According to newly released data from Future Market Insights (FMI), the men’s sneakers market is estimated to be valued at USD 31,927 million in 2022 and is projected to reach USD 52,135 million by 2032, with a CAGR of approximately 5% from 2022 to 2032.
The current global increase in health awareness has resulted in more people utilizing fitness facilities and engaging in various indoor and outdoor exercise activities, leading to a heightened demand for men’s sneakers across all age groups. Additionally, individuals pursuing physical activities such as running and swimming to maintain fitness further contribute to this growing demand, expanding the overall 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.
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.
Competitive Landscape
Major suppliers of men’s sneakers are primarily focusing on product innovation to provide consumers with optimal stability and comfort. To maintain their market position, they are also emphasizing effective branding strategies. Additionally, market players are expected to find growth opportunities during the forecast period through acquisitions and collaborations.
For instance:
- The BB 4000 II, a legendary basketball shoe from Reebok’s BB footwear brand from the 1980s, has triumphantly made a comeback. The new BB 4000 II, which maintains the 1989 design while making slight value changes, provides exceptional craftsmanship and a highly wearable profile at an accessible price range, appropriate for any outfit or fashion.
Key Companies Profiled
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, Men’s Sneakers Market is segmented as:
- High top shoes
- Mid top shoes
- Low top shoes
By Application, Men’s Sneakers Market is segmented as:
- Sports
- Lifestyle
- Competition
By Closure Type, the Men’s Sneakers Market is segmented as:
- Laces
- Velcro
- Straps
- Zippers
By Sales Channel, Men’s Sneakers Market is segmented as:
- Multi-brand Stores
- Independent Small Stores
- Online Retailers
- Other Sales Channel
By Region, Men’s Sneakers Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa(MEA)
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 over 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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