Sneaker Market Report by Product Type (Low-Top Sneakers, Mid-Top Sneakers, High-Top Sneakers), Category (Branded, Private Label), Price Point (Luxury, Economic), Distribution Channel (Specialty Stores, Supermarkets and Hypermarkets, Brand Outlets, Online Stores, and Others), End User (Men, Women, Kids), and Region 2024-2032

Sneaker Market Report by Product Type (Low-Top Sneakers, Mid-Top Sneakers, High-Top Sneakers), Category (Branded, Private Label), Price Point (Luxury, Economic), Distribution Channel (Specialty Stores, Supermarkets and Hypermarkets, Brand Outlets, Online Stores, and Others), End User (Men, Women, Kids), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A12939
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Sneaker Market Size:

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. The market is thriving, driven by the rising prevalence of various cultural influence and brand collaborations, rapid technological innovations, growing emphasis on health and fitness among consumers, the heightened focus on sustainability, and the expansion of brands across the globe.

Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023 US$ 88.9 Billion
Market Forecast in 2032 US$ 147.2 Billion
Market Growth Rate 2024-2032 5.76%

Sneaker Market Analysis:

  • Market Growth and Size: The market is witnessing stable growth, driven by the increasing health awareness among consumers, the widespread integration of sneakers into daily wear, and the growing demand for various sneaker styles, such as athletic and luxury designs.
  • Major Market Drivers: According to the sneaker industry overview, key drivers influencing the market growth include the rising cultural influences, enhanced celebrity endorsements, and fashion collaborations that create a high demand for limited-edition releases and exclusive collections. Moreover, the growing emphasis on health and fitness and the casualization of workplace attire is propelling the market growth.
  • Technological Advancements: Recent innovations in material science and digital technology that revolutionize sneaker designs. Furthermore, the development of smart sneakers that are equipped with connectivity features is supporting the market growth.
  • Industry Applications: The market is experiencing high product demand in sports, athletics, fashion, entertainment, and leisure, due to the ongoing transition from athletic gear to a lifestyle staple.
  • Key Market Trends: The key market trends involve the ongoing shift towards sustainability-focused designs and eco-friendly materials, responding to consumer demand for environmentally responsible products. Additionally, the rising popularity of sneaker resale markets and the digital customization of sneakers are bolstering the market growth.
  • Geographical Trends: According to the sneaker industry overview, North America leads the market due to its strong culture around sneakers, and the presence of major sneaker manufacturing companies. Other regions are also showing significant growth, fueled by increasing urbanization and youth population.
  • Competitive Landscape: The market is characterized by the active involvement of key players who are engaged in innovating various product design, marketing, and sustainability to expand their global presence. Furthermore, companies are focusing on collaboration with celebrities and fashion brands to enhance brand appeal and market share.
  • Challenges and Opportunities: The market faces various challenges, such as counterfeiting and market saturation. However, the evolving consumer preferences for casual and innovative footwear and the widespread utilization of e-commerce platforms are creating new opportunities for the market growth.

Sneaker Market


Sneaker Market Trends:

Rising prevalence of cultural influence and brand collaborations  

The rising intersection of sneakers with popular culture through collaborations with celebrities, artists, and designers, is one of the major factors boosting the sneaker industry size. Moreover, the growing adoption of sneakers as they transcended their original athletic purposes to become symbols of fashion, identity, and status, is fueling the market growth. Besides this, the increasing popularity of limited-edition releases and exclusive designs that blend high fashion with streetwear, elevating sneakers to luxury items is providing a thrust to the market growth. In addition to this, the increasing influence of culture in sneakers that merges style, comfort, and personal expression is bolstering the market growth. Moreover, the heightened focus on social media and influencer marketing to improve brand visibility and create a sense of urgency among consumers is fueling the market growth.

