According to IMARC Group latest report titled “Sneaker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on sneaker market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
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 Overview:
A sneaker, also known as a sports shoe or athletic shoe, is a type of footwear designed primarily for sports or other forms of physical exercise. It typically features a flexible sole made of rubber or synthetic material and an upper part made of leather, synthetic substitutes, or cloth. Sneakers are manufactured through a process that involves cutting, stitching, molding, and assembly. Sneakers play a crucial role in providing support, cushioning, and stability during physical activities, thereby reducing the risk of injuries. Additionally, they offer benefits such as improved traction, breathability, and shock absorption, enhancing overall performance and comfort for the wearer. Beyond sports, sneakers have become a staple in casual and fashion footwear, valued for their versatility and contemporary aesthetic.
Sneaker Market Trends:
The global market is primarily driven by the increasing focus on health and fitness has spurred demand for athletic footwear, with consumers seeking comfortable and supportive shoes for various activities. Additionally, the rise of athleisure fashion has made sneakers a staple in casual wear, driving sales across demographics is expanding the market growth. Moreover, the growing influence of social media and celebrity endorsements has fueled consumer desire for trendy and exclusive sneaker releases, leading to heightened competition among brands is impelling market growth.
Furthermore, continual innovations in materials, design, and technology, such as sustainable manufacturing practices and performance-enhancing features, are reshaping the market landscape is bolstering market growth. In line with this, strategic collaborations between sneaker brands and fashion designers, artists, and celebrities have become increasingly common, driving excitement and generating buzz within the industry is fueling market demand.
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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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