INDUSTRIES & MARKETS

Sneakers
A Statista Overview report on the global sneaker market
 Table of contents

01 Market overview
Sneaker and athletic footwear revenue forecast 6
Global footwear revenue and pairs sold 7
Global sneaker revenue share 10

02 Art and culture

A cultural history 13
A new form of art 15
Sneakers at auction 16

03 Sneaker trends
Sneaker resale 18
U.S. consumer insights 20
Sustainable materials 21

2
 Pairs of sneakers sold 2022
5.3%

1.2bn Volume change

in pairs sold 2022

0.2
Average sales volume
per capita 2022 (in pairs)

60.75
Average retail value
per unit 2022 (in U.S. dollars)

3 Notes: Worldwide; June 2023

Sources: Statista; Statista Consumer Market Insights

 The dynamic rise of sneaker culture

Sneakers were first produced in the late 19th century, purely designed for sports
purposes. Since then, the market has diversified, giving birth to sneaker culture, an
expression of personal identity as well as the feeling of belonging to a community.
Sneakers can be seen everywhere, at almost every price point. Nike Air Jordans are
among the most valuable sneakers on the market today, while the Nike
Downshifter and Adidas RunFalcon models are among the most affordable. Some
shoppers pay extra for luxury footwear, viewing it as an investment.
Demand for fashionable and comfortable footwear that is not sport-specific makes
sneakers one of the hottest categories in the footwear segment. In 2022, about 1.2
billion pairs of sneakers were sold across the world. By 2028, this figure could reach
as high as 1.4 billion pairs sold, generating estimated revenues of 98 billion U.S.
dollars.
2022 saw sneaker sales return to pre-pandemic levels, reaching approximately 73
billion U.S. dollars globally. Statista forecasts growth to continue in 2023, although
at a slower pace. Consumer confidence dropped due to high inflation experienced
around the world in 2022, which dragged into 2023.
What is changing in the sneaker market?
• The importance of sneakers is also reflected in the resale market. In 2022, it was
estimated that the sneaker resale market would be worth around 14
billion U.S. dollars globally in 2025, led by the United States. Consumers are
now turning to the resale market as a way of buying luxury footwear at more
affordable prices.
• Additionally, today, shopping secondhand is seen as responsible and trendy
as consumers become more aware of their personal environmental impact.
• Sustainability concerns have recently arisen regarding manufacturing
processes and the materials used in sneakers. Due to this, brands have
started to invest in natural, ethical, recyclable, and sustainable footwear.
Worldwide, Statista valued the share of revenue from footwear that is
attributable to sustainable products at 7.1 percent in 2023. This was forecast to
rise to 10 percent by 2026.
This report provides an overview of the sneaker market and gives insights into how
sneakers have become a cultural commodity and, in some ways, a work of art.

Sources: Statista; TD Cowen

01

Market overview

• Sneaker and athletic footwear revenue forecast

• Global footwear revenue and pairs sold

• Global comparison of sneakers and footwear

• Global footwear production

• Global sneaker revenue share

• Footwear revenue of key players

 Sneakers are outperforming sports shoes
Sneaker revenue is forecast to be 50 percent higher than athletic footwear revenue by 2027

Estimated global sneaker and athletic footwear market revenue 2018 to 2028 Over the past several years, sneakers have been one of the biggest fashion
Revenue in billion U.S. dollars trends among consumers, and the hype shows no sign of stopping. Global
sneaker sales generated approximately 73 billion U.S. dollars in 2022, and the
180
CAGR market revenue is expected to increase at a compound annual growth rate of
160 +4.15% 5.31 percent between 2023 and 2028.
140 The total footwear market has recovered after seeing a revenue drop of 13.7
65
62 percent in 2020. Despite further global disruptions as a result of supply chain
120 60
58 issues and inflation in 2022 and 2023, Statista forecasts the market value to
55
100 51 53
52 increase again in 2023, reaching 398 billion U.S. dollars, the same total as in
50 46
45 2019. Sneaker revenue is forecast to grow by 4.2 percent between 2022 and
80
CAGR
2023 – only the textile and other footwear segment is expected to see a greater
60 +5.31%
revenue change.
93 98
40 85 89
73 76 80 Many big sportswear brands have followed this fashion trend by investing more
65 70 63 66
20 and more in sneakers, and consumers are responding. That is not to say that
shoes designed specifically for sport have been forgotten. By 2028, athletic
0
shoe sales are expected to reach around 65 billion U.S. dollars.
2018 2019 2020 2021 2022 2023* 2024* 2025* 2026* 2027* 2028*
Sneakers Athletic footwear

