The latest report by IMARC Group, titled “Sneaker Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the sneaker market. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global sneaker market size reached USD 88.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 147.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.76% during 2024-2032.
Sneaker Market Trends:
The global market is primarily driven by the emerging trend of athleisure and casual wear, as consumers seek versatile footwear suitable for both athletic and everyday activities. In accordance with this, the rise of e-commerce platforms, allowing consumers to purchase a diverse range of sneaker styles from the comfort of their homes, is enhancing the market appeal. Similarly, increasing health consciousness and participation in fitness activities are encouraging more individuals to invest in high-quality athletic footwear, thereby propelling the market growth.
Furthermore, continual advancements in technology, including enhanced cushioning and breathability, improving overall performance and comfort is impelling the market. Moreover, the growing influence of social media and sneaker culture, particularly among younger demographics, is further fueling market demand. Likewise, the proliferation of reselling platforms creating a secondary market that adds value to limited-edition releases, is stimulating consumer interest in the market.
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Sneaker Market Scope and Growth Analysis:
The scope of the market is extensive, encompassing a wide variety of segments, including athletic, casual, and fashion-oriented footwear. Key applications span various demographics, from children to adults, catering to different lifestyle needs and preferences. Market analysis indicates that the market scope is poised for substantial expansion, driven by shifting consumer trends towards health, wellness, and fashion. As brands continue to innovate with new materials and designs, the appeal of sneakers as both functional and fashionable footwear is expected to grow.
Additionally, the increasing emphasis on sustainability is propelling the development of eco-friendly options, attracting a broader consumer base. Moreover, the rise of global events, such as sports competitions and expos, is further enhancing brand visibility and engagement. The rapid expansion of sustainable and eco-friendly options is also gaining traction, as environmentally conscious consumers prioritize ethical purchases. Besides this, strategic brand collaborations with designers and celebrities are elevating sneaker appeal and driving consumer interest.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Adidas AG
- ASICS Corporation
- Benetton Group S.r.l.
- Columbia Sportswear Company
- ECCO Sko A/S
- Hanesbrands Inc.
- Kering SA
- New Balance
- Nike Inc.
- Puma SE
- Reebok International Limited (Authentic Brands Group LLC)
- Skechers U.S.A. Inc.
- Under Armour Inc.
- VF Corporation
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Sneaker Market Segmentation:
Our report has categorized the market based on region, product type, category, price point, distribution channel, and end user.
Breakup by Product Type:
- Low-Top Sneakers
- Mid-Top Sneakers
- High-Top Sneakers
According to the report, mid-top sneakers represented the largest segment.
Breakup by Category:
- Branded
- Private Label
According to the report, branded accounted for the largest market share.
Breakup by Price Point:
- Luxury
- Economic
According to the report, luxury represented the largest segment.
Breakup by Distribution Channel:
- Specialty Stores
- Supermarkets and Hypermarkets
- Brand Outlets
- Online Stores
- Others
According to the report, specialty stores accounted for the largest market share.
Breakup by End User:
- Men
- Women
- Kids
According to the report, men represented the largest segment.
Breakup by Region:
- North America (USA, Canada)
- Europe (Germany, France, UK, Italy, Spain, Russia, others)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, others)
- Middle East/Africa
- Latin America (Brazil, Mexico, others)
According to the report, North America accounted for the largest market share.
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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About US:
IMARC Group is globally recognized as a leader in market research, specializing in offering strategic management solutions and extensive market analyses across diverse industries. We collaborate with clients worldwide, focusing on identifying the most lucrative opportunities, addressing critical business challenges, and guiding significant business transformations.
Our detailed reports cover significant market, scientific, economic, and technological developments, serving business leaders in pharmaceutical, industrial, and high technology sectors. With a deep expertise in providing industry forecasts and analyses for sectors including biotechnology, advanced materials, pharmaceuticals, and food and beverage, we equip leaders with the knowledge to navigate complex markets and stay ahead of technological trends.
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