The global athletic footwear market comprises of few key players. According to a report by Transparency Market Research, the key players in the market are adopting various strategies to keep the consumers engaged. These strategies include robust distribution channel, iconic brand presence, engaging in luxurious and large retail spaces. These few players monopolize large part of the market. To boost the products sales, the retail agents are promoting impulsive purchasing. The leading vendors in the market are engaging in providing utility, variety, and comfort in their product portfolio in order to keep their consumer engaged and to hold larger share in the market. Some of the key players in the market are Nike, Adidas, Skechers, Reebok, and Puma.
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The global athletic footwear market segment by consumer group is led by men. This gender has been consistently leading the consumer group. The men athletic footwear segment held 55% of the total market share. This trend will be leading the market during the forecast period due to men showing more preference for athletic footwear. Among all regions, Asia Pacific is anticipated to rise as the leading segment in the global athletic footwear market due to the rise in demand from this region. This region is anticipated to hold a significant 41.6% share in the overall market during the forecast period.
Athletic footwear is facing a rise in demand owing to its diverse usage in different conditions. It is used by various consumer types. Moreover, the trend for fitness and health consciousness had led to rise of athletic footwear. The different type of consumers demanding athletic footwear are people who use lenient fitness routine, people who are wearing atheisure as a style, conscious customers, and gym goer. Customized and lightweight athletic footwear is also drawing attention of consumers. These branded footwear companies have large distribution channels across the world so that it can be easily available to the customers. The growing number of physicians preferring athletic footwear to maintain fitness is also a major factor for the rise of global athletic footwear market. E-commerce has made it all the more convenient for customers to buy these athletic footwears. E-commerce is used exhaustively in the developed countries and is emerging in the developing countries. The online distribution strategies has led to rise in demand for the global athletic footwear market.
Lack of Cheap Raw Material to Hamper the Market Growth
The global athletic footwear market is currently being affected due to rise in price of raw material. Manufacturers are struggling to maintain lower product cost and gain profit as well. The production rates are failing to match the growing demand due to rise in price of raw material. Another factor hampering the global athletic footwear market is the reduced percentage of younger consumers. The geriatric demography is affecting the growth of market, especially in U.S. This region is facing downfall of younger consumers.