Sneakers Market Analysis

Global Sneakers Market Overview

Sneakers Market Distribution Channel was valued at USD 78.9 Billion in 2023. The Sneakers Industry is projected to grow from USD 84.9 Billion in 2024 to USD 152.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.60% during the forecast period (2024 - 2032). Globally expanding internet marketplaces with a rising preference for stylish, branded, and high-fashion trainers, are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Sneakers Market Trends

• The growth of online platforms across the globe is driving the market growth

One of the key drivers fueling the industry's expansion is the global spread of internet platforms. All age groups' increasing preference for high-fashion, branded trainers and an increase in disposable income are driving the demand for more comfortable and inventive trainers, which is accelerating industry growth. The expansion, however, is anticipated to be hampered by the accessibility of locally manufactured products that are duplicated or counterfeit. Sneakers with easily customizable and cutting-edge features give market participants more lucrative opportunities. The market is being driven by people engaging in various fitness-related activities as a result of the growing population and rising health and wellbeing concerns. Additionally, there is a rise in product demand due to the youthful population's increased interest in sports and fitness.

The amount of trainers consumed globally demonstrates a trend among people of all ages to wear trainers as both casual and stylish footwear. To suit the preferences and budgets of various customers, the market offers a variety of footwear that varies in colour, style, and cost. The adoption of appealing marketing and promotional strategies, the expansion of sales through online channels, and the introduction of unique items all contributed to the growth of the sneaker market. Due to the fierce rivalry in the market, participants are paying more in brand development and marketing strategies. This increases awareness of their existence and helps to increase the value of their brand so they can attract more clients. The world's leading shoe companies are aggressively rivalled by a significant number of small producers.

E-commerce, which is solely defined as the buying and selling of products and services using online platforms, is in very high demand worldwide. The most well-known form of e-commerce is online shopping. It has streamlined consumers' purchase processes by making it easier and more convenient. Developed countries like the United States and Japan are more well-liked for internet shopping than developing countries like China and India. The retail landscape was different ten years ago than it is now. Sneakers have a huge market possibility because of the rise of e-commerce, which makes purchasing simpler, easier, and more convenient. Thus, driving the Sneakers market revenue.

Sneakers Market Segment Insights

Sneakers Product Type Insights

The Sneakers Market segmentation, based on Product Type, includes low-top sneakers, mid-top sneakers, and high-top sneakers. Mid-top sneakers segment dominated the global market in 2022. Demand for mid-top trainers has increased as people's awareness of health and fitness has grown, especially in emerging markets. Mid-top trainers, which were once created for sports like basketball and tennis, are now a popular option for skaters. Over the forecast period, there is a good chance that new product introductions and the high degree of comfort offered by mid-top trainers will increase demand.

Sneakers End User Insights

The Sneakers Market segmentation, based on End User, includes men, women, and kids. Men segment dominated the global market in 2022. Throughout the forecast period, the segment is anticipated to remain prominent. Men are adopting the newest fashion trends at a high rate thanks to social media's growing influence. These elements played a part in the substantial demand for men's trainers. The category is growing favourably as a result of the existence of male influencers who discuss individual styles and emphasise the importance of dressing beautifully for self-expression.

Sneakers Distribution Channel Insights

The Sneakers Market segmentation, based on Distribution Channel, includes department store, specialty stores, online, and others. Online segment dominated the Sneakers Market in 2022. Consumers choose to buy things online due to rising internet usage and advantages like convenient access and payment alternatives. Any trainer sold online has a different selling price from what it would normally cost. This is typically brought on by deals and discounts that may be found on business websites or any other internet resource. Additionally, testimonials and opinions on specific products assist shoppers in making wise decisions.

Figure 1: Sneakers Market, by Distribution Channel, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Sneakers Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Sneakers Market dominated this market in 2022 (45.80%). This is due to clients' shifting lifestyles, rising fashion consciousness, and high disposable wealth, which is encouraging them to prioritise comfort over price. The main country in the region where there is an increasing demand for trainers is the United States. Although trainers have long been associated with American culture, they are now widely worn around the world. A lot of people want trainers, especially the younger age. In terms of revenue share, the Asia Pacific region led in 2021. Further, the U.S. Sneakers market held the largest market share, and the Canada Sneakers market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: SNEAKERS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Sneakers market accounted for the healthy market share in 2022. The number of individuals utilising fitness centres and taking part in both indoor and outdoor exercise activities has increased as a result of the present global growth in health awareness. As a result, demand for trainers has grown throughout all age groups. In addition, those who work select physical activities like running and swimming to stay fit and active. As a result, the demand for shoes has expanded across all age groups, expanding the footwear market in Europe. Further, the German Sneakers market held the largest market share, and the U.K Sneakers market was the fastest growing market in the European region

