The global Athletic Footwear Market is expected to witness a growth rate of 5.3% during the forecast period and was valued at US$ 65.2 Bn in 2018. The global athletic footwear market is likely to grow owing to factors like an increasing awareness towards health and wellness, rising population across the globe, and the active participation in sporting and fitness activities by people over the years..
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An inclination towards sporting activities among consumers in recent years is a major factor resulting in the rise in demand for athletic footwear over the years. Further, people are becoming more aware of health and fitness and therefore, they are focusing more on activities like gym, yoga, and jogging.
In addition to this, the expansion of e-commerce platforms over the years is also a major factor resulting in a rise in demand for athletic footwear. E-commerce has simplified the purchasing process of consumers by making easy and convenient. Online shopping is highly popular in developed economies such as U.S, Germany, and France.
However, problems such as counterfeit products destroy the brand image of manufacturers, thus restraining the overall market for athletic footwear. For instance, several unorganized market players manufacture duplicate footwear products of Nike and Adidas, among others, in order to grab customer attention, thereby affecting the company’s brand image.
Competitive Intelligence and Company Profiles
The key players in the global athletic footwear market are Adidas AG, Nike Inc., Reebok, Skechers USA, PUMA, Geox, Under Armour Inc., ECCO Sko A/S, Timberland, New Balance, Deichmann SE, BATA, Jack Wolfskin, The Aldo Group, Polartec, Asics Corp, and Columbia Sportswear, among others. The players operating in the market are focusing on new product development, product launches, and strategies such as mergers and acquisitions, in order to grab the attention of a greater number of customers.