According to the latest findings from Future Market Insights (FMI), the Men’s Sneakers Market is valued at US$ 31,927 million in 2022, with projections indicating a potential increase to US$ 52,135 million by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 5% during the specified period. These statistics underscore the enduring popularity of sneakers among men, driven by evolving fashion trends and increasing demand for casual footwear options. As the market continues to evolve, manufacturers have opportunities to innovate and cater to the diverse preferences of male consumers, thereby fueling further growth in the men’s sneaker market.
The current global rise in health awareness has led to an increase in the number of people using fitness facilities and participating in both indoor and outdoor exercise activities. All age groups have seen a rise in demand for men’s sneakers as a result. In addition, those who work select physical activities like running and swimming to stay fit and active. As a result, the demand for shoes has expanded across all age groups, expanding the size of the men’s sneaker market.
E-commerce, which is solely defined as the buying and selling of products and services using online platforms, is in very high demand worldwide. The most well-known form of e-commerce is online shopping. It has streamlined consumers’ purchase processes by making it more straightforward. Developed countries like the United States and Japan are more well-liked for internet shopping than developing countries like China and India. The retail landscape was different ten years ago than it is now. Men’s sneakers are in high demand because of the growth of e-commerce, which makes purchasing simpler, easier, and more convenient.
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Key Takeaways from the Men’s Sneaker Market Study
- Offline retailing is anticipated to rule the sales channel market during the forecast period. The shift in consumer preferences toward online commerce over traditional brick-and-mortar stores has forced manufacturers to increase their online market presence. The possibility to shop for a broad variety of men’s sneakers online is one of the main elements promoting the expansion of the online sales channel.
- Asia-Pacific dominated the market in terms of region during the forecast period, holding the biggest share. For businesses selling fresh and cutting-edge men’s sneakers, the Asia-Pacific market offers growth possibilities. Sneakers are becoming more popular among customers of all ages as a result of increased urbanisation and an increase in middle-class consumers in developing and developed economies.
- Due to the strong demand for new and novel sneakers, as well as the fact that many people are starting to view sneakers as a fashion accessory, the Men’s Sneaker Market has had and will continue to experience growth. Demand in the markets is also being driven by customers of all ages increasingly embracing stylish and comfortable sneakers.
”In the Men’s Sneaker Market, the demand for branded sneakers is growing at the fastest rate. The branded shoes are preferred by customers who purchase shoes through online sales channels since they are more affordable.” Says an FMI Analyst.
Who is winning?
Leading players operating in the Men’s sneaker market
- Adidas Group
- Nike Inc.
- New Balance
- ASICS
- PUMA SE
- Under Armour, Inc.
- Li Ning Company Ltd.
- ECCO
- China Dongxiang (Group) Co., Ltd.
- 361 Degrees International Limited.
- Vans
- Converse
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Men’s Sneakers Market by Category
By Product Type
- High top shoes
- Mid top shoes
- Low top shoes
By Application
- Sports
- Lifestyle
- Competition
By Closure Type
- Laces
- Velcro
- Straps
- Zippers
By Sales Channel
- 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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