The sneaker market - Brazil

Sneakers refer to a pair of sports shoes adapted for urban and everyday use. Derived from models designed for sport, they are appreciated for their comfort and style. In fact, sneakers are also fashion accessories that were worn in the hip-hop world in the 1980s before becoming streetwear brands that spread in popular culture in the 2000s. In many countries, especially in the West, these shoes are widely worn on the streets. Teenagers are the main users of sneakers as everyday shoes, with the encouragement of advertising campaigns by big specialist brands, but people of other ages also wear them with pleasure. For urban use, multi-purpose sneakers or reissued models from the 1960s-1970s are the most popular. The global sneaker market is expected to grow at a compound annual growth rate of 7% between 2020 and 2024. Asia-Pacific represents the dominant region in this market due to an extremely large population and an increase in average disposable income. These demographic factors, combined with a growing desire for a healthy, sporty lifestyle and a preference for more comfortable clothing, explain the importance of the Asia-Pacific region for the global sneaker market. As with most emerging markets, the sneaker market is crossed by several trends that shape its future. Among these trends, market valuation is very present with luxury brands entering the sneaker segment, especially through collaborations with existing players (e.g. Dior and Jordan Brand). The sneaker market is also being transformed by the growing environmental awareness of the population and new players have entered this niche with durable and recycled sneakers, recently followed by industry giants such as Nike, Adidas and Puma. The sneaker market in Brazil, according to data from the Brazilian Sports Articles and Equipment Industry Association (ABRIESP), reached a significant milestone in 2022. With an average annual growth rate of 10% over the last five years, the sneaker segment accounted for approximately R$7.8 billion in the country's footwear industry. A strong trend in the sneaker market is the search for authenticity and exclusivity. Consumers are increasingly attracted to limited editions, collaborations between brands and unique designs, as a way of expressing their individuality through the shoes they wear. In addition, sustainability is a growing concern, with many brands adopting eco-friendly production practices.