Sneakers Market By Category (Adult, Children), By Type (Low Cut, High Ankle, Mid Cut, Slip On, Others), By Distribution Channel (Brand Outlets, E-Commerce Industry, Supermarkets And Hypermarkets, Other) - Growth, Future Prospects, And Competitive Landscape, 2019 - 2027

The global sneakers market is projected to witness significant growth, growing at a CAGR of 6.8% during the forecast period from 2019 to 2027. Sneakers are divided into different categories, mainly athletic shoes, gym shoes, and many more. Sneakers were originally designed for various sports activities, but they are now worn on a daily basis. Manufacturers are focusing on sustainable resources for manufacturing these shoes. For instance, according to the annual report of Puma S.E., Puma is going to source 90% of its cotton and polyester from sustainable sources. In addition, in March 2019, Adidas produced more than five million pairs of shoes from recycled plastic from oceans and plans to increase production to 11 million in the near future.

The increase in IoT technology and the e-commerce trend are two of the key factors driving the growth of the market. For instance, in 2018, according to the statistics provided by Adidas, e-commerce was the fastest-growing sales channel globally. Demand for sneakers is continuously increasing, as consumers nowadays are inclining towards a sporty lifestyle and turning sportswear into everyday wear. Furthermore, sports and physical activities such as yoga, gym, and many other activities are driving global sneakers sales among the young population. Companies are producing sneakers for specific purposes; for instance, on April 4, 2019, Nike, Inc. launched its new gym red edition for women, specially designed for working out in gyms. The Air Max 720 is textured in white, has a plastic midsole clip, and has the same sporty outsole as the Air Max 720.

Market Snapshot

The adult sneaker market will grow significantly at a healthier CAGR.

In 2018, the adult sneakers segment held the largest share of the global sneakers market. The dominance of this segment is supported by many reasons, like the fact that consumers have become more comfort-oriented and are now ready to invest more in footwear that offers extra comfort. For instance, in June 2019, Nike released a new shoe collection that includes the brand's softest and most flexible shoes. The Nike Air Max 270 React is manufactured with bar track technology, and no-sew materials are used for the manufacturing of these shoes. Moreover, the trend for sneakers among women is also rising, and companies are focusing on providing sneakers for their female customers. For instance, Nike has launched a digital program for women. Nike Unlaced is a platform where women can choose footwear with new styles and collaborations. Nike Unlaced is updated weekly with new brands and innovative shoes, allowing women to wear the same types of sneakers as men. This is one of the key reasons driving the growth of the adult sneaker market.

In 2018, North America held the largest market share.

In 2018, North America dominated the sneaker market and was likely to continue its dominance during the forecast period from 2019 to 2027. The U.S. holds the majority of the market share in the overall North American market. People in the U.S. prefer quality products and are willing to pay high prices for branded products. Moreover, factors such as rising e-commerce and product innovation are also increasing the demand for sneakers. In contrast, Asia Pacific is the fastest-growing region of the sneaker market. The market growth is associated with the inclination of people towards branded products and fitness, thus propelling the demand for sneakers in the Asia Pacific region. For instance, in November 2018, Adidas opened its largest brand center in the Asia Pacific region in Shanghai, China. The brand center displays all the innovations and recent retail concepts related to new styles. Adidas further has plans to expand its reach in the Asia Pacific region due to an increase in the overall demand for sneakers in countries such as India, Japan, Indonesia, South Korea, and others.

Competitive Insights

The major players identified in the sneaker market include Puma S.E., Adidas AG, Nike, Inc., Under Armour, Inc., ASICS, New Balance Athletics, Inc., Mizuno Corporation, Li Ning Company, ECCO Sko A/S, K-Swiss, Inc., Skechers USA, Inc., Anta Sports Products Limited, 361 Degrees International Limited, Xstep International Holdings Limited, Peak Sportswear Ltd., and lotto Sport Italia, among others. Technological advancement and new product development remain some of the major strategies implemented by the major players in the sneaker market. For instance, in September 2018, Puma S.E. launched its latest product, named Hybrid. Hybrid has two variants: hybrid runner and hybrid rocket. Hybrid includes beads, which provide extra cushion while running.

Periods of History and Forecast

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The Sneakers market report provides market size and estimates based on market dynamics and key industry trends. The report provides a holistic view of the global sneaker market based on category, type, material, distribution channel, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

  • What was the size of the sneakers market in 2018, and what are the projections for 2027?
  • What are the key factors driving the global sneaker market?
  • What are the key market trends and high-growth opportunities observed in the sneaker market?
  • What are the drivers of the sneaker market?
  • Which is the largest regional market for sneakers?
  • Which segment will grow at a faster pace? Why?
  • Which region will drive the market's growth? Why?
  • Which players are leading the sneaker market?
  • What are the sustainability strategies adopted by the key players operating in the market?

Frequently Asked Question:

The market for Sneakers Market is expected to reach USD$ XX Bn billion in 2027.

The Sneakers Market is expected to see significant CAGR growth over the coming years, at 6.8%.

The report is forecasted from 2019 -2027.

The base year of this report is 2018.

Puma S.E., Adidas AG, Nike, Inc., Under Armour, Inc., ASICS, New Balance Athletics, Inc., Mizuno Corporation, Li Ning Company, ECCO Sko A/S, K-Swiss, Inc., Skechers USA, Inc. are some of the major players in the global market.

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Published Date:  Oct 2019
Category:  Consumer Goods
Report ID:   59991
Report Format:   PDF
Pages:   120
Rating:    4.3 (56)
Delivery Time: 24 Hours to 48 Hours   
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