Global athletic footwear market was valued at USD 9 billion in 2014 and is expected to grow at an estimated CAGR of 1.8% over the forecast period. Increasing health consciousness among people is expected to drive the global athletic footwear market. Increased number of people wanting to be fit leads them to indulge into various sport activities, ultimately creating increased demand for athletic footwear& an opportunity to increase their product line.
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Increasing disposable income and standard of living is expected to drive athletic footwear market over the forecast period. Increasing interest in various sports and games such as tennis, baseball, basketball, soccer, squash, hiking and trekking is anticipated to positively affect the product demand. Rapid increase in number of people playing football in Asia pacific region may increase the seasonal sales of athletic footwear in the region.
Increase in raw material cost mainly synthetic rubber is expected to have an impact on the gross margins of companies. For example, around 15% increase in synthetic rubber cost can reduce the industry average margins by approximately 1.5%.
There is a need of a very strong distribution channel to be built globally as there is a very high competition from the local players. The decreasing margins for the vendors are a major issue which is expected to restrain the market growth.
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Different forms of distribution channels and retail network makes it a complicated push strategy channel where the shelf space and company owned store adds a lot of importance. A relatively higher average margin of 45% shows a very high mark-up price which is a discouraging factor for the customer to buy the branded products from established market players.
On the basis of product, the market can be segmented as insert shoes, sport or cross training, hiking and backpacking boots. Insert shoes can further be classified as aerobic shoes, running shoes, walking shoes and athleisure footwear.
Sports or cross training shoes include baseball, basket, tennis, soccer, cricket shoes and other sports footwear. Hiking shoes comprise of trekking &walking, seasonal and mountaineering boots. Back packing shoes include approach shoes, hiking boots and technical shoes.
Presently, insert shoe segment possesses highest share of approximately 35% but there is a huge increment in basketball shoe sale during the past few years, gaining over 3% of overall share which suggest the new scope in this segment.
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