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(Health-NewsWire.Net, September 08, 2015 ) The major factors driving the growth of the global athletic footwear market include, growing world population, increasing awareness about healthy lifestyle, upsurge in disposable income within major economies, and the corresponding increase in demand for innovative and comfortable footwear.
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Athletic shoe is a generic name for the footwear primarily designed for sports or other forms of physical exercise, but in recent years they are used for casual activities. Athletic footwear is used for sports and other forms of training, such as walking, jogging, running, and aerobics. This includes basketball shoes, fitness shoes, walking and running shoes, and so on.
On the basis of consumer goods, the global athletic footwear market can be segmented into men, women, and kids. Amongst these, the men’s footwear section dominates the global athletic footwear market, with approximately 62% share. This is followed by the women’s footwear section with nearly 29% of the overall market share. By category, the global athletic footwear market can be classified, into insert, sports, hiking, and backpacking boots. The insert footwear segment can be further divided, into aerobics shoes, running shoes, atheleisure footwear, walking shoes. The sports segment can be divided into baseball footwear, cricket footwear, soccer shoes, basketball footwear, and tennis shoes. Hiking shoes segment can be classified into outdoor/rugged footwear, seasonal boots, mountaineering boots, specialty boots, trekking and walking boots, and other athletics footwear. By retail distribution, the market can be categorized into store based, and non-store based retail distribution. The store based retail distribution can be segmented further into discount shoe stores, mass discounters, department stores and chains, shoe stores, sports and athletic goods stores, specialty apparel stores, and off pricers; while the non-store based retail distribution can be divided, into teleshopping, internet, and catalog.
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Geographically, Asia-Pacific dominates the global athletic footwear market with nearly 40% share. The key reason for the dominance of Asia-Pacific is cheap labor, heavy concentration of leading footwear manufacturers, and availability of cheap raw material. The growing interest in athletic sports, improved awareness of healthy lifestyles, escalating demand for innovative footwear, and increase in seasonal sales (due to sports events), are some of the factors contributing to the growth of the athletic footwear market in U.S. The market in North America is anticipated to grow at a slow pace, owing to reasons such as high material, labor cost and strong competition.
The escalating raw material cost is a major factor hindering the growth of the global athletic footwear market. The average price of a shoe’s upper leather rose to 8.6% in 2014, which affected the athletic footwear market in that year.
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The major competitors in the global athletic footwear market are Nike Inc, Adidas Group, PUMA, and ASICS Corporation. These four company together account for approximately 80% market share of the global athletic footwear market. Other competitors in the global athletic footwear market, include Converse, Inc., SKECHERS USA Inc., New Balance, VANS Inc., K-Swiss Inc., and Saucony Inc. Wolverine World Wide Inc. Crocs Inc, Under Armour INC., BK Footwear, Brooks Sports Inc., and Osiris Shoes.
Various new companies in the athletic footwear market have been gained importance in the recent past. For instance, Skechers USA became the second largest athletic footwear company in 2014. The low price of Skechers’ products has been the key reason for its growth in U.S. market.
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