Rapid technological advancements and innovation

The rapid advancements in materials science, leading to the development of lighter, more durable, and sustainable materials that enhance the performance and comfort of sneakers, are providing a thrust to the market growth. In line with this, rapid innovations such as fly knit technology or boost cushioning features that combine advanced technology with comfort and style are catalyzing the sneaker industry growth. Furthermore, the integration of digital technology into sneakers, including smart features like tracking fitness data to provide personalized coaching, is bolstering the market growth. Apart from this, the increasing utilization of three-dimensional (3D) printing technology that allows for rapid prototyping, customization, and on-demand production is acting as a growth-inducing factor.

Growing focus on health and wellness trends

The growing health consciousness among consumers and an increased focus on fitness and wellness are major factors propelling the sneaker industry share. In line with this, the rising participation in sports and fitness activities as people invest in maintaining a healthy lifestyle, boosting the demand for athletic footwear, is fueling the market growth. Along with this, sneakers are perceived as essential gear for enhancing athletic performance, providing support, and preventing injuries, aligning with the consumer's commitment to health and fitness goals. Moreover, the imposition of various governmental initiatives that promote physical health, as well as the proliferation of fitness apps and platforms that encourage an active lifestyle, are creating a positive outlook for the market growth. Additionally, the ongoing casualization of workplace dress codes and the integration of sportswear into daily fashion are enhancing the market growth.

Increasing demand for sustainability and ethical consumerism

The increasing awareness about environmental issues and ethical consumerism among the masses is positively impacting the market growth. In line with this, the growing demand for sneakers that are made from eco-friendly materials and produced through sustainable methods, is creating a positive outlook for the market. Along with this, the heightened product adoption from brands that prioritize sustainability, offer transparency regarding their supply chains, and actively reduce their carbon footprint is fostering the market growth. In line with this, rapid innovations in sustainable materials, such as recycled plastics, organic cotton, and bio-based fabrics, are favoring the market growth. Moreover, the adoption of circular economy principles, leading to the production of sneakers that are designed to be recycled or remade at the end of their lifecycle are contributing to the sneaker industry growth.

Rising globalization and expansion of the e-commerce sector

The rising globalization across the globe, encouraging brands to expand their reach and consumer base, is acting as a growth-inducing factor. Moreover, the emergence of e-commerce platforms and digital marketing strategies that enable sneaker brands to transcend geographical boundaries and reach a wider audience is boosting the sneaker industry size. Along with this, the increasing urbanization and the growing middle class across the globe fueling the demand for premium products is anticipated to drive the market growth. Furthermore, the burgeoning organization of international sporting events and global pop culture for promoting sneakers and bridging the gap between diverse cultures and demographics is enhancing the market growth. Apart from this, the heightened influence of regional trends and consumer preferences, prompting brands to adopt localized strategies, is catalyzing the market growth.

Sneaker Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product type, category, price point, distribution channel, and end user.

Breakup by Product Type:

Sneaker Market

  • Low-Top Sneakers
  • Mid-Top Sneakers
  • High-Top Sneakers
     

Mid-top sneakers accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the product type. This includes low-top sneakers, mid-top sneakers, and high-top sneakers. According to the report, mid-top sneakers represented the largest segment.

Mid-top sneakers represented the largest segment, as it strikes a balance between the ankle support of high-tops and the agility offered by low-tops. Moreover, their rising adoption due to their versatile design that suits a myriad of activities, while offering a moderate level of support and protection, is boosting the sneaker industry's growth. Besides this, the increasing utilization of mid-top sneakers in the basketball footwear sector, owing to the heightened need for balance, support, and flexibility, is catalyzing the market growth. Apart from this, the widespread product demand among athletes, fashion enthusiasts, and casual wearers as they offer a harmonious blend of functionality and fashion, is fostering the market growth.

Low-top sneakers are characterized by their absence of material covering the wearer's ankle. They are utilized by consumers who seek comfort, style, and ease of movement. Moreover, low-top sneakers are favored for their lightweight design while enhancing flexibility and offering a less restrictive fit, making them ideal for daily wear and a variety of sports activities.

