Athletic Footwear Market Size Is Forecast to Grow at Approximately 3% Cagr from 2016 to 2023

Athletic Footwear Market size was USD 80 billion in 2015 and is forecast to grow at approximately 3% CAGR from 2016 to 2023. Global shipments were over 3.5 billion units in 2015.

The athletic footwear market incorporates sportswear, trekking shoes, aerobics shoes, walking shoes, and running shoes. Increased awareness regarding healthy lifestyle that motivates people to engage into some kind of sports activity will drive the industry in the coming years. This motivated the leading brands to come up with innovative and comfortable sports footwear products. Growth in wholesale and retail business, efficient supply chain, consumers’ willingness and increased purchasing power have fueled the global athletic footwear market.

Presently, men’s athletic footwear market captures about 60% of overall revenue generated. Women’s footwear accounts for around 25% share, with the rest occupied by products for children, which are estimated to witness rapid revenue growth.

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The ecosystem is dominated by five leading brands that collectively account for around 80% of the global athletic footwear market share. Major players are Reebok, Puma, Nike, Adidas, Asics, New Balance Skechers, Converse, Vans, and Saucony.

Nike, Adidas, and Asics led the industry in 2015. The key strategies adopted by these players are more number of retail outlets, large global customer base, and strong distribution channel. Consumers’ inclination for brands differs on the basis of region, For example, Asics and Puma dominate the European industry, while U.S. based companies VF Corp., Skechers, and New Balance have strong presence in North America.

Asia Pacific athletic footwear market share was approximately 40% in 2015, with the region expected to continue dominating global industry revenue through the forecast timeframe. Europe is also forecast to remain a sizable regional...