Basketball Shoe Market Size, Share, Competitive Insights, Precise Outlook, and Forecasts 2023-2030 | According to RationalStat

Wilmington, Delaware, Oct. 19, 2023 (GLOBE NEWSWIRE) --

Global Basketball Shoe Market size is valued at US$ 2.5 billion in 2023 and is predicted to rise at a substantial CAGR of 5.3% during the forecast period of 2023 and 2030 according to RationalStat analysis.

Market Definition, Market Scope, and Report Overview

The basketball shoe market is influenced by lifestyle changes and trends taking place in the market and is attracting the younger generation towards increasing the sales of the basketball shoe market.

The fusion of streetwear culture with basketball shoes has led to collaborations between shoe brands and streetwear designers. Limited-edition releases and exclusive partnerships generate excitement among consumers. This fusion between streetwear culture and basketball shoes is expected to contribute notably to the growth of the basketball shoe market.

Moreover, the rising e-commerce and online retail are expected to make a positive impact on the basketball shoe market. The growth of e-commerce and online retail platforms has made basketball shoes easily accessible to consumers worldwide. Online shopping offers convenience and a wide range of options.

• According to a deep-dive market assessment by RationalStat, the basketball shoe market has been analyzed on the basis of market segments, including type, material, sales channel, application, end user, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
• Market intelligence for the basketball shoe market covers market sizes based on market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
• In addition, the long-term sector and products/services 10-year outlook and its implications on the basketball shoe market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Basketball Shoe Market: Segmental and Market Share Analysis

• On the basis of the application, the daily wear segment is anticipated to capture the major market share due to the prevalence of trends, and changing lifestyles are anticipated to push the sales of the basketball shoes market.
• Based on the sales channel, the online sales channel is anticipated to cover a significant market share as the online segment offers flexibility and doorstep delivery which makes it more popular among the younger generation.

Report Synopsis

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Competition Analysis and Market Structure

Some of the prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players, some of the key developments in the basketball shoe market include,

• In May 2023, Nike released new basketball shoes that have self-lacing technology.
• In February 2022, Authentic Brands Group a global brand development, marketing, and entertainment company, announced a new and enhanced partnership with Foot Locker, Inc., the New York-based specialty athletic retailer, for the Reebok brand within the US.

Some of the prominent players and suppliers operating and contributing significantly to the basketball shoe market growth include Nike, Inc., Adidas AG, Underdog Basketball Ltd, Cravatex Brands Limited (FILA), New Balance, PUMA SE, Under Armour Inc., Peak Sport, Li-Ning Studio LLP, Galaxy Active LLC, Xtep International Holdings Limited, and ASICS Corporation among others.

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RationalStat has segmented the basketball shoe market based on type, material, sales channel, application, end user, and region

• Global Basketball Shoe Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
  • High Top
  • Mid Top
  • Low Top
• Global Basketball Shoe Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Material
  • Synthetic
  • Leather
  • Mesh
  • Others
• Global Basketball Shoe Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Sales Channel
  • Online
  • Offline
• Global Basketball Shoe Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
  • Daily Wear
  • Competition
  • Amateur Sports
• Global Basketball Shoe Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End User
  • Individual
  • Institutional
• Global Basketball Shoe Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
  • North America Basketball Shoe Market
    • US
    • Canada
  • Latin America Basketball Shoe Market
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe Basketball Shoe Market
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe Basketball Shoe Market
    • Russia
    • Poland
    • Hungary
    • Other CIS Countries
    • Rest of Eastern Europe
  • Asia Pacific Basketball Shoe Market
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • ASEAN
      • Indonesia
      • Thailand
      • Philippines
      • Vietnam
      • Malaysia
      • Rest of ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa Basketball Shoe Market
    • GCC
      • Saudi Arabia (KSA)
      • United Arab Emirates (UAE)
      • Rest of the GCC
    • South Africa
    • Nigeria
    • Turkey
    • Rest of the Middle East & Africa

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Key Questions Answered in the Basketball Shoe Report:

• What will be the market value of the basketball shoe market by 2030?
• What is the market size of the basketball shoe market?
• What are the market drivers of the basketball shoe market?
• What are the key trends in the basketball shoe market?
• Which is the leading region in the basketball shoe market?
• What are the major companies operating in the basketball shoe market?
• What are the market shares by key segments in the basketball shoe market?  

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Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoints to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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