6 Notes: Worldwide; June 2023; * forecast

Sources: Statista; Statista Consumer Market Insights

 The global footwear market
Share of revenue and pairs sold of the total footwear market worldwide in 2022, by segment

Sneakers occupy an important place in the footwear

Revenue Pairs sold market, blurring the lines between fashion and
3% function. Consumers are not just buying footwear
13% based on comfort and affordability; enthusiasts are
willing to pay premium prices for quality, brand
25% reputation, the latest styles, and iconic silhouettes.
35%
As a result, athletic footwear, leather footwear, and
sneakers all had larger value shares than volume
shares in 2022. While sneakers made up just nine
33%
percent of all footwear products sold, the segment
64% 9% was responsible for 19 percent of the total revenue.

The textile and other footwear segment, which

includes footwear intended for general use made from
19% textile, rubber, or plastic, generated just over a third of
the overall revenue despite accounting for around
two-thirds of all footwear items sold.

Athletic footwear Leather footwear Sneakers Textile & other footwear

7 Notes: Worldwide; June 2023

7
Sources: Statista; Statista Consumer Market Insights
 Where sneakers rule
Sneaker sale revenue as a share of total footwear sales in 2022

UK Globally, sneaker sales accounted for less

22.9% Germany than 20 percent of overall footwear revenue.
Russia
23.6% At a country level, this figure varied greatly.
11.1%
Canada
23.06% North American countries showed a strong
preference for sneakers in 2022. In Mexico,
Spain Turkey Japan
16.52% 13.58% 28.54% sneakers made up over 30 percent of total
U.S.
25.09% footwear revenue. Sneakers also contributed
Mexico France sizeable shares in the United States and
30.78% 18.77% South Korea
Italy India Canada. Only Japan and Germany broke up
16%
16.07% 10.27%
the North American dominance in the top
China
five.
19.06%
Brazil
11.34% For many people, sneakers remain a luxury
item. In Turkey, Brazil, and India – among the
leading footwear producers worldwide (see
next page) – sneakers accounted for much
lower shares of total footwear revenues.

8 Notes: Worldwide; June 2023; 15 largest footwear markets worldwide

Sources: Statista; Statista Consumer Market Insights

 Asia accounts for almost 90 percent of global footwear production
Leading footwear producers in 2022, by quantity produced

Global demand for sneakers has soared, and

production has increased correspondingly. China is
3 Vietnam the world’s largest footwear producer, accounting for
6.3%
around 55 percent of all footwear produced in 2022,
1 China 6 Turkey
54.6% 5 Brazil 2.4% equivalent to approximately 13 billion pairs of shoes.
3.5% According to World Footwear, Asia accounted for over
87 percent of the world’s footwear production in 2022.
7 Pakistan
2.2% Western countries such as the United States and
Germany imported more footwear than other regions,
8 Bangladesh
including sneakers. In fact, Europe accounted for over
2%
one-third of footwear imports in 2022.
9 Mexico
0.9%
10 Cambodia
0.8%
Other
12.1%
2 India
4 Indonesia
10.9%
4.3%

9 Notes: Worldwide; 2022

Sources: World Footwear; ID: 605983

 The United States is the leading market for sneaker sales
Leading countries by share of global sneaker revenue in 2022
U.S.
India 29.56%
3.38%
Italy Sneakers have become an integral part of
Brazil
2.2%
2.18% American culture. People from all walks of life –
France Canada athletes, billionaires, celebrities, and ordinary
1.8% 1.9%
people – are all just as comfortable in a pair of
sneakers. Unsurprisingly, the United States
China generated the most sneaker revenue in 2022,
20.63% holding approximately 30 percent of the market.

