Global Sports shoes Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Sports shoes market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Sports shoes Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Sports shoes Market forecast.
The Sports shoes Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
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The global sports shoes market size is estimated to reach USD 25.3 billion, by 2025, and is projected to grow at a CAGR of 4.2% from 2019 to 2025. The increase in number of sports events across the world is expected to increase the demand for the product in the next few years.
The men’s shoes category led the market, in 2018 and is projected to maintain its dominance in the next fewyears. The growing popularity of American football and other outdoor games is also contributing to the market growth. The sports engagement initiatives taken by the various sports clubs is expected to boost the demand for sports shoes. For example, the NFL had organized game events in the Wembley Stadium, London to create awareness among consumers and also to spread the game of the football.
Offline channels contributed to a market share of over 80.0%, in 2018. The growing penetration of sports retail outlets is boosting the market growth. For instance, New Balance Inc., has opened its outlets in the middle east region.
Moreover, the growing awareness about sports and government initiatives is supporting the manufacturers to increase their presence across the globe. For example, the Khelo India initiative by the Indian government is helping to revive sports activities in the country. These initiatives are projected to impact positively on the market growth.
Asia Pacific region is expected to grow at the highest CAGR of 5.2% from 2019 to 2025. The growing participation in sports activities from countries like China and India is fostering the product demand. In addition, increasing health awareness along with purchasing power of consumer is spurring the market growth. Central and South America region is also projected to grow significantly in the forecasted period.
Some of the major players in the sports shoes market are Adidas Group, Nike, Inc., MIZUNO Corporation, Puma SE, ASICS, Under Armour, and Fila Inc.
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