As per newly released data by Future Market Insights (FMI), the global skateboard footwear & apparel market size is expected to reach US$ 3,095.5 million in 2023 and US$ 4,546.8 million by 2033. Over the projection period from 2023 to 2033, global sales of skateboard footwear & apparel are likely to soar at ~3.9% CAGR.
The skateboard footwear & apparel market is predicted to experience tremendous growth during the forecast period. This is attributed to several reasons which include improvement in participation of skateboarding events and competitions globally as well as the growth of skating parks
High adoption of skateboarding as a leisure activity has largely contributed to the rapid growth rate in this industry. Given the popularity of skateboarding and its recognition as a sport, there has been an increase in demand for specialized footwear and apparel tailored to cater to skaters’ needs.
There is a fast growing skateboard footwear & apparel industry around the world. Various factors including the need for innovating in terms of technology and materials used to enhance the performance and functionality of skateboard footwear & apparel have contributed significantly to development under this sector.
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Leading skateboard footwear & apparel companies are offering a wide range of products to fulfil end user requirements. This is positively impacting the overall market development.
Key Takeaways from the Skateboard Footwear & Apparel Market Study
- The worldwide skateboard footwear & apparel industry is projected to exceed a valuation of US$ 4,546.8 million by 2033.
- By product type, skate shoes segment is expected to account for a significant market share of 1% in 2023.
- Based on consumer orientation, men segment is likely to hold a 2% share of the market in 2023.
- By distribution channel, online retailers segment is expected to account for 5% market share in 2033.
- The United States skateboard footwear & apparel industry is forecast to progress at 9% during the assessment period.
- Demand for skateboard footwear & apparel across the United Kingdom is likely to rise at a steady pace through 2033.
- China is expected to emerge as a highly lucrative market for skateboard footwear & apparel during the projection period.
“Increasing popularity of skateboarding as a recreational activity across the world is driving the worldwide skateboard footwear & apparel industry. The rising participation of female consumer groups in skateboarding is likely to further boost sales in the target market through 2033. To gain profits, leading players are focusing on expanding their product portfolios by launching new products.” says an FMI analyst.
Who is Winning?
Leading skateboard footwear & apparel manufacturers profiled in the report include VF Corporation, Nike Inc., Adidas AG, Globe International, New Balance, DC Shoes, Sole Technology Inc., and Lakai Limited among others, and for skateboard apparel are Volcom, LLC, Element, NHS Inc., High Speed Productions Inc., CCS, Tactics, HUF Worldwide, Diamond Supply Co., Primitive Skateboarding, and Stüssy among others.
These prominent players are constantly launching new products to meet the demand of end users. They are also leveraging strategies such as mergers, partnerships, acquisitions, and collaborations to gain a competitive edge in the market. For instance,
In 2023, Santa Cruz partnered with the skateboarding brand Blind to expand its portfolio as well as presence across lucrative markets.
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Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the skateboard footwear & apparel industry, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study divulges compelling insights on the skateboard footwear & apparel market based on product type (skate shoes, t-shirts & tops, hoodies & sweatshirts, and bottoms), consumer orientation (men, women, unisex, and kids), distribution channel (direct sales/exclusive stores, specialty stores, sports merchandise, departmental stores, online retailers, other sales channel) and countries.
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The consumer product team at Future Market Insights (FMI) provides all the necessary insights and consulting analysis to fulfil the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the consumer product industry, the team is happy to help with every business intelligence research and consulting requirement.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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