Rockville, MD -- (SBWire) -- 02/05/2018 --Evolution of athletic shoes technology has led to a significant transformation in the design, and functions of the sports footwear. Besides providing protection to the users during the athletic, fitness and sports activities, the sports footwear is equipped with enhanced technological features that boost the performance of the end users. As demand for smart sports shoes continue to increase among the athletes, fitness professionals, and sportsmen, manufacturers in the sports industry are mainly focusing on integrating enhanced technology that helps in boosting performance. Running, basketball, gym, soccer, golf, and ice-hockey are a few sports, and fitness activities continue to inspire the youth population for participating in the sports and fitness activities. Bound to these factors, the global sports footwear market is expected to witness a significant growth in the upcoming years.
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As more people are participating in various sports activities, demand for the sports footwear is likely to rev up globally. Moreover, growing demand for performance enhancing footwear in the sports industry is predicted to boost demand for the sports footwear in the upcoming years. According to a recently compiled report by Fact.MR, the global sports footwear market is projected to reflect a CAGR of 5.5% over the forecast period, 2017-2022.
Modern Trade to Represent a Leading Segment
With increasing demand to remain fit, sales for the gym shoes will continue to rev up globally. The training & gym products as compares to other sports footwear products is expected to witness the highest revenue growth, representing a value of over US$ 6,000 Mn by the end of 2022. However, running sports footwear is expected to register the highest CAGR in the global market throughout 2022.
The men segment as compared to other end users is expected to generate significant revenues, recording a value of over US$ 9,000 Mn by the end of 2017. However, the unisex segment is expected to register a robust CAGR in the global market throughout 2022.
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Sales of sports footwear through the modern trade sales channel is expected to remain high, accounting for a value of over US$ 7,000 Mn by the end of 2022. However, the third party online channel is expected to register the highest CAGR as compared to other sales channel during the forecast period.
Competition Tracking
Leading market players operating in the global sports footwear market include Nike, Inc, Adidas AG, Under Armour, Puma SE, Skechers USA, New Balance, Asics, Brooks, Yonex, and Fila Korea.
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Global Sports Footwear Market: Men Segment in Sports Footwear Market Expected to Generate Significant Revenues Compared to Other End Users, New Report Suggests
According to a recently compiled report, the global sports footwear market is expected to represent a value of over US$ 115,000 Mn by the end of 2022.