Men’s footwear have consistently been the leading segment in the global athletic footwear market over the past few years when it comes to gender and age demographics. This trend is expected to continue for the time being, with men’s footwear taking up close to 55% of the market in terms of value till 2018. Women’s athletic footwear are expected to form 30% of the global athletic footwear market value for the same period, while kids’ footwear remains the minority share. The total population of men and women demanding athletic footwear is increasing rapidly, with both genders showing different preferences. Men prefer athletic footwear with greater quality, durability, and comfort, while women are leaning towards style and comfort.
The factor of comfort is an integral part of the global athletic footwear market and the growing demand for greater comfort is currently the leading driver for the market over the coming years. In fact, the general consumer base for footwear is steadily towards more athletic footwear and is showing a strong appeal for comfort wear. Another key driver working in favor of the global athletic footwear market is the globally increasing awareness of needing more exercise and outdoor activities. The current hectic lifestyles of the middle class is putting more focus on finding ways to work out and relieve stress, and the high comfort factor athletic footwear fall right in place for a consumer pool that is showing an increasing rate of disposable income.
However, the global athletic footwear market is currently being hampered by the rising costs of raw materials. As production rates strive to match the growing demand, manufacturers are finding it difficult to maintain a lower product cost while gaining profits. Another factor adversely affecting the global athletic footwear market is the growing geriatric demographic, or rather, the reduction in percentage of the younger consumer population. This effect is especially prevalent in developed economies such as the U.S., where there is a slow fall in demand as compared to the overall population due to the lesser percentage of younger consumers. By the end of 2018, the global athletic footwear market is expected to reach US$84.42 bn.
APAC Dominance in Global Athletic Footwear Market to Continue
The sheer volume of demand arising from Asia Pacific in the global athletic footwear market owing to its densely populated urban locations is putting this region at the top of the charts. This region will continue to lead the global athletic footwear market over the coming years due to the increasing amount of disposable income available among individuals, and a growing interest in manufacture shown by globally prominent players into countries such as China and India. By 2018, Asia Pacific was expected to hold a whopping 41.6% of the overall demand in the global athletic footwear market.