Portland, OR — (SBWIRE) — 10/03/2017 — A report published by Allied Market Research, titled, “Athletic Footwear Market” forecasts that the industry is expected to garner $114.8 billion by 2022, and grow at a CAGR of 2.1% during the period, 2016–2022, across the globe. The Asia-Pacific region accounted for the highest revenue followed by Europe in 2015.
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The study segments the Athletic Footwear Market by type, user, and geography. Based on type, it includes sports shoes, hiking & backpacking shoes, running & walking shoes, and aerobic & gym wear shoes. It categorizes users into men, women, and kids. Geographically, the industry is spread over North America, Europe, Asia-Pacific, and Latin America, Middle East, & Africa. According to it, the running & walking shoes accounted for the maximum market share of 40.7% due to their widespread adoption as daily wear shoes by consumers, worldwide in 2015.
The North America region exhibited the highest penetration of aerobic and gym wear shoes owing to consumer’s involvement in gym and dance classes in countries, such as U.S. and Canada in 2015. Within the sport shoes category, soccer accounted for the momentous market share of 28.5% due to growing popularity of the sport across the globe in 2015.
The Asia-Pacific (APAC) region would lead the market followed by Europe throughout the analysis period, 2016–2022. The Athletic Footwear Market in the aforementioned region is expected to witness the highest growth driven by the increase in disposable income, rise in health awareness, and growth in demand for fashion footwear.
Key Findings of Athletic Footwear Market:
* The Men segment is the highest revenue-generating segment followed by the women segment in the global athletic footwear market.
* Tennis shoes are expected to be the fastest moving shoes segment followed by soccer shoes within the sport shoes market.
Product launches, joint ventures, partnerships, and acquisitions & mergers have been the key growth strategies used by existing market players to increase their business and market share in the athletic foot wear industry. The key companies profiled in the report include Asics Corporation, Adidas AG & Puma SE, VF Corporation, Nike, Inc., FILA, Inc., New Balance, Inc., Skechers Inc., K-Swiss, and Wolverine World Wide, Inc.
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