London, 13 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the global sports footwear market 2015-2019, which is projected to grow at a CAGR of 2.43% during the forecast period of 2014-2019.
The growing GDP per capita (PPP), rising disposable incomes of consumers, and growing populations are some of the economic factors that are contributing to the growth of sports footwear market. Manufacturers such as Nike, Adidas, ASICS, and Puma are offering new, innovative, and technology-driven sports footwear to tap into the new customer groups.
“Comprehending the needs and changes in demand of consumers, many manufacturers have introduced customized products. For instance Reebok launched Rbkcustom, which allows consumers to customize their shoes with patriotic prints,” says Faisal Ghaus, Vice President of Technavio.
“Also, letting customers design or create their own sports footwear will not only tie a customer close to the brand but will also act as a differentiating factor in comparison to other brands present in the market.”
Key Market Drivers
- Increased Awareness of Healthy Lifestyles
- Increasing Number of Sports Events
- Growing Interest in Sports
- Increased Marketing Activities and Promotions
Key Market Trends
- Growing Demand for Lightweight Sports Footwear
- Growing Demand for Customized Sports Footwear
- Demand for Technology-driven Sports Footwear
- Growth in Online Sales of Sports Footwear
Key Market Vendors
- Adidas AG
- ASICS Corp.
- Nike Inc.
- Puma SE
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
