Athletic Footwear Market Revenue Forecast Report: Size, Share, Recent Trends, Strategic Developments, Segmentation Analysis, and Evolving Opportunities, 2023–2030

Market Overview

The athletic footwear market revenue is USD 134.1 billion in 2023 (E), and it will advance at 4.6% CAGR during 2023–2030, to reach USD 183.4 billion by 2030.

The growth of the industry is attributed to the booming retail e-commerce sector, surging disposable income, and increasing consciousness regarding the health benefits of fitness activities and sports. Additionally, since the lockdowns were lifted, people have started going on treks and to the gym, to keep themselves fit.

The younger generation is increasingly adopting a healthy lifestyle by actively participating in sports and other physical activities. Moreover, people are increasingly becoming aware that fitness activities and sports can ensure health and lessen the risk of chronic illnesses, including cardiovascular diseases, diabetes, hyperlipidemia, and depression.

Furthermore, people are also becoming aware of the importance of wearing the proper type of shoes for sports and other activities, to prevent leg injuries, muscle injuries, knee pain, back pain, and hip pain. This focus has been shaped, in part, by the aggressive marketing campaigns of the key players, who offer specialized footwear for different outdoor activities. 

Shift toward Healthy Lifestyles Is Key Driver

The shift toward healthy and active lifestyles is a key factor boosting the growth of the industry. The number of women participating in sports and fitness activities, such as running, aerobics, and yoga, is increasing continuously. Therefore, women consumers are also increasingly purchasing more comfortable and stylish athletic footwear. Additionally, the increasing popularity of athleisure has affected how Generation Y parents select their sportswear.

Intense Market Competition due to Fragmented Nature

The global athletic footwear industry is fragmented due to the presence of numerous established businesses, which increases the level of competition. Thus, the players in the industry are employing several techniques, such as mergers, acquisitions, and joint ventures, to offer more-innovative products and enhance their presence.

For example, Jacquemus and Nike Inc. introduced a new pair of sneakers in June 2022. The designs of Jacquemus often integrate elements from the sports world, such as diving or hiking attire.

Utilization of Recycled Material Is Key Trend

The utilization of recycled material in manufacturing shoes is a major trend in the industry. The players are concentrating on using recycled materials in shoes to meet their sustainable goals, by lessening their carbon footprint.

For example, in January 2023, Decathlon and its soccer (football) brand, Kipsta, introduced a fully molded soccer boot, Traxium Compressor FG. It is produced in a single step, without waste or glue, in collaboration with Demgy, a French plastics manufacturer. It comes with a ten-year warranty and is recyclable.

Such moves are a result of the increasing environmental concerns arising from the activities of the footwear sector. Athletic shoes require high-quality leather, plastics, and foam, along with a range of chemicals. This is why the industry contributes significantly to water pollution, which is now propelling its focus on sustainability.

Running Shoe Has Largest Share

Based on type, the running shoes category leads the industry in 2023. This is because of the increasing usage of running shoes daily and their accessibility in various prices ranges. In addition, the surging requirement to engage in various activities to prevent chronic illnesses is expected to boost the progress of this category during the projection period.

The trekking & hiking shoes category is expected to advance at a healthy rate. This is primarily because of the technological advancements, which have offered more flexibility and comfort for hikers. Treks, especially those undertaken in the mountains, are seen as a popular way to relax, be amidst nature, and spend some quality time.

Online Category To Observe Fastest Growth

The specialty stores category, based on distribution channel, generates the highest revenue in the market. This is attributed to the availability of various athletic footwear brands in a single store and the trust of customers in specialty stores as they offer high-quality products.

The online category is expected to witness the fastest growth during the projection period. The popularity of e-commerce is rising rapidly because online shopping offers a more-convenient and simpler purchasing process as compared to other channels. Moreover, people in developed nations, such as Japan and the U.S., are extremely fond of online shopping. Additionally, all major brands offer their products on their own websites and third-party online portals.

Women Category To Grow Significantly

The men category, based on end user, leads the industry in 2023, and it is expected to remain in the lead throughout this decade. This is mainly attributed to the extensive participation of males in various sports activities. As a result, manufacturers are continuously producing innovative athletic footwear targeted at men.

The women category is expected to witness significant growth during the forecast period. The popularity of sports is continuously rising among women, mainly in previously unexplored markets. The participation of women athletes from developed countries in major sporting events is still significantly higher than in underdeveloped and developing nations.

Additionally, the level of consciousness concerning fitness among women is significantly higher in developed nations than in emerging economies. However, governments across developing nations are increasing their effort for promoting women to participate in various fitness and sports activities. This is expected to drive the demand for women’s athletic footwear in newer markets. 

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North America Is Significant User of Athletic Footwear

North America is a significant contributor to the athletic footwear market, owing to the existence of major industry players. Moreover, the increasing disposable income, along with the shifting fashion trends, is boosting the regional industry.

Furthermore, the surging spending of customers on themselves leads to the mounting demand for sports shoes in the continent. For instance, as per the United States International Trade Commission, imports of footwear into the U.S. increased by USD 6.5 billion from 2020 to USD 27.2 billion in 2021, because of the increasing spending of consumers on these items of clothing.

APAC, the largest market, is likely to witness the fastest growth during this decade, attributed to the expanding e-commerce sector, as well as the rising disposable income in the region. Moreover, the increasing interest to participate in sports, such as cricket, soccer, tennis, athletics, boxing, and hockey, is supporting the expansion of the regional industry. Additionally, the surging investments in sports infrastructure in India, China, and Japan will boost the market growth in the region.

Major Players in Athletic Footwear Market Are:

• Nike Inc.
• Adidas AG
• PUMA SE
• ASICS Corporation
• Reebok International Ltd.
• SKECHERS USA Inc.
• New Balance Athletics Inc.
• VANS Inc.
• FILA Holdings Corp.
• Lotto Sport Italia SpA
• Wolverine World Wide Inc.
• Crocs Inc.
• Under Armour Inc.
• Brooks Sports Inc.
• Osiris Shoes