LONDON--(BUSINESS WIRE)--The global sports footwear market is expected to register a CAGR of almost 3% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the rising number of sports tournaments because of the growing spectator interest. The increasing interest of the population around the world in sports activities has a direct effect on the number of sports tournaments. Thus, in recent times, the sports industry has witnessed an upsurge in the number of tournaments. This has resulted in a rise in the demand for sports gear and equipment such as footwear.
This market research report on the global sports footwear market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the use of environment-friendly materials to manufacture sports gear and equipment as one of the key emerging trends in the global sports footwear market:
Global sports footwear market: Use of environment-friendly materials to manufacture sports gear and equipment
With the emphasis on the preservation of the environment, there is a growing demand for sustainable products among customers. The global sports footwear market is expected to witness an increased demand for the use of eco-friendly raw materials in its manufacturing process. In the past 5-7 years, a recycle form of polyester, eco-friendly rubber, organic cotton, and synthetic leather are some of the materials used during the manufacturing process of sports footwear.
“The competitors have been catering to the consumers’ demand by increasingly focusing on manufacturing products that can reduce negative effects on the environment. For instance, a major vendor has developed a strategy to reduce the environmental effects of their products by contributing to water conservation and sustainability,” says a senior analyst at Technavio for research on retail goods and services.
Global sports footwear market: Segmentation and analysis
This market research report segments the global sports footwear market into the following products (athleisure, running, court game, and cleats), applications (outdoor, sports-inspired, and performance), end-users (professional and recreational), and key regions (the Americas, APAC, and EMEA).
The athleisure segment held the largest market share in 2017, accounting for nearly 28% of the market. This product segment is expected to dominate the global market throughout the forecast period.
APAC held the highest share of the global sports footwear market in 2017, accounting for a market share of approximately 41%. The market share occupied by this region is anticipated to increase by almost 3% during 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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