Sports Footwear Market Size to Hit USD 77.52 Billion by 2027; Presence of Several Large Scale Companies will Emerge in Favor of Market Growth, says Fortune Business Insights™
Top Key Players covered are Nike Inc. (Beaverton, U.S.), Adidas Group (Herzogenaurach, Germany), MIZUNO Corporation (Chiyoda City, Japan), Puma SE (Herzogenaurach, Germany), Under Armour, Inc. (Baltimore, U.S.), Sketchers, USA Inc. (Manhattan Beach, U.S.), Fila Holdings Corp (Seoul, South Korea), Converse (Boston, U.S.), Diadora S.p.A. (Caerano di San Marco, Italy), ASICS Corp. (Chuo City, Japan), and more companies profiled in sports footwear market research report
Pune, Sept. 11, 2020 (GLOBE NEWSWIRE) -- The global sports footwear market size is projected to reach USD 77.52 billion by the end of 2027. The increasing investments in the research and development of low cost and efficient products will bode well for market growth. The increasing number of sporting events across the globe will have a huge impact on market growth. According to a report published by Fortune Business Insights, titled “*Sports Footwear Market Size, Share & COVID-19 Impact Analysis, By Gender (Men, Women, and Kids), End-User (Professional Users and Recreational Users), Distribution Channel (Online and Offline), and Regional Forecasts, 2020 - 2027*,” the market was worth USD 102.76 billion in 2019 and will exhibit a CAGR of 4.1% during the forecast period, 2020-2027.
Sports footwear have evolved tremendously over the past few decades. With more experimental studies and innovations, there have been major advances in the build and quality of sports footwear across the world. The rising demand for the product has been pivotal to the growth of the market in recent years. The increasing demand has resulted in the presence of numerous local brands as well as globally operating companies.
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The massive investments in manufacturing as well as the marketing of sports footwear will create a huge platform for rapid market growth. The constantly rising demand makes it easier for smaller companies and this is a major reason why there are numerous start-ups as well as small scale brands across the world. The increasing market competition will bode well for the growth of the global sports footwear market in the foreseeable future.
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*Ban on Sporting Events during the Covid-19 Pandemic to have a Negative Impact on Market Growth*
The recent coronavirus outbreak has had a negative impact on all major industries, barring a few healthcare sectors. The rapid spread of the disease has compelled governments across the world to implement strict measures to curb the negative effects. These measures have limited business operations and with social distancing practices in place across all major countries, it has become increasingly difficult to operate seamlessly. Accounting to increasing Covid-19 cases, sporting events have been shut down in the past few months. With strict shutdowns on global sporting events, the demand for sports footwear has gone down drastically in the past few months. Having said that, the efforts put in lift the bans will provide opportunities for companies to recover.
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*Increasing Number of Product Innovations and Variants will Emerge in Favor of Market Growth*
The report encompasses several factors that have contributed to the growth of the market in recent years. It is observed that the global market has shaped up as a highly competitive space, with several large scale companies operating in numerous countries across the globe. With increasing demand for the product, these companies are coming up with newer strategies, with innovations and product variants among the leading marketing strategies.
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*Browse Detailed Overview of This Research with Table of Content:*
https://www.fortunebusinessinsights.com/sports-footwear-market-102216
In July 2020, FILA announced the launch of a new range of sports footwear, making it available for sale on the company’s website with retail store limitations in the ongoing pandemic. The company introduced GH3ONE3 collection of sports shoes as well as a few other limited edition variants. The efforts taken to lift lockdowns across the world have certainly encouraged the company and such new variants are likely to accumulate in the coming years.
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*List of the Leading Companies Profiled in the Global **Sports Footwear Market **are:*
· Nike Inc. (Beaverton, U.S.)
· Adidas Group (Herzogenaurach, Germany)
· MIZUNO Corporation (Chiyoda City, Japan)
· Puma SE (Herzogenaurach, Germany)
· Under Armour, Inc. (Baltimore, U.S.)
· Sketchers, USA Inc. (Manhattan Beach, U.S.)
· Fila Holdings Corp (Seoul, South Korea)
· Converse (Boston, U.S.)
· Diadora S.p.A. (Caerano di San Marco, Italy)
· ASICS Corp. (Chuo City, Japan)
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*Key Industry Developments:*
*February 2019 *- Xiaomi announced the launch of a new sports footwear range, ‘Mi Men’s Sports Shoes 2,’ in the Indian market.
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*Detailed Table of Content:*
· *Introduction*
· Research Scope
· Market Segmentation
· Research Methodology
· Definitions and Assumptions
· *Executive Summary*
· *Market Dynamics*
· Market Drivers
· Market Restraints
· Market Opportunities
· Emerging Trends
· *Key Insights*
· Overview of the Parent/Related Markets
· Sports Footwears Consumption Trend
· Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
· Qualitative Analysis (In Relation to COVID-19)
· Impact of COVID-19
· Supply Chain Challenges
· Potential Opportunities due to COVID-19
· *Global Sports Footwear Market Analysis, Insights and Forecast, 2016-2027*
· *Key Findings / Summary*
· *Market Size Estimates and Forecast *
· *By End-User (Value) *
· Professional Users
· Recreational Users
· *By Gender (Value)*
· Men
· Women
· Kids
· *By Distribution Channel (Value)*
· Online
· Offline
· *By Region (Value)*
· North America
· Europe
· Asia Pacific
· South America
· Middle East & Africa
*TOC Continued…!*
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