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APAC Dominance in Global Athletic Footwear Market to Continue

transparencymarketresearch

Posted 1st April 2019.

The global athletic footwear market comprises of few key players. According to a report by Transparency Market Research, the key players in the market are adopting various strategies to keep the consumers engaged. These strategies include robust distribution channel, iconic brand presence, engaging in luxurious and large retail spaces. These few players monopolize large part of the market. To boost the products sales, the retail agents are promoting impulsive purchasing. The leading vendors in the market are engaging in providing utility, variety, and comfort in their product portfolio in order to keep their consumer engaged and to hold larger share in the market.

The research report has been compiled using primary and secondary research methodologies to present an accurate and exact case of the global athletic footwear market. The report is focused on providing its readers a granular view of the segments in the global market along with the factors influencing them. The analysts have described the competitive landscape in complete detail and have shared details pertaining to the bargaining power of suppliers and buyers. The document is collated with comments and recommendations from expert market leaders for new and existing players.

Global Athletic Footwear Market: Drivers and Trends

The research report states that the opportunity in the global athletic footwear market is likely to be worth US$84.4 bn by the end of 2018. During the forecast years of 2012 and 2018, the global athletic footwear market is expected to surge at a CAGR of 1.80%. The consistently growing inclination towards sports is the primary reason for the rising demand for athletic footwear in the coming few years.

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The huge pool of young population, especially in the developing countries, is anticipated to spike the demand for athletic footwear in the near future. Furthermore, increasing participation in international sporting events such as the ICC World Cup, FIFA World Cup, and the Olympics are collectively expected to boost the demand for high quality of athletic footwear. The rising number of trekking, fitness, and cycling enthusiasts are also expected to trigger a swift uptake of athletic footwear in the near future. However, the global athletic footwear market is being hampered by the rising cases of piracy and growing concerns about the disposal and manufacturing of athletic footwear on the carbon footprint of manufacturing nations.

Global Athletic Footwear Market: Geographical Outlook

Geographically, the global athletic footwear market is segmented into Europe, North America, Asia Pacific, and Rest of the World. According to the report, Asia Pacific holds a dominant position as the regional market is anticipated to hold a share of 41.6% in the global market. The huge population base and the remarkable rise in the disposable incomes of the people in the region are both expected to act as key factors in propelling the demand for athletic footwear in the coming few years. The increasing participation of overall population of Asia Pacific in sporting activities has also had a significant impact on the growing demand for athletic footwear in the recent years.

Europe is the second-leading regional market that has shown a significant growth in the demand for athletic footwear. The increasing awareness amongst individuals to exercise in order to live a healthy lifestyle is an integral component fueling the growth of athletic footwear market across Europe. On the other hand, North America athletic footwear market is likely to remain sluggish due to maturing markets.

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Key Players Mentioned in the Report

Some of the key operating players in the global athletic footwear market are Sketchers, New Balance, Nike, Adidas, Reebok, Asics, Puma, Vans, K-Swiss, and Converse.

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