Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Sneakers Market Size is Expected to Grow from USD 80.65 Billion in 2023 to USD 139.12 Billion by 2033, at a CAGR of 5.60% during the forecast period 2023-2033.
The global sneakers market refers to the industry focused on the manufacturing and distribution of athletic and casual footwear with an emphasis on comfort, functionality, and style. Key driving factors for the growth of the sneakers market include the growing fitness and health awareness, which has increased demand for performance and athletic footwear. Sneaker sales have also been significantly boosted by the influence of fashion and lifestyle trends, which are supported by social media, celebrity sponsorships, and designer partnerships. Sneakers are now more widely available to a worldwide audience because of the rising popularity of e-commerce and digital marketing techniques. Furthermore, consumers who are concerned with the environment are driven to products made with sustainable and eco-friendly materials and manufacturing techniques. However, fierce rivalry their performance in price wars, high production costs, especially for sustainable materials, and fake goods that harm a brand's sales and reputation.
The mid-top sneakers segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period.
On the basis of product type, the global sneakers market is divided into low-top sneakers, mid-top sneakers, and high-top sneakers. Among these, the mid-top sneakers segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period. The segment growth is attributed to its lightweight design, improved comfort, and range of motion, which makes it popular with athletes, having the desired style and flexibility.
The online segment accounted for the leading revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period.
On the basis of distribution channel, the global sneakers market is divided into department store, specialty stores, online, and others. Among these, the online segment accounted for the leading revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period. The segment growth can be attributed to increasing demand from customers for hassle-free shopping experiences globally, including product variety, customer reviews, discounts, and flexible payment alternatives.
The female segment accounted for a significant market share in 2023 and is anticipated to grow at a rapid pace during the forecast period.
On the basis of end use, the global sneakers market is divided into men, women, and kids. The female segment accounted for a significant market share in 2023 and is anticipated to grow at a rapid pace during the forecast period. The segment growth is driven by increasing female engagement in sports, athleisure trends, inclusive sizing, customized designs, collaborations between companies, and an increasing concentration by major corporations on elegant, efficient sneakers.
Asia Pacific is anticipated to hold the largest share of the global sneakers market over the predicted timeframe.
Asia Pacific is anticipated to hold the largest share of the global sneakers market over the predicted timeframe. The regional growth can be attributed increase driven due to a growing population, urbanization, and rising disposable incomes, especially in China, India, and Japan. The market expansion is further supported by growing health and fitness consciousness as well as robust online retail growth via platforms like Tmall and Flipkart.
North America is expected to grow at the fastest CAGR in the global sneakers market during the forecast period. The regional growth can be attributed high disposable wealth, changing lifestyles, and heightened fashion consciousness cause consumers to prioritize comfort over cost. The increase is driven by the U.S., which has a strong sneaker culture and rising demand, especially among younger people. The market's growth is further supported by the fact that shoes are frequently used in informal and sporty contexts.
Company Profiling
Major vendors in the global sneakers market are Nike Inc., Adidas AG, New Balance Athletics, Inc., ASICS Corp., Kering SA, Skechers USA, Inc., Under Armour Inc., VF Corp., Puma SE, Relaxo Footwears Ltd, and Others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global sneakers market based on the below-mentioned segments:
Global Sneakers Market, By Product Type
Global Sneakers Market, ByDistribution Channel
Global Sneakers Market, By End Use
Global Sneakers Market, Regional
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