High-top sneakers are distinguished by their coverage that extends above the ankle and are recognized for their enhanced support and stability. They are employed by consumers who are looking for extra ankle support, a snug fit, and a distinctive style statement. Moreover, the increasing adoption of high-top sneakers, as they offer a unique combination of functionality, protection, and bold fashion, is boosting the sneaker industry's share.

Breakup by Category:

  • Branded
  • Private Label
     

Branded holds the largest share in the industry

A detailed breakup and analysis of the market based on the category have also been provided in the report. This includes branded and private label. According to the report, branded accounted for the largest market share.

Branded sneakers are dominating the market, driven by enhanced consumer loyalty, global recognition, and significant investments in marketing and innovation. Moreover, they are esteemed for their quality, innovation, and status symbol. Along with this, the rising adoption of branded sneakers as they benefit from strong brand heritage, extensive research and development (R&B), and high-profile endorsements and collaborations, is positively impacting the sneaker industry size. Besides this, the introduction of comprehensive marketing strategies, including celebrity partnerships, influencer marketing, and engaging social media campaigns, which enhance brand visibility and appeal, is enhancing the market growth.

Private-label sneakers cater to the cost-conscious demographic who are looking for affordable, functional footwear. Moreover, they focus on competitive pricing, reasonable quality, and the latest style trends. Beside this, the increasing presence of e-commerce platforms, which make private label sneakers more accessible to a broader audience, is promoting the sneaker’s industry share.

Breakup by Price Point:

  • Luxury
  • Economic
     

Luxury represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the price point. This includes luxury and economic. According to the report, luxury represented the largest segment.

The luxury segment holds the largest market share, driven by the consumers' growing demand for high-end and designer footwear that combines exclusivity with fashion-forward design. Moreover, the rising popularity of prestige brands, that engage in collaborations with renowned designers and offer limited edition releases, and high-quality craftsmanship are fueling the market growth. Besides this, the increasing willingness to invest in premium price points for luxury items, which are perceived as symbols of status and personal style, is catalyzing the sneaker industry's growth. Furthermore, the continuous innovation in sneakers, widespread incorporation of artisanal techniques, and bespoke services that cater to an affluent clientele who seeks differentiation and personalization is fueling the market growth.

The economic or budget-friendly segment appeals to cost-conscious consumers who prioritize value for money, durability, and comfort without the premium price tag. They cater to a broad demographic, including students, budget-conscious families, and price-sensitive shoppers, offering them a variety of choices that align with current fashion trends at more accessible price points.

Breakup by Distribution Channel:

  • Specialty Stores
  • Supermarkets and Hypermarkets
  • Brand Outlets
  • Online Stores
  • Others
     

Specialty stores exhibits a clear dominance in the market 

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes specialty stores, supermarkets and hypermarkets, brand outlets, online stores, and others. According to the report, specialty stores accounted for the largest market share.

Specialty stores represent the largest segment as they offer a curated selection of footwear that caters to specific consumer interests and preferences. They are characterized by a deep focus on particular sports, styles, or sneaker cultures, providing a comprehensive retail experience and combining product variety with expert knowledge and personalized customer service. Moreover, the high level of customer engagement and the tailored shopping environment that resonates with enthusiasts looking for particular styles, brands, or the latest trends are enhancing the sneaker’s industry growth. Besides this, specialty stores host exclusive releases and limited-edition models, attracting sneaker fans and collectors who seek unique products.

Supermarkets and hypermarkets cater to convenience-seeking shoppers who prioritize ease of access and one-stop shopping for a variety of goods, including footwear. Along with this, their widespread utilization by consumers who look for practicality and value and seek basic sneakers for everyday wear is creating a positive outlook for the market growth.

Brand outlets provide a direct-to-consumer experience, showcasing a wide array of sneakers from a single brand. They allow brands to control their merchandising, present their full product range, and immerse customers in their products. Moreover, the rising popularity of brand outlets due to their authenticity, access to the latest collections, and the opportunity to experience the brand's ethos is boosting the market growth.