The Asia Pacific Sneakers market is expected to register significant growth from 2023 to 2032. Major shares of the regional market were held by China, Japan, and India. Market growth in this region is anticipated to be fueled by a rise in government measures to raise consumer awareness of health and wellness through supporting 2K and 5K races and requiring sports hours in schools and workplaces. Additionally, it is anticipated that rising socialisation rates, participation of individuals in recreational sports activities, and participation of Asian nations in sports at both the national and international levels will all increase product demand in the region. Moreover, China’s Sneakers market held the largest market share and the Indian Sneakers market was the fastest growing market in the Asia-Pacific region.

Sneakers Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Sneakers market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Sneakers industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Sneakers industry to benefit clients and increase the market sector. In recent years, the Sneakers industry has offered some of the most significant advantages to medicine. Major players in the Sneakers market, including Nike Inc., Adidas AG, New Balance Athletics, Inc., ASICS Corp., Kering SA, Skechers USA, Inc., Under Armour Inc., VF Corp., Puma SE, and Relaxo Footwears Limited, are attempting to increase market demand by investing in research and development End Users.

Designing, producing, and marketing athletic and sports lifestyle items is the business of adidas AG (adidas). The product line of the business comprises shoes, clothes, and accessories including purses, sunglasses, exercise gear, and balls. The business sells and distributes its items through franchise stores, own-branded stores, retail stores, wholesale stores, sporting goods chains, buying groups, department stores, lifestyle retail chains, and online retailers. Additionally, it advertises its products via mobile shopping apps and e-commerce websites. The adidas brand is used to market adidas' products. It also engages in a number of product franchises. Africa, the Middle East, Europe, the Americas, and Asia-Pacific are all regions in which the organisation conducts business. Herzogenaurach, Germany serves as the home base for adidas. Adidas AG and Guccio Gucci S.p.A. intended to unveil their eagerly awaited footwear collection centred on the Gazelle silhouette in July 2022.

Sports shoes, athletic apparel, and sporting goods are all available for purchase from ASICS Corp (ASICS), a manufacturer of sporting products. Additionally, it sells accessories including bags and packs, socks, hats, and intimate apparel. Under the Onitsuka Tiger, ASICS, ASICS Tiger, and Haglofs brand names, ASICS sells its products. The business offers its goods via a network of independently owned retail outlets and online sales platforms. Through its research institute, the ASICS Institute of Sport Science (ISS), as well as collaborations with other businesses and academic organisations, ASICS engages in considerable R&D. The Americas, Europe, the Middle East, Asia, and Oceania are all regions in which it operates. The headquarters of ASICS are in Kobe, Hyogo, Japan. In a virtual reality showroom in March 2020, ASICS unveiled a trio of athletic shoes, which also included the first pair of carbon-plate running shoes, the ASICS Metaracer. This long-distance running shoe features improved stability, a mesh top redesign to keep the feet cool, and a toe-spring shape redesign to relieve strain.

Key Companies in the Sneakers market include

• Nike Inc.


• Adidas AG


• New Balance Athletics, Inc.


• ASICS Corp.


• Kering SA


• Skechers USA, Inc.


• Under Armour Inc.


• VF Corp.


• Puma SE


• Relaxo Footwears Limited

Sneakers Industry Developments

March 2022: The formal debut of Lululemon's very own footwear line was revealed. The lifestyle company announced its ambitions to release four various shoe versions, with the Blissfeel shoe variant serving as the initial item.

December 2021: The Nama trainer was introduced by Chloe SAS. By using lower-impact materials, such as recycled materials and components, which account for 40% of the weight of the sneaker's materials, the new shoe symbolises the company's goal to lessen its impact on the environment.

Sneakers Market Segmentation

Sneakers Product Type Outlook

• Low-Top Sneakers


• Mid-Top Sneakers


• High-Top Sneakers

Sneakers End User Outlook

• Men


• Women


• Kids

Sneakers Distribution Channel Outlook

• Department Store


• Specialty Stores


• Online


• Others

Sneakers Regional Outlook

• North America
  
  
  
  • U.S.
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America