China was the only other country with a double-

UK digit share, accounting for one-fifth of the 72.7
5.02%
Japan billion U.S. dollar sneaker market. After that,
4.3% there was a significant gap to the UK sitting in
Germany third place with a five percent share of global
3.56%
Mexico sneaker spending.
2.53%

10 Notes: Worldwide; June 2023

Sources: Statista; Statista Consumer Market Insights

 Nike is the front-runner in the sneaker market
No other company looks like it can catch the market leaders

Footwear segment revenue in financial year 2022 Nike’s total revenue in financial year 2022, by region Based on revenue, Nike and Adidas lead the
Revenue in billion U.S. dollars Revenue in billion U.S. dollars sneaker market by a considerable distance, with
the footwear divisions of these companies each
Nike 29.14
earning more than their nearest rivals combined.
5.96
In the financial year 2022, Nike generated more
12.48 than 29 billion U.S. dollars in revenue from its
Adidas 13.24
footwear segment alone. Footwear accounted for
66 percent of Nike’s global revenue. Second-
Puma 4.61
placed Adidas brought in around 13 billion U.S.
dollars. Puma and Asics trailed behind the
Asics 3.02 market leaders with footwear revenues of 4.6
billion U.S. dollars and three billion U.S. dollars,
18.35
7.55 respectively.
Converse 2.09
Nike’s regional revenue breakdown highlights the
Under importance of each market to the sneaker giant.
1.25
Armour In 2022, across all Nike product categories, North
Asia-Pacific, Latin America North America
America alone accounted for more than 40
Greater China Europe, Middle East, Africa
percent of the company’s total revenue

11 Notes: Worldwide; financial year 2022; currencies converted to U.S. dollars at the exchange rate as of the end of the financial year

Sources: Company reports

02

Art and culture

• A cultural history

• A new form of art

• Sneakers at auction
 Iconic moments in modern sneaker culture
Sneakers that have been immortalized in history

Converse released its first pair of All Stars as early as 1917, but it was not until the
1970s that the sneaker phenomenon gradually gained momentum thanks to New
York’s hip-hop and basketball communities. Having started as an underground
subculture, sneaker fever eventually boomed in the 1980s. In 1984, after putting
pen to paper on a 2.5 million U.S. dollar deal with Nike, basketball icon Michael
Jordan began wearing his brand-new signature shoes: the Air Jordan 1. Jordan’s
talent on the court, combined with a successful marketing campaign, made the
sneakers extremely popular when they were released the following year. Beyond
basketball, songs and movies played an essential role in turning everyday shoes
into iconic symbols of pop culture. In 1986, Run-DMC’s “My Adidas” made the
Superstars a legendary model. Following the release of the single – which was both
a genuine shoutout to the culture and a response to those who associated
sneakers with criminality – the group signed the first-ever endorsement between
rappers and a sneaker company. In 1989, the Air Jordan 4 featured in a celebrated
scene from Spike Lee’s “Do the Right Thing,” and the world was introduced to the
self-lacing Nike MAG in “Back to the Future Part II.” A new era for sneakers had
begun, and just like Forrest Gump running in his Nike Cortez, the rise in popularity
was unstoppable. In 2023, this came full circle with the movie “Air.” Sneakers have
gone from being made famous in films to having films written about them.

Reebok Court Nike Air Yeezy 1 Adidas x Parley for

Converse All Star Air Jordan 1 Adidas Superstar Nike MAG Victory Pump “Prototype” the Oceans

1917 1984 1986 1989 1990 2008 2015

While not the first Michael Jordan‘s first “My Adidas” – Run-DMC’s “Back to the Future Made famous by tennis Kanye West’s first Adidas created the first
sneaker, the Converse signature sneakers first single from the album Part II” – Marty McFly’s star Michael Chang, this signature sneakers shoes from upcycled plastic
All Star went on sale
worn at NBA games. “Raising Hell.” (Michael J. Fox) self- design was re-released worn during his waste to demonstrate
featuring a design
lacing sneakers. in 2014. performance at the sustainability in the industry.
similar to the shoes of
today. 2008 Grammy
Awards.
13

