Basis of country in North America, U.S. was the largest market for tennis shoes in 2021, in terms of revenue generation.
WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, March 19, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “tennis shoes market by playing surface, user, and distribution channel: global opportunity analysis and industry forecast, 2021–2028,”. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. 𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐭𝐞𝐧𝐧𝐢𝐬 𝐬𝐡𝐨𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟐.𝟓 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟏, 𝐚𝐧𝐝 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟑.𝟔 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟑.𝟑% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟐 𝐭𝐨 𝟐𝟎𝟑𝟏.
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Tennis shoes are type of athletic footwear used specially for playing tennis. It is different from other footwear as the design and qualities needed in a tennis shoe are different from other athletic shoes. Moreover, tennis shoes feature more strength and durability so that it allows players in quick side wise, forward, and backward movement while playing tennis. Tennis is gaining popularity across the globe due to events such as Grand Slams and French Open. Moreover, growth in fan base of famous tennis players such as Pete Sampras, Bianca Andreescu, and Rafael Osuna propels tennis participation rate globally and consequently fuels demand for the tennis shoes.
Increase in preference for tennis as a lifetime sport, rise in initiatives for improving tennis participation, and rapid launch of innovative products drive the global tennis shoes market. On the contrary, popularity of eSports among youth and availability of counterfeit products hinder the market growth. However, emergence of smart technology in shoes would open new opportunities in the coming years.
The drive to enhance tennis participation rates is a key factor propelling the expansion of the global tennis shoes market. Additionally, emerging markets like Asia-Pacific and Latin America present enticing growth prospects for leading players in the global tennis shoes market. These regions witness a growing tennis-playing population alongside the increasing popularity of the sport. The International Tennis Federation reports that Asia-Pacific boasts the highest number of tennis players. Moreover, the surge in disposable income, the pursuit of a healthier lifestyle, and the demand for comfortable tennis footwear contribute to the rising demand for tennis shoes in emerging markets.
Furthermore, senior executives (CXOs) emphasize a significant threat to the tennis shoes market posed by the rapidly growing popularity of eSports among the global youth. Digital games such as Counter-Strike, Overwatch, and Dota 2 dominate the eSports landscape, attracting individuals who pursue eSports as a career, hobby, or form of entertainment. This burgeoning trend in eSports is expected to impede and significantly reduce youth participation in outdoor sports like tennis. Consequently, the escalating popularity of eSports is anticipated to have an adverse impact on the growth of the tennis shoes market.
By distribution channel, the supermarket/hypermarket segment was the prominent segment, owing to high popularity and wide scale penetration of supermarket/hypermarket in leading tennis shoes markets such as North America and Europe. The supermarket/hypermarket segment is followed by specialty stores and e-commerce segments. Wide scale adoption of internet, online shopping platforms, and changes in consumer buying behavior due to COVID-19 is expected boost the e-commerce segment.
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By type, the hard-court tennis shoes segment held the largest share in 2020, contributing to nearly half of the global tennis shoes market. Moreover, the segment is expected to manifest the highest CAGR of 2.6% during the forecast period, due to high popularity and preference of hard courts because of its affordability.
North America dominated the market, garnering around 37.4% of the total tennis shoes market share, followed by Europe. North America and Europe are characterized by high disposable income and elevated participation in tennis & demand of tennis shoes, which makes them leading markets for tennis shoes. However, Asia-Pacific is expected to show promising growth rate due to the presence of highest tennis playing population in this region. According to the International Tennis Federation (ITF), Asia contributed for around 37.9% or over 33 million of the global tennis playing population in 2019. LAMEA is anticipated to exhibit slow growth due to unawareness about different tennis shoes and low participation in tennis.
The key players profiled in this report include ADIDAS Group, Anta Sports Products Limited, ASICS Corporation, Babolat, FILA Holdings Corp., Lotto Sport Italia S.p.A., New Balance, Inc., Nike, Inc., PUMA SE, and Xtep International Holdings Limited.
𝐄𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐆𝐫𝐨𝐰𝐭𝐡 𝐏𝐫𝐨𝐬𝐩𝐞𝐜𝐭𝐬 𝐚𝐧𝐝 𝐃𝐞𝐦𝐚𝐧𝐝 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐓𝐞𝐧𝐧𝐢𝐬 𝐒𝐡𝐨𝐞𝐬:
𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐏𝐫𝐞𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬: Understanding consumer preferences is crucial for predicting demand trends. Factors such as comfort, performance, durability, style, and brand reputation play significant roles in influencing purchasing decisions. Market research, surveys, and analysis of consumer reviews can help identify evolving preferences and expectations.
𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧𝐬: Innovations in materials, design, and manufacturing processes continually shape the tennis shoe market. Lightweight materials, advanced cushioning technologies, breathable fabrics, and customizable features are some examples of innovations that attract consumers. Companies investing in research and development to improve performance and enhance user experience often gain a competitive edge.
𝐅𝐚𝐬𝐡𝐢𝐨𝐧 𝐚𝐧𝐝 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 𝐓𝐫𝐞𝐧𝐝𝐬: Tennis shoes have evolved beyond sports gear to become fashion statements and lifestyle products. Collaboration between sports brands and fashion designers, celebrity endorsements, and limited-edition releases contribute to the fusion of sports and fashion. Tracking fashion trends and cultural influences helps anticipate shifts in consumer demand.
𝐄-𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐚𝐧𝐝 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭𝐢𝐧𝐠: The rise of e-commerce platforms has transformed the retail landscape, making tennis shoes more accessible to consumers worldwide. Digital marketing strategies, including social media campaigns, influencer partnerships, and personalized advertising, are essential for reaching target audiences and driving sales. Online analytics provide valuable insights into consumer behavior and preferences.
𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐚𝐧𝐝 𝐄𝐭𝐡𝐢𝐜𝐚𝐥 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞𝐬: Increasing awareness of environmental issues and ethical concerns has led consumers to prioritize sustainable and ethically produced products. Tennis shoe manufacturers are increasingly adopting eco-friendly materials, reducing waste, and implementing ethical labor practices to appeal to environmentally conscious consumers.
𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐚𝐧𝐝 𝐄𝐭𝐡𝐢𝐜𝐚𝐥 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞𝐬: Demographic factors such as age, gender, income level, and geographic location influence demand for tennis shoes. Emerging markets with growing middle-class populations, such as China and India, present significant opportunities for market expansion. Understanding regional preferences and cultural differences is essential for targeting diverse consumer segments effectively.
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𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬:
○ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the tennis shoes market analysis from 2021 to 2031 to identify the prevailing tennis shoes market opportunities.
○ The market research is offered along with information related to key drivers, restraints, and tennis shoes market opportunity.
○ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
○ In-depth analysis of the tennis shoes market segmentation assists to determine the prevailing market opportunities.
○ Major countries in each region are mapped according to their revenue contribution to the global tennis shoes industry.
○ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
○ The report includes the analysis of the regional as well as global tennis shoes market trends, key players, market segments, application areas, and market growth strategies.
𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐭𝐨 𝐛𝐮𝐲 𝐓𝐞𝐧𝐧𝐢𝐬 𝐒𝐡𝐨𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:
○ Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
○ Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
○ Classify potential new clients or partners in the target demographic.
○ Develop tactical initiatives by understanding the focus areas of leading companies.
○ Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
○ Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
○ Report will be updated with the latest data and delivered to you within 2-4 working days of order.
○ Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
○ Create regional and country strategies on the basis of local data and analysis.
𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 "𝐀𝐌𝐑 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
○ UK Tennis Shoes Market Opportunity Analysis and Industry Forecast, 2021-2031
○ U.S. Tennis Shoes Market Opportunity Analysis and Industry Forecast, 2021-2031
○ Canada Tennis Shoes Market Size, Share, Opportunity Analysis
https://www.alliedmarketresearch.com/canada-tennis-shoes-market-A98208
○ Mexico Tennis Shoes Market Size, Growth, Opportunity
https://www.alliedmarketresearch.com/mexico-tennis-shoes-market-A98207
○ Europe Tennis Shoes Market Size, Trends, Growth Opportunity
https://www.alliedmarketresearch.com/europe-tennis-shoes-market-A98209
○ Germany Tennis Shoes Market Size, Analysis, Growth Opportunity
https://www.alliedmarketresearch.com/germany-tennis-shoes-market-A98210
○ France Tennis Shoes Market Size, Demands, Opportunity Analysis
https://www.alliedmarketresearch.com/france-tennis-shoes-market-A98212
○ Italy Tennis Shoes Market Size, Analysis, Growth Opportunity
https://www.alliedmarketresearch.com/italy-tennis-shoes-market-A98213
○ Russia Tennis Shoes Market Size, Share, Growth Opportunity
https://www.alliedmarketresearch.com/russia-tennis-shoes-market-A98214
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