Rise in Number of Athletic Events and Athletes Spurs Track and Field Spikes Market

The popularity of sports has been increasing steadily across the world. Due to financially favorable foundations and the increasing number of people exposed to sports events around the world, the demand for athletic gear and accessories has been witnessing a massive upswing. Manufacturers of sports and athletic gear are also marketing their goods under the scope of improving health and lifestyle quality, two key factors currently sought amid the growing obesity epidemic and the increasing spread of diseases and chronic illnesses. The reasons are manifold, but the outcome is singular: the demand for sports and athletic equipment is rising, and the growth rate of the global track and field spikes market is not too far behind.

As a whole, the global track and field spikes market is expected to rise at a steady 2.90% within a forecast period from 2016 to 2025. The market was valued at US$13.13 bn in 2016 and is likely to reach US$16.58 bn by the end of 2025. At the end of 2025, the global track and field spikes market is expected to go over 262.8 mn units in terms of market volume.

Is the Demand for Track and Field Spikes in Europe High Enough to Maintain Lead?

Geographically speaking, the global track and field spikes market has so far been dominated by Europe. This regions holds a much higher prominence in the sale and manufacture track and field spikes. In 2016, Europe took up nearly 38.3% of the global track and field spikes market in terms of value. It is also likely for Europe to retain its lead over the global track and field spikes market for the coming years. The demand volume of Europe is followed closely by North America. Both regions are showing a very high rate of adoption of athletic sports and events, thereby increasing the overall count of athletes performing in each event. The growing number of track and field events in conjunction with other sports is therefore increasing the demand experienced by the global track and field spikes market.

Meanwhile, Asia Pacific is expected to show a higher rate of growth in the global track and field spikes market, thanks to the growing disposable incomes among consumers and the increasing adoption of track and field events.

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Why are Offline Channels Gaining More Traction than eCommerce?

With online and offline being the two key distribution channels available for the global track and field spikes market, there is a surprisingly high volume of sales happening through offline channels. Despite the currently booming eCommerce industry, the sales of track and field spikes has been much higher over offline channels. This is due to the greater amount of trust that consumers hold for offline modes. Consumers are also known to shop at the same stores for the same brand or similar types, due to them getting used to certain types of athletic equipment. For instance, in 2015, PUMA sold 79% of its track and field spikes through wholesale, leaving very little scope of sales through operated retail or eCommerce.

The key players in the global track and field spikes market so far, have included Nike Inc. Adidas AG, PUMA SE, Asics Corp., New Balance, Wolverine Worldwide Inc., Mizuno corp., Berkshire Hathaway Inc., Iconix Brand Group Inc., and Joma Sports SA.

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