Football Shoes Market Estimated At USD 28.9 Billion By 2030


 San Francisco, 4 Oct 2022: The Report Football Shoes Market Size, Share & Trends Analysis Report By Product (Firm Ground, Hard Ground/Multi Ground), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2022 - 2030

The global football shoes market size is expected to reach USD 28.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.3% from 2022 to 2030. The market is anticipated to witness promising growth owing to the increasing popularity and participation of the youth. Football sport remains one of the most popular sports across the world with fan-base growing ever so fast in Asia Pacific and the Middle East and Africa. Moreover, due to the rising health consciousness, many people are actively participating in group activities, including football for fitness purposes or as a leisure activity. This is also expected to increase the spending and boost the growth of the market.

Increasing production of sports footwear has a negative impact on the environment. For the production of a sports shoe, waste treatment of the discarded shoe affects the environment. According to a study by the Center for a Humane Economy, around 2 million kangaroos are slaughtered every year for their skin for the production of athletic shoes. According to the Triad, a garment recycling charity, 90% of the shoes that are discarded goes to landfill. The ethylene vinyl acetate used in shoes, which acts as a shock-absorbent, can last for more than 1000 years. The aforementioned factors are challenging the market growth.

The Covid-19 pandemic outbreak had a negative impact on the global market. Due to the restrictions and lockdowns, many tournaments, championships, and group activities were canceled or postponed. This has reduced the demand for football shoes in 2020. Additionally, the supply chain of raw materials was affected, along with the production and logistics, creating supply side disruption. Over the forecast period, the market is expected to recover quickly owing to the increasing trend of health consciousness and increasing participation in sports activities.

The firm ground product segment accounted for the largest revenue share of over 50.0% in 2021. These products are the popular choice among the players. Firm ground shoes have molded studs for excellent grip and better speed. This type of shoe is perfect for the surface that is between hard and soft, which is not treated and is more rough and dry. Among the firm ground shoes, Adidas x 19.1, Nike phantom venom, and Nike mercurial superfly 7 are some of the popular products among consumers.

The online distribution channel segment is anticipated to grow at the highest rate of 6.0% over the forecast period. The segment growth is facilitated by the increasing penetration of smartphones and internet connections. According to the GSMA, in 2020, around 94% of the world population is covered by mobile internet connectivity, which continues to rise. Moreover, increasing usage of online shopping by the youth and young adults due to convenience and comfort is driving the online segment.

Europe accounted for the largest revenue share of over 30.0% in 2021. This is mainly attributed to the high popularity of the sport in the region and high consumer spending on football-related items. Currently, there are around 37 professional leagues in Europe, representing 31 European countries and around 1000 professional clubs. Moreover, higher consumer spending and the strong presence of key companies in the region are responsible for the regional market growth. 

Access Research Report of Football Shoes Market @ https://www.grandviewresearch.com/industry-analysis/football-shoes-market-report

Football Shoes Market Report Highlights

  • The Middle East and Africa is anticipated to register the fastest growth rate of 6.2% from 2022 to 2030. Increasing participation, increasing initiatives by authoritative bodies, and rising consumer spending are driving the regional market
  • By product, the artificial ground segment is anticipated to register the 2ndhighest CAGR from 2022 to 2030. The segment growth is attributed to the increasing demand from the consumers associated with establishments of soccer arenas with artificial grounds
  • The offline distribution channel held the largest revenue share of over 70.0% in 2021. This is credited to the consumer perception, shopping behavior, and widespread presence of the channel

List of Key Players of Football Shoes Market

  • Adidas AG
  • Nike Inc.
  • Puma SE
  • Under Armour
  • Mizuno Corporation
  • Lotto Sport Italia
  • New Balance
  • ASICS Corporation

Access Press Release of Football Shoes Market @ https://www.grandviewresearch.com/press-release/global-football-shoes-market

 

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