As Athlesiure Becomes Mainstream, Athletic Footwear Market Rises, says Market.us

Athletic footwear refers to shoes designed for outdoor activities. According to global consumption volume, these shoes have become increasingly fashionable and casual around the world, offering customers various choices of color, design and price to meet individual needs. The athletic footwear market has seen a growth in sales through innovative product launches as well as appealing marketing and promotional initiatives.

According to market.us,“The global market for athletic footwear is expected to be worth around USD 203.84 billion by 2032 from USD 115.5 billion in 2021. This market is forecast to grow at a compound annual growth rate of 5.3% between 2023-2032.”

Anurag Sharma, senior research analyst at market.us said, “The major factors driving global athletic footwear market growth include rising obesity rates and diabetes, rising participation in outdoor activities like running or cycling, increasing awareness about physical fitness, rising youth interest in sports like cricket, badminton and tennis as well as an increasing need for high-performance branded shoes.”

Designer athletic shoes featuring elements of sport design are becoming more and more sought-after by consumers in line with the athleisure trend. As active lifestyles lead to greater activity levels, demand for running and cycling shoes has grown substantially. Attractive yet comfortable footwear for everyday activities is becoming more important due to rising interest in aerobics, swimming, and yoga classes.

Women and girls are increasingly purchasing athletic footwear as the demand grows for more sports-specific options. Athleisure has become an increasingly popular trend, influencing even millennial parents when selecting footwear. All age groups – baby boomers, Generation X, Generation Z and millennials alike – are well-versed in athletic footwear due to their participation in various sports activities.

Other factors contributing to market growth include an increasing trend towards athleisure at workplaces and other casual occasions, celebrity endorsements of premium athletic shoes, and increasing numbers of international sports events and tournaments such as FIFA World Cup, Olympic Games and Super Bowl.

The athletic footwear market has been slowing due to rising environmental concerns. Government agencies and environmental groups are taking active steps to combat pollution in rivers and the environment. Greenpeace’s report on pollution in rivers referred to Puma, Nike, Adidas as “Dirty Laundry”. According to the report, Puma worked with Chinese suppliers who contributed to pollution along the Yangtze- and Pearl rivers.

North America is expected to have a dominant market share due to the presence of well-known companies like Nike, Reebok and Under Armour in countries like the United States and Canada. Furthermore, changing fashion trends and an expansive income base are impacting this region’s shoe demand; according to US International Trade Commission estimates, footwear spending totaled USD 82.5 billion in 2018, an increase of 3% compared to 2017.

Athleisure is becoming more mainstream, which has an effect on how millennial parents choose their shoes. Due to the presence of many established businesses, the global athletic footwear market appears fragmented – further increasing competition within it.

Players in the industry use various strategies such as joint ventures and mergers to stay ahead. In June 2022, Nike and Jacquemus unveiled a pair of sneakers featuring elements drawn from sports like hiking, diving, and other attire. These designs often incorporate elements from other worlds to give customers something truly unique.

With the athleisure trend, consumers are increasingly selecting designer athletic shoes with sports-inspired design elements. Running and cycling footwear sales have seen a steady rise due to an increasing interest in active lifestyles such as running, yoga and aerobics – which has driven women to purchase more athletic footwear. Athleisure has become increasingly popular over time – leading millennial parents to opt for athletic footwear instead of sneakers. Athletic footwear also enjoys popularity across all age groups such as baby boomers, Generation Z and Generation X due to its ability to keep participants engaged in sport activities.