NEW YORK, Aug. 8, 2023 /PRNewswire/ — According to the latest market analysis report by Technavio, the Football Shoes Market is set to achieve a Compound Annual Growth Rate (CAGR) of 4.36% between 2022 and 2027, propelling the market size to grow by an astonishing USD 2,099.12 million during the forecast period. The growth is fueled by several factors, including frequent product launches by companies, the demand for premium football shoes, and strategic mergers and acquisitions. The market report covers extensive market segmentation based on distribution channel, type of football shoes, and geography. Additionally, the report includes historic market data from 2017 to 2021, providing valuable insights for companies to refine their marketing strategies and gain a competitive edge. Click here to view the report.
The research report also includes detailed analyses of the competitive landscape of the market and information about 16 market companies, including:
- Adidas AG
- ANTA Sports Products Ltd.
- ASICS Corp.
- BasicNet Spa
- Concave International Pty Ltd.
- Decathlon SA
- Geox S.p.A
- Iconix International
- JOMA SPORT SA
- Lotto Sport Italia Spa
- Mizuno Corp
- New Balance Athletics Inc.
- NEW MILLENNIUM SPORTS S.L.
- Nike Inc.
- Pantofola Doro Spa
- PUMA SE
Key takeaways of the Football Shoes Market report:
- Frequent Product Launches Drive Market: Companies’ strategy of frequently launching new football shoe models keeps them up to date with the latest trends and preferences of consumers. Regular product launches generate excitement and anticipation among customers, leading to increased sales and customer loyalty.
- Increasing Online Penetration: The market is experiencing a significant shift towards online sales channels. E-commerce platforms and dedicated sports gear websites provide consumers with convenience, competitive pricing, and a diverse range of options, contributing to the rising popularity of online purchases.
- Counterfeit Products Pose a Challenge: The availability of counterfeit football shoes in the market poses a major challenge to genuine brands. These counterfeit goods damage the reputations of popular brands and lead to market share losses. It is essential for companies to tackle this issue to maintain customer trust.
- Offline Segment Shows Strong Potential: The offline segment, comprising specialty stores and brick-and-mortar retailers, is expected to witness significant growth. Consumers perceive offline stores as reliable sources for authentic shopping and prefer specialty stores offering popular football shoe brands.
- Leading Companies Shape the Market: Companies such as Adidas AG, Nike Inc., PUMA SE, and others dominate the football shoes market. These companies employ various strategies, including strategic alliances, product launches, and geographical expansion, to enhance their market presence.
- Opportunities for Growth: The report offers valuable insights into consumer adoption lifecycles, purchase criteria, and drivers of price sensitivity. Understanding these aspects can help companies refine their growth strategies and tailor their offerings to the evolving market demands. To get an insight into the football shoes market drives and trends, download the sample report here.
The football shoes market is expected to grow steadily due to drivers such as frequent product launches, increasing online penetration, and strong regional demand. However, the presence of counterfeit products remains a significant challenge. Companies are implementing various strategies to enhance their market presence, and Europe is expected to be a key region contributing to market growth. Get ready to dominate the field with the latest insights from our comprehensive report – Buy the report now and experience the game-changing advantage!”
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