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Trail Running Shoes Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global trail running shoes market size was valued at USD 4.6 billion in 2022 and is expected to register a CAGR of 6.0% from 2023 to 2030. Rising health consciousness among consumers and increasing participation in outdoor activities are some of the key factors driving the demand for trail running shoes. The increasing popularity of outdoor activities such as camping, hiking, and trekking has further spurred the growth of the market.
Furthermore, the rising concerns among consumers regarding the use of eco-friendly products are further boosting the demand for these shoes. Manufacturers are increasingly focusing on developing shoes that use sustainable materials such as recycled plastics and cotton. For instance, in April 2021, Adidas launched its Terrex Free Hiker shoe, which is made entirely from recyclable materials. The company claims that this shoe is the first of its kind to be made entirely from recycled materials.
In addition, technological advancements such as the development of cushioning and midsole support systems are expected to drive the demand for trail running shoes. Companies are introducing shoes with improved cushioning technology to reduce the risk of injury and fatigue during running. For instance, in December 2021, Merrell introduced its new Bare Access XTR trail running shoes, which are designed with a lightweight cushioning system to provide superior comfort and protection during long-distance running.
Moreover, manufacturers are introducing a range of trail running shoes with innovative features to attract more customers. For instance, in January 2021, Salomon introduced its S/LAB ME5 trail running shoe featuring a new midsole material called EnergyCell+. This new midsole material is designed to provide superior cushioning and energy return for a comfortable and efficient running experience.
Apart from that, the increasing popularity of trail running as a form of exercise is expected to further boost the market growth. According to the Outdoor Industry Association, the number of trail runners in the U.S. has increased from 6.8 million in 2018 to 8.3 million in 2020. Furthermore, the increasing number of marathons and trail running events being organized worldwide is further driving the demand for trail running shoes.
Product Insights
The running shoes segment is expected to account for a significant share of the global trail running shoes market in 2022. Increasing fitness and health consciousness among individuals has led to a rise in the number of people participating in running activities, which is a major factor driving the demand for running shoes. According to an article published by the National Runners Survey, in 2020, around 22 million people in the United States ran at least once per week. Additionally, increasing popularity of running events and marathons, growing demand for technologically advanced shoes, and the emergence of various running shoe brands are some of the factors driving the growth of the market.
The hiking shoes segment is estimated to register the fastest CAGR of 8.5% over the forecast period. Growing demand for hiking activities among individuals, increasing awareness regarding outdoor activities, and rising consumer disposable income are some of the key factors driving the demand for hiking shoes. According to an article published by the Outdoor Industry Association, in 2019, hiking was the most popular outdoor activity among U.S. adults, with 47.2 million hikers. Furthermore, the increasing popularity of hiking events and marathons is supplementing the growth of the market.
Distribution Channel Insights
The specialty stores segment held the largest share among all distribution channels in 2022. The segment is expected to maintain its dominance during the forecast period due to the increasing number of specialty stores selling trail running shoes across the globe. The presence of a variety of trail running shoes from different brands in these stores allows customers to compare the products and purchase the one that best suits their needs. Furthermore, customers can also avail discounts and offers available in these stores.
The online segment is anticipated to witness a significant growth over the forecast period due to the increasing number of online stores selling trail running shoes for men and women. These stores provide customers with a wide range of trail running shoes from different brands and offer discounts on the purchase of multiple pairs. Furthermore, customers can also compare the products from different brands online and purchase the one that best suits their needs.
Type Insights
The lightweight segment accounted for the largest revenue share of 69.8% in the year 2022. The rapid growth of the hiking and running activities among the consumers has increased the demand for lightweight trail running shoes, as they are suitable for a variety of terrain. Furthermore, the increasing trend of long-distance running among athletes and amateurs is also driving the growth of the segment. For instance, in May 2022, the International Association of Athletics Federation announced the launch of the World Trail Running Championships in Paris, France.