Sources: Business Insider; Complex; ESPN; Fashion United; Sneaker History; The Atlantic
 “
My Adidas are seen on the movie screen.
Hollywood knows we’re good, if you
know what I mean. „ “ All you want is Nikes,
but the real ones.
Just like you; just like me. „
― ―

Run-DMC Frank Ocean

“My Adidas” (1986) “Nikes” (2016)

14
 The art of sneakers
Four Nike collaborations that exemplify sneakers’ status as an art form
Nike Air Force 1 x Tiffany & Co.
One of the most anticipated sneaker releases of
2023 was the collaboration between Nike and
the famous jewelry brand Tiffany. This was just
the latest in a stream of link-ups between high
fashion and sneaker brands, demonstrating
sneakers have a place from the streets to the
runway and anywhere in between.
Nike Air Presto x Off-White
Off-White founder Virgil Abloh was one of the
first designers to bridge the gap between high
fashion and streetwear. Abloh, who died of
cancer in 2021, redesigned 10 classic pairs of
Nikes, to great admiration, in a project labeled
“The Ten.” In 2020, he claimed that young people
“may value sneakers more than a Matisse.”
15
Sources: ARTnews; Hypebeast; StockX
Nike Air Max 1 “Cherrywood” x Patta x Parra
The limited availability of certain sneakers makes
them more akin to artwork than consumer
goods. Collectors are more likely to display them
than wear them, not least due to their inflated
value. Only 258 pairs of Nike’s collaboration with
the brand Patta and Dutch artist Parra were
Collaboration Anticipation released to the public.
Air Jordan 10 x OVO “Solid Gold”
Ovo, the label co-founded by the rapper Drake,
first collaborated with Nike’s Jordan brand back
in 2015. Seven years later, Drake commissioned
Innovation Ostentation a solid gold pair of the Jordan 10s worth around
two million U.S. dollars. The one drawback? They
weigh over 45kg, making them unwearable – the
ultimate example of sneakers as art.
 Collecting sneakers like artworks
Game-worn Jordans are especially coveted by collectors
Most expensive sneakers sold at auctions worldwide
Price in 1,000 U.S. dollars
Game-worn and signed Air Jordan 13
"The Last Dance" (Game 2)
Kanye West's Nike Air Yeezy 1
"Prototype"
Game-worn Jordan's Nike Air Ships
Game-worn Air Jordan 1
"Shattered Backboard"
Game-worn Air Jordan 1
Nike Moon Shoe
Nike MAG 2016 (Self-lace)
Game-worn Converse Fastbreak
Nike Air Force 1 x Louis Vuitton
Game-worn Air Jordan 7 "Olympic"
112.50
16 Notes: Worldwide; as of April 2023
Sources: BBC; CNBC; Guardian; Highsnobiety; Sneaker Freaker; ID: 1244757
The late Virgil Abloh’s opinion on footwear as artwork is much more than an
idealistic vision of an artistic director, as recent auction figures based on sneaker
sales demonstrate. In April 2023, auction house Sotheby’s sold a pair of Air Jordan
2,238 13s, worn and signed by Michael Jordan, for the staggering price of 2.2 million U.S.
dollars, making them the most expensive sneakers ever sold.
1,800
Jordans worn on the court by the man himself are a theme in this list. In October
1,472
2021, a pair of the basketball legend’s earliest known regular-season game-worn
sneakers sold for 1.47 million U.S. dollars. The Air Jordan 1s sold by Christie’s in
615
August 2020 also fetched a huge price thanks to an iconic moment. They were
560 worn in a 1985 game that became legendary after Jordan’s powerful dunk
shattered the glass backboard. When the sneakers were sold, a piece of glass was
437.50
still stuck in the sole of the left shoe.
200
Just as with works of art, these shoes are considered extremely valuable to sneaker
190.37 enthusiasts and collectors – known as sneakerheads – for reasons such as their
history, features, or fame. Kanye West’s prototype shoes worn at the 2008 Grammy
151.20 Awards, for instance, marked the start of the Yeezy brand, also representing the
first time a rapper helped design a pair of Nike shoes. Kanye later teamed up with
Adidas, a partnership the German company ended in 2023 after the rapper made
antisemitic comments.
03

