Running Shoes Market Revenue to Top US$ 74.2 Billion by 2031; Trail Segment to Lead Sales in the Near Future – Transparency Market Research
Millennials are becoming more conscious of fitness and health, and lifestyle problems are becoming more common, which is expected to drive market demand for running shoes
Wilmington, Delaware, United States, April 04, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global running shoes market size stood at US$ 48.4 Bn in 2022 and is anticipated to touch the mark of US$ 74.2 Bn by 2031. The global market is expected to expand at a CAGR of 4.9% between 2023 and 2031.
Growing consumer interest in athletic and sporting activities, is anticipated to boost the running shoes market value at a steady pace in the near future. Market development is also aided by increase in disposable income.
Major market players are emphasizing on modifications and innovations in running shoes to improve their product range and increase their consumer base. Manufacturers are also making substantial investments on advertising and promotional efforts in order to boost their market share. Several local shoe brands are solidifying their dominant position by introducing fresh and cutting-edge items
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Running shoes are basically a kind of sporting footwear that is specially designed for running. They are often made from lightweight, breathable fabrics for the purpose of keeping the feet comfortable and cool during running.
Running shoes frequently come with extra characteristics like support and cushioning to protect the feet and prevent injuries. These attributes are anticipated to fuel market development.
Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | USD 48.4 Bn | |
| Estimated Value | USD 74.2 Bn | |
| Growth Rate – CAGR | 4.9% | |
| Forecast Period | 2023–2031 | |
| No. of Pages | 190 Pages | |
| Market Segmentation | Running Surface, Product Type, Closure, Price, End-user, Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies covered | Adidas, ASICS Corporation, Brooks Sports, Inc., Hoka One One, Mizuno Corporation, Nike, Inc., PUMA SE, Reebok International Limited, Salomon, Under Armour, Inc. | |
Key Findings of Market Report
- Based on the recent market trends, the road running surface segment is anticipated to hold a notable proportion of the global industry between 2023 and 2031. The most popular kind of footwear is a pair of road running shoes. In addition to providing support structure to enhance each step and shock absorption, these shoes are specifically designed to assist the feet when running.
- Road running shoes frequently assist in addressing issues with foot posture, such as supination (underpronation) or over pronation. These shoes are available in a range of styles to cater to different tastes.
- Based on product type, the cushioning shoes segment is projected to lead the global running shoes market from 2023 to 2031. Significant arch support and midsole foot cushioning are provided by cushioning shoes. These shoes are able to boost sports performance whilst helping prevent injuries.
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Global Running Shoes Market: Growth Drivers
- As more people become aware about the health advantages of running, there is an increase in popularity of running shoes globally. Running shoes strengthen the arch and guard against injuries when running. Running enhances overall wellbeing and boosts cardiovascular system health.
- Recent research found that activities like jogging or walking for just an hour on a treadmill are good for overall wellness and health. The study was published in the journal Medicine and Science in Sports and Exercise. Hence, growing emphasis on health is anticipated to fuel market demand for running shoes in the next few years. Alarming rise in incidences of lifestyle diseases and growing awareness among the youth about the importance of physical health and fitness are expected to drive industry growth.
- Since the importance of health and wellness has grown, more people are engaging in outdoor recreational activities. In accordance with a recent poll by World Athletics, the world’s governing organization for athletics, 40% of individuals in ten different countries identify themselves as runners, and 30% of all those who run at least once each week.
- Males make up 53% of runners, while females make up 47%. According to RunRepeat, a business that analyzes running shoes, 1.1 million people complete a marathon annually, or around 0.01% of the global population. With more people participating in various running activities or events, the global running shoes market is expected to witness considerable growth.
Global Running Shoes Market: Regional Landscape
- North America is anticipated to account for the highest market share between 2023 and 2031. Rising involvement in athletics and other outdoor activities, growing emphasis on fitness and wellness, and presence of major vendors in the region are projected to drive business opportunities in the North America market.
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Global Running Shoes Market: Key Players
Some of the key players in the global running shoes market are as follows
- Reebok International Limited
- ASICS Corporation
- Under Armour, Inc.
- Brooks Sports, Inc.
- PUMA SE
- Hoka One
Global Running Shoes Market: Segmentation
Running Surface
- Road
- Track
- Trail
- Others
Product Type
- Stability Shoes
- Motion Control Shoes
- Cushioning Shoes
Closure
- Lace-up
- Single-pull Lace
- Bungee Lace
- Others
Price
- Low
- Medium
- High
End-user
- Men
- Women
- Kids
Distribution Channel
- Online
- Offline
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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