The athletic equipment and footwear market size was valued at $224.7 billion in 2018, and is projected reach $323.4 billion by 2025, registering a CAGR of 8.6% from 2021 to 2025. The outside USA region led in terms of athletic equipment and footwear market share in 2018 and is expected to retain its dominance throughout the forecast period.
Sportswear and footwear have experienced upgradations in their features over the years. In addition, athletic equipment and footwear market players are investing heavily in R&D to provide innovative as well as improved sportswear and footwear in the market. For instance, manufacturers in the market are developing Internet of Things-embedded sport shoes, which enable athletes to monitor, track, and analyze timing, pace, distance, and heart rate, and thus improve their performance, making these products more popular among sports enthusiasts. For instance, Adidas launched electronic-enabled shoes (smart shoes) that exhibit shock-absorbing feature depending on body weight, running style, speed, and running surface. These shoes use a magnetic sensing system that measures cushioning level, adjusted via digital signal processor, which controls motor-driven cable system. This, in turn, is likely to drive the athletic equipment and footwear market expansion in the upcoming year.
However, the availability of counterfeit products is a key factor that restrains the market growth. This is attributed to the fact that these products do not comply with the guidelines outlined by the regulatory bodies across the globe. As per a study by the Office for Harmonization in the Internal Market (OHIM), one of the European Union’s largest intellectual property agencies, the amount of total revenue lost due to counterfeiting of sports equipment is about 6.5% of the total sales across the EU-28. Availability of such counterfeit products leads to loss of job creation, which is expected to be created in the absence of these products. However, easy availability of such products on online portals and increase in accessibility & convenience of purchasing these products through the internet have paved a way for these products into the athletic equipment and footwear market.
Nevertheless, the number of women competing in sports has increased significantly over the last three decades. In addition, women participation in sports across the world has presently become one of the macro trends now in the sport industry. For instance, approximately 40–45% of women participated in Paralympic and Olympic Games hosted by Rio de Janeiro in the year 2016. Similar trends have been witnessed across myriad of sports with increased participation of women across countries. Engaged players in the industry can target new demographic niche to capture lucrative opportunities arising in the global athletic equipment and footwear market.
Segment review
Sports footwear are sporting goods that are majorly worn while performing sporting and recreational activities or during workout sessions. Athletic footwear include walking/running shoes, sneakers, cross-training/fitness shoes/aerobic shoes, hiking shoes/boots, basketballs shoes, sports sandals, tennis shoes, boat/deck shoes, hunting shoes, baseball shoes, skateboarding shoes, golf shoes, soccer shoes, cheerleading shoes, cycling shoes, water sports shoes, bowling shoes, track shoes, volleyball shoes, and wrestling shoes. They are easily available in the market through various distribution channels, including franchise store, online stores, supermarkets/hypermarket, and specialty stores. In addition, sports and equipment such as archery, backpacks, badminton sets, baseball, basketballs, bicycle, billiards/pool cue sticks, binoculars, bowling, exercise, eyewear sunglasses, fishing, footballs, golf, sport protective helmets, ice hockey, inline skates, lacrosse sticks, paintball guns, racquets, scooters, and skateboards are considered for global analysis.
By Type
Equipment segment would exhibit the highest CAGR of 9.1% during 2021-2025.
Based on type the global athletic equipment and footwear market is studied across equipment and footwear. The equipment segment of the market leads in terms of market share and is poised to grow with highest CAGR during the forecast period.
By Region
Outside USA region would exhibit the highest CAGR of 9.5% during 2021-2025.
The report focuses on the athletic equipment and footwear market growth prospects, restraints, and opportunities of the global market. The study provides Porter’s five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the athletic equipment and footwear market.
Some of the major players included in the athletic equipment and footwear market analysis are Adidas AG, Asics Corporation, Brooks Running Company, Fila Holding Corporation, Li Ning Company Limited, New Balance, Inc. Nike, Inc., Puma Se, Skechers USA, Inc., Under Armour, Inc., Callaway, Samsonite, Yonex Co., Ltd., Mizuno Corporation, Precor, Inc., Nautilus International, Inc., and Cybex International, Inc.