Sneaker trends

• Sneaker resale

• U.S. consumer insights

• Sustainable materials
 Increasing options for consumers
Selected online marketplaces for reselling sneakers
Social media
Social media makes direct consumer-to-
consumer trading and selling simple. The
process has become even easier through
the integration of marketplaces on social
media platforms.
Instagram is one of the original online
platforms for sneaker reselling. People
formed communities to share their
interest in sneakers and make swaps and
sales.
In a 2023 survey, sneakerheads were
roughly 10 percent more likely than the
general population to use both
Instagram and YouTube. In fact, usage
was higher across all social networks.
The biggest reselling accounts have
hundreds of thousands of followers, and
many people who sell sneakers more
informally, as a side hustle, use the
platform.
18
Sources: Adidas; eBay Inc; StockX; YouGov
Resale platforms
Examples of apparel resell platforms are
Depop, ThredUp, Vinted, and, most
famously, eBay.
Of course, anything can be bought on
eBay, but it is one of the original
marketplaces for reselling sneakers, and
the company is clearly looking to expand
its reach in this category.
In 2022, eBay launched its own in-house
shoe verification program to ensure
shoes sold at more than 100 U.S. dollars
are genuine. The online auction giant first
offered a limited sneaker authenticity
guarantee in 2020. As of April 2023, eBay
had authenticated over four million
pairs.
According to Wahaaj Shabbir, eBay’s head
of sneakers UK, a pair of sneakers sold
every 5 seconds on the platform in 2023.
Specialist sneaker platforms
Market leaders in this category include
Goat and StockX. StockX launched in 2016
and was valued at 3.8 billion U.S. dollars
at the beginning of 2021.
Resellers send the shoes to StockX, which
has 13 authentication centers worldwide.
Once the shoes have passed the quality
and verification process, they are
dispatched to the buyer. All items on the
website are considered deadstock, so
even though the sneakers are being
resold, they are new and unworn at the
time of sale.
StockX provides historical financial
information on sneakers, allowing users
to track price changes, just like the stock
market.
As of 2022, there were over 40 million
lifetime trades on the website. StockX
achieved its highest-ever revenue in 2022.
Company resale programs
The companies that make the original
sneakers are also looking to get in on the
resale act. Among others, Nike, New
Balance, and Adidas have launched their
own resale programs.
Adidas’ program is called Give Back.
Consumers can return old shoes and
clothing from any brand in exchange for
membership points and Adidas
vouchers. The program is run in
partnership with ThredUp, which then
resells or reuses the old clothing.
It was launched in-app in October 2021
and widened to stores and online in early
2022.
18
 From Sotheby’s to StockX: The proliferation of resale
Buyers who miss out on sneaker drops end up paying the price on the resale market

Average price premium above retail on StockX in 2021, by brand While rare and historic items may fetch hundreds of thousands of dollars at
Price premium above retail auction, ordinary investors and collectors turn to platforms like eBay and StockX to
trade limited edition sneakers. For some, the practice is a lucrative one, with
average resale values for the top brands coming in well above retail prices.
Converse 25%
Air Jordans dominate sneaker sales on StockX. In 2021, the Jordan 1 ranked as the
bestselling sneaker model for the fourth consecutive year, selling for an average of
New 60 percent above the original retail price.
41%
Balance
While the secondary sneaker market might be good news for resellers,
manufacturers are less than pleased about sneaker bots buying up limited edition
Adidas 44% stock. Humans find it almost impossible to compete with sneaker bots, software
designed to complete multiple online transactions within seconds.

Unsurprisingly, manufacturers are trying to put an end to the practice by launching

Nike 57% online raffles, but bot developers are usually quick to find a way through the
chicanes.

Air Jordan 60%

19 Notes: Worldwide; 2021

Sources: StockX
 Consumer insights
U.S. consumers prefer luxury shoes to buying secondhand

35%
31% In the United States, consumers are more likely
36% to buy premium shoes than to actively purchase
Share of internet users who also
buy premium or luxury items them secondhand.

