The global training shoes market size was valued at USD 55.76 billion in 2023 and is expected to be worth USD 58.40 billion in 2024. The market is projected to reach USD 88.80 billion by 2032, recording a CAGR of 5.38% during the forecast period.
Training shoes are footwear designed specifically for physical activities. They feature multidirectional movement, stability, and cushioning for gym workouts, fitness classes, and cross-training exercises. The widespread use of training shoes as everyday footwear is appealing to customers who prioritize comfort and style in their daily lives. This consumer preference results in a larger customer base for these products, significantly contributing to market growth.
The training shoes market experienced a significant impact from the COVID-19 pandemic. The implementation of lockdowns and restrictions resulted in decreased demand for training footwear due to the closure of gyms, cancellation of sports events, and the limited ability of individuals to participate in physical activities. Nonetheless, the pandemic underscored the importance of selecting suitable footwear for physical activities to prevent injuries, leading to an increase in product demand.
Fortune Business Insights™ displays this information in a report titled, “Training Shoes Market, 2024-2032.”
Information Source: https://www.fortunebusinessinsights.com/training-shoes-market-110682
Top Key Players in the Training Shoes Market:
- Nike, Inc. (U.S.)
- Adidas AG (Germany)
- Puma SE (Germany)
- Under Armour, Inc. (U.S.)
- ASICS Corporation (Japan)
- Skechers USA, Inc. (U.S.)
- Reebok International Limited (U.S.)
- Brooks Sports, Inc. (U.S.)
- Mizuno Corporation (Japan)
- Fila (South Korea)
Segmentation:
Recreational Segment to Dominate Global Market Owing to Their Focus on Comfort and Versatility
Based on usage type, the market is divided into professional and recreational. The recreational segment is expected to dominate the global market in the coming years. The focus of recreational users on comfort and versatility has resulted in a heightened demand for training shoes that offer all-day comfort and can be utilized for various activities.
Male Segment to Hold Dominating Position Due to Need for High-Performing Training Footwear by Amateur Male Athletes
Based on end-user, the market has been segregated into male and female. The male segment is anticipated to hold the dominating position in the future. Professional and amateur male athletes frequently need specialized and high-performing training footwear. This has resulted in a larger share of the market for products designed for men.
Offline Segment to Lead as it Enables Consumers to Witness Brand’s Store Environment and Product Displays
Based on distribution channel, the market is alienated into online and offline. The offline segment is projected to capture the dominant training shoes market share. It enables consumers to witness the brand’s store environment and product displays, which significantly improves brand perception and loyalty.
With respect to region, the market covers North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading applications, usage types, end-users, distribution channels, and key market players. It has also focused on the latest market trends and key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.
Drivers and Restraints:
Increase in Engagement in Fitness Activities to Accelerate Market Growth
Health awareness initiatives and educational resources highlight the critical role of proper footwear in preventing injuries during exercise. As individuals become more aware of the advantages of a healthy lifestyle, particularly the role of physical activity in mitigating chronic diseases, such as obesity, diabetes, and heart conditions, they are more inclined to incorporate regular exercise into their daily routines. This increase in engagement in fitness activities, including running, weightlifting, aerobics, and group workouts, subsequently drives demand for training footwear, contributing to market expansion.
However, escalating prices of raw materials have a direct impact on overall production costs, which may narrow profit margins for manufacturers, thereby impeding training shoes market growth.
Regional Insights:
Asia Pacific Led Global Market Owing to Increased Participation of Individuals in Regular Physical Activities
Asia Pacific accounted for the largest training shoes market in 2023. The surge in the number of people participating in regular physical activities, including running, gym workouts, and sports, is contributing to the increased demand for training footwear in the region.
Europe is projected to witness substantial growth driven by factors such as economic expansion, rising consumer expenditure, and increasing disposable incomes. This will enable consumers to invest in high-quality sports and fitness products, including training shoes.
Competitive Landscape:
Key Players to Focus on Investing in Research and Development Activities to Remain Competitive
The global market is characterized by intense competition, with leading brands operating globally, capturing around 60% of the share. Some of the key players operating in this market are Nike, Inc., Adidas AG, Puma SE, Under Armour, Inc., and ASICS Corporation. These players are adopting various strategies, such as investing in research and development activities and expanding their product and brand portfolios, to remain competitive.
Notable Industry Development:
July 2024: Hoka launched Speedgoat 6 training or racing shoes in California. These shoes feature a Speedgoat 6’s Vibram Megagrip outsole and a traction lug.
