According to newly released data by Future Market Insights (FMI), the Tennis Shoes Market is estimated at US$ 157.4 million in 2022 and is projected to reach US$ 244.5 million by 2032, with a CAGR of 4.5% from 2022 to 2032.
Tennis shoes are footwear designed with a flexible synthetic or rubber sole, tailored for different types of courts. For instance, hard courts like concrete demand durable shoes with extra grip on the sole, making them suitable for various surfaces. Primarily intended for sports, tennis shoes offer sufficient traction to enhance athletes’ performance.
Moreover, the key players are adopting marketing strategies in a view to collaborate with tennis players and celebrities to enhance their reach in the market and to increase the acceptability of their brand among consumers. The rise in the number of novel designs and patterns that fulfils the demand for tennis shoes enthusiasts worldwide will facilitate the development of tennis shoes market globally.
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Key Takeaways from the Tennis Shoes Market Study
- In terms of sales channel, offline retailing is likely to dominate over the forecast period. Whereas, consumer tastes are evolving, and instead of shopping offline, customers are turning to online retailing, which is prompting manufacturers to expand their online presence in the market. One of the major factors driving the growth of the online sales channel is the availability of a wide range of tennis shoes online.
- Tennis has numerous health benefits, including better aerobic fitness, muscular fitness, anaerobic endurance, and flexibility. Tennis competitions are being used to promote the sport in schools and universities. All of these things increase the population’s need for tennis shoes.
- On a regional basis, North America dominates the global the tennis shoes market and is likely to continue to do so throughout the forecast period. The market’s supremacy is partly attributed to customers’ extensive product awareness and the region’s growing tennis playing population. North America is distinguished by a high level of disposable money, a growing health consciousness, the enormous popularity of tennis, and a high demand for high-quality items.
“The competitors in the global tennis shoes market have used various development strategies to improve their tennis shoes market share, capitalise on market opportunities, and boost profitability, which will continue to benefit the market.” Says an FMI Analyst.
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Who is winning?
Leading players operating in the Tennis Shoes market are
- Adidas Group
- Nike Inc.
- New Balance
- ASICS
- PUMA SE
- Under Armour, Inc.
- Li Ning Company Ltd.
- ECCO
- China Dongxiang (Group) Co., Ltd.
- 361 Degrees International Limited.
- Vans
- Converse
Tennis Shoes Market by Category
By Playing Surface
- Clay Court
- Hard Court
- Grass Court
By Consumer Orientation
- Men
- Women
By Sales Channel
- Hypermarket/Supermarket
- Wholesalers/Distributors
- Specialty Stores
- Multi-brand Stores
- Independent Small Stores
- Online Retailers
- Other Sales Channel
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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