The Gym Shoes Market Size is estimated at USD 364.3 million in 2022 and is projected to reach USD 565.7 million by 2032, at a CAGR of ~4.5% from 2022 to 2032.
Fitness activities and healthcare awareness is spreading all over the globe, as the COVID pandemic is over. People realised the importance of healthy lifestyle, and started doing workouts where they can. People were forced to do workouts and exercises in small places with almost no equipment and gears.
As the lockdown was lifted, people flocked to gyms and other physical activity centres to start an active and fit lifestyle after pandemic. Manufacturers and particular brands that provide gym shoes began to provide special shoes that are ideal for a variety of activities. People who attended the dancing lessons and other events expressed an interest in acquiring these various sorts of shoes.
Gym shoes are designed differently as there are different exercises, including weight lifting, cardio exercises, HIIT training, running and many more. To get comfort and proper support during workout sessions, use of appropriate shoes is important. People started to understand using proper equipment and technique will prevent injuries and future problems, and started using gym shoes while working out in gyms. The manufacturers are attracting the customers by promotional activities, marketing campaigns including collaborations and special sales at discounted prices. These activities help in keeping the customers engaged with brands, and increasing the sales.
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The gym shoes market is heavily impacted by the counterfeit products. There are numerous manufacturers that produce low quality and cheap gym shoes, which attract customers. These counterfeit products directly affect the sales of genuine products. Additionally, environmental concerns and government regulations are also restraining the market.
Key Takeaways from the Sneaker Market Study
The pull on type of gym shoes are popular among customers. these pull-on shoes are easy to wear, comfortable and lightweight, thus gaining high popularity in gym goers.
The gym shoes are mainly made from mesh. Mesh is commonly used for the gym shoes, as it is light weight, breathable and flexible, giving maximum comfort while providing snuggle fit to feet.
Men’s gym shoes have the highest demand in the market. Men usually include physical activities and exercise in their schedule, and prefer using comfortable footwear while working out, making the gym shoes popular among men.
In the case of regional analysis of regions like the North America and Asia is expected to gain traction in the light up shoes market.
“awareness about complications and injuries due to improper exercises, and use of proper type shoes with desirable feature while training is increasing the popularity of gyms shoes among people.” Says an FMI Analyst.
Impact of COVID-19 on the Market
COVID-19 had severe impact on the gym shoes market. The pandemic resulted into a sharp drop in the sales, as the retail shops were forced to close due to the restrictions from governments of many countries. The production of the products was halted, as there were restrictions on public gathering. The trades of raw material and finished goods, both domestic and international were also limited. These factors resulted into massive loss to the manufacturers all over the world.
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Gyms, yoga and dance studios, and playgrounds were all closed due to the lockdown. All of these locations were major hubs for people to exercise and train outside. This stoppage eventually had an influence on gym shoe sales.
Manufacturers are increasingly adopting online marketplaces to compensate for the reduction in sales caused by the epidemic. Customers are drawn in by their low prices and exceptional deals.
Who is winning?
Leading players operating in the sneaker Nike Inc., Adidas Group, Asics Corp., Puma SE, New Balance Inc., Skechers Inc., Reebok, Under Armour, FILA Ltd., Lotto Sports Italia S.p.A. and among others.
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Future Market Insights, in its new offering, provides an unbiased analysis of the sneaker market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the Gym Shoes Market by Closure Type (Lace-Up, Pull-on, Elastic, Buckle, Others), Sole Material (Polyurethane, EVA, Rubber, Leather, Others), Outer Material (Fabric, Mesh, Synthetic, Leather, Others), Consumer Orientation (Men, Women), Sales Channel (Multi-brand Stores, Independent Small Stores, Online Retailers, Others) & Region – Forecast to 2022-2032
