The Refurbished Running Shoes Market is anticipated to expand its roots at a steady CAGR of 8.5% between 2023 and 2033. The market is expected to have a market share of US$ 838.9 million by 2033 while it is likely to be valued at US$ 371.0 million in 2023
- The running shoe giants are focusing on reducing waste and carbon footprints. Hence, the brands are focusing on refurbished and reusable techniques to lead in the energy transition race. Furthermore, affordable pricing is also attracting a large base of consumers.
- The brands introducing different levels of refurbished shoes with the presence of quality checkers and analysts are flourishing the market growth. Brands like Nike and Adidas are introducing refurbished and recycled platforms for product display. These products help the brands reduce waste while customers get these shoes in better condition.
- Refurbished shoes that look like a new pair of shoes at a reasonable price also attract end users. The exciting discounts and bundle value penetrates the market space. Therefore, comparatively new shoes are in high demand.
- The online retail stores, options of no-cost EMI, demo choices, and freebies propel the market growth. Many people getting into sports and athletic activities are also garnering the sales of refurbished running shoes.
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Key Takeaways
- The United States market leads the refurbished running shoes market in terms of market share in North America. The United States region held a market share of 28.6% in 2022. The growth in this region is attributed to the health-conscious generation, and brands launching recycled shoe events. North America’s market held a share of 32.4% in 2022.
- Germany’s market is another important market in the Europe region. The market held a market share of 5.1% in 2022. The growth is attributed to aware citizens; new product launches focusing on climate change and reduced footwear waste. Europe’s market held a market share of 19.4% in 2022.
- India’s analog-to-digital converter market thrives at a CAGR of 11.3% between 2023 and 2033. The growth is attributed to higher economic activities, new brands entering the space, and popular trends.
- China’s market also thrives at a CAGR of 10.4% during the forecast period. The flourishing growth is caused by third-party retailers, startups working on reducing waste, etc.
- Based on the product type, the over pronator segment leads the market as it held a significant share of 43.1% in 2022.
- Based on the distribution channel, the online segment leads the market as it held a vital market share of 18.4% in 2022.
Competitive Landscape
The key vendors focus on delivering products through different channels while giving end users various options to choose from. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments
- Nike has introduced refurbished shoes with three key categories such as Like New, Gently Worn, and Slightly Imperfect. While the like-new category holds perfect and near-perfect condition, the slightly imperfect category has no signs of wear but is slightly imperfect.
- Reebok has introduced the Nano X1 shoes along with the Reebok Nanoflex TR shoes in refurbished condition with advanced features.
Key Segments Covered
By Shoe Type:
- Over Pronator
- Neutral Pronator
- Supinator
By Application:
- Male
- Female
- Unisex
By Distribution Channel:
- Online
- Offline
- Others
Key Regions Covered:
- North America
- The United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- The United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- The Middle East and Africa (MEA)
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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