Online stores provide a vast selection of sneakers, while offering convenience at competitive pricing. They appeal to a technologically advanced demographic that values the ease of browsing, comparing, and purchasing products. Besides this, the increasing trust in e-commerce platforms, the convenience of home delivery, and the ability to access rare products are catalyzing the sneaker industry size.

Breakup by End User:

  • Men
  • Women
  • Kids
     

Men dominates the market

The report has provided a detailed breakup and analysis of the market based on the end user. This includes men, women, and kids. According to the report, men represented the largest segment.

The men's segment holds the largest market share, driven by the increasing demand for a diverse range of styles, such as athletic, casual, and luxury sneakers. Moreover, the rising interest in fashion and personal style, coupled with a longstanding tradition of sneaker culture that resonates strongly with male consumers, is providing a thrust to the sneaker industry growth. Besides this, the growing popularity of sports and athletic activities among men, as well as the growing trend of incorporating sneakers into everyday and business casual attire, is enhancing the market growth.

The women's segment has shown remarkable growth, reflecting a shift in fashion trends and the increasing adoption of sneakers as a staple in women's wardrobes. Moreover, they are embracing sneakers due to their versatility, comfort, and style in work and more formal outfits. Besides this, the introduction of various options that are designed to cater to women's tastes and preferences, including feminine designs and collaborations with female influencers and fashion icons, is positively impacting the sneaker industry size.

The kids' segment caters to the needs of parents who are seeking durable, comfortable, and stylish footwear for their children. They address the practical requirements of children's footwear, such as durability to withstand active play, adjustability for growing feet, and safety features like non-slip soles. In addition to this, the heightened focus on fun and engaging elements, such as vibrant colors, light-up soles, and character-themed sneakers, to attract the younger demographic is boosting the market growth.

Breakup by Region:

Sneaker Market

  • North America
    • United States
    • Canada
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

North America leads the market, accounting for the largest sneaker market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

According to the sneaker industry overview, North America is dominating the market, fueled by a strong athletic culture, a significant inclination towards fitness and sports, and a deep-rooted sneaker culture. Moreover, the presence of major sneaker brands and a vast consumer base that consistently seeks the latest in sneaker innovations, limited editions, and designer collaborations is providing a thrust to the sneaker industry size. Besides this, the increasing consumer spending power, advanced retail infrastructure, and a keen interest in adopting the latest fashion trends are catalyzing the market growth. Additionally, the growing trend of casual wear in the workplace and the integration of sneakers into everyday fashion, is also fueling the market growth.

The Asia Pacific region is a rapidly growing segment in the market, driven by expanding urbanization, increasing disposable incomes, and a young, fashion-conscious population. Moreover, the diverse consumer base in the region who are enthusiastic about local and international sneaker brands, is favoring the market growth. Apart from this, the emergence of e-commerce platforms and digital payment systems, making it easier for consumers to access a wide range of products, is fueling the sneaker industry's growth.

According to the sneaker industry overview, Europe's sneaker market is characterized by an increasing demand for fashion-forward and luxury sneakers, reflecting the region's rich fashion industry and the consumer's high interest in quality craftsmanship. Moreover, the growing adoption of sneakers that blend style, comfort, and sustainability, is providing a thrust to the market growth.

The Latin American sneaker market is growing, fueled by a youthful demographic, increasing urbanization, and a rising interest in health, wellness, and sports. Along with this, the increasing consumer spending patterns, leading to a steady demand for international brands and accessible local options, are enhancing the sneaker industry share. Moreover, the introduction of various marketing strategies, including sports endorsements and engagement with local cultures, is favoring the market growth.

According to the sneaker industry overview, the market in the Middle East and Africa is emerging due to the increasing awareness and adoption of health and fitness trends. Moreover, the widespread expansion of retail infrastructure and rising e-commerce adoption that make various products accessible to a wider audience is promoting the sneaker industry size.

