The global basketball shoe market is anticipated to grow at a CAGR of 2.3 % during the forecast period (2022-2028). The global basketball shoe market is growing due to the increasing demand for basketball among the population. The increasing popularity of basketball and considering it as a part of the sport is also boosting the growth of the market. The increasing number of basketball participants globally is directly boosting the demand for basketball shoes and is boosting the growth of the market.
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The increasing number of national and international platforms provided for basketball such as Olympic Games, World Championships, European Championships, Four Continents Championships, Grand Prix, Challenger Series, World Team Trophy, and Universiade has provided a great opportunity to the major manufacturer to build their brand equity by providing sponsorships and endorsements to well-known players and clubs, to gain a competitive advantage over their competitors. Additionally, increasing government initiatives in many countries, meant to improve sports participation, are also anticipated to increase the demand for the basketball shoe market during the forecast period.
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Some major players in the market include Nike, Inc., adidas, Amer Sports, Rawlings Sporting Goods, Freewill Sports Pvt. Ltd., and Fanatics Retail Group North, LLC among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance,
- In March 2021, Nike, Inc. announced the launch of a new basketball footwear system focused on specific movements.
- In February 2019, NBA Media Ventures, LLC and PUMA announced a new multi-year partnership that will make the international sports brand an official marketing partner of the NBA for the production of basketball shoes.
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Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product
- By Form
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Nike, Inc., adidas, Amer Sports, Rawlings Sporting Goods, Freewill Sports Pvt. Ltd., Fanatics Retail Group North, LLC and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Basketball Shoes Market Report by Segment
By Product
- High-Tops Basketball Shoes
- Mid-Tops Basketball Shoes
- Low-Tops Basketball Shoes
By Form
- Stick
- Liquid
- Palette
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