Albany, New York (PRWEB) July 24, 2014
According to the report, the global athletic footwear market, which had market value worth USD 74.7 billion in 2011, could grow at a CAGR of 1.8% during the forecast period of the report which is from 2011 to 2018. It will reach market value worth USD 84.4 billion by 2018. Currently, sales in the Asia Pacific region earn this market its major chunk of revenues. This region with world’s largest share of population is expected to amass nearly 41.6% market shares of the industry by 2018 and would be closely followed by Europe. The market in North America, on the other hand is expected to observe growth at a relatively slower pace owing to reasons such as high material and labor cost and strong competition.
Title: Athletic Footwear Market
Published: September 2012
Price: US$ 4,395.00 (Single User)
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Some of the major reasons driving growth of this industry are growing world population, rise in disposable income in major economies, rising awareness about healthy lifestyle, and the corresponding rise in demand for comfortable and innovative footwear.
Consumer-wise, the market is divided into segments such as men, women, and kids. Amongst these the men’s footwear section is the lead revenue generator and is estimated to have nearly 62% share of the overall market. This is followed by the women’s footwear section with nearly 29% market share. This section (women’s footwear) is estimated to grow at a CAGR of 1.3% from 2011 to 2018 states the report. The section of kid’s footwear is expected to observe the fastest growth rate, a CAGR of nearly 1.3% during the forecast period.
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Product-wise, the segment of shoe inserts is currently holds the major chunk of the market share, an estimated 36% and is likely to observe growth at a CAGR of 1.7% during the forecast period. The sports footwear segment currently holds nearly 355 shares of the market and is expected to experience the fastest growth at a CAGR of 2.1% till 2018. The segments of hiking shoes and backpacking shoes hold market shares worth 19% and 9% respectively.
Geography-wise, the region of Asia Pacific is the lead revenue generator of the market and holds nearly 42% market shares. Its market position is supposed to have benefitted from factors such as heavy concentration of leading footwear manufacturers and the cheap labor and raw material cost.
The overall market is dominated by five major players namely - Nike, Adidas, Puma, Reebok, and Asics. These five brands solely cover nearly 80% market share of the global athletic footwear market. Other players in the market are Converse, Sketchers, New Balance, Vans, K-Swiss, and Saucony.
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