Published on : Jun 20, 2016
The global footwear market comprises athletic shoes, aerobics shoes, walking shoes, sports footwear, leisure footwear, hiking shoes, specialty boots, trekking footwear, seasonal boots, and many others. Currently, the athletic footwear segment is displaying a strong grip in the global footwear market. As per a recent study, leading players such as Nike, Puma, and Adidas are constantly introducing new products to match the changing trends of athletes.
Changing lifestyles and innovations in footwear have propelled the global athletic footwear market. Over the past few years, the trends in the global athletic footwear market have shifted from running shoes to more casual athletic footwear. The increasing number of people participating in sports and athletics will benefit the global market in the years to come.
Piracy to Create Downfall in Athletic Footwear Market
Every year, the shady sector of pirated shoes attract many budget buyers. Piracy has affected the global athletic footwear market badly and will have a major impact in the years to come. Counterfeit products are accounting to a larger share in the global consumer goods market. At present, the footwear segment comprises the most pirated products, followed by the clothes and leather goods segments. A high percentage of counterfeit shoes sold every year is a concern for the leading players operating in the global athletic footwear market.
Even though buying counterfeit shoes is not a great deal, it affects economic growth and hampers innovation. It is a fact that manufacturers of pirated footwear and the ultimate buyers hamper the true efforts taken by branded designers, inventors, and shoe design creators. Piracy affects not just the branded companies but also the new entrants.
However, people have become aware of the growing presence of local companies offering duplicate shoes. Leading players are taking efforts to introduce new athletic footwear in the global market as per the needs of the patrons. Going forward, leading manufacturers are expected to focus on introducing new athletic footwear at affordable prices. The increasing sports events such as FIFA World Cup, ICC World Cup, the English Premier League, and the Olympics will increase the demand for genuine athletic footwear, thus benefiting the athletic footwear market.