- Running shoes are footwear which protect and offer comfort to the feet. Shoe designs have varied greatly through the years, and they vary from culture to culture. The importance of shoes for a particular activity has expanded the market, as specific shoes are required for particular activity. The specification of shoes not only depends on the activity but also on other factors such as age, gender, weight, and any previous injury to the back or ankle or any other part of the leg.
- Demand for running shoes has seen an upward trend since the last few years due to increasing popularity of outdoor activities. This factor, coupled with increasing disposable income and inclination toward physical fitness is expected to drive the global running shoes market during the forecast period.
Key Drivers and Opportunities of the Global Running Shoes Market
- Technology growth has led to development of advanced running shoes, offering more comfort and protection. Traditionally, shoes were made from leather, canvas etc., but these days, shoes are made from rubber, plastic, and petrochemical derived materials. Human foot is vulnerable to environmental hazards such as temperature extremes and sharp rocks. Increasing outdoor activities along with safety concerns is expected to drive the global running shoes market during the forecast period.
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- Increasing realization among consumers that sports and fitness activities can reduce the risk of chronic disorders and ensure good health is set to drive product demand. Consumers have realized the importance of appropriate gear to avoid leg injuries, knee injuries, and muscle pain, which is expected to drive the demand for running shoes during the forecast period.
- Manufacturers of running shoes are focusing on developing more stable and comfortable products. Some manufacturers are also providing customization services to attract more consumers. Sales growth through innovative product launches, online channels, promotional strategies, and appealing marketing by companies is projected to expand the running shoes market during the forecast period.
- Rise in raw material prices coupled with environmental concerns about synthetic rubber have emerged as major challenges for the running shoes market. The current outbreak of Covid-19 has resulted in decline of sales of running shoes in 2020. However, the market is expected to grow during the forecast period.
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North America to Hold Major Share of the Global Running Shoes Market
- Geographically, the global running shoes market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America is expected to dominate the global running shoes market due to increasing outdoor activities. North America is likely to be followed by Europe, Asia Pacific, South America, and Middle East & Africa.
- The market in Asia Pacific is likely to grow at a rapid rate during the forecast period due to increasing disposable income and changing lifestyles.
Key Players Operating in the Global Market
Major players operating in the global running shoes market include:
- ASICS
- Nike, Inc.
- Adidas AG
- New Balance Athletics, Inc.
- Saucony
- Under Armour, Inc.
- Reebok International Limited
- Salomon Group
- Brooks Sports, Inc.
- Mizuno Corporation
- Puma SE
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