Sneakers Market Synopsis

In 2022, the market for trainers was worth USD 78.9 billion. During the projection period (2023 – 2032), the Sneakers market industry is anticipated to increase from USD 84.9 billion in 2023 to USD 152.5 billion, at a compound yearly growth rate (CAGR) of 7.60%. Internet marketplaces that are spreading internationally and consumers’ growing taste for fashionable, branded trainers are the main factors boosting industry growth.

The globalisation of digital platforms is one of the main factors promoting the industry’s growth. The preference for high-fashion, branded trainers among all age groups and rising disposable income are fueling demand for more innovative and comfortable trainers, which is propelling industry growth.

However, it is projected that the availability of locally produced goods that are replicated or counterfeit may hinder the expansion. Sneakers with modern features and easy customization provide market participants more lucrative opportunities. People who participate in various fitness-related activities are driving the market because of the expanding population and growing health and wellness concerns. The rising interest in sports and fitness among the younger generation has also led to an increase in product demand.

The prevalence of trainers among people of all ages as both casual and fashionable footwear is evidenced by the volume of trainers consumed internationally. The market offers a selection of footwear that varies in colour, design, and price to accommodate the preferences and budgets of varied clients.

The sneaker market expanded as a result of the use of appealing marketing and promotional techniques, the increase of online sales, and the introduction of novel products.

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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

Segmentation

Low-top sneakers, mid-top sneakers, and high-top sneakers are included in the segmentation of the Sneakers Market based on Product Type. In 2022, the mid-top trainers category dominated the world market.

Men, women, and children are included in the segmentation of the Sneakers Market based on End User. In 2022, the men’s category dominated the world market.

Department stores, specialty shops, internet retailers, and others are included in the segmentation of the trainers market depending on distribution channel. In 2022, the sneakers market was controlled by the online segment.

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Regional Insights

North America, Europe, Asia-Pacific, and the rest of the world are the regions covered by the market insights. In 2022, this market was dominated by the North American sneakers market (45.80%). Customers’ changing lifestyles, growing fashion consciousness, and high disposable income are to blame for this, which encourages them to place comfort over price. The United States is the key nation in the region where there is a rising need for trainers. Trainers have historically been linked to American culture, yet they are now worn widely all around the world. Many people seek trainers, particularly the younger generation. The Asia Pacific area took the lead in 2021 in terms of revenue share. Additionally, the U.S. sneakers market had the biggest market share and the quickest rate of growth.

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