Athletic Footwear Market

The article discusses the increasing demand for athletic footwear worldwide, with market performance forecast to have a CAGR of +4.0% in consumption and +6.6% in value from 2022 to 2030. In 2022, global consumption and production saw significant increases, with key consuming and producing countries highlighted. The United States, China, and Vietnam are among the top players in imports and exports of athletic footwear. Prices and growth rates vary across countries, with Vietnam leading in export value and volume. The article provides comprehensive insights into the trends and projections for the athletic footwear market.

Market Forecast

Driven by increasing demand for athletic footwear worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +4.0% for the period from 2022 to 2030, which is projected to bring the market volume to 2.1B pairs by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.6% for the period from 2022 to 2030, which is projected to bring the market value to $46.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Athletic Footwear

In 2022, consumption of athletic footwear increased by 9.9% to 1.5B pairs, rising for the second year in a row after two years of decline. In general, the total consumption indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +16.7% against 2020 indices. Global consumption peaked in 2022 and is expected to retain growth in years to come.

The global athletic footwear market size rose markedly to $27.7B in 2022, picking up by 7.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a strong increase. Over the period under review, the global market reached the peak level at $29.2B in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (313M pairs), China (186M pairs) and Pakistan (67M pairs), with a combined 37% share of global consumption. Nigeria, Brazil, India, Mexico, Bangladesh, Germany, Turkey, France, the UK and Belgium lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Belgium (with a CAGR of +78.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest athletic footwear markets worldwide were the United States ($5.2B), China ($2.8B) and Turkey ($1.6B), together accounting for 35% of the global market. Germany, France, Mexico, the UK, Brazil, Pakistan, Nigeria, Belgium, India and Bangladesh lagged somewhat behind, together accounting for a further 25%.

Belgium, with a CAGR of +83.6%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of athletic footwear per capita consumption was registered in Belgium (2,120 pairs per 1000 persons), followed by the United States (933 pairs per 1000 persons), Germany (566 pairs per 1000 persons) and France (452 pairs per 1000 persons), while the world average per capita consumption of athletic footwear was estimated at 2.6 pairs per 1000 persons.

From 2012 to 2022, the average annual growth rate of the athletic footwear per capita consumption in Belgium totaled +77.3%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the United States (+11.2% per year) and Germany (+12.8% per year).

Production

World Production of Athletic Footwear

In 2022, approx. 1.2B pairs of athletic footwear were produced worldwide; growing by 9.1% on the previous year's figure. Overall, the total production indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +12.4% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 19% against the previous year. Global production peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, athletic footwear production shrank to $21B in 2022 estimated in export price. Over the period under review, production enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 25% against the previous year. Over the period under review, global production attained the maximum level at $27.1B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (271M pairs), Vietnam (217M pairs) and Indonesia (97M pairs), with a combined 50% share of global production. Pakistan, Bangladesh, Nigeria, Brazil, India, Belgium, Turkey, Cambodia, Myanmar and Iran lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Belgium (with a CAGR of +38.9%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Athletic Footwear

In 2022, purchases abroad of athletic footwear increased by 28% to 1B pairs, rising for the second consecutive year after two years of decline. Overall, imports showed a strong increase. The growth pace was the most rapid in 2015 with an increase of 40%. Over the period under review, global imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, athletic footwear imports soared to $23.1B in 2022. Over the period under review, imports recorded resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 26% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports By Country

The United States was the key importing country with an import of about 320M pairs, which reached 31% of total imports. Germany (95M pairs) took the second position in the ranking, followed by Belgium (55M pairs), France (49M pairs) and Mexico (48M pairs). All these countries together took near 24% share of total imports. The following importers - the UK (34M pairs), Spain (29M pairs), the United Arab Emirates (27M pairs), Italy (27M pairs), the Netherlands (24M pairs), Japan (24M pairs), Canada (24M pairs) and South Korea (17M pairs) - together made up 20% of total imports.

From 2012 to 2022, average annual rates of growth with regard to athletic footwear imports into the United States stood at +12.9%. At the same time, the United Arab Emirates (+38.1%), Canada (+15.0%), Germany (+13.9%), Mexico (+12.0%), Spain (+11.5%), Belgium (+8.8%), France (+8.0%), the Netherlands (+7.2%), the UK (+5.9%), Japan (+5.9%), Italy (+5.5%) and South Korea (+4.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the world, with a CAGR of +38.1% from 2012-2022. The United States (+7.3 p.p.), Germany (+2.8 p.p.) and the United Arab Emirates (+2.3 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($5.6B) constitutes the largest market for imported athletic footwear worldwide, comprising 24% of global imports. The second position in the ranking was taken by Germany ($2.4B), with a 10% share of global imports. It was followed by France, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +16.8%. In the other countries, the average annual rates were as follows: Germany (+16.4% per year) and France (+12.0% per year).

Import Prices By Country

In 2022, the average athletic footwear import price amounted to $22 per pair, waning by -1.7% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2014 an increase of 21% against the previous year. Over the period under review, average import prices hit record highs at $22 per pair in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($36 per pair), while Mexico ($14 per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Athletic Footwear

In 2022, global athletic footwear exports skyrocketed to 690M pairs, rising by 37% against 2021. Overall, exports recorded a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, athletic footwear exports soared to $19.6B in 2022. In general, exports showed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2022, Vietnam (203M pairs) represented the main exporter of athletic footwear, comprising 29% of total exports. China (95M pairs) ranks second in terms of the total exports with a 14% share, followed by Indonesia (13%), Belgium (11%) and Germany (7%). Cambodia (19M pairs), France (19M pairs), Bangladesh (15M pairs), the United Arab Emirates (13M pairs) and the Netherlands (12M pairs) held a minor share of total exports.

Exports from Vietnam increased at an average annual rate of +12.6% from 2012 to 2022. At the same time, Cambodia (+65.6%), the United Arab Emirates (+38.4%), Bangladesh (+31.2%), Indonesia (+24.1%), Germany (+14.4%), Belgium (+11.3%), France (+7.6%), China (+2.8%) and the Netherlands (+2.3%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in the world, with a CAGR of +65.6% from 2012-2022. While the share of Indonesia (+9.4 p.p.), Vietnam (+6.3 p.p.), Cambodia (+2.8 p.p.), Germany (+2.3 p.p.), Bangladesh (+1.8 p.p.) and the United Arab Emirates (+1.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the Netherlands (-1.8 p.p.) and China (-13.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($6.6B) remains the largest athletic footwear supplier worldwide, comprising 34% of global exports. The second position in the ranking was taken by Indonesia ($3B), with a 15% share of global exports. It was followed by Belgium, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam stood at +16.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+27.6% per year) and Belgium (+13.3% per year).

Export Prices By Country

In 2022, the average athletic footwear export price amounted to $28 per pair, declining by -8.4% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, athletic footwear export price increased by +4.7% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of 17%. As a result, the export price attained the peak level of $31 per pair, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($36 per pair), while Bangladesh ($8.2 per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform