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HomeRetailEstimated to Reach $215.6 Billion by 2031, Growing at 5.3% CAGR From...

Estimated to Reach $215.6 Billion by 2031, Growing at 5.3% CAGR From 2021-2031

Estimated to Reach 5.6 Billion by 2031, Growing at 5.3% CAGR From 2021-2031

Sneaker Market Overview, 2031

The branded segment was the highest revenue contributor to the market is estimated to reach $140.84 billion by 2031, with a CAGR of 4.96%.

The luxury segment was the highest revenue contributor to the market, with $84.01 billion in 2021, and is estimated to reach $135.62 billion by 2031, with a CAGR of 5.07%.โ€

โ€” Roshan Deshmukh

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, June 29, 2024 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Sneaker Market” by Product Type, by End User, by Price Point, by Category, by Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The global sneaker market was valued at $131.1 billion in 2021, and is projected to reach $215.6 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.

Download Exclusive PDF Sample Report @https://www.alliedmarketresearch.com/request-sample/17284

The rise of the sports industry and the industries that depend on it is supported by the educational system’s paradigm shift. Additionally, the popularity of sports instruction and training in academic settings has greatly elevated awareness of exercise and sports. As a result, a lot of educational institutions and schools give kids training so they may participate in a variety of sporting events.

Additionally, the development of the sneaker business is aided by customers increasingly selecting outdoor activities like adventure sports to decompress or break up the monotony of their daily lives. The market is growing as a result of initiatives done by various governments in nations like Australia and India to encourage sports, health, and fitness. These programs have raised public awareness of sports and sports-related items.

The global sneaker market is analyzed on the basis of product type, end user, price point, category, distribution channel, and region. By product type, the market is divided into low-top sneakers, mid-top sneakers, and high-top sneakers. Among these, the mid-top sneakers segment occupied the major share of the market in 2021, and is projected to maintain its dominance during the forecast period. Innovative product launches and higher level of comfort offered by shoes have also increased demand for mid-top sneakers.

By end user, the market is divided into men, women, and kids. The growth of the men’s sneaker segment is being fueled by people being able to spend more on luxury items due to an increase in disposable income.

By distribution channel, the sneaker market growth is divided into supermarket/hypermarket, specialty stores, brand outlets, e-commerce, and others. The specialty stores segment is anticipated to grow at highest CAGR during the forecast period. Specialty stores offer options such as discounts as well as benefits of immediate gratification, which results in growth of the sneaker market demand.

By price point, the market is divided into luxury and economic. A major factor projected to fuel the expansion of the global sneaker market is consumers’ increased willingness to spend more on sneakers due to improved lifestyles and rising disposable income.

By category, it is classified into private label and branded. The branded segment is anticipated to grow at the highest rate during the forecast period. Consumers buying shoes through online sales channels prefer the branded ones, as they can afford them in low price. This factor is boosting the branded sneaker market trends.

๐…๐‹๐€๐’๐‡ ๐’๐€๐‹๐„ (๐“๐ข๐ฅ๐ฅ ๐Ÿ๐Ÿ“๐ญ๐ก ๐‰๐ฎ๐ฅ๐ฒ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ’) ๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐†๐ž๐ญ ๐„๐ฑ๐œ๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ž ๐ƒ๐ข๐ฌ๐œ๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ, ๐‚๐ก๐ž๐œ๐ค๐จ๐ฎ๐ญ ๐ฅ๐ข๐ง๐ค @https://www.alliedmarketresearch.com/checkout-final/f6811a6cc7837aa24198be253b8c914b

Region wise, Asia-Pacific dominated the market with the largest share during the forecast period. The Asia-Pacific market possesses growth potential for companies offering new and innovative footwear products. Increase in urbanization and surge in middle-class consumers in developing and developed markets have encouraged the adoption of convenience-oriented lifestyles, making sneaker more desirable for consumer of all age groups.

The major players analyzed for the sneaker industry are 361 Degrees International Limited, Adidas Group, ANTA Sports Products Limited, Asics Corporation, Crocs Retail, Llc, Ecco Sko A/S, New Balance Inc., Nike, Inc, Peak Sports, Puma SE, Skechers U.S.A., Inc., Under Armour, Inc., VF Corporation, Wolverine World Wide, Inc, Xtep International Holdings Limited.

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ข๐ง๐  ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐š๐ง๐ ๐ƒ๐ž๐ฆ๐š๐ง๐ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐’๐ง๐ž๐š๐ค๐ž๐ซ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:

๐…๐š๐ฌ๐ก๐ข๐จ๐ง ๐š๐ง๐ ๐‹๐ข๐Ÿ๐ž๐ฌ๐ญ๐ฒ๐ฅ๐ž: Sneakers have transcended their functional purpose and have become a significant part of fashion and lifestyle culture worldwide. Consumers increasingly view sneakers as a form of self-expression, leading to a demand for diverse styles, designs, and limited-edition releases.

