Latest News- Sneakers Market: Adult sneaker is expected to lead the Product segment during 2025-2029

The Sneakers Market is being driven by Increasing premiumization due to introduction of more innovative sneakers

The Sneakers Market is expected to grow at a CAGR of 6.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 34.06 billion. In the sneakers market, there is a rising consumer trend towards eco-consciousness, driving a surge in demand for sustainable manufacturing processes. Key competitors have responded by integrating eco-friendly materials such as recycled polyester, plant-based rubber, EVA foam, organic cotton, and synthetic leather into their production. These materials not only cater to customer preferences but also minimize the industry's environmental footprint. For the past five to seven years, this shift towards sustainability has been a significant focus in the sneaker manufacturing sector. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Adult sneaker
  • Children sneaker
• Distribution Channel
  • Offline
  • Online
• Product Type
  • Low-top sneakers
  • High-top sneakers
  • Mid-top sneakers
• Geography
  • APAC
    • China
    • India
    • Japan
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing premiumization due to introduction of more innovative sneakers
• Popularity of marketing strategies such as celebrity endorsements
• Expansion of distribution networks

However, the market also witnesses some limitations, which are as follows:

• Volatile cost of raw materials
• Availability of counterfeit products
• Growing popularity of anti-sweatshop campaigns

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Market Scope in Sneakers Market Research Report

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Research Analysis Overview

In the bustling sneaker market, high-end and authentic branded sneakers reign supreme, offering customized features for fitness-related activities. However, counterfeit products pose a threat, deceiving consumers with imitation luxury goods and fake brand names. Mid-top and low-top sneakers made from sustainable materials are popular among fitness enthusiasts, rock climbers, and fashion-conscious individuals. Genuine shoe brands continue to innovate, introducing new designs and collaborations, while consumer spending on athletic and leather footwear remains strong. Offline retail and online platforms cater to diverse preferences, ensuring accessibility for all. Fitness facilities and fashion trends further fuel the demand for this versatile footwear.

Market Research Overview

The global footwear market, encompassing both athletic and non-athletic categories, is a significant segment of the larger textile, apparel, and luxury goods industry. According to Technavio's market analysis, the market's growth is propelled by the escalating popularity of branded footwear. This trend is attributed to the expanding youth and middle-class demographics, as well as the influence of urbanization on consumer preferences. High-fashion sneakers, featuring customized designs and sustainable materials, have gained immense traction in fitness-related activities. Concurrently, the market faces challenges from counterfeit products, necessitating stringent measures to ensure authenticity and brand protection.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/