The midweight segment is anticipated to expand at the highest CAGR of 9.2% over the forecast period. The increasing trend of long-distance running and the rising popularity of trail running activities among athletes and amateurs are propelling the demand for midweight trail running shoes. For instance, in 2021, the International Association of Athletics Federation launched the World Trail Running Championships, which is expected to increase the demand for midweight trail running shoes. Furthermore, the growing trend of outdoor activities in developing regions, such as India and China, is also driving the demand for the segment.
Regional Insights
Europe is expected to be the largest market for trail running shoes, accounting for a revenue share of over 33.4% in 2022. The presence of major players, such as Adidas, Asics, and Nike, offering a wide range of innovative and fashionable trail running shoes, is a key factor driving the market growth in the region. The growing popularity of trail running activities among the youth and the increasing participation in running events, such as the Ultra-Trail du Mont-Blanc, are also expected to drive the growth of the market.
Asia Pacific is expected to witness the fastest growth in the coming years. The rising disposable income, coupled with the increasing awareness regarding health and fitness, is driving the demand for trail running shoes in the region. In addition, the presence of prominent players manufacturing trail running shoes is further expected to drive the growth of the market. For instance, in April 2021, Salomon launched the Salomon S/LAB XT-6 Softground running shoe, which is designed for running on soft trails.
Financial Projections
In this part of the trail running shoes business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your trail running shoes products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a trail running shoes products business comes from the sale of the shoes and other related accessories. Here you will find a list with a description of each of them. In addition, other possible sources of profit such as the sale of advertising and sponsorship can also be included.
Projecting Expenses
In this section, all the regular expenses related to keeping the trail running shoes products business running will be described. The list of operating expenses includes, marketing and advertising expenses, wages, insurance policies, utilities, taxes, and others.
Key companies & market share insights
Some of the key companies operating in the trail running shoes market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In April 2022, Salomon launched the Speedcross 6 Trail Running Shoes, which provides superior grip on wet surfaces.
– In July 2022, The North Face launched the Ultra Endurance trail running shoes which provides superior cushioning and support.
– In September 2022, Brooks Running launched the Caldera trail running shoes which provides superior cushioning and support.
Some of the prominent players in the trail running shoes market include:
– Salomon
– The North Face
– Brooks Running
– Adidas AG
– Asics
– New Balance, Inc.
– Nike Inc.
– Saucony
– Merrell
– Vibram
Global Trail Running Shoes Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global trail running shoes products market based on product type, distribution channel, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Neutral
– Stability
– Cushioned
– Racing
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Specialty Stores
– Online
– Others
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Major Trends in the Trail Running Shoes Market?
[A]: A major trend in the trail running shoes market is the increasing demand for lightweight, cushioned, and comfortable shoes for trail running. Additionally, the rising popularity of trail running as an outdoor activity has contributed to the growth of this market, as consumers are seeking new and innovative shoes for their trail running experience.
[Q]: Who are the Key Players in the Trail Running Shoes Market?
[A]: Key players in the trail running shoes market include Adidas AG, Nike Inc., ASICS Corporation, New Balance Athletics Inc., The North Face Inc., Salomon SAS, HOKA One One, Brooks Sports Inc., and Merrell Footwear.
[Q]: What are the Factors Driving the Trail Running Shoes Market?
[A]: Factors driving the growth of the trail running shoes market include increasing disposable income, the growing popularity of trail running as an outdoor activity, and the increasing demand for lightweight, cushioned, and comfortable shoes for trail running.
[Q]: What are the Challenges Faced by the Trail Running Shoes Market?
[A]: Challenges faced by the trail running shoes market include the availability of counterfeit products, high prices of authentic products, and the limited availability of footwear for extreme conditions.
[Q]: What is the Potential of Product Innovation in the Trail Running Shoes Market?
[A]: Product innovation is a key factor driving the growth of the trail running shoes market. Companies are investing in research and development to create advanced shoes with features such as waterproofing, cushioning, exceptional grip, and improved breathability. This has led to the introduction of new and improved designs, materials, and technologies to enhance the performance of trail running shoes.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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