Published on : Sep 04, 2017
Albany, New York, September 4, 2017: Sports shoes are as popular now as they have ever been. The rising trend of adopting a healthy lifestyle and increasing active participation of the young population in sports and related activities is expected to propel the demand for the sports footwear market. Market Research Hub (MRH) has recently added an essential study on this sector's activity, which is titled as “Global Sports Footwear Market 2017-2021” to its vast collection of market research reports. This research study focuses on the major factors and trends driving the growth of the market, by analyzing the global market with a prime focus on key regions such as APAC, EMEA, Europe and Americas. Key findings of the study reveal that the global sports footwear market will grow rapidly at a CAGR of 2.71% during the forecast period of 2017-2021.
Initially, the report discusses the market scope along with the key market highlights to analyze the sports footwear market’s development status and future growth prospects. Sports footwear refers to the shoes designed for physical activities. The different types of sports footwear available in the market include running shoes, training shoes, football shoes, basketball shoes, baseball shoes, and others. A huge industry worth billions worldwide, the sports shoe shows no sign of shrinking. Nowadays, Sports shoes are as much a fashion item as they are practical footwear for sport, due to this it has high demand among consumers.
Looking to the market overview, the research identifies that the premiumization of these innovative sports footwear products will be one of the major factors that will have a positive impact on the growth of the market. Current trends in this market are growth in digital and social media marketing, increasing adoption of shoe knitting technology, product customization and personalization; and rising focus of manufacturers on product designing.
Moreover for a competitive analysis, the report’s authors have segmented the global sports footwear market on the basis of region, distribution channel and product type. Distribution channels are online and offline stores. In terms of geography, the rising health concerns among people in APAC is driving the demand for sports footwear in the region, due to the growing participation of health-conscious people in fitness activities, training, and other sports activities. To calculate the market size, the report considers value sales of sports footwear products.
Through the regional analysis, the report analyzes that the market is highly competitive in nature, with many leading players operating across various locations. A vital section of the report covers vendor landscape of the market which highlights Key vendors available in this market, such as New Balance, SKECHERS USA, Adidas Group, ASICS and Nike. Nike and Adidas have robust market penetration on account of their strong distribution channel, the number of retail outlets and extensive consumer base. Some other prominent vendors are AVIA, Eddie Bauer, NEWTON RUNNING, Under Armour, SAUCONY, British Knights etc.
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