Global Sneakers Market Synopsis

In the year 2022, the global trainers market boasted a valuation of USD 78.9 billion. Looking ahead into the forecast period from 2023 to 2032, the Sneakers market is poised for significant growth, projected to surge from USD 84.9 billion in 2023 to a substantial USD 152.5 billion, exhibiting a noteworthy compound yearly growth rate (CAGR) of 7.60%. Key drivers fueling this expansion include the proliferation of international internet marketplaces and the escalating consumer preference for stylish, branded trainers.

The globalization of digital platforms stands out as a pivotal factor contributing to the industry's upward trajectory. A universal inclination towards high-fashion, branded trainers across all age groups, coupled with an uptick in disposable income, is fostering a heightened demand for innovative and comfortable footwear, thereby propelling the industry forward.

Despite these optimistic projections, there exists a potential hurdle in the form of locally produced goods that may be replicated or counterfeited, posing a challenge to market expansion. However, the market participants can find more lucrative opportunities by focusing on sneakers with modern features and easy customization.

The surge in the market is also attributed to the growing population engaging in various fitness-related activities and an increased emphasis on health and wellness concerns. Notably, the younger generation's heightened interest in sports and fitness is driving up the demand for sneakers. The market has responded by offering a diverse range of footwear options, accommodating varying preferences and budgets through a spectrum of colors, designs, and price points.

The ubiquitous presence of trainers as both casual and fashionable footwear across age groups is evident in the global consumption trends. The market's strategic expansion owes much to the implementation of appealing marketing and promotional techniques, the surge in online sales, and the introduction of novel and innovative products. As the Sneakers market journeys into the forecasted period, these factors are anticipated to play a pivotal role in shaping its growth trajectory.

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Key Companies in the Sneakers market include

v  Nike Inc.

v  Adidas AG

v  New Balance Athletics, Inc.

v  ASICS Corp.

v  Kering SA

v  Skechers USA, Inc.

v  Under Armour Inc.

v  VF Corp.

v  Puma SE

v  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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