According to the latest findings from Statista’s

Global Consumer Survey, only 21 percent of
internet users in the United States had
31%
22% purchased secondhand shoes in the previous 12
Share of internet users who have 21%
months, compared with over 30 percent who
bought secondhand products had purchased secondhand clothes.
within the last 12 months
Interestingly, almost half of respondents said
they paid particular attention to brands when it
came to footwear.
46%
32%
Share of internet users who pay 46%
particular attention to brands

20 Notes: United States; July 1, 2022, to June 25, 2023; survey count: 60,072; responses for sneakers, apparel, and accessories

Sources: Statista; Statista Consumer Insights

 Sustainability through innovation
Rethinking sneaker construction

Native Shoes, a Canadian footwear brand aiming to make all its products 100
percent life cycle managed, is going in the right direction with its sustainable
offerings to match market trends. One example of how it is reaching this
goal is the development of the Plant Shoe. The Plant Shoe is produced purely
from plant-based components, making it 100 percent vegan and animal-
friendly. Pineapple leaf, olive oil, and hemp are among the materials and
products used to make the sustainable sneaker. Due to the use of natural
materials, the sneakers are compostable or recyclable.

Native Shoes is not the only company moving in this direction. Adidas
released the Futurecraft.Footprint running shoes in collaboration with
sustainable sneaker company Allbirds. Many of the materials used for the
shoe are either recycled or bio-based, using wood fibers or sugar cane.
According to the producers, the carbon footprint of the shoes is considerably
lower than the average sneaker, at 2.94 kilograms of carbon dioxide
equivalent per pair. Allbirds has since announced Moonshot (stylized as
M0.0NSHOT), a net-zero carbon shoe to be released in 2024.

These innovations provide an exciting glimpse of where the industry could

head in the coming years.

21

Sources: Adidas; Allbirds; Design Museum; Ed Reeve

 A fast-paced, high-value industry
Brands and consumers are increasingly investing in sneakers. Many people today
own several pairs that offer different styles, materials, and functions. For
sneakerheads, shoes have even become a cultural expression or status symbol.
This surge in popularity has fueled the sneaker market, and worldwide revenue is
expected to approach 100 billion U.S. dollars in the coming years.
Shoppers are also becoming more conscious of the environmental impact of their
purchasing habits. Within the sneaker world, sustainability in production processes
and environmental brand attributes are dominant themes. Top brands like Nike
and Adidas are increasingly likely to use recycled materials and further develop
their long-term sustainability goals in order to attract customers, alongside smaller
and more niche brands, such as Native Shoes. Resale shopping channels and
marketplaces provide another way to shop more responsibly. The global sneaker
resale market is likely to grow as consumers continue to seek out more affordable
and sustainable footwear options.
22
The manufacturing of sneakers may also experience an overhaul in years to come.
China currently produces more than 50 percent of all footwear worldwide and is
unlikely to lose its ranking as the top producer. However, with consumer focus
shifting from value to quality and sustainability, Western countries may increase
their shares of global footwear production. Advances in technology and production
processes may also boost output at manufacturing sites.
The cultural influences on the development of the sneaker market cannot be
overstated, from celebrity endorsements to iconic moments in film and music.
Sneakers are now seen as an investment, becoming a new art form, which also
significantly contributes to market growth. The opening of exhibitions such as
“Sneakers Unboxed: Studio to Street” in 2021 at the Design Museum in London
showcases the popularity of this distinct segment of the apparel market. The
exhibition has since toured across the globe.
 Sources

Adidas Guardian

Allbirds Highsnobiety

ARTnews Hypebeast

Asics Nike

BBC Puma

Business Insider Sneaker Freaker

CNBC Sneaker History

Complex Statista

Converse StockX

Design Museum TD Cowen

eBay Inc The Atlantic

Ed Reeve Under Armour

ESPN World Footwear

Fashion United YouGov

23
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 Author

Philip Smith
Researcher – Non-food consumer goods and retail

philip.smith@statista.com

Philip Smith is a consumer goods and retail expert specializing in the apparel and
fashion industry. He covers topics such as leading retailers, international trade, and
market trends. Trends he has written about include sustainability, Generation Z
fashion shopping behavior, and inclusive sizing.

25
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