DUBLIN, DUBLIN -- (SBWire) -- 03/02/2021 --Sneakers Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The enhancing lifestyle of people and growing disposable income, which surged the need for more comfortable and innovative footwear, are the key driver surging the growth of the global sneakers market size. Moreover, the drastic shift towards branded, trendy, and high-fashion footwear among each age group and the easy availability of customized and innovative features in the footwear will open doors for the growth of the sneakers market share in terms of revenue. Furthermore, the increasing population, followed by the growing issues associated with health and wellness, is promoting individuals to indulge in various fitness activities, and fundamental change of the young population towards fitness and sports are certain factors expected to fuel the demand of the market.
According to the sneakers market analysis, the increasing e-commerce platforms, significantly shifting preference towards custom designs, and emerging fashion trends will further propel the growth of the sneakers market globally. The emergence of 3D printing on sneakers, rising penetration of the internet, and smartphones have to lead to the shift in the preference towards the online medium as it allows the users to select products as per their specific requirement, which will stimulate the market growth. On the other hand, the availability of copied or fake products that are produced by local manufactures. The outbreak of the COVID-19 pandemic has negatively influenced the growth of the sneakers market due to the temporary shutdown of factories, and the slow release of the new collection has hindered the supply chain of raw material. However, the market is projected to bounce back in 2021 while increasing at a higher rate from 2022.
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Sneakers Market's leading Manufacturers:
- Adidas Group
- Nike Inc.
- New Balance
- ASICS
- PUMA SE
- Under Armour, Inc.
- Li Ning Company Ltd.
- ECCO
- China Dongxiang (Group) Co., Ltd.
- 361 Degrees International Limited
Type Segment Drivers
On the basis of type, adult sneakers is projected to grow at a higher CAGR in the coming years due to the rising adoption of sneakers among the adult population driven by the increasing awareness regarding fashion among this population. Additionally, the growing issues for health among adults are fundamentally shifting towards fitness activities, and the rising disposable income will boost the demand of the market.
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Sneakers Market Segmentation:
Segmentation by Type:
- Children Sneakers
- Adult Sneakers
Segmentation by Distribution Channel:
- Store-Based Retail
- Non-Store Based Retail
Segmentation by Region:
- North America
o United States of America
o Canada
- Asia Pacific
o China
o Japan
o India
o Rest of APAC
- Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
- RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
Our Other Relevant Reports:
1. Footwear Market
2. Smart Shoes Market
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Sneakers Market Share, Size, Growth Opportunities, Trends Analysis & Industry Forecast Report, 2020-2027
Global Sneakers Market reveals that the market is slated to register a higher CAGR over the forecast period. This is mainly attributed to the increasing e-commerce platforms, significantly shifting preference towards custom designs and emerging fashion trends.