Basketball Shoes Market Report 2024 (Global Edition)

Global Basketball Shoes Market Report 2024 Market Size Split by Shoe Type (High Tops, Mid Tops, Low Tops, Others), by Application (Competition, Amateur Sports, Daily Wear, Fitness & Training, Speciali...

Basketball Shoes Market Report Description

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Basketball Shoes Market Insights Video

Competitive Landscape of the Basketball Shoes Market

The big players rapidly innovate new strategies to gain a competitive advantage and capture large market share. To serve a big consumer base and obtain a competitive advantage, the leading basketball shoe industry competitors emphasize developing creative products.

• January 2023, Jordan Brand has released the 23/7, a lightweight, durable, and simple-to-wear shoe for children. 23/7 features an easy-to-use step-in design, a secure lockdown system, and forefoot flexibility for children's comfort. The company's goal was to develop a sneaker that would become an everyday part of a child's life, bringing the sport to the next generation.

(Source:https://www.retaildive.com/news/jordan-brand-237-shoe-kids/639563/)

Basketball Shoes Market News

January 2023, Jordan Brand Introduces 23/7, a Shoe Designed for a Kid’s Experience.

Jordan Brand has launched 23/7, a lightweight, durable, and easy-entry shoe for kids. 23/7 has an intuitive step-in design, a secure lockdown system, and forefoot flexibility that provides comfort to kids. The company was focusing to create a shoe that is an everyday part of a kid’s life; bringing the sport to the next generation.

September-2022, New Balance Unveils the New Two Wxy V3 High-Performance Basketball Shoe

New Balance has launched TWO WXY V3, the third iteration remains under the FuelCell platform and is packed with design and tech built for the position-less player. The first colorway of the TWO WXY v3, called Cerebral, will be available at New Balance retail stores (www.newbalance.com) and select retailers.

Top Companies Market Share in Basketball Shoes Industry: (In no particular order of Rank)

• Adidas AG
• NIKE Inc
• Peak Sports USA
• PUMA SE
• ANTA Sports Products Ltd
• Li Ning Co. Ltd
• Under Armour Inc
• Reebok International
• Amer Sports Corporation
• Xtep International Holdings Limited
• Others
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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North America dominated the market in 2023 and accounted for around 40% of the global revenue

According to Cognitive Market Research, North America dominated the market in 2023 and accounted for around 40% of the global revenue; the region's need for performance-driven and attractive basketball footwear is sustained, thanks to a strong basketball culture and the influence of professional leagues such as the NBA. Collaborations with well-known athletes and the popularity of basketball as a sport all contribute to North America's crucial position in driving innovation and market expansion in the basketball shoe industry.

Europe is the fastest-growing category. Despite soccer's historical supremacy, the region's growing interest in basketball, fuelled by significant leagues and international competitions, is increasing demand for high-performance and fashionable basketball footwear. Collaborations with local influencers, strategic brand endorsements, and Europe's expanding sports culture contribute to the region's growing role in driving market growth

The current report Scope analyzes Basketball Shoes Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Basketball Shoes Market

According to Cognitive Market Research, North America held the major market of more than 40% of the global revenue with a market size of USD 1.04 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 3.0% from 2023 to 2030 The region is a primary driver of trends and advancements in basketball shoe design due to its powerful basketball culture and the impact of professional leagues such as the NBA. The convergence of sports and fashion significantly contributes to market dynamics, as buyers desire performance-enhancing features and fashionable looks. Major sporting brands, sponsorships from renowned athletes, and a devoted fan base keep the market growing. Despite the early obstacles given by the COVID-19 pandemic, the North American basketball shoe market has shown resiliency, adjusting to online sales channels and continuing to grab the interest of basketball fans and fashion-conscious consumers alike.

