LONDON, November 1, 2021 /PRNewswire/ — Global demand for trail running shoes marketin terms of income, was worth $3.07 billion in 2020 and is expected to reach $5.14 billion in 2027, growing at a CAGR of 7.68% from 2021 to 2027. The global trail running shoes market is predicted to grow at a significant rate owing to the number of driving factors.
The increased need for spiritual connection with nature has driven the global population of hikers to over 120 million in 2020. Spiritual connection with nature remains essential among non-athletic hikers. This is a key demographic for players in the global trail running shoes market.
Trail running promises to reach new heights of popularity, thanks to an increased need for rejuvenation in a busy life and a growing health awareness. Increased competition among trail running shoe manufacturers has led to greater product diversity in recent years. Some key varieties on the market include heavy soles offering huge protection, or lightweight varieties offering huge speeds, reduced weight, increased protection like waterproofing capabilities, and many more. The growing popularity of trail running among city dwellers and the increasing promise of premium quality products for the sport of trail running remain the major drivers for the growth of the trail running shoes market.
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Trail Running Shoes Market Trends
Increased product diversification remains key to the growth of the trail running shoes market. Consumers are increasingly aware of buying different shoes for different occasions, with an emphasis on injury prevention and preparation for the occasion. For example, according to data from the Footwear Distributors and Retailers of America (FDRA), while 30% of consumers look at the price of the shoe, when buying sports equipment, 37% opt for the type of shoe , depending on their need for a special occasion. The limited advertising budget for trail running shoes and its high prices for quality offerings remain a drag on market growth. However, increasing product offerings and increased market competition are likely to increase the reach of these products to new customers in the near future.
Running has always remained an important sport around the world, thanks to events such as cross-country competitions, marathons and other running events. While events like marathons are known for their long distances, cross-country competitions present ideal conditions for the use of trail running shoes. These competitions include running through hills, through harsh atmosphere like rain and snow, and are ideal for shoes designed for testing conditions. Apart from cross-country treks, marathons, new forms of adventure activities like fastpacking, tumbling, and mountain running also continue to increase the popularity of adventure activities.
Trail Running Shoes Market
Men continue to dominate the adoption of trail running shoes globally. According to Brandessence, men’s trail running shoes occupied more than 64.20% market share in 2020. Increased desire for rejuvenation and ideal natural surroundings for social distancing are likely to drive the growth of adventure sports like hiking in the near future.
The laid-back nature of hikers for trail running shoes, with the biggest purchases coming from minimalist designs, also remains a key feature of the trail running shoe market. In 2020, 36.67% of consumers bought minimalist shoes, with casual hikers staying away from high-priced quality products.
High-quality trail running shoes require special attention to reach customers. These largely suffer from a lack of awareness, despite the promise of vast improvements in hiking experiences for the majority. Although the price also remains out of reach for many, the lack of experience in wearing these shoes remains a major obstacle for the consumer who decides on their long-term use. Despite having a great product on hand, the major players continue to fall behind in ad support for maximalist footwear.
The running shoes market continues to grow, despite challenges like the Covid-19 pandemic. In 2020, the sale of footwear in general has fallen dramatically, due to major global lockdowns and supply issues. For example, in Chinasportswear giant Adidas announced a drop in sales of US$1.13 billion in 2020. The decline seen in the first quarter was in line with China ongoing challenge with a shortage of raw materials and other inputs. Disruption has remained a staple routine of the covid-19 pandemic, and increasing vaccination campaigns, and global e-commerce promise to bring back growth over the forecast period. Big companies like Adidas are making major investments in cloud adoption to cater and reach more consumers online in the near future. The athletic running shoe market has remained the most stable segment of the trail running shoe market, despite the woes of covid-19.
Market segmentation –
- Barefoot shoes
- Low profile shoes
- Traditional shoes
- Maximalist Shoes
- Men’s trail running shoes
- Women’s trail running shoes
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Trail Running Shoes Market: Regional Analysis
The Trail Running Shoes market report is segmented into key regions including North America, Europe, Asia Pacific, Latin Americaand Middle East & Africa. Among these, the North America is expected to hold the highest share of total revenue, thanks to increased adoption of nature adventures. Additionally, the increased demand from US consumers to use different products for every occasion also promises a major boost for the growth of the market. Growing disposable income and increased adventure-seeking attitude among Asian millennials also promise notable growth for the trail running shoes market.
Trail Running Shoes Market: Competitive Analysis
The global trail running shoes market is a fragmented and competitive landscape. Some key players on the global stage are Salomon, Brooks, New Balance, Asics, The North Face, Deckers, Saucony, Montrail, The North Face, LOWA, Tecnica, Montrail, Nike, Adidas, Scarpa, Vasque and others.
Recent notable developments include the launch of new products by Merrell. The company announced a hybrid offer in the online market with the high consumption of occasional outdoor users. The product offering claims to be trail-ready, athletic and stylish.
British brand Inov-8 recently announced the “first-ever graphene-based shoes”. The company claimed that the design innovation came from its collaboration with research institutes and that an atom in the new shoe is 200 times stronger than flight. Graphene, often touted as the miracle material in many manufacturing industries, has rolled out a material that may promise lighter and stronger shoes, a key need for casual and regular hikers in the trail running shoe market.
The new footwear offering on the market also continues to incorporate new innovations such as thermal insulation for cold conditions and waterproof materials for wet conditions. Increasing weight reduction and increasing features such as waterproofing remain key to justifying the high price of quality products in the trail running shoe market.
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