Athletic footwear refers to the footwear worn generally in workout session and sports activities. It has become common to regular gym-goers and other non-athletes too. Moreover, these footwears are originated from various materials including wood, canvas, leather, jute, plastics and rubber. Globalization is one of the major factors which contributing towards the growth of the market. Lucrative hand made as well as machine-made footwear are preferred by consumers in this market. Furthermore, urbanization as well as industrialization including such as India, Bangladesh, China and Indonesia are contributing towards the growth in wide range of products.
Unique design of athletic footwear is in demand which likely to boost the Athletic footwear market. In addition, the major players in this market are PUMA, Nike Inc., Adidas AG, Belle International Holdings Limited, ASICS, VF Corporation, Wolverine Worldwide, Inc., GEOX S.p.A, Bata Brands and Woodland Worldwide.
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Due to COVID-19 pandemic consumers are more conscious about their health as they involved in activities, such as running and walking which will help them to manage health. This increased participation has led to a change in market dynamics, leading to an increased demand for athletic footwear. In addition, increasing urge to maintain health among consumers is also linked with fascination for premium and customized footwear.
The COVID-19 pandemic has had a strong impact on the athletic footwear market. However, with the presence of online shopping as well as doorstep delivery athletic footwear market witnessed a pace in demand over the mid-months of 2020. In addition, barriers to movements of goods have forced the market to depend on domestic production and local manufacturing. Also, many consumers joined the fitness activities after the lockdown measures were lifted in many of the countries. Owing to this, the demand for athletic footwear surged, keeping the market afloat during the year-long pandemic period. It is also seen that branded footwear have gathered more fan base on social media websites, but the impact of counterfeit products still prevailed largely, as consumers seek low price, better design, and suitable durability from such footwear.
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Active participation of kids in recreational and sporting activities such as football, cricket, basketball, running, boxing, and yoga are one of the major trends in this market. Considering this fact, manufacturers have introduced wide range of footwear products with vibrant color which is highly lucrative among kids. The rising crossover between sports and fashion which led to an increased presence of fashionable athletic footwear which is expected to further fuel the interest of consumer. Moreover, it has been seen that the demand for fashionable athletic footwear is on the rise as they are versatile, convenient, trendy, and can be worn for a variety of occasions. This increased emphasis on style has been capitalized by key players in this market and bring various opportunities to introduce more innovative, technically advanced products. Also considering both comfortable and feasibility in accordance with consumer preferences demand of the product is likely to increase.
Secondary Research Associate
Consumer Good Domain
Allied Market Research