Health and fitness have taken a leap in the world, and everyone seems to be worrying about how they look, and this so happens to affect the marketing trends of running shoes for 2020. With celebrities, over-promoted sport like football, and the hype of shoes overall, the market continues to change, and the industry has to adapt to the changing dynamic. We have provided an insight that can give you a clear image of the possible market trends for running shoes in 2020.
The Market Overview of Running Shoes
With the constant hype and promotion of running shoes, the CAGR is expected to grow up to about 6.6% in 2020. With international sports activities, celebrity endorsements, and the appeal of fitness, the market continues to grow and expand as people are hooked on running shoes.
Furthermore, the amount of technology invested in the shoemaking process has impacted and changed the concept of footwear, which constantly keeps consumers in demand, and the market continues to grow. When you have brands like Nike, Adidas, Asics, and Under Armour, you best believe that the market will continue to grow with the way these companies promote running shoes.
The Increase in Fitness & Health
With the world revolving on education, people also invest their time in sport or just fitness, which leads to the constant demand for sports accessories like running shoes. With the number of fitness clubs and gyms, the trend of running shoes seems to go inflow as the active lifestyle is very much in demand. With fitness activities like jogging, sprinting, and cycling, the necessity of running shoes is adamant. Millions of people participate in clubs, gyms, and societies that verify how much the demand for sportswear is in effect.
Furthermore, women’s sport is becoming more popular, which further increases and adds to the number of people demanding sportswear like running shoes to do running, yoga, aerobics, and cycling.
The Largest Market in North America
Basically, with the use of trends like health/fitness and casual and sportswear as a fashion statement has excessively grown in the region of North America. There are constant design and development programs that are regarding the making and distribution of sportswear.
Health and fitness are constantly promoted by the media and the people in North America, which has led to the excessive demand for sportswear like running shoes. Furthermore, North America constantly promotes e-commerce, of which sportswear is mostly bought off, which increases North America’s market size. This, therefore, leads to the trend of North America being the largest market of running shoes.
Competitive Landscape of the Market
The key players behind the market growth are Nike, Adidas, Asics, Under Armour, and New Balance, and they are continuing to expand their market with the way they promote their sportswear. With constant development and the use of technology, the key players penetrate the market and establish their bases worldwide to increase their market growth. The key players can be described from the best in a list form:
- Under Armour