Europe Basketball Shoes Market

According to Cognitive Market Research, with a market value of USD 0.78 billion in 2023 and projected to expand at a compound annual growth rate (CAGR) of 3.2% from 2023 to 2030, Europe accounted for the majority of global revenue, accounting for over 30% of the total Though not as prominent as in North America, the region's basketball culture is growing, fueled by the popularity of professional basketball leagues and international competitions. The merger of athletic performance and casual fashion, where customers want basketball shoes that smoothly transition from the court to everyday wear, is a major segment shaping the industry. Major athletic businesses use endorsements from local and international basketball stars to increase market appeal. Despite economic uncertainty and the COVID-19 pandemic, the European basketball shoe market demonstrates resilience, with a growing emphasis on online retail channels and a growing hunger for innovative and trendy basketball footwear.

Asia Pacific Basketball Shoes Market

According to Cognitive Market Research, Asia Pacific held a considerable market share in 2023, accounting for more than 22% of the global revenue with a market size of USD 0.57 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2023 to 2030 The diversified consumer base of the region, inspired by the success of the NBA and local basketball leagues, contributes to the market's dynamic terrain. The confluence of sports and streetwear is a crucial driver of growth, with customers seeking basketball shoes that effortlessly integrate performance elements with stylish styles. Major athletic companies actively leverage local endorsements and sponsorships to adapt to regional interests. The market's resilience is shown in its ability to manage obstacles such as the COVID-19 pandemic, with an increased emphasis on digital platforms and new marketing techniques, making the Asia Pacific a key player in the global basketball shoe market.

South America Basketball Shoes Market

According to Cognitive Market Research, Latin America accounted for more than 5% of the global basketball shoe revenue in 2023, with a market size of USD 0.13 billion in 2023. It will grow at a compound annual growth rate (CAGR) of 4.0% from 2023 to 2030. While soccer has long dominated the sports world, basketball is carving out a substantial niche, thanks to worldwide leagues and the rise of local talent. The integration of athletic performance and urban fashion is a major segment shaping the industry, as consumers seek basketball shoes representing style and practicality. Major athletic brands capitalize on the region's passion for sports by engaging with local influencers and athletes. Despite economic changes and the hurdles provided by the COVID-19 pandemic, the Latin American basketball shoe market shows resilience, with a great potential for additional growth as the sport continues to grab the imagination of a varied and enthusiastic consumer base.

Middle East and Africa Basketball Shoes Market

According to Cognitive Market Research, the Middle East and Africa accounted for more than 3% of the global revenue in 2023, with a market size of USD 0.08 billion in 2023. They will grow at a compound annual growth rate (CAGR) of 4.2% from 2023. Despite soccer's historical supremacy, basketball's growing popularity is reflected in the increased demand for performance-driven and fashionable basketball footwear. The merger of sports and street fashion is a key market niche, with consumers wanting basketball shoes that meet athletic performance and modern style tastes. Major sporting companies collaborate with local athletes and influencers to tap into localized trends. Despite economic constraints and the impact of the COVID-19 pandemic, the Middle East and Africa's basketball shoe market demonstrates resiliency, exhibiting a vibrant sports culture and a growing hunger for innovative and attractive athletic footwear.

Basketball Shoes Market Analysis

Basketball Shoes Shoe Type Segment Analysis

According to Cognitive Market Research, other shoe types held the major market share over the forecast period. Incorporating sporty and casual styles into other shoe types, such as lifestyle sneakers and hybrid athletic-inspired designs, is driving market growth. Consumers are increasingly looking for adaptable footwear that combines performance elements with everyday design, which is helping to diversify and broaden the popularity of styles other than classic basketball shoes.

Low tops are the fastest-growing category over the forecast period, reflecting a movement in customer preferences towards sleek and adaptable designs. Low-top basketball shoes enhance mobility, making them appropriate for on-court performance and off-court style. This trend appeals to a varied consumer base looking for athletic footwear that perfectly integrates practicality and fashion, contributing to the market's growing popularity of low-top basketball shoes.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Basketball Shoes Industry. Request a Free Sample PDF!

