The popularity of digital and social media marketing has increased manifold in recent years. In addition, the age and gender targeted marketing options offered by major social media platforms made it easier for the companies to connect with the potential customers which has boosted the growth for mountain bike footwear and socks market.
However, athletic shoes and socks market is highly consolidated in North America accounting for more than 70% of the market where as global market is moderately consolidated. Smaller, specialized players have limited market share. The major players have well established brands, enjoy high brand recall among consumers as well as have large base of loyal consumers. This is considered to be a major barrier for new entrants in the market. Nevertheless, all these factors are boosting the global mountain bike footwear and socks market to grow at the CAGR of 5.57% during the forecast period of 2017-2024.
Mountain bike footwear are specially designed shoes and socks for mountain biking. Also, mountain bike footwear provides various advantages of pedaling, control, safety and specificity.
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Key Players:
Shimano, Inc. (Japan)
Five Ten Footwear Company (U.S.)
Diadora Sports S.r.l (Itlay)
Trek Bicycle Corporation (U.S.)
Louis Garneau Sports (Canada)
Giro (U.S.)
Cannondale (U.S.)
Mavik (France)
Fizik (U.S.)
Northwave (Itlay)
Key players in the mountain bike footwear and socks market are inclined towards partnership with different companies and events for product promotions and expanding their geographical presence. Additionally, the companies are inclined towards new product launch and strengthening their product portfolio. The companies are highly focusing on partnership with various events to pave a sustainable growth and expand its business through a long term strategic move.
Segmentation:
The global mountain bike footwear and socks market is segmented by type, end-user, distribution channel and region.
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Region Analysis:
The global mountain bike footwear and socks market is segmented into North America, South America Europe, Asia Pacific, and rest of the world (ROW).
Among the North American countries, the U.S. is majorly driving the market of mountain bike footwear and socks market in this region. However, Asia Pacific region is expected to grow with a CAGR of 6.30% during the review period. In Asia Pacific region, China is expected to hold 33% market share in the year 2017.
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