US Athletic footwear market projected to reach $10.5 billion by 2021
Demand for athletic footwear is showing no signs of slowing down in the United States. According to a recent report, demand for sports shoes could reach $10.5 billion by 2021.
A report by Freedonia Focus Reports cites an increased desire for comfort as well as the ongoing athleisure trend in increasing demand for the athletic footwear market. Trends have also allowed for relaxed workplace apparel in the U.S., increasing the need for stylish, but comfortable and casual shoes.
Demand has also increased for athletic shoes for purposes other than running. More consumers are purchasing lightweight running shoes for everyday use. More brands have designed high-performance shoes with lightweight materials for casual use.
The report comes even after 2016 saw slower growth for the footwear business in the U.S., compared to past years. The NPD Group released a report that found the U.S. footwear segment grew by just 3 percent in 2016, compared to an average of 4 percent in past years.
Popular athletic shoe brand Adidas has seen surges in sales in its most recent quarter, particularly thanks to it growing e-commerce. Its competitor Nike has also expanded its presence with the launch of new designs and collaborations. It reported lower revenues than expected in March however, losing ground to athletic brands like Adidas and Under Armour.
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