New York, October 13, 2023, The premium shoe market is on the rise, with an estimated growth of $12.95 billion from 2022 to 2027, presenting a Compound Annual Growth Rate (CAGR) of 7.38%.
Key Players in the Premium Shoe Market
Several global and regional companies are contributing to this growth, including well known brands like Adidas AG, ASICS Corp., Avia, and more.
Top Premium Shoe Brands
- Adidas AG: Offering stylish sneakers with categories like cloud white and cloud blue.
- ASICS Corp.: Providing premium shoes such as Gel Run Adapt, Gel Ease, Gel Kayano Lite 3, Gel Kinsei Blast Le2, and Gel Galaxy 8b.
- Avia: Featuring premium shoes like the Avia Legacy 880, Avia Legacy 855, Avia Legacy 816, and women’s Avi Anchor.
By Geography The market is categorized into Europe, North America, APAC, South America, the Middle East and Africa. APAC holds the largest market share, with Europe contributing significantly, particularly in countries like the UK, Germany, France, Russia, and Spain.
Market Drivers and Trends
- mpactful Driver: Celebrity endorsements bolster brand identity.
- Key Trend: Customization drives product demand.
- Major Challenge: Rising raw material costs.
By Product: The sports shoes segment is dominant, catering to consumers engaged in training, running, and gym workouts.
- Skating Shoes Market: Expected to grow at a CAGR of 3.56% between 2022 and 2027, increasing by USD 1,023.02 million.
- Trail Running Shoes Market: Anticipated to grow at a CAGR of 7.19% between 2022 and 2027, with a forecasted increase of USD 2,811.36 million.
Scope of the Premium Shoe Market Report
- Historic Period: 2017 2021
- Growth Momentum: Accelerating at a CAGR of 7.38%
- 2022-2023 YoY Growth: 7.18%
- Regional Analysis: Europe, North America, APAC, South America, and Middle East and Africa
- Key Countries: US, China, France, Germany, and Italy