Cleats Market Overview Report by 2020-2026: Advance Study Focusing on Market Analysis, Sky Rocketing Growth and latest trends
Research Reports
Jan 02, 2021
Market Highlights
Global Cleats Market is projected to be valued at USD 29,537.6 Million by 2026, expanding at a CAGR of 4.43% during the forecast period. Increasing popularity of sports such as soccer and rugby, along with the increasing disposable income, are the key drivers boosting the growth of the global cleats market. However, the high cost of the product is anticipated to restrict the growth of the global market. Europe accounted for largest share of the cleats market in 2019 owing to the dominance of soccer sport. Apart from soccer, rugby and cricket are some other sports that are quite popular in Europe and is contributing towards the dominance of cleats market in the region. UK, Germany and Spain are among the most lucrative markets for cleats in the region due to large number of soccer, rugby, cricket participants in the region. The cleats market in the region is anticipated to remain dominant during the review period. North America constituted the second-largest market for cleats across the globe. The rising number of participation rates in American football and basketball have been a major factor in boosting the growth of the cleats market in the region.
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Segmental Analysis
The global cleats market has been segmented based on ground type, sports type, distribution channel, and region.
By ground type, the market has been segmented into firm/natural grass, soft/muddy grass, artificial grass, multi-ground, and artificial turf. Firm/natural grass dominated the market with a market share of 38.58% in 2019. According to sports type, the market is segmented into soccer, rugby, American football, cricket, and others. Soccer sport dominated the cleats market in 2019 with a market share of 63.52% in 2019 due to the dominance of participants compared to other sports across the globe. According to distribution channel, the global cleats market is segmented into store-based and non-store-based channels. The store-based channel is further bifurcated into supermarkets & hypermarkets, specialty stores, and others. Store-based channels dominate the sales of cleats worldwide. The availability of various retail outlets for the sale of cleats through supermarkets & hypermarkets and specialty stores has resulted in the dominance of store-based channels. Store-based channels are anticipated to remain dominant during the review period.
Regional Analysis
Geographically, the global cleats market has been categorized as North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Europe dominated the market, accounting for the largest share in 2019. The North America cleats market accounted for the second-largest market share in 2019. However, Asia-Pacific is projected to register the highest CAGR of 4.94% during the forecast period.
Key Findings of the Study
- The global cleats market is projected to register a growth rate of 4.43% from 2020 to 2026. The increasing popularity of sports such as soccer, rugby, cricket along with a rising number of sports participants are the major factors attributing towards the growth of cleats market worldwide. Apart from it, increasing disposable income along with the growth of the organized retail sector is anticipated to boost the cleats market across the world.
- The soccer segment is estimated to remain prominent until 2026 with a market share of 63.86%. Whereas, the cricket sports segment is anticipated to register the highest growth rate of 4.92% during the forecast period.
Key Players
Market Research Future recognizes NIKE, Inc. (US), Adidas AG (Germany), Under Armour, Inc. (US), Puma SE (Germany), Fila Holdings Corp. (South Korea), Iconix Brand Group, Inc. (US), New Balance (US), ASICS (Japan), Li Ning Sports Goods Co., Ltd. (China), and Mizuno Corporation (Japan) as the Key Players in the Global Cleats Market.
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