๐‚๐จ๐ฅ๐ฅ๐š๐›๐จ๐ซ๐š๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ ๐๐š๐ซ๐ญ๐ง๐ž๐ซ๐ฌ๐ก๐ข๐ฉ๐ฌ: Collaborations between sneaker brands, designers, artists, and celebrities have become a key driver of growth and demand. These collaborations often create exclusive and highly sought-after sneaker releases, fueling excitement and increasing consumer interest.

๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐œ๐š๐ฅ ๐ˆ๐ง๐ง๐จ๐ฏ๐š๐ญ๐ข๐จ๐ง: Technological advancements in sneaker design and materials have contributed to both performance-oriented and lifestyle-focused sneakers. Features such as lightweight materials, advanced cushioning systems, and sustainable manufacturing practices attract consumers looking for comfort, performance, and eco-friendly options.

๐‘๐ž๐ฌ๐š๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ: The sneaker resale market has experienced explosive growth, driven by the scarcity of limited-edition releases and high demand from collectors and enthusiasts. This secondary market presents opportunities for both brands and resellers to capitalize on the value of rare and coveted sneaker designs.

๐‚๐ž๐ฅ๐ž๐›๐ซ๐ข๐ญ๐ฒ ๐š๐ง๐ ๐ˆ๐ง๐Ÿ๐ฅ๐ฎ๐ž๐ง๐œ๐ž๐ซ ๐‚๐ฎ๐ฅ๐ญ๐ฎ๐ซ๐ž: Endorsements and collaborations with celebrities and influencers play a significant role in shaping consumer preferences and driving demand for specific sneaker styles. Brands often leverage the influence of celebrities to create hype and generate buzz around new releases.

๐ƒ๐ข๐ ๐ข๐ญ๐š๐ฅ ๐“๐ซ๐š๐ง๐ฌ๐Ÿ๐จ๐ซ๐ฆ๐š๐ญ๐ข๐จ๐ง: The rise of e-commerce platforms and digital marketing has transformed the way consumers discover, purchase, and engage with sneaker brands. Brands are increasingly investing in online retail channels, immersive digital experiences, and social media marketing to reach and connect with consumers globally.

Enquire More About this Report (Ask Our Experts) @https://www.alliedmarketresearch.com/purchase-enquiry/17284

๐Š๐ž๐ฒ ๐๐ž๐ง๐ž๐Ÿ๐ข๐ญ๐ฌ ๐…๐จ๐ซ ๐’๐ญ๐š๐ค๐ž๐ก๐จ๐ฅ๐๐ž๐ซ๐ฌ:

โ—‹ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the sneaker market analysis from 2021 to 2031 to identify the prevailing sneaker market opportunities.
โ—‹ The market research is offered along with information related to key drivers, restraints, and opportunities.
โ—‹ Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
โ—‹ In-depth analysis of the sneaker market segmentation assists to determine the prevailing Sneaker Market Growth.
โ—‹ Major countries in each region are mapped according to their revenue contribution to the global market.
โ—‹ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

๐‘๐ž๐š๐ฌ๐จ๐ง๐ฌ ๐ญ๐จ ๐›๐ฎ๐ฒ ๐’๐ง๐ž๐š๐ค๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:

โ€ข Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
โ€ข Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
โ€ข Classify potential new clients or partners in the target demographic.
โ€ข Develop tactical initiatives by understanding the focus areas of leading companies.
โ€ข Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
โ€ข Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
โ€ข Report will be updated with the latest data and delivered to you within 2-4 working days of order.
โ€ข Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
โ€ข Create regional and country strategies on the basis of local data and analysis.

๐‘๐ž๐š๐ ๐Œ๐จ๐ซ๐ž ๐“๐ซ๐ž๐ง๐๐ข๐ง๐  “๐€๐Œ๐‘ ๐„๐ฑ๐œ๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ž ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:

โ—‹ Canada Sneaker Market Opportunity Analysis and Industry Forecast, 2021-2031
โ—‹ Mexico Sneaker Market Opportunity Analysis and Industry Forecast, 2021-2031

โ—‹ Europe Sneaker Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/europe-sneaker-market-A89372

โ—‹ Germany Sneaker Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/germany-sneaker-market-A89374

โ—‹ France Sneaker Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/france-sneaker-market-A89375

โ—‹ Italy Sneaker Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/italy-sneaker-market-A89376

โ—‹ Spain Sneaker Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/spain-sneaker-market-A89377

โ—‹ Russia Sneaker Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/russia-sneaker-market-A89378

David Correa
Allied Market Research
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Originally published at https://www.einpresswire.com/article/723784413/sneaker-market-2024-estimated-to-reach-215-6-billion-by-2031-growing-at-5-3-cagr-from-2021-2031

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