Athletic Footwear Market - Global Industry Size, Market Share, Trends, Analysis And Forecast 2016 - 2024

Albany, NY -- (SBWire) -- 11/07/2016 --The study has further included recommendations and inputs given by industry experts in order to help the new and existing players in formulating effective business strategies. Athletic footwear includes shoes that are designed to perform sports and other physical exercises effectively. This footwear is designed using flexible soles made from synthetic or rubber, which offer comfort to the user. A wide range of athletic footwear are available for men, women, and kids. As per the research study, in 2011, the global athletic footwear market was worth US$74 bn and is projected to reach a value of US$84.4 bn by the end of 2018. The market is anticipated to register a 1.80% CAGR between 2012 and 2018.

The bill also requires the manufacturers to use American materials to produce the shoes, which means multiple ancillary industries are also likely to get a boost. New Balance is likely to land the contract, which will result in significant addition of workers in factories of both New Balance and their suppliers.

The influential role played by Asia Pacific in the global athletic footwear market, illustrated by the dominant 41.6% share it is expected to hold in the global market by 2018, has also had an adverse impact on the North America athletic footwear market. According to Transparency Market Research, the Asia Pacific market for athletic footwear is expected to exhibit the fastest growth rate in the forecast period between 2012 and 2018. Taking this into consideration, this bill could be a timely boost for the stagnated North America athletic footwear market, which has borne the brunt of increasing raw material prices and the market's maturation in the region's developed and prosperous

The growing awareness regarding a healthy lifestyle has encouraged several people to participate in sports, driving the overall athletic goods market in the next few years. The major players operating in the market are making efforts to introduce innovative designs to attract new consumers and augment sales. In addition, the increasing number of sports events, including ICC World Cup, Olympics, and FIFA World Cup, are also encouraging the youth to participate in sports, spurring demand for athletic footwear.

By product, the global market for athletic footwear has been divided into sports shoes, insert, backpacking shoes, and hiking shoes. In 2011, the insert segment dominated the market, holding a 36% share in the global market for athletic footwear. This segment is projected to grow rapidly, registering a 1.70% CAGR between 2012 and 2018. On the other hand, the sport shoes segment is also expected to grow at a fast pace throughout the forecast period.

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By geography, the global market for athletic footwear has been classified into Asia Pacific, North America, Europe, and Rest of the World. In the last few years, Asia Pacific dominated the market and is projected to account for a 41.60% share in the overall market by the end of 2018, owing to the growing population in this region. Europe is expected to hold the second largest position in the global market for athletic footwear. On the other hand, North America is projected to witness sluggish growth in the next few years, owing to the high cost of labor and raw materials.

The research study offers a detailed vendor analysis of the global market for athletic footwear and throws light on the competitive scenario. The company profiles of the leading players operating in the global market have been included in the research study. Some of the players mentioned in the research report are Wolverine Worldwide Inc., Skechers, USA Inc., Geox SpA, New Balance, Adidas AG, Under Armour Inc., Puma AG, Nike Inc., and Crocs. A detailed SWOT analysis of the prominent players has also been added in the scope of the research report.