Global Sneakers Market - Industry Trends and Forecast to 2030

Sneakers Market Analysis and Size

The proliferation of e-commerce platforms across the globe acts as one of the major factors driving the growth of the sneakers market. The increase in inclination towards trendy, branded, and high-fashion footwear among every age group, and the surge in disposable income increasing the requirement for more comfortable and innovative footwear accelerate the market growth. On the other hand, the easy availability of copied or fake products that are manufactured by local manufacturers is expected to obstruct market growth.

Data Bridge Market Research analyses that the sneakers market which was USD 75,323.88 million in 2022, is expected to USD 107,118.13 million by 2030, and is expected to undergo a CAGR of 4.50% during the forecast period of 2023 to 2030. “Mid-top sneakers” dominate the type segment of the sneakers market due to an increased awareness of health and fitness has resulted in an increase in demand for mid-top shoes, mainly in developed nations. Mid-top sneakers are in great demand due to new product introductions and improved degrees of comfort provided by shoes. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.

Sneakers Market Scope and Segmentation

Market Definition

Sneakers, also known as athletic shoes, trainers, or tennis shoes, are a type of footwear designed primarily for sports, physical exercise, and casual wear. They are characterized by their comfortable and flexible construction, typically featuring rubber soles with cushioning and support to protect the feet during various activities. Sneakers are known for their lace-up or slip-on design, providing a secure fit.

Global Sneakers Market Dynamics

Drivers

• The Athleisure Fashion Trend

Athleisure fashion combines comfort with style, and sneakers epitomize this trend by offering a comfortable and versatile footwear option. Consumers are increasingly prioritizing comfort in their daily attire, especially as more people work from home or engage in casual activities. The athleisure trend has blurred the lines between traditional dress codes. People are now wearing sneakers not only for sports and workouts but also as part of their everyday attire. This shift has led to higher sneaker adoption rates. Sneakers are highly versatile and can be paired with a wide range of clothing styles, including jeans, leggings, dresses, and more. This versatility makes sneakers an essential wardrobe item, contributing to their popularity.

The athleisure trend's emphasis on comfort, versatility, and a healthy lifestyle has driven the demand for sneakers beyond sports and fitness activities, making them a staple in everyday fashion. This trend has reshaped consumer expectations and preferences, influencing the entire sneakers market.

• Increasing Awareness of the Importance of Regular Physical Activity and Fitness

There is a global shift toward promoting an active and healthy lifestyle. Governments, healthcare organizations, and fitness influencers consistently encourage people to engage in regular physical activity. Sneakers are seen as essential footwear for various activities, including walking, running, jogging, and going to the gym. Running and outdoor sports such as hiking and trail running have gained popularity. Sneakers designed for specific activities, such as running shoes, trail shoes, and hiking boots, cater to the needs of fitness enthusiasts. Many companies now offer wellness programs and encourage their employees to stay active and fit. As a result, sneakers are frequently worn by employees during lunchtime walks or fitness breaks.

Health and fitness awareness has created a cultural shift towards prioritizing physical well-being. Sneakers are integral to this lifestyle, serving as functional and fashionable footwear that supports individuals in their pursuit of a healthier and more active life. This awareness continues to be a driving force behind the sustained demand for sneakers in the global market.

Opportunity

• Growing Interest in Eco-Friendly and Sustainable Products

Consumers are increasingly concerned about environmental issues, such as climate change and plastic pollution. Sustainable sneakers, often made from eco-friendly materials such as recycled plastics, organic cotton, and sustainable leather alternatives, align with these concerns. Brands that prioritize sustainability can attract environmentally conscious consumers. Some sneaker brands are adopting circular economy principles, which involve recycling and repurposing old sneakers to create new ones. This not only reduces waste but also fosters a sense of responsibility among consumers. Brands that embrace circular practices can tap into a growing market.

Sustainable sneakers represent an exciting opportunity for both established and emerging brands in the global sneakers market. As consumers become more environmentally conscious, the demand for sneakers made from sustainable materials and produced through eco-friendly processes is likely to continue growing, making sustainability a key driver of innovation and profitability in the industry.

Restraint/Challenge

• The Sneaker Market Faces Challenges from Counterfeit Products

Counterfeit sneakers often imitate popular and reputable brands, leading to brand dilution. When consumers unknowingly purchase counterfeit products, they may associate poor quality and inferior design with the genuine brand, harming its reputation. Counterfeit sneakers divert revenue away from legitimate brands and retailers. This lost revenue can hinder investments in research and development, innovation, and marketing efforts by authentic brands. The counterfeit sneaker industry is a part of the larger global counterfeit market, which has significant economic consequences. It results in lost tax revenue, negatively impacts legitimate businesses, and hinders economic growth.

To address the issue of counterfeits and minimize their impact on the sneaker market, brands must invest in robust anti-counterfeiting measures, including authentication technologies, legal enforcement, and consumer education. Regulatory bodies and law enforcement agencies also play a crucial role in combating counterfeit sneaker production and distribution. Reducing the prevalence of counterfeit sneakers can help protect consumer safety, brand integrity, and the overall health of the legitimate sneaker market.

This sneakers market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Sneakers market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Developments

• In July 2022, adidas AG and Guccio Gucci S.p.A. intended to launch their much-anticipated footwear line centered on the Gazelle silhouette
• In December 2021, The Nama sneaker was introduced by Chloe SAS. The new shoe represents the company's goal of reducing its environmental effect by making the sneaker with lower-impact materials such as recycled materials and components, which account for 40% of the sneaker's weight
• In January 2022, Converse, Inc. was acquired by NIKE, Inc. under a binding contract. The total value funded for 100 percent of the equity shares was about USD 305 million, including the assumption of certain working capital adjustments at the time of deal completion

Global Sneakers Market Scope

The sneakers market is segmented on the basis of product type, end-user, price point, category and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Low-Top Sneakers
• Mid-Top Sneakers
• High-Top Sneakers

End-User

• Men
• Women
• Kids

Price Point

• Luxury
• Economic

Category

• Private Label
• Branded

Distribution Channel

• Supermarket/Hypermarket
• Specialty Stores
• Brand Outlets
• E-commerce
• Others

Sneakers Market Regional Analysis/Insights

The sneakers market is analyzed and market size insights and trends are provided by product type, end-user, price point, category and distribution channel referenced above

The countries covered in the sneakers market report are U.S., Canada, Mexico, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Chile, Rest of South America, U.A.E., Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa

North America dominates the sneakers market due to the growing health-consciousness and need for physical fitness within the region. Asia-Pacific is expected to witness high growth during the forecast period because of the developing economies in the region.

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends, and Porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Sneakers Market Share Analysis

The sneakers market competitive landscape provides details by competitors. details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the company's focus related to the sneakers market.

Some of the major players operating in the sneakers market are:

• PUMA SE (Germany)
• SKECHERS (U.S.)
• Nike, Inc (U.S.)
• JACK WOLFSKIN (Germany)
• Woodland Worldwide (India)
• The Aldo Group Inc. (Canada)
• Under Armour, Inc. (U.S.)
• Bata Corporation (Switzerland)
• adidas AG (Germany)
• New Balance (U.S.)
• ASICS Asia Pte. Ltd. (Japan)
• Columbia Sportswear Company (U.S.)
• ECCO Sko A/S (Denmark)
• Geox S.p.a (Italy)
• Hermès (France)
• KERING (France)
• TBL Licensing LLC (U.S.)
• Tapestry, Inc. (U.S.)
• LVMH Moët Hennessy (France)

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