Global sneakers market stood at more than USD60 billion in 2019 and is projected to grow at a CAGR of over 7% during 2021-2026, on account of increasing participation of the young population in sports and fitness activities and growing consumer inclination towards branded and high-fashion footwear. Sneakers are shoes primarily designed for sports or other forms of physical exercise. However, they are being used for everyday wear.
Different
In terms of type, global sneakers market has been categorized into adult sneakers and children sneakers. The adult sneakers segment dominated the market in 2020 and is expected to maintain its market dominance in the coming years as well, on account of growing fashion consciousness among adults. Moreover, increasing participation of the young population in sports and fitness activities is anticipated to further aid the adult sneakers segment, globally.
North America accounted for the largest share in global sneakers market in 2020, owing to growing health-consciousness and need for physical fitness. Among the North American countries, the sneakers market was the largest in the US. With changing lifestyle, consumers in the US prefer comfort over price, as a result, demand for sneakers is increasing across the country. Additionally, easy availability of innovative and customized sneakers is boosting the region’s sneakers market. Various new companies in the North American sneakers market have gained importance in the last few years. Skechers USA, for instance, became the second largest athletic footwear company in 2016. The low price of Skechers’ products has been the key factor for the company’s growth in the US market.
Some of the leading players in global sneakers market are
Years considered for this report
Historical Years2016-2019
Base Year2020
Estimated Year2021
Forecast Period2022-2026
Objective of the Study
- To analyze and forecast global sneakers market size.
- To classify and forecast global sneakers market based on type, distribution channel and regional distribution.
- To identify drivers and challenges for global sneakers market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global sneakers market.
- To conduct the pricing analysis for global sneakers market.
- To identify and analyze the profile of leading players operating in global sneakers market.
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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the globe.
TechSci Research calculated global
Key Target Audience
- Sneaker manufacturers, suppliers, distributors and other stakeholders
- Sneaker raw material suppliers
- Potential investors
- Organizations, forums and alliances related to sneakers market
- Research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
