Between 2023 and 2033, the refurbished running shoes market is anticipated to thrive at a steady CAGR of 8.5%. By 2033, the market is expected to hold a market share of US$ 838.9 million, while it is projected to reach a value of US$ 371.0 million in 2023.
The majority of refurbished goods include verified and ensured alternatives. These items are certified when they successfully complete the quality inspection procedure and seem and perform similarly to new products.
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- 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.
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.
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Key Players Profiled in the Global Market
- Reebok
- Nike, Inc.
- PUMA SE
- Greensole. Inc.
- Etsy
- Skechers India
- RELAY
- Adidas AG
- Chuck Taylor All Stars
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
- PUMA SE has introduced its One 5.1 FG/AG refurbished footfall boots with lightweight and reactive rapid sprint outsole along with the K-Leather & evoKNIT.
- Adidas AG has launched its Copa Sense.1 AG refurbished football boots with anatomical foam padding on heel and molded sockliner.
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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
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- The Middle East and Africa
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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