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As per the research report by KD Market insights, Global athletic footwear market is currently accounted for USD 664.35 million in 2017 and is expected to reach USD XXX million by end of 2023. There will be an impressive compound annual growth rate during 2018-2023.
The study involved the deep study of the athletic footwear market to give an estimation of market size, market value, opportunities and challenges during the forecast period. It also involves the findings of competitors and various regions to estimate the key factors that are going to impact growth. Other than this, the market has been divided into various segments and sub-segments to find industry insights. The report also presents business strategy, new product development, and research & development expansion.
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Top impacting factors for Athletic footwear market growth:
- New and emerging trends in sports and fitness
- Consumer lifestyle is changing day by day
- Increasing role of E-commerce industries
- People are using shoes for various sports activity
Sports Shoes are going to lead the Market –
Sports shoes are much more in demand in previous years. The study shows that this will get continued in the future as well. The demand for sports shoes as compared to any other shoes is comparably high. However, running shoes hold the second position in the list. The impact is due to the increasing health concerns among the mid-age population. Most of the people go to the gym on a daily basis and sports shoes are best for all type of events.
By Demography, Men is going to dominate the market-
Men’s footwear has covered half of the market revenue in 2017. This gender segment will continue to dominate the athletic footwear market by end of forecasted period. Women’s footwear was previously unexplored but trying to catch-up the things gradually. This is because developing and under-developed countries have comparably less awareness of fitness among women players as compared to developed countries. The situation is however changing, and coming years can boost the women athletic as well.
By Distribution Channel, Online Stores are going to dominate the market-
The recent year has witnessed a lot of changes in the way people used to shop for products. The change could be clearly witnessed in this market as well. With E-commerce on the boom, most of the sales for athletic footwear come from online stores and thus it has become of the vital sources of revenue in this market.
Region wise Analysis –
The research goes a little deep to find out the geographies and various regions that are going to affect the revenue of the market. As per the reports, North America dominated the market in 2017 and it will continue its lead during the projected period of 6 years. There are a lot of sports enthusiasts, fitness trainers and adventure loving citizens in the country like U.S.A which makes it the leading place for monetary benefits for athletic footwear.
However, the Asia Pacific region can witness the highest growth in number as compared to all other regions. This is because of the wide population in countries like India and China. Moreover, there is an enormous increase in disposable income among the young generation foster market growth.
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Competition Analysis -
Some of the key market players are Nike, Inc., New Balance Athletics, Inc., Skechers USA Inc., Puma Se, ASICS Corporation, Under Armour, Inc., Wolverine World Wide Inc., VF Corporation., FILA Korea, Ltd., Woodland Worldwide, Saucony, LLC. All these organizations have done a fabulous job in developing their name in the market and adhering to the customer needs.