According to recently published data from Future Market Insights (FMI), the Gym Shoes market was valued at US$ 364.3 million in 2022 and is anticipated to achieve US$ 565.7 million by 2032, with a Compound Annual Growth Rate (CAGR) of approximately 4.5% during the period from 2022 to 2032.
One of the primary drivers fueling the expansion of this market has been the increasing demand for comfortable and stylish footwear across all age demographics, coupled with heightened participation in sporting endeavors. Additionally, the market has been bolstered by growing consumer awareness of the health benefits associated with athletic footwear, coinciding with shifts in consumer lifestyles. These shifts have led to intense competition among sports footwear companies, prompting significant investments in brand building and marketing channels.
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Gym shoes are designed differently as there are different exercises, including weight lifting, cardio exercises, HIIT training, running and many more. To get comfort and proper support during workout sessions, use of appropriate shoes is important. People started to understand using proper equipment and technique will prevent injuries and future problems, and started using gym shoes while working out in gyms. The manufacturers are attracting the customers by promotional activities, marketing campaigns including collaborations and special sales at discounted prices. These activities help in keeping the customers engaged with brands, and increasing the sales.
The gym shoes market is heavily impacted by the counterfeit products. There are numerous manufacturers that produce low quality and cheap gym shoes, which attract customers. These counterfeit products directly affect the sales of genuine products. Additionally, environmental concerns and government regulations are also restraining the market.
Key Takeaways from the Sneaker Market Study
- The pull on type of gym shoes are popular among customers. these pull-on shoes are easy to wear, comfortable and lightweight, thus gaining high popularity in gym goers.
- The gym shoes are mainly made from mesh. Mesh is commonly used for the gym shoes, as it is light weight, breathable and flexible, giving maximum comfort while providing snuggle fit to feet.
- Men’s gym shoes have the highest demand in the market. Men usually include physical activities and exercise in their schedule, and prefer using comfortable footwear while working out, making the gym shoes popular among men.
- In the case of regional analysis of regions like the North America and Asia is expected to gain traction in the light up shoes market.
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“Awareness about complications and injuries due to improper exercises, and use of proper type shoes with desirable feature while training is increasing the popularity of gyms shoes among people.” Says an FMI Analyst.
Gyms, yoga and dance studios, and playgrounds were all closed due to the lockdown. All of these locations were major hubs for people to exercise and train outside. This stoppage eventually had an influence on gym shoe sales.
Manufacturers are increasingly adopting online marketplaces to compensate for the reduction in sales caused by the epidemic. Customers are drawn in by their low prices and exceptional deals.
Who is winning?
Leading players operating in the sneaker Nike Inc., Adidas Group, Asics Corp., Puma SE, New Balance Inc., Skechers Inc., Reebok, Under Armour, FILA Ltd., Lotto Sports Italia S.p.A. and among others.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the sneaker market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the Gym Shoes Market by Closure Type (Lace-Up, Pull-on, Elastic, Buckle, Others), Sole Material (Polyurethane, EVA, Rubber, Leather, Others), Outer Material (Fabric, Mesh, Synthetic, Leather, Others), Consumer Orientation (Men, Women), Sales Channel (Multi-brand Stores, Independent Small Stores, Online Retailers, Others) & Region – Forecast to 2022-2032
Gym Shoes Market by Category
By Closure Type
- Lace Up
- Pull-on
- Velcro
- Buckle
- Others
By Sole Material
- Polyurethane
- EVA
- Rubber
- Leather
- Others
By Outer Material
- Fabric
- Mesh
- Synthetic
- Leather
- Others
By Consumer Orientation
- Men
- Women
By Sales Channel
- Hypermarket/Supermarket
- Wholesalers/Distributors
- Specialty Stores
- Multi-brand Stores
- Independent Small Stores
- Online Retailers
- Other Sales Channel
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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