At 7.68% CAGR, the trail running shoe market is expected to reach $ 5.14 billion by 2027, according to Brandessence Market Research
LONDON, November 1, 2021 / PRNewswire / – The global demand for the trail running shoe market, in terms of revenue, was $ 3.07 billion in 2020 and should reach $ 5.14 billion in 2027, with a CAGR of 7.68% from 2021 to 2027. The global market for trail running shoes is expected to grow at a significant rate due to the number of driving factors.
The increased need for spiritual connection with nature has led the global hiker population to over 120 million in 2020. Spiritual connection with nature remains essential among non-athletic hikers. This is a key demographic for players in the global trail running shoes market.
Running promises to reach new heights of popularity, thanks to an increased need for rejuvenation in a busy life and a growing awareness of health. Increased competition among manufacturers of trail running shoes has led to increased diversity among products in recent years. Some key varieties in the market include heavy soles offering huge protection, or light varieties offering huge speeds, reduced weight, increased protection like waterproofing capabilities, and many more. The growing popularity of trail running among city dwellers and the increased promise of premium quality products for the sport of trail running remain the primary drivers for the growth of the trail running shoe market.
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Trail Running Shoes Market Trends
Increased product diversification remains the key to the growth of the trail running shoes market. Consumers are increasingly aware of purchasing different shoes for different occasions, with an emphasis on injury prevention and preparation for the occasion. For example, according to data from Footwear Distributors and Retailers of America (FDRA), while 30% of consumers look at the price of the shoe, when purchasing sports equipment, 37% opt for the type of shoe , depending on their need for a special occasion. The limited advertising budget for trail shoes and its high prices for quality offers remain a brake on the growth of the market. However, increased product offerings and increased competition in the market are likely to increase the reach of these products to new customers in the near future.
Trail running has always remained an important sport around the world, thanks to events such as cross country competitions, marathons and other running events. While events like marathons are known for their long distances, cross country competitions present ideal conditions for the use of trail running shoes. These competitions include running in hills, in harsh atmospheres like rain and snow, and are ideal for shoes designed for test conditions. Besides cross-country treks, marathons, new forms of adventure activities like fastpacking, tumbling, and mountain running also continue to increase the popularity of adventure activities.
Trail running shoe market
Men continue to dominate the adoption of trail running shoes around the world. According to Brandessence, men’s trail running shoes occupied over 64.20% of the market share in 2020. The increased drive for rejuvenation and the ideal natural setting for social distancing are expected to drive the growth of adventure sports like cycling. hike in the near future.
The laid back nature of hikers for trail running shoes with the largest purchases coming from minimalist designs also remains a key feature of the trail running shoe market. In 2020, 36.67% of consumers purchased minimalist shoes, with casual hikers staying away from high-priced, quality products.
High quality trail running shoes require special attention to reach customers. These suffer largely from a lack of awareness, despite the promise of dramatic improvements in hiking experiences for the majority. Although the price is also out of reach for many, the lack of experience in wearing these shoes remains a major obstacle for the consumer who decides on its long-term use. Despite having a great product, the major players continue to fall behind in advertising support for maximalist shoes.
The running shoe market continues to grow, despite challenges such as the Covid-19 pandemic. In 2020, the sale of shoes in general has dropped significantly, due to major global lockdowns and supply issues. For example, in China, sportswear giant Adidas reported a sales decline of US $ 1.13 billion in 2020. The decline in the first quarter was in line with from China permanent challenge with a shortage of raw materials and other inputs. Disruption has remained a staple routine in the covid-19 pandemic, and increased vaccination campaigns, and global e-commerce promises to bring back growth during the forecast period. Large companies like Adidas are investing heavily in cloud adoption to meet and reach more consumers online in the near future. The athletic running shoe market has remained the most stable segment of the trail running shoe market, despite the woes of covid-19.
Market segmentation –
- Barefoot shoes
- Low profile shoes
- Traditional shoes
- Maximalist shoes
- Men’s trail running shoes
- Women’s trail running shoes
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Trail Running Shoes Market: Regional Analysis
The Trail Running Shoes market report is segmented into key regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the North America is expected to hold the highest share of total income, thanks to the increased adoption of nature adventures. In addition, the increased demand from American consumers to use different products for each occasion also promises a major increase in market growth. Growing disposable income and increasing adventure-seeking attitude among Asian millennials also promise noticeable growth for the trail running shoe market.
Trail Running Shoes Market: Competitive Analysis
The global trail running shoes market is a fragmented and competitive landscape. Some key players on the world stage are Salomon, Brooks, New Balance, Asics, The North Face, Deckers, Saucony, Montrail, The North Face, LOWA, Tecnica, Montrail, Nike, Adidas, Scarpa, Vasque and others.
Recent notable developments include the launch of new products by Merrell. The company announced a hybrid offering in the online market with the high consumption of casual outdoor users. The product range is intended to be trail-ready, athletic and elegant.
British brand inov-8 recently announced the âfirst graphene-based shoesâ. The company claimed that the design innovation came from its collaboration with research institutes, and that an atom in the new shoe is 200 times stronger than theft. Graphene, often touted as the miracle material in many manufacturing industries, has deployed a material that can promise lighter, stronger footwear, a critical need for both casual and regular hikers in the trail running shoe market.
The new footwear offering in the market also continues to incorporate new innovations such as thermal insulation for cold conditions and waterproof materials for wet conditions. Increasing weight reduction and increasing features like waterproofing remain essential to justify the high price of quality products in the trail running shoe market.
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