Running Footwear Market Size to Grow by $ 1.16 bn through 2020-2024
The running footwear market is expected to grow by $ 1.16 bn, decelerating at a CAGR of almost -1% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
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Running Footwear Market: Segmentation by Distribution Channel
This report provides a detailed analysis of the market by Distribution Channel (Offline and Online) and Geography (APAC, Europe, North America, South America, and MEA). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges which are likely to influence market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.
Running Footwear Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. adidas AG, ANTA Sports Products Ltd., ASICS Corp., Columbia Sportswear Co., New Balance Athletics Inc., Nike Inc., PUMA SE, Skechers USA Inc., Under Armour Inc., and VF Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Running Footwear Market Size to Grow by $ 1.16 bn During 2020-2024
Technavio has been monitoring the running footwear market and it is expected to grow by $ 1.16 bn, decelerating at a CAGR of almost -1% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Running Footwear Market: MEA to lead market growth during the forecast period
Running Footwear Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. adidas AG, ANTA Sports Products Ltd., ASICS Corp., Columbia Sportswear Co., New Balance Athletics Inc., Nike Inc., PUMA SE, Skechers USA Inc., Under Armour Inc., and VF Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
For more insights on this market: Download a Free Sample Report
Running Footwear Market: Key Highlights of the Report for 2020-2024
Technavio has been monitoring the global running footwear market and it is expected to decrease by USD 1.16 billion decelerating at a CAGR of -1% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report
Running Footwear Market: Segmentation by Distribution Channel
During 2019, the offline segment accounted for the major share of the Running Footwear Market. The manufacturers of running footwear sell their products through both specialty stores and other retailing formats. To fuel sales through offline channels, vendors are expanding their stores in local and regional markets. This will drive the demand for running footwear from the offline segment during the forecast period. This report provides an accurate prediction of the influence of all the segments to the growth of the running footwear market size.
Running Footwear Market: Segmentation by Geography
MEA was the largest Running Footwear market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising spend on premium footwear products and increasing health consciousness among the population will significantly influence running footwear market growth in this region over the forecast period. 5% of the market’s growth will originate from MEA during the forecast period. Saudi Arabia, South Africa, and the UAE are the key markets for running footwear in MEA.
Running Footwear Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. adidas AG, ANTA Sports Products Ltd. and ASICS Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report
The running footwear market is likely to experience steady growth because of high profit margin and premiumization through product innovation. The market is estimated to have an incremental growth of USD 1.16 billion by 2024. Download Free Sample Report
As per a Technavio analyst: Increasing initiatives from prominent vendors in the market to enhance their product visibility and penetration are expected to boost the growth of the running footwear market
Technavio’s recent analysis of running footwear market, includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities. The study segments the markets in APAC, Europe, North America, South America, and MEA, geographically. The MEA region is expected to have a market share of 5%. This growth can be attributed to the growing spend of consumers on premium footwear products.
For further information on this analysis, please visit: https://www.technavio.com/industries/footwear
High labor cost and increasing anti-sweatshop campaigns are expected to hinder the growth of the market. However, increasing adoption of digital and social media marketing by the vendors to reach out to a target audience will have a positive impact on the running footwear market during the forecast period.
Technavio’s analysis of the running footwear market also includes:
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