Sneaker Market

Market Overview:

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 evolving fashion trends, the shifting consumer inclination toward stylish footwear, and the rising expenditure capacities of consumers represent some of the key factors driving the market.

Sneakers are shoes used for outdoor activity, usually made of canvas with a rubber sole. The sole of a sneaker is flexible and manufactured of leather, synthetic fabrics, and mesh and is further processed on specialized machinery. They are widely used for physical activities, such as running, walking, playing sports, and everyday casual wear. Sneakers are designed to provide support and cushioning to the feet while doing a range of activities. They are generally made of breathable materials and are often paired with casual clothing, such as jeans or shorts. They help prevent injuries and provide ankle support that keeps your ankles from twisting and rolling. Sneakers offer good traction and excellent arch, heel, and toe support, which assists in preventing slips and falls.

Sneaker Market Trends:

The evolving fashion trends across the globe is one of the key factors driving the market growth. In line with this, the shifting consumer inclination toward quality and stylish footwear is acting as another growth-inducing factor. Moreover, the widespread product adoption due to the rising health consciousness among the masses as they provide enhanced comfort during running, walking, and weight training activities are favoring the market growth. Besides this, consumers are seeking matching footwear to coordinate with their clothing with specific designs, materials, and sizes, which, in turn, is propelling the market growth. Apart from this, the launch of sneakers manufactured from improved and breathable materials that enhance comfort, durability, and performance is providing an impetus to the market growth. Additionally, the utilization of additive manufacturing and three-dimensional (3D) printing technology to put trendy, complex designs, and intricate patterns together with enhanced precision and accuracy is creating a positive outlook for the market. Furthermore, manufacturers are focusing on adopting sustainable production methods, including using ethically sourced, eco-friendly, or recycled materials, which is positively influencing the market growth. Along with this, the increasing celebrity endorsements and aggressive promotional activities by brands to expand their existing consumer base are providing a considerable boost to the market growth. Other factors, including the rising expenditure capacities of consumers, the escalating influence of social media, increasing participation in fitness activities, and the easy product availability across e-commerce platforms, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global sneaker market report, 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.

Product Type Insights:

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

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

Category Insights:

• Branded
• Private Label
   

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

Price Point Insights:

• Luxury
• Economic
   

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

Distribution Channel Insights:

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

A detailed breakup and analysis of the sneaker market based on the distribution channel has 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.

End User Insights:

• Men
• Women
• Kids
   

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

Regional Insights:

• 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
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for sneaker. Some of the factors driving the North America sneaker market included the rising expenditure capacities of consumers, the growing inclination toward premium and stylish footwear, and easy product availability across e-commerce platforms.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global sneaker market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered 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, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Sneaker Market Report Scope:

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 price point?
• Which is the most attractive price point in the sneaker market?
• What is the breakup of the market based on distribution channel?
• Which is the most attractive distribution channel in the sneaker market?
• What is the breakup of the market based on end user?
• Which is the most attractive end user in the sneaker market?
• What is the competitive structure of the global sneaker market?
• Who are the key players/companies in the global sneaker market?

Key Benefits for Stakeholders:

• IMARC’s 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 study 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 assist 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.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.