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 analysis . 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 increasing health awareness among consumers worldwide is increasing the demand for athletic footwear, as more people engage in sports and fitness activities. Additionally, the rising integration of fashion and functionality in sneakers attracts not only athletes but also fashion enthusiasts, driving up sales in various demographics. Moreover, the advent of customization and personalization options allows consumers to design their sneakers to reflect personal style and preferences, further stimulating market growth. Furthermore, the push towards sustainability, with brands increasingly focusing on eco-friendly materials and production processes in response to consumer demand for environmentally responsible products is creating a positive market outlook. In line with this, the digital transformation in retail is amplifying the market’s expansion, as e-commerce platforms provide extensive reach and accessibility, making it easier for brands to connect with a global audience and capitalize on direct-to-consumer trends.
Sneaker Market Scope and Growth Analysis :
The scope of the market is expansive, encompassing various segments including athletic and casual wear, each catering to different consumer needs and preferences. The market’s growth is analyzed through its penetration across diverse age groups and socio-economic segments, indicating a wide-ranging consumer base from young adults to older generations who utilize sneakers for both fashion and functionality. Technological advancements in sneaker production, such as the use of 3D printing and AI-based design systems, are revolutionizing manufacturing processes, enabling faster production times and higher customization, which are key to meeting rapidly changing consumer demands.
The global market’s expansion is also influenced by strategic collaborations between leading sneaker brands and high-profile celebrities or sports personalities, which harness their influence to enhance brand visibility and consumer engagement. Furthermore, the increasing number of initiatives promoting sports and outdoor activities by governments worldwide supports the growth of this market, as public participation in these activities directly correlates with higher sneaker consumption. Thus, the sneaker market is poised for continued growth, driven by innovative production technologies, strategic brand partnerships, and supportive health and wellness trends globally.
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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 Srl
- Columbia Sportswear Company
- HERE IS Sko A/S
- Hanesbrands Inc.
- Kering SA
- New Balance
- Nike Inc.
- Puma SE
- Reebok International Limited (Authentic Brands Group LLC)
- Skechers USA Inc.
- Under Armor Inc.
- VF Corporation
Sneaker Market Segmentation:
Our report has categorized the market based on region, 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
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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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