NEWARK, Del, Jan. 18, 2023 (GLOBE NEWSWIRE) -- As per newly released data by Future Market Insights (FMI), the Sneakers Market is estimated at USD 72,232 million in 2022 and is projected to reach USD 1, 39,876 million by 2032, at a CAGR of ~6.8% from 2022 to 2032.
One of the key factors fuelling the growth of the sneakers market is the spread of e-commerce sites around the world. Every age group is becoming more inclined toward stylish, branded, and high-fashion footwear, and the rise in disposable income is driving up demand for more inventive and comfortable footwear, which is accelerating market growth.
Increased consumer preference for online media due to its flexibility and population-wide rise in health and wellness concerns are other factors that are influencing the market. Additionally, the market for sneakers is benefited by population growth, swift fashion trends, internet and smartphone penetration, and people's bettering lifestyles. Additionally, the ease with which customised and cutting-edge features may be added to footwear creates lucrative prospects for market participants over the projection period of 2022 to 2032.
On the other side, it is anticipated that the accessibility of locally produced, duplicated, or fake items will restrain market expansion. The COVID-19 epidemic is expected to complicate the raw material supply chain, which will pose a problem for the sneakers market.
Request a sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-16329
Key Takeaways from the Sneaker Market Study
- In terms of sales channel, offline retailing is likely to dominate over the forecast period. Whereas, consumer tastes are evolving, and instead of shopping offline, customers are turning to online retailing, which is prompting manufacturers to expand their online presence in the market. One of the major factors driving the growth of the online sales channel is the availability of a wide range of sneakers online.
- Women’s sneakers are in great demand and are rapidly increasing. Major footwear companies are targeting women’s sneakers, and the market is being bolstered through distinct advertising and branding.
- In the case of regional analysis of regions like the North America and Asia is expected to gain traction in the sneaker market.
“The demand for sneakers is rising in almost every part of the world. This type of footwear is preferred by people from every age group and is expected to grow at a rapid pace in the forecast period.” Says an FMI Analyst.
Impact of COVID-19 on the Market
The COVID-19 epidemic wreaked havoc on a multitude of industries throughout the world, including the footwear sector. Due to the discretionary nature of footwear, it was one of the most severely impacted businesses by the pandemic, as a consequence of the combined effect of outlet closures and austerity with regard to rapidly deteriorating economic conditions. Due to the accessibility of online commerce and doorstep delivery, the shoe industry has recovered, with a rise in demand in post-covid conditions.
Who is winning?
Leading players operating in the sneaker market Adidas Group, Nike Inc., New Balance, ASICS, PUMA SE, Under Armour, Inc., Li Ning Company Ltd., ECCO, China Dongxiang (Group) Co., Ltd., 361 Degrees International Limited., Vans, and Converseamong others.
Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-16329
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the sneaker market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the Sneakers Market by Product Type (Adult Sneakers, Children Sneakers) By Application (Sports, Lifestyle, Competition) By Consumer Orientation (Men, Women) By Sales Channel (Multi-brand Stores, Independent Small Stores, Online Retailers and Other Sales Channel) & Region - Forecast to 2022-2032.
Sneakers Market by Category
By Product Type, Sneakers Market is segmented as:
- Adult Sneakers
- Children Sneakers
By Application, Sneakers Market is segmented as:
- Sports
- Lifestyle
- Competition
By Consumer Orientation, Sneakers Market is segmented as:
- Men
- Women
By Sales Channel, Sneakers Market is segmented as:
- Multi-brand Stores
- Independent Small Stores
- Online Retailers
- Other Sales Channel
By Region, Sneakers Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Ask For Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-16329
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Key Findings
1.3. Summary of Key statistics
1.4. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.1.1. Millennials are Driving Force
3.1.2. Rapid Emergence of the Start-ups in the Market
Complete TOC with Report Preview: https://www.futuremarketinsights.com/reports/sneakers-market
Have a Look at Related Research Reports on Consumer Product
Cosmetic Pigments Market Forecast: The cosmetic pigments market size is estimated to be US$ 12.98 Bn in 2023 and is expected to reach roughly US$ 24.24 Bn by 2033, registering at a CAGR of 6.45% from 2023 to 2033.
Hair Dryer Market Demand: The global hair dryer demand is expected to register at a CAGR of 6.26%. The market revenue is likely to be valued at US$ 10.20 Bn in 2023, and exhibit a revenue growth of US$ 18.72 Bn by 2033.
Designer Sneaker Market Outlook: The Designer Sneaker Market is estimated at USD 182.9 Million in 2022 and is projected to reach USD 289.5 Million by 2032, at a CAGR of ~4.9% from 2022 to 2032.
Training Shoes Market Growth: The Training shoes market is estimated at USD 243.2 million in 2022 and is projected to reach USD 356.6 million by 2032, at a CAGR of ~3.9% from 2022 to 2032.
Women Sneakers Market Size: The Women Sneaker Market is estimated at US$ 27031.9 Million in 2022 and is projected to reach US$ 51703.5 Million by 2032, at a CAGR of 6.70 % from 2022 to 2032.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