Leading Key Players in the Sneaker Industry:

The major players are strategically leveraging a mix of innovation, collaboration, and sustainability to maintain and expand their market presence. They are investing in research and development (R&D) to introduce advanced technologies while enhancing the performance, comfort, and eco-friendliness of their products. Moreover, the leading firms are participating in high-profile collaborations with celebrities, designers, and influential brands to create buzz and drive demand through limited-edition releases and exclusive collections. Furthermore, they are adopting eco-friendly materials and production processes to minimize environmental impact and meet the growing consumer demand for responsible brands.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

  • Adidas AG
  • ASICS Corporation
  • Benetton Group S.r.l.
  • Columbia Sportswear Company
  • ECCO Sko A/S
  • Hanesbrands Inc.
  • Kering SA
  • New Balance
  • Nike Inc.
  • Puma SE
  • Reebok International Limited (Authentic Brands Group LLC)
  • Skechers U.S.A. Inc.
  • Under Armour Inc.
  • VF Corporation
     

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News: 

  • In July 2022, Adidas AG and Guccio Gucci S.p.A. planned to launch a footwear line centered on the Gazelle silhouette.
  • In March 2020, ASICS launched a trio of sports shoes in a VR showroom and the first carbon-plate running shoes named ASICS Metaracer that offers enhanced stability, redesigned mesh upper to keep the feet cool, and redesigned toe-spring shape to decrease the strain.
  • In March 2022, Authentic Brands Group (ABG) announced that it has completed the acquisition of Reebok from Adidas to preserve the brand’s heritage through the formation of Reebok Design Group (RDG) in partnership with SPARC Group.

Sneaker Market Report Scope:

Report Features Details
Base Year of the Analysis 2023
 Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
  • Product Type
  • Category
  • Price Point
  • Distribution Channel
  • End User
  • Region
Product Types Covered Low-Top Sneakers, Mid-Top Sneakers, High-Top Sneakers
Categories Covered Branded, Private Label
Price Points Covered Luxury, Economic
Distribution Channels Covered Specialty Stores, Supermarkets and Hypermarkets, Brand Outlets, Online Stores, Others
End Users Covered Men, Women, Kids
Regions Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Adidas AG, ASICS Corporation, Benetton Group S.r.l., Columbia Sportswear Company, ECCO Sko A/S, Hanesbrands Inc., Kering SA, New Balance, Nike Inc., Puma SE, Reebok International Limited (Authentic Brands Group LLC), Skechers U.S.A. Inc., Under Armour Inc., VF Corporation, etc.

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

  • How has the global sneaker market performed so far, and how will it perform in the coming years?
  • What are the drivers, restraints, and opportunities in the global sneaker market?
  • What is the impact of each driver, restraint, and opportunity on the global sneaker market?
  • What are the key regional markets?
  • Which countries represent the most attractive sneaker market?
  • What is the breakup of the market based on the product type?
  • Which is the most attractive product type in the sneaker market?
  • What is the breakup of the market based on the category?
  • Which is the most attractive category in the sneaker market?
  • What is the breakup of the market based on the price point?
  • Which is the most attractive price point in the sneaker market?
  • What is the breakup of the market based on the distribution channel?
  • Which is the most attractive distribution channel in the sneaker market?
  • What is the breakup of the market based on the end user?
  • Which is the most attractive end user in the sneaker market?
  • What is the competitive structure of the market?
  • Who are the key players/companies in the global sneaker market?

Key Benefits for Stakeholders:

  • IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the sneaker market from 2018-2032.
  • The research report provides the latest information on the market drivers, challenges, and opportunities in the global sneaker market.
  • The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the sneaker industry and its attractiveness.
  • The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Sneaker Market Report by Product Type (Low-Top Sneakers, Mid-Top Sneakers, High-Top Sneakers), Category (Branded, Private Label), Price Point (Luxury, Economic), Distribution Channel (Specialty Stores, Supermarkets and Hypermarkets, Brand Outlets, Online Stores, and Others), End User (Men, Women, Kids), and Region 2024-2032
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