NEW YORK, Feb. 23, 2021 /PRNewswire/ -- Technavio announces the release of its latest report on the running footwear market. The market is segmented by distribution channel (offline and online) and geography (APAC, Europe, North America, South America, and MEA). Get a Free Sample Report Delivered Instantly
The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments.
Running footwear Market: Key Findings
- Running footwear market value to show a decremental growth of USD 1.16 billion during 2020-2024. However, the growth momentum is expected to decelerate at a CAGR of about (1)% during the forecast period
- 5% of market growth to originate from MEA during the forecast period
- Based on the distribution channel, the offline segment will offer maximum opportunities for vendors during the forecast period
- Running footwear market is expected to have a negative impact due to the spread of COVID-19
Running Footwear Market: Growth Drivers
High profits associated with running footwear is one of the prime factors driving the growth of the market. Running footwear is available in different forms and innovative designs that enhance the performance of any sport. These are generally priced higher than regular footwear and help manufacturers earn more profits. Also, running footwear is sold at high prices despite their low manufacturing cost. With growing consumer interest in the expensive and premium products, the demand for such products is likely to increase during the forecast period.
"Premiumization through product innovation and growing social awareness for fitness will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Running Footwear Market: Major Vendors
adidas AG operates its business through segments such as Footwear, Apparel, and Hardware. The company offers a wide range of running shoes for men, women, and children under the Adidas and Reebok brands.
ANTA Sports Products Ltd.
ANTA Sports Products Ltd. operates its business through segments such as ANTA, FILA, and All other brands. The company offers a wide range of running shoes for men, women, and children under its ANTA, FILA, Amer Sports, and Descente brands.
ASICS Corp. operates its business through segments such as Japan, North America, Europe, Greater China, Oceania, Southeast and South Asia, and Other regions. The company offers running shoes such as CONTEND 6 TS, GEL-KAYANI 27 GS, GT-2000 8, and REBILAC RUNNER MP under the ASICS and Onitsuka Tiger brands.
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