Cleats Market Analysis

In-depth Analysis of Cleats Market Industry Landscape

Football, a sport that captivates audiences worldwide, is experiencing an escalating surge in popularity across both developed and developing nations. As per the Federation Internationale de Football Association (FIFA), the global governing body for football, a staggering 240 million registered soccer players were recorded globally in 2016. Notably, the youth engagement in football has witnessed a notable upswing in recent times. Data from the Sports & Fitness Industry Association reveals a substantial increase in football participants within the 6–12 age group. Specifically, flag football witnessed a slightly more substantial surge, climbing from 1.142 million in 2017 to 1.245 million in 2018. Rugby, too, is experiencing a surge in player participation. World Rugby, the governing body for rugby union, reported that in 2018, 9.6 million players engaged in the sport globally, marking an estimated 10% increase compared to 2017. Notably, more than 2 million girls and boys took part in rugby in 2018. The rising number of players in soccer and rugby, coupled with the increasing demand for sports accessories, is anticipated to propel the need for cleats. Consequently, the global cleats market is poised for growth, driven by the escalating popularity of these sports. The economic landscape, coupled with the organized retail sector's expansion in the Asia-Pacific region, is contributing significantly to the global cleats market. Disposable income, representing the per capita income of households after deducting income taxes, plays a pivotal role in shaping consumer spending habits. The ascending trajectory of per capita disposable income is a catalyst for heightened consumer buying power and an increased willingness to spend. Asia-Pacific, serving as the epicenter of global growth, presents promising prospects for the cleats market. The robust economic growth and rapidly rising per capita income levels are anticipated to fuel the demand for cleats in the region. Moreover, the burgeoning middle-class population in emerging economies within Asia-Pacific is elevating customer expectations, prompting a strategic recalibration for industrial manufacturers operating in the region. the global cleats market stands at the intersection of the thriving popularity of football and rugby, coupled with the economic vibrancy and organized retail expansion in the Asia-Pacific region. As these dynamics continue to evolve, the demand for cleats is expected to soar, presenting growth opportunities for manufacturers and retailers in the sports footwear industry. The blend of sports enthusiasm and economic empowerment is shaping a vibrant market landscape for cleats globally, with Asia-Pacific emerging as a focal point for sustained growth.