Sneaker Market

The global sneaker market size reached US$ 88.9 Billion in 2023.

BROOKLYN, NY, UNITED STATES, February 7, 2024 /EINPresswire.com/ -- According to IMARC Group latest report titled “Sneaker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on sneaker market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global sneaker market size reached US$ 88.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 147.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.76% during 2024-2032.

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A sneaker, or athletic shoe, is a versatile and comfortable footwear designed for sports and casual wear. Characterized by a flexible sole and cushioned support, sneakers are renowned for their athletic functionality and have evolved into a fashion staple. With a history dating back to the 19th century, sneakers have seen various innovations in design, materials, and technology, catering to diverse activities and style preferences. Common features include rubber soles for traction, lightweight construction, and breathable materials. Sneakers have become a cultural phenomenon, influencing street fashion and pop culture. Iconic brands and collaborations contribute to the sneaker's status as both performance-oriented athletic gear and a symbol of self-expression in contemporary fashion.

Market Trends:

The global market is majorly driven by rising fashion trends. In line with this, the fusion of athletic functionality with fashion has propelled the market, making sneakers a versatile and stylish choice for diverse occasions. The rise of athleisure and casual fashion has further accelerated this trend, with consumers seeking comfortable yet fashionable footwear. Besides, the growing influence of celebrity endorsements, brand collaborations, and limited-edition releases contributes significantly to market dynamics, creating hype and driving consumer demand for exclusive sneaker releases. Technological innovations in materials, cushioning technologies, and design aesthetics also play a pivotal role, offering consumers enhanced performance attributes and aesthetic choices. Moreover, the prevalence of sneaker culture on social media platforms fuels visibility and consumer engagement, contributing to the sustained growth of the market.

Additionally, the expansion of e-commerce platforms and direct-to-consumer models has increased accessibility, allowing consumers to explore a vast array of sneaker options globally. The sustainability movement has also influenced the market, with an increasing demand for eco-friendly materials and production practices. Furthermore, sneaker resale markets and platforms contribute to the market's vibrancy, emphasizing the value of limited editions and rare releases.

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Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players operating in the market.

• Adidas AG
• ASICS Corporation
• Benetton Group S.r.l.
• Columbia Sportswear Company
• ECCO Sko A/S
• Hanesbrands Inc.
• Kering SA
• New Balance
• Nike Inc.
• Puma SE,
• Reebok International Limited (Authentic Brands Group LLC)
• Skechers U.S.A. Inc.
• Under Armour Inc.
• VF Corporation

Key Market Segmentation:

Our report has categorized the market based on region, product type, category, price point, distribution channel, and end user.

Product Type Insights:
• Low-Top Sneakers
• Mid-Top Sneakers
• High-Top Sneakers

Category Insights:
• Branded
• Private Label

Price Point Insights:
• Luxury
• Economic

Distribution Channel Insights:
• Specialty Stores
• Supermarkets and Hypermarkets
• Brand Outlets
• Online Stores
• Others

End User Insights:
• Men
• Women
• Kids

Regional Insights:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
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