The ‘Global Hiking Footwear Market Size, Share, Demand, Price, Report and Forecast 2023-2028’ by Expert Market Research, gives an extensive outlook of the global hiking footwear market, assessing the market on the basis of its segments like design style, distribution channel, end user, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It is also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Hiking Footwear Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Value (2021): USD 18.7 billion
• Forecast CAGR (2023-2028): 3.30 %
• Forecast Market Value (2027): USD 22.9 billion
The hiking footwear market is expanding as hiking becomes more and more popular as a leisure activity that has numerous health benefits, including enhanced cardiorespiratory fitness, lowered blood pressure, and a decreased risk of heart disease.
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There is steady expansion in the market due to the availability of various types of hiking footwear, including heavy hiking boots, trail runners, light hiking boots and trail shoes, as well as their importance in facilitating a comfortable hiking experience and lowering the risk of an ankle injury.
The growth of the market for hiking footwear is being greatly accelerated by its unique qualities, such as extended durability, lightweight design, and flexibility. The hiking footwear market growth is also being significantly influenced by government programmes to encourage environmentally friendly travel and physical activity among the populace. Over the course of the projection period, it is predicted that the market will be stimulated by market participants’ efforts to create new items of exceptional quality that fulfil consumer expectations.
Hiking Footwear Major Segments
The purpose of hiking footwear, commonly referred to as hiking boots, is to prevent injuries to the feet and ankles during strenuous activities like trekking. While walking over uneven terrain, it provides the wearer with comfort and support. Trail hikers, trail shoes, and hiking boots are a few examples of the various styles of hiking footwear.
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Based on design style, the market includes:
• High Cut
• Mid Cut
• Low Cut
On basis of distribution, the hiking footwear market is segmented into:
• Online retail stores
• Offline retail stores
Based on end user, the market is categorised into:
The major regional markets include:
• North America
• Latin America
• Middle East and Africa
Hiking Footwear Market Trends
The hiking footwear market is anticipated to have considerable expansion in the online retail stores segment over the course of the forecast period. The growth of the hiking footwear industry is also being accelerated by the rising e-commerce and numerous online platforms. The rising purchasing power and the growing significance of recreational activities the daily lives of people to relieve stress and improve mental health can be related to the rising sales of hiking footwear through these channels.
The market expansion of hiking footwear through online retail outlets is also being fuelled by people’s growing appreciation of nature and the rise in the number of individuals participating in hiking activities. The market for hiking footwear is influenced by the branded industry players’ increasing use of marketing methods to promote their high-quality hiking boots.
Key Market Players
The major players in the global hiking footwear market report include:
- Mizuno Corporation
- New Balance, Inc.
- Amer Sports Corporation
- PUMA SE
- Wolverine World Wide, Inc.
- NIKE, Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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