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The global sports footwear market is expected to reach at USD XXX Million by 2023 from USD XXX Million in 2017. The market is forecasted to witness an enormous amount of growth due to growing population around the globe specifically in Asian countries. Moreover, today there are enormous amount of young population interested in fitness activities and sports which is definitely fueling the market growth.
It has been seen that during Olympics like ICC World cup, common wealth games and other sports championship, this market gathers a good amount of revenue share. The observation has been made during the three consecutive years i.e. 2014, 2015 and 2016.
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Industry Insights –
The study aims to provide an overview of the sports footwear market so that market can be evaluated on the basis of market on the basis of market size, opportunities available in the market for the entry as well as existing competitors. The market is assumed to grow in near future and aims to target its customers that overall affect the demand of the market. The market is divided into segments and further in sub-segments to analyze the market properly so that every aspect of the market is considered while evaluation of the market. Further, the market is dynamic in nature and continuously changes to cater the needs of the customers.
Segmentation Insights -
The sports footwear market is divided on the basis of application and type. On the basis of type, it is bifurcated into Adult Sports Footwear, Children Sports Footwear. By application it is bifurcated into Competition, Amateur Sports and Lifestyle.
Adult sports footwear to grab the market –
Sports footwear market is continuously rising because of the increase in the demand of the adult sports footwear in the market. The demand of the adult footwear is rising because of the rising switch towards fitness in the developing countries like India. Women footwear has also shown rapid increase but restricts a bit when compared to men. The increasing inclination towards fitness and health related activities have increased the overall demand of the adult sports footwear.
Region wise Analysis –
The research provides deep insights about the geographical distribution of the market. The market is segmented into various areas to analyze the overall revenue earned from a particular area. As per the reports, North America dominated the market in 2017 and it will continue its lead during the projected period of 6 years. The sports footwear market is growing market because it is commonly used in day to day lifestyle as it comfortable to wear and easy to carry them. There are lot of sports enthusiasts, fitness trainers and adventure loving citizens in the country like U.S.A which makes the sports market one of the leading markets of the era.
However, Asia Pacific region can witness the highest growth in number as compared to all other regions. This is because of wide population in countries like India and China. Moreover, there is an enormous increase in the disposable income among the young generation foster the market growth.
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Competition Analysis -
Some of the key market players are Adidas, Nike, New Balance, Under Armour, ASICS, MIZUNO, Puma, Lining, Ecco, Kswiss, Skecher, ANTA, and 361°, PEAK, China Dongxiang, Xtep, Guirennia and Other Major Key Players. All these companies are close competitors to each other. Still, Nike grabs the highest share in the market followed by Adidas and Puma.