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 growth. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global sneaker market size reached US$ 88.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 147.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.76% during 2024-2032.
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Sneaker Market Trends:
The global sneaker market is experiencing significant growth, driven by the increasing consumer preference for comfortable and stylish footwear, as sneakers offer versatility and adaptability for various occasions. Along with this, the rising trend of athleisure, which combines athletic and leisure wear, is further boosting the demand for sneakers as everyday fashion items. Additionally, the growing awareness of health and fitness is propelling the adoption of sneakers for sports and recreational activities.
The expanding influence of celebrity endorsements and social media marketing is also playing a crucial role in shaping consumer preferences and driving market demand. Furthermore, the development of innovative materials and technologies, such as lightweight and breathable fabrics, is enhancing the performance and appeal of sneakers. The growing popularity of limited edition and designer collaborations is creating a sense of exclusivity and urgency among consumers, contributing to the market's positive outlook.
Sneaker Market Scope and Growth Analysis:
The market scope encompasses a diverse range of products and consumer segments, reflecting its broad appeal and versatility. This market includes performance sneakers designed for specific sports, lifestyle sneakers for everyday wear, and luxury sneakers that cater to fashion-forward consumers. The market growth analysis indicates a robust upward trajectory, supported by continuous advancements in sneaker design and manufacturing technologies. In addition, the increasing investment in research and development by major industry players is leading to the introduction of innovative and sustainable materials, catering to the evolving preferences of environmentally conscious consumers.
The expanding adoption of sneakers in emerging economies, driven by rising disposable incomes and changing fashion trends, presents significant growth opportunities. Concurrently, strategic partnerships and collaborations between sneaker brands and retailers are facilitating market expansion and enhancing product accessibility. Moreover, the growing popularity of online retail platforms and the integration of augmented reality for virtual try-ons are driving the market's growth in the coming years.
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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
Sneaker Market Segmentation:
Our report has categorized the market based on product type, category, price point, distribution channel, and end user.
Breakup by Product Type:
- Low-Top Sneakers
- Mid-Top Sneakers
- High-Top Sneakers
Breakup by Category:
- Branded
- Private Label
Breakup by Price Point:
- Luxury
- Economic
Breakup by Distribution Channel:
- Specialty Stores
- Supermarkets and Hypermarkets
- Brand Outlets
- Online Stores
- Others
Breakup by End User:
- Men
- Women
- Kids
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)
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
About US:
IMARC Group is a leading market research firm that provides management strategy and market research worldwide. We work with clients in every sector and geography to identify their most valuable opportunities, address their most important challenges and transform their businesses.
The IMARC Group's information offerings include key market trends, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high technology sectors. Market forecasts and industry analysis in biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and innovative processing methods are among the company's top areas of expertise.
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