A $206 Billion Industry in Sight- How Sports Shoes Have Been Taking the Market by Storm

 The shoe market has always been a consistent one as everyone likes to wear shoes. However, there is a particular category that is raking in a huge amount of money. The sports footwear market has a grasp on the field as sports shoes are comfortable to wear and they look fashionable too. 

Sport shoe industry deals in billions

As of now, the sports footwear market is set to enjoy somewhere around one US$115.9 billion since 2022. It is a very commendable number and North America is the hub of the sports footwear market where 30% of the sales are recorded during valuation.

In the modern times of physical activities, sports and gym, the sports market has made its base a very strong one. There are certain shoe designs and certain marketing ideas which are adding to this huge number in billions. For example, there are shoes for active lifestyle and fitness which would be customized for comfort and provide strength for running purposes.

There are fashion trends shoes as well which are very showy and could work for an outdoor event. However, every brand keeps track of the updates in the industry and they customize their shoes according to that.

Big guns shooting their shot at the right time

It is impressive to see how the leading sports brand, New Balance, Adidas and Nike compete with each other and bring out the best in shoes. In January 2021, New balance showcased their new shoes, the New Balance 991. They were made in collaboration with Patta.

In June 2021, seeing this change from New Balance, Adidas introduced “Solarthon”. They were designed for comfort and are lightweight shoes that are used in the golf shoe market. One of the most striking features of this Adidas lineup was that it was made of recycled products and it was purely to boost its idea of ending plastic, a powerful marketing strategy. If you attach a good cause to your product, people are definitely going to buy it.

In May 2021, Nike launched their Zoom X Invincible Run which was purely designed as running shoes. They further made Nike a very tough opponent in the field of athletic footwear.

Also, read: Nike vs Anta: Kyrie Irving’s New Chinese-Made Sneakers Already Outshine His Former Signature Shoes at $167.62 Billion Brand

Every leading brand including Nike, Adidas, Under Armour, Puma, Sketchers, New Balance, etc, which are producing running shoes, basketball shoes, football shoes, training shoes, cricket shoes, etc, are constantly adding to reach that $206 billion mark in the upcoming 10 years. Who knows, with this growing trend and people buying shoes on a large scale, it can even surpass this mark.

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