Athletic footwear encompasses shoes specifically designed for sports and physical activities, offering features that enhance performance, comfort, and durability. The industry includes a variety of products such as running shoes, training shoes, and lifestyle sneakers. A major driver of market growth is the increasing participation in sports and fitness activities, fueled by rising health awareness among consumers.
The athletic footwear market size was valued at USD 132.45 billion in 2023 and is expected to be worth USD 138.72 billion in 2024. The market is projected to reach USD 210.94 billion by 2032, recording a CAGR of 5.38% during the forecast period.
However, the COVID-19 pandemic adversely impacted the growth of the athletic footwear market. Widespread travel restrictions, lockdowns, and social distancing measures resulted in the cancellation or postponement of numerous sporting events and fitness activities. With limited outdoor movement and reduced consumer spending on non-essential goods, the demand for athletic footwear witnessed a significant decline during this period.
Competitive Landscape:
Top Brands Introduce Innovative Products to Expand Consumer Reach
Leading players in the athletic footwear market are actively launching new products equipped with advanced technologies to meet the evolving safety, comfort, and performance needs of consumers. Many manufacturers are integrating smart features such as embedded sensors to provide users with real-time data and insights during workouts or athletic activities, enhancing the overall fitness experience and broadening their appeal to tech-savvy customers.