Global Athletic Footwear Market is Expected to Reach USD 84.4 Billion in 2018: Transparency Market Research
Albany, New York (PRWEB) June 06, 2013
Asia Pacific is leading the athletic footwear market with maximum share and is expected to enjoy a 41.6% share of the market in 2018, closely followed by Europe. The North America market is growing at a relatively slower rate, due to high labor cost, raw material cost and strong competition.
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Factors driving the global athletic footwear market include growing awareness about healthy and active lifestyles, rising demand for comfortable footwear, rising demand for innovative footwear designs and technology, growing population and rising disposable income levels. The market is projected to grow at a CAGR of 1.8% from 2011 to 2018, and is expected to reach USD 84.4 billion in 2018.
The shoe insert market, the largest segment, holds 36% market share of the athletic footwear market and is expected to grow at a CAGR of 1.7%. The sports footwear market is expected to grow at the fastest CAGR of 2.1% till 2018 and holds 35% market share of the athletic footwear market. The hiking shoes segment holds 19% market share and backpacking boots 9% market share of the athletic footwear market.
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Based on consumer groups, the athletic footwear market is segmented into men, women and kids segments. The men's footwear market is a leading segment in the consumer group with 62% market share of the overall athletic footwear market. The second largest segment is the women's footwear market, which holds 29% market share growing with a CAGR of 1.3% from 2011 to 2018. Due to the high demand for comfortable and sporty footwear for kids, the demand for kids' footwear is expected to grow at the fastest CAGR of 2.8% from 2011 to 2018.
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The athletic footwear market is analyzed over four regions - North America, Europe, Asia Pacific and Rest of the World. The Asia Pacific region accounted for the largest share of 42% of the overall athletic footwear market and is expected to grow with a CAGR of 1.7% from 2011 to 2018. Athletic footwear manufacturers are heavily concentrated in the Asia Pacific region. This continent has produced 87% of all the pairs of shoes produced all over the world. The athletic footwear market has the highest growth in the Asia Pacific region due to the cheap labor cost and raw material cost.
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Nike is a world-leading brand in the athletic footwear market and holds the maximum share of 41% in the industry. The athletic footwear market is quite consolidated with the top five players, Nike, Adidas, Reebok, Puma and Asics. There is strong competition in these niche players. These brands hold around 80% market share of the athletic footwear market. Other players in the market are New Balance, Converse, Sketchers, Vans, Saucony and K-Swiss.
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