Basketball Shoes Application Segment Analysis

According to Cognitive Market Research, competition holds a prominent market share. Major athletic businesses always innovate to obtain a competitive advantage, introduce cutting-edge technologies, collaborate with high-profile athletes, and experiment with various design features. This competition creates a dynamic market environment by providing customers with diverse options and pushing industry evolution as businesses compete for market share and consumer loyalty in the highly competitive athletic footwear sector.

Daily wear is the fastest-growing category over the forecast period. Consumers are embracing the versatility of basketball sneakers in casual settings, focusing on style and comfort. The combination of athletic performance qualities and everyday fashion leads to market growth, reflecting a broader trend of athleisure and the changing preferences of fashion-conscious individuals.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Basketball Shoes Closure Type Segment Analysis

According to Cognitive Market Research, lace holds a prominent market share. Lacing methods that are unique improve performance and aesthetics while providing players with a personalized fit. The evolution of laces in basketball shoes accommodates varied desires as consumers seek fashionable and functional footwear. This emphasis on innovative lacing systems adds to market expansion while providing a distinguishing feature in the highly competitive athletic footwear sector.

Zippers are the fastest-growing category over the forecast period; Zippers give a touch of style while also giving consumers easy wearability and customizing choices. This novel feature serves customers looking for one-of-a-kind and fashionable basketball sneakers. The addition of zippers helps to diversify the market by aligning with the changing tastes and preferences of basketball fans and fashion-conscious shoppers equally.

• Laces
• Straps
• Zippers
• Velcro

Basketball Shoes End-User Segment Analysis

According to Cognitive Market Research, men hold a prominent market share. Men's basketball shoes cater to a broad demographic of sports enthusiasts and fashion-conscious consumers, heavily emphasising athletic performance and style. Men's basketball footwear is becoming increasingly popular due to changing consumer preferences for new designs, cutting-edge technologies, and partnerships with sports stars, which support overall industry growth.

The kid's category is the fastest-growing over the forecast period. Kids' basketball shoes are becoming increasingly popular, with a focus on delivering both performance and style for the younger audience. Manufacturers offer innovative designs and technology customized to children's requirements, as parents value quality and comfort. This emphasis on youth-oriented basketball footwear adds to market growth by meeting the desire for long-lasting and fashionable solutions for young athletes and fans.

• Men
• Women
• Kids

Basketball Shoes Material Segment Analysis

According to Cognitive Market Research, leather holds a prominent market share. Premium materials like genuine leather are in high demand as consumers seek durability, style, and comfort. Leather basketball shoes combine performance and luxury, attracting a broader audience and contributing to the market's overall growth for high-quality basketball footwear.

Synthetic is the fastest-growing category over the forecast period. High-performance synthetic materials offer durability, flexibility, and lightweight features as technology progresses, fulfilling the demands of both amateur and professional players. The growing popularity of synthetic basketball shoes demonstrates the industry's emphasis on innovation, affordability, and sustainability, contributing to the market's general diversification and appeal to a diverse spectrum of consumers.

• Leather
• Textile
• Synthetic
• Mesh

Basketball Shoes Distribution Channel Segment Analysis

According to Cognitive Market Research, offline sales hold a prominent market share due to the convenience of e-commerce. Consumers can easily browse and purchase various eyebrow cosmetics online, from pencils to gels. This trend is driven by the accessibility and extensive product choices online, making it a preferred shopping channel for beauty enthusiasts seeking convenience, variety, and often discounted prices.

Online sales are the fastest-growing category over the forecast period. While internet channels are common, conventional brick-and-mortar stores remain important for consumers to physically try on and experience basketball shoes. The in-store shopping experience, combined with customized help, builds customer trust and contributes greatly to market expansion, particularly where physical retail presence remains an important feature of the consumer purchasing journey.

• Online 
• Offline 

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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