ID: MRFR/CR/8155-CR | May 2020 | Region: Global | 111 pages
Global Cleats Market is projected to register a CAGR of 4.43% and reach USD 29,537.6 Million by 2026. Cleats are shoes that are worn when playing soccer, rugby, and football, among other sports. Different cuts of boot and studs are available depending on the type of sports, surface, and the wearer’s position or role in the game. The primary drivers of the growth of the global Cleats market are the rising popularity of sports activities such as soccer, rugby, and cricket along with increasing per capita disposable incomes. However, the high cost associated with cleats is set to curb the growth of the cleats industry globally.
Global Cleats Market is expected to register significant growth during the forecast period. The rising popularity of sports such as soccer, American football, and rugby along with increasing participants is anticipated to boost the global cleats market. The rising popularity of soccer can be attributed to the fact that, according to data published by The Federation Internationale de Football Association (FIFA), the number of registered soccer players in 2016 increased by more than 240 million. Additionally, sport such as cricket is becoming popular worldwide. The advent of T20 leagues across the world is further anticipated to create lucrative growth opportunities for cricket popularity in upcoming years.
Additionally, rising disposable income and growth of the organized retail sector is anticipated to boost the global cleats market during the review period. The rising per capita disposable income is expected to boost consumer buying power and increases their willingness to spend on cleats. Asia-Pacific being the engine of global growth and exhibits excellent growth prospects for the global cleats market. Healthy growth and the rapidly growing per capita income levels are expected to continue to boost the demand for cleats. The increasing middle-class population in emerging economies in Asia-Pacific are increasing customer expectations, resulting in the resetting of strategic imperatives for industrial manufacturers in the region.
Global Cleats Market Revenue, by Packaged, Sports Type, 2026 (Million USD)
Sources: MRFR Analysis
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.
Global Cleats Market Share, by Region, 2019 (%)
Sources: MRFR 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. Within Europe, the UK, Germany, and Spain are anticipated to dominate the cleats market during the review period. The North America cleats market accounted for the second-largest market share in 2019 with the US being the major market for cleats. However, Asia-Pacific is projected to register the highest CAGR of 4.94% during the forecast period. The rising popularity of sports such as soccer, cricket, and many more, increasing disposable income along with the development of the organized retail sector is anticipated to boost the cleats market in the Asia-Pacific region during the forecast period.
Prominent players in the Global Cleats Market include 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).
Players operating in the global cleats market are focusing on strengthening their geographic footprint by expansions and launching innovative products.
Global Cleats Market, by Ground Type
Global Cleats Market, by Sports Type
Global Cleats Market, by Distribution Channel
Global Cleats Market, by Region
|Market Size||USD 29,537.6 Million (2026)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Ground Type, Sports Type, Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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).|
|Key Market Opportunities||The Rising Popularity of Sports Activities|
|Key Market Drivers||Healthy Growth and The Rapidly Growing Per Capita Income Levels|
Frequently Asked Questions (FAQ) :
Cleats market can expand at 4.43% CAGR by 2026.
By 2026, the Cleats market value can reach USD 29,537.6Mn.
Li Ning Sports Goods Co., Ltd. (China), New Balance (US), and ASICS (Japan) are some reputed names in the Cleats market.
The increase in sports activities can promote the Cleats market.
High cost can limit the Cleats market expansion.