Covid-19 Impact Analysis
- Athletic equipment and footwear industry is profoundly impacted due to pandemic owing to lockdowns and widespread travel restrictions.
- The online sales channels have gained high traction in the last year as a result players operating in the industry are strengthening their digital presence.
- The global athletic equipment and footwear market is likely to rebound by the end of the year 2021 with the rollout of mass vaccination programs and with relaxation in restrictions and lockdowns
- Increasing awareness about health and fitness to further spur global demand for athletic equipment and footwear in post Covid world.
- The COVID-19 pandemic has a significant negative impact on the athletic equipment and footwear players, due to disruption in supply chains.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging athletic equipment and footwear market trends and opportunities.
- The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing athletic equipment and footwear market opportunities in the market.
- The athletic equipment and footwear market forecast is offered along with information related to key drivers, restraints, and opportunities.
- The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
Athletic Equipment and Footwear Market Segments
By Type
- Equipment
- Footwear
By Region
- USA
- Outside USA
- Key Market Players
- Adidas AG
- Asics Corporation
- Brooks Running Company
- Fila Holding Corporation
- Li Ning Company Limited
- New Balance, Inc.
- Nike, Inc.
- Puma SE
- Skechers USA, Inc
- Under Armour, Inc
Athletic Equipment and Footwear Market Report Highlights
| Aspects | Details |
 By EQUIPMENT TYPE |
|
 By FOOTWEAR TYPE |
|
 By Region |
|
 Key Market Players | NIKE, INC., .LI NING COMPANY LIMITED, UNDER ARMOUR, INC, ADIDAS AG (ADIDAS), FILA HOLDING CORPORATION, NEW BALANCE, INC., BROOKS RUNNING COMPANY, SKECHERS USA, INC., ASICS CORPORATION, PUMA SE |
Analyst Review
The global sports industry is experiencing rapid evolution initiated by the private sector and government sector along with nonprofit organizations. The growth of the global sports, fitness, and footwear industry is majorly driven by increase in number of clubs, expansion of sales channels, extensive promotion & advertising, and integration of advanced technologies in equipment & footwear. The next decade of sports industry will be driven by digitalization, hence, IoT and AI will remain in cynosure providing customized and personalized experience to users, thus increasing customer engagement.
The outbreak of the COVID-19 pandemic has resulted in human behavior transition. Consumers are now more concerned about their health and well-being. In addition, the pandemic has accelerated changes, which are likely to sustain in the post pandemic world. Moreover, rise in penetration of e-commerce; surge in demand for sustainable products; and increase in home workouts activities, running, and Yoga/Pilates have contributed toward the market growth amidst the pandemic. Many brands have come up in pandemic and have generated huge profits by catering to a specific target audience.
Albeit uncertain conditions of second/third waves across countries and dilatory vaccination across countries, majority of CXOs are confident and foresee positive outlook for the global market. Conversely, some players have leveraged opportunities arising amidst the pandemic and have successfully reaped profits during highly uncertain business environment.
The athletic equipment and footwear market size was valued at $224.7 billion in 2018.
The global athletic equipment and footwear market is poised to grow with a CAGR of 8.6% during the forecast period.
Kindly raise an inquiry through the chat box and our business executive will get in touch with you with the details on the purchase options.
The COVID-19 pandemic has a significant negative impact on the athletic equipment and footwear players, due to disruption in supply chains.
Some of the leading players in the athletic equipment and footwear market are Adidas AG, Asics Corporation, Nike, Inc., Puma Se, Skechers USA, Inc., Under Armour, Inc., Samsonite, Yonex Co., Ltd., Mizuno Corporation, Precor, Inc., Nautilus International, Inc., and Cybex International, Inc.
Outside USA region holds the maximum market share of the athletic equipment and footwear market.
The base year calculated in the athletic equipment and footwear market is 2018.
The forecast period in the athletic equipment and footwear market is from 2021 to 2025.
Loading Table Of Content...
