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 market is primarily driven by the growing emphasis on health and fitness lifestyles has propelled the demand for sneakers as consumers seek comfortable and supportive footwear for exercise and daily activities. Additionally, the rising trend of athleisure wear, where athletic apparel is worn for both exercise and casual occasions, has further boosted sneaker sales.
Moreover, strategic collaborations between sneaker brands and celebrities or fashion designers have created exclusive and highly sought-after limited-edition releases, driving consumer excitement increasing brand visibility are driving the market growth. Furthermore, continual advancements in sneaker technology, such as innovative cushioning systems and lightweight materials, continue to attract consumers looking for enhanced performance and comfort which further contributes to market expansion.
Sneaker Market Scope and Growth Analysis:
The scope of the market is extending beyond traditional demographics to encompass diverse consumer segments worldwide. The market's growth trajectory is fueled by the burgeoning popularity of sneaker culture, which has evolved into a global phenomenon driven by social media, influencers, and sneaker-centric events. Furthermore, the advent of online retail platforms and digital marketing strategies has significantly widened the reach of sneaker brands, enabling them to engage with consumers across geographical boundaries and penetrate emerging markets.
Moreover, the customization trend has gained traction, allowing consumers to personalize their sneakers according to their preferences, thereby enhancing brand loyalty and driving repeat purchases. Additionally, the integration of augmented reality (AR) and virtual reality (VR) technologies into the retail experience has transformed how consumers interact with and purchase sneakers, further stimulating market growth. As sneaker brands continue to innovate and diversify their product offerings, leveraging collaborations, limited-edition releases, and experiential marketing initiatives, the global sneaker market is poised for sustained expansion and remains a lucrative avenue for investment and business development.
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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 (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
- Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
- Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, 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 company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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