Hiking Footwear Market Size, Share, Forecasts Analysis, Company Profiles, Competitive Landscape and Key Regions 2029
The global hiking footwear market size is projected to experience dynamic growth in the forthcoming years. The increasing awareness regarding fitness and adventure sports will promote growth positively, states Fortune Business Insights in its report, titled, " Hiking Footwear Market, 2022-2029"
The rising number of people involved in adventure sports is expected to fuel the market. They require hiking shoes in rock climbing, mountain biking, trekking, etc to safeguard their feet from slippery and uneven areas. Additionally, people prefer to wear these shoes when they visit any archeological or ancient sites, as these places require long hours of walking. Therefore, the market is expected to generate traction in upcoming years.
COVID-19 Impact
The outbreak of the COVID-19 pandemic has crippled the global economy, and shoe manufacturers also suffered losses as nations around the world underwent a strict lockdown to curb the spread of the virus. All non-essential manufacturing was shut and a few of them retooled to manufacture masks, sanitizers, and personal protective equipment (PPE). However, the market is expected to revive during the forecast period.
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List of Key Players Covered in the Hiking Footwear Market Report:
- Wolverine World Wide,
- Adidas AG,
- Amer Sports Corporation,
- NIKE, Inc.,
- Mizuno Corporation,
- New Balance, Inc.,
Highlights of the report:
The report provides insights about the tangible intelligence into the trends, drivers, and various other aspects of the market and the holistic analysis of the factors restricting the growth of the electric baby bouncers market. It also emphasizes the granular assessment of the different market segments. And lastly, an in-depth evaluation of the regional prospects and the competitive dynamics influencing the market are given in the report.
Drivers & Restraints
Rising Outdoor Activities to Drive Market Growth
The growing interests of youngsters in outdoor activities such as hiking and trekking, which is affordable and good leisure time to unplug oneself from daily chores and to feel a part of something is expected to drive the hiking footwear market growth. Additionally, the use of these shoes by fitness enthusiasts is also expected to contribute to the market.
On the other hand, the availability of substitutes such as normal regular boots and shoes are expected to act as major market constraints.
Regional Insights
North America to Dominate Backed by Rising Population Involved in Outdoor Activities
North America is expected to hold a major hiking footwear market share due to the rising population participating and enjoying outdoor activities. For instance, according to an estimation done by Outdoor Foundation in 2018, around 146.1 million United States population participate in outdoor activities. This is expected to promote the regional market.
Europe is also anticipated to hold a significant market share owing to increasing tourists’ visits to mountains such as the Eye of Sea of Poland.
Segmentation-
Based on the product type, the market is trifurcated into hiking boots, trail shoes, and hiking shoes. By design, it is divided into low cut, mid-cut, and high cut. On the basis of its sales channel, the market is divided into hypermarkets/supermarkets, shoe stores, and online stores. The market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East by geography.
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Competitive Landscape
Exciting Launches by Key Players to Energize the Market
Key players are deeply engaged in devising novel products. For instance, in July 2019, RUN 24/7 introduced Cloud hiking boots. These are waterproof boots that can safeguard feet from wind and water and still allow the breathability factor.
Industry Development
August 2019: Lowa acquired an Italian sports footwear company Rika Sports. This acquisition is expected to result in an increased labor force at Lowa.
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