Globally, the Asia Pacific market is expected to grow at a substantial rate of over 30.82% during the predicted timeframe. During the period 2023, North America is anticipated to dominate the global boot market, generating more than 37% of total revenue. Asia Pacific is expected to expand at a CAGR of 6.8%.
NEWARK, Del: In 2023, the global boot market is expected to grow by 5.8% to reach US$ 34.06 billion, and by 2033 it is expected to reach US$ 59.85 billion.
As consumers adopt trendy designs, boot sales increase, resulting in higher sales. The boot market has expanded rapidly in recent years, as boots have become increasingly popular as fashion accessories. Fashion consciousness, rapid industrialization, and a growing number of hikers and mountaineers are driving the global boot market.
The growth of online retailers and the increasing demand for fashionable, comfortable boots are driving up the popularity of boots among people of all ages. Retail channels providing footwear and the increasing popularity of online retailers are stimulating consumer purchasing behavior.
There has been an increase in boot demand as a result of growing fashion awareness, rapid industrialization, and a rising number of hikers and mountaineers. The boots market is growing as consumers’ preferences for fashionable designs change, resulting in high sales. As consumer preferences change and fashion trends evolve, manufacturers can come up with more innovative and enhanced products due to a better understanding of brands.
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Key Takeaways from Market Study
- The boot market is expected to register a CAGR of 5.8% over the forecast period.
- From 2017 to 2022, the global boot market registered a CAGR of 3.9%.
- Offline channels accounted for 68.80% of overall revenue, dominating the global boot industry.
- 55% of worldwide revenue is anticipated to come from the regular boots in 2023, representing the leading market share.
Several prominent companies dominate this market, including Timberland LLC, Wolverine Worldwide, Woodland Worldwide, Dr. Martens Airwair, Red Wing Shoe Company, Church & Co. Ltd., R.M Williams, Sorel, Belstaff International Ltd., The Frye Company, and others.
Small-to-medium-sized and unorganized players also make up the global market, which accounts for a significant share of the market. Most of these established players have extensive distribution networks around the world to reach out to their large customer base, which makes them significant players in the market.
Various strategic initiatives are being undertaken by the key players to drive revenue growth and strengthen their market position, including product launches, acquisitions, collaborations, participation in events, and expansions.
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Boot Market Segmentation by Category
- Chelsea Boots
- Regular Boots
- Military Boots
- Safety Boots
By Distribution Channel:
By Region Outlook:
- North America
- Latin America
- The Middle East and Africa
- East Asia
- A collaboration between Vans and Timberland was initiated in December 2022 to commemorate Half Cab’s 30th anniversary. The partnership created Half Cab Hiking, which is technically a hybrid of a skate shoe and a hiking boot.
- In December 2022, the footwear company Wolverine World Wide Inc. announced to start the process of licensing or selling its brands Keds and Wolverine. This was done by determining them to be low-profit contributors. In addition, it reduced the workforce associated with them.
- Wolverine partnered with Halo to release a limited-edition set of shoes designed specifically for Halo fans. These shoes feature UltraSpring cushioning midsoles and have the number 117 imprinted on the outside heel.
- In February 2022, Dr. Martens and A-COLD-WALL collaborated on two classic Dr. Martens boots – the Rikard 8-eye boot and the 3-eye shoe. The reflective side panels feature the A-COLD-WALL branding. These companies have collaborated in the past as well.
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Table of Content
- Executive Summary | Boot Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
Explore Wide-Ranging Coverage of FMI’s of Consumer Product Insights
Desert Boots Market Size: The global desert boots market is expected to reach a market valuation of US$ 657.9 Million by the year 2022, accelerating with a moderate CAGR of 4.8% by 2022-2032.
Rain Boots Market Share: With a CAGR of 4.2% from 2022 to 2032, the rain boots market is anticipated to reach approximately US$ 2590 million in value by 2032, up from US$ 1720 million in 2022.
Platform Boots Market Trend: The platform boots market is anticipated to grow at a mild CAGR of 3.8% during the forecast period. The valuation of platform boots market as on 2022 is US$ 415.8 million, and it is expected to be valuated at US$ 603.8 million in 2032.
Wedge Boots Market Analysis: The global wedge boots market is expected to reach a market valuation of US$ 3,400 Million by the year 2022, accelerating with a moderate CAGR of 3.8% by 2022-2032
Hunting Boots Market Forecast: The hunting boots market is anticipated to reach a valuation of US$ 6970 million in 2032. The market is expected to grow at a CAGR of 5.2% during the forecast period
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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