Portland, OR, June 21, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global athletic equipment and footwear industry was pegged at $224.7 billion in 2018, and is anticipated to garner $323.4 billion by 2025, manifesting a CAGR of 8.6% from 2021 to 2025.
Upgraded features in sportswear and footwear over the years drives the growth of the global athletic equipment and footwear market. However, the availability of counterfeit products impedes the growth to some extent. At the same time, easy availability of such products on online portals and increase in accessibility & convenience of purchasing these products through the internet presents lucrative opportunities in the industry.
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Covid-19 scenario-
- The extended lockdowns, disrupted supply chain, suspended manufacturing activities, lack of raw materials, and several travel restrictions across the globe impacted the global athletic equipment and footwear market negatively.
- However, the global market is expected to recoup soon with relaxations on the current rules & regulations and with the rollout of mass vaccination programs.
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The global athletic equipment and footwear industry is studied across type and region.
Based on type, the market is bifurcated into equipment and type. The equipment segment dominated the market in 2018 with more than half of the global revenue share. In addition, the segment is anticipated to rule the roost by the end of 2025. The same segment, furthermore, is expected to exhibit the fastest CAGR of 9.1% throughout the forecast period.
Based on region, the market across outside USA accounted for the major revenue share in 2018, with nearly three-fourths of the global athletic equipment and footwear market. In addition, the region is expected to lead the trail by 2025. The same region is also anticipated to showcase the fastest CAGR of 9.5% from 2021 to 2025.
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Frontrunners profiled in the report include Adidas AG, Asics Corporation, Brooks Running Company, Fila Holding Corporation, Li Ning Company Limited, New Balance, Inc. Nike, Inc., Puma Se, Skechers USA, Inc., Under Armour, Inc., Callaway, Samsonite, Yonex Co., Ltd., Mizuno Corporation, Precor, Inc., Nautilus International, Inc., and Cybex International, Inc. The key players in the market adopted product launch and product development as their key strategies to cater to the increase in consumer demands.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.