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The key drivers that are contributing to the growth of the sneakers market size include the improving peopleu2019s lifestyle and the growing disposable income, which is leading to an increase in the need for more comfortable and innovative footwear.
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The primary objective of the Sneakers market report by GMI Research is to help the users understand the market scenario in terms of its definition, segmentation, drivers, opportunities, market trends, and the challenges that the market is facing. This report focuses on the Sneakers market, especially in North America, Europe, Asia-Pacific, and the rest of the world.
Key Drivers of the Sneakers Market The key drivers that are contributing to the growth of the sneakers market size include the improving people’s lifestyle and the growing disposable income, which is leading to an increase in the need for more comfortable and innovative footwear. Moreover, the rising inclination towards trendy, branded, and high-fashion footwear and the wide availability of customized and innovative features in the footwear will further surge the growth of the sneakers market share in terms of revenue. In addition to this, the increasing population, along with the growing concerns related to health and wellness, is promoting people to indulge in different fitness activities. This factor, along with the growing inclination of the young population towards fitness and sports, are further strengthening the market’s demand.
The proliferation of e-commerce platforms, the changing preference towards custom designs, and rapid fashion trends are certain factors that are responsible for the growth of the sneakers market size. The advent of 3D printing on the sneakers, growing penetration of the internet, and smartphones are resulting in an increase in the preference for the online medium as it offers more flexibility to the users to choose. The combination of these factors will have a positive impact on the market’s growth. On the other edge of the spectrum, the easy availability of copied or fake products that are manufactured by local manufacturers is a major factor that will hamper the market’s demand. Moreover, the ongoing COVID-19 pandemic is negatively impacting the growth of the market. The temporary shutdown of factories and the delay in the new collection release are adversely impacting the market’s growth. However, the market is projected to bounce back in 2021, while growing at a faster rate from 2022 onwards.
About GMI Research GMI Research is a market research and consulting firm which provides bespoke industry & market research to help businesses in making the toughest business decision. We know the significance of accurate data; that’s why our analyst uses a tailored methodology to study every market in detail because one size doesn’t fit all. We not only cover the traditional well- established market but also focuses on the niche market and markets in the emerging economies, where getting data and information is a challenge. This factor makes us pioneer in emerging market research space. Our syndicate reports cover multiple industries across various regions and countries. Our in-depth market reports help propel your business with all the data, strategic inputs, and competitive intelligence to move ahead even in the most uncertain times. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research look forward to helping businesses stay ahead of the curve.
