factors are poised to define the prominent trends in stimulating market growth.

Young individuals are increasingly embracing a healthy lifestyle, actively engaging in sports and related activities. Concurrently, a realization has dawned on people regarding the profound health benefits tied to sports and fitness endeavors. These activities are seen as a potent means to safeguard good health and mitigate the risk of chronic ailments such as depression, cardiovascular diseases, and diabetes.

The proliferation of government initiatives aimed at boosting athletic footwear sales is a prominent trend in the industry.

Expanding consumer purchasing power and disposable incomes have emerged as pivotal factors in this sector. As individuals' income levels rise, they exhibit a greater willingness to invest in athletic footwear with specific performance attributes, such as waterproofing, moisture management, temperature control, and friction regulation.

Furthermore, the increasing prevalence of diverse retail outlets, including hypermarkets and supermarkets, is poised to have a significant impact on the market in the years to come. At both the global and regional levels, governments, as well as local municipalities, are concentrating their efforts on promoting health and devising innovative strategies to raise awareness about the advantages of physical activity. Many affluent nations' governmental bodies are consistently working to create enticing healthcare incentives. This, in turn, is expected to drive a heightened demand for athletic footwear, as a substantial portion of the population becomes increasingly interested in sports and fitness activities.

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Competitive Landscape

The athletic footwear market is a fiercely competitive arena, boasting a diverse array of both regional and global players. These firms engage in relentless competition, vying for a competitive edge through a spectrum of factors, including product offerings, pricing strategies, material quality, and vigorous marketing campaigns. Notably, the digital and social media realms have become pivotal battlegrounds, serving as platforms for companies to broadcast their latest product launches to an eager audience.

- In September 2022, Asics Corporation made a resounding entrance with the launch of their groundbreaking Novablast 3 shoes. These cutting-edge footwear gems showcase a geometric Origami design seamlessly fused with Asics' state-of-the-art technology, delivering a unique cushioning experience that elevates the act of running into a dynamic and energizing journey.
- Meanwhile, in June 2021, Adidas unveiled their innovation in the form of the "Solarthon" golf shoe, which masterfully blends lightweight design with exceptional comfort. With an eye on exclusivity, Adidas plans to introduce the Solarthon in limited-edition shades of grey, blue, and white. What sets this shoe apart is the utilization of Adidas' Primeblue textile upper, a groundbreaking material woven from at least 50% Parley Ocean Plastic, aligning with the company's laudable "End Plastic Waste" initiative.
- In May 2021, Nike joined the competitive fray with the introduction of the "ZoomX Invincible Run" running shoes, a significant addition to their ever-expanding collection of athletic footwear. Drawing inspiration from their previous release, the "Nike React Infinity Run" shoes, this new creation showcases Nike's commitment to pushing the boundaries of design and performance in the athletic footwear segment.

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