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Increasing Inclination of Individuals toward Fitness to Drive Global Sports Footwear Market

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Published on : Aug 04, 2016

ALBANY, New York, August 04, 2016: ResearchMoz.us has added a new report, titled “Global Sports Footwear Market 2016-2020,” to its offering. This study presents a detailed understanding of the market and encapsulates the key trends and dynamics such as opportunities, restraints, and drivers influencing the present and future condition of the global sports footwear market.  In addition, market attractiveness analysis and Porter’s five forces analysis have also been used through this study. An elaboration on the prime strengths and weaknesses of the key players dominant in the market also forms a key part of this study.

The first section of the report, on the market overview, encapsulates the current size of the market and its predicted growth by the end of the forecast period. The global sports footwear market is predicted to rise at a 2.55% CAGR from 2016 to 2020. The increasing product proliferation from key vendors and their focus on incorporating advanced production techniques and designs will support the growth of the global sports footwear market. Next in the report is a value chain analysis of the market followed by the segmentation of the market.

In terms of product type, the global sports footwear market has been segmented into gym and training shoes, athleisure, court game shoes, cleats, and running shoes. Of these, the segment of running shoes is predicted to lead the market during the forecast period and is poised to represent a share of approximately 24% in the market by 2020. This segment is expected to exhibit a CAGR of approximately 5.0% by 2020. This is owing to the increasing awareness amongst individuals about maintaining a healthy lifestyle globally. 

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By application, the report segments the market into sports-inspired footwear, performance footwear, and outdoor sports footwear. Amongst these, the segment of outdoor sports footwear currently holds the largest share in market and is predicted to hold a share of over 47% by 2020. The increasing rate of participation in outdoor activities will raise the demand for outdoor sports footwear. Geographically, the report segments the sports footwear market into Europe, Asia Pacific (APAC), North America, and Rest of the World (RoW). Amongst these, APAC currently holds a significant revenue share in the market and is anticipated to represent a share of approximately 43% in the market in the forecast horizon.

In the next part of the report, the prime drivers, restraints, opportunities, and trends in the market for sports footwear have been presented. The increasing inclination of individuals toward fitness as well as sports is a prime factor driving the growth of the market. In addition, the increasing focus on advanced shoe designs by market players is a prime growth opportunity in the market. However, the soaring cost of raw materials may negatively impact the development of the market for sports footwear. 

According to the study, the prominent vendors dominant in the market for sports footwear are Adidas, ASICS, New Balance, Nike, and Skechers, among others.

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