The report forecasts the global sports footwear market to grow at a CAGR of 2.55% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One of the latest trends gaining grounds in the market in the growing focus of manufacturers on show designing. With the growing demand for better and more sustainable options for sports footwear, vendors are venturing into different and varied designing and production techniques for sports shoes. They are focusing more towards consumer requirements, like comfort, style, and enhancement of performance while developing footwear.
According to the report, the increased awareness of the benefits of leading a healthy lifestyle has been propelling the growth of the global sports footwear market. Along with a rising inclination toward the adoption of physical activities by consumers, vendors are also recognizing the fact that the need for physical fitness among consumers can be further boosted with the advent of social media fitness apps and socially integrated fitness trackers.
Further, the report states that sports footwear manufacturers are experiencing fluctuations in their profit margins, owing to the fluctuating prices of raw materials and the increasing vendor competition.