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Hiking Footwear Market

Hiking Shoes to Hold Over 45% Revenue Share in Overall Hiking Footwear Products Market: Fact.MR Study

Published : 03 Dec 2021 Industry: Sports

According to the latest revised report by Fact.MR, a market research and competitive intelligence provider, the global hiking footwear market is anticipated to progress at a CAGR over 3% and top US$ 25 Bn valuation by 2031.

Hiking footwear is equipped with thick & rugged soles that is well-suited for treading on rough terrains. Hiking footwear is useful for long distance travel, owing to its provision of great functionality and weathering. Hiking footwear is also highly durable and water-resistant.

Growing popularity of hiking has been favorable for the prospects of the hiking footwear market. Major manufacturers of hiking footwear are competing based on weight, durability, weather resistance, price, design innovations, adaptability, and quality of raw materials.

A large number of people around the world, with increasing health concerns, are focusing on taking vacation packages that include adventure sports such as camping, rafting, rock climbing, scuba diving, and hiking, along with various outdoor physical activities. Demand for technologically advanced and eco-friendly hiking equipment has been witnessing significant rise worldwide.

In addition, manufacturers are also concentrating on product innovation, and adopting online retail as a distribution channel, in a bid to gain a competitive edge in the industry.

Key Takeaways from Market Study

  • Global hiking footwear market to top US$ 25 Bn by 2031.
  • Hiking shoes projected to reach around US$ 12 Bn by 2031.
  • Approach shoes projected to record above 3% CAGR over next 10 years.
  • Market in Europe holds share of more than 40%.
  • Market in India expected to reach valuation of US$ 1.3 Bn by 2031.
  • Market in France to record 2.5% CAGR over forecast period of 2021- 2031.

“Lifestyle of the urban population worldwide has been witnessing continuous alternations, with increasing participation in adventure tourism as well as leisure vacations. This has further led to tremendous surge in the requirement for equipment for adventure trips, including hiking footwear,” says a Fact.MR analyst.

Market Competition

Key hiking footwear businesses are using a combination of organic and inorganic techniques to improve penetration across valuable markets. These techniques include brand launches, alliances and agreements with notable hiking footwear suppliers, acquisitions, and the expansion of regional and global distribution networks.

Leading market players are adopting novel strategies such as ground-breaking marketing tactics, opening of new retail outlets, technical developments, and mergers and acquisitions.

More Valuable Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the hiking footwear market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.

The study divulges essential insights on the market on the basis of product type (trail shoes, hiking shoes, hiking boots, mountaineering boots, and approach shoes), design style (low cut, mid cut, and high cut), and sales channel (independent sports outlets, franchised sports outlets, modern trade channels, direct to customer brand outlets, direct to customer online channels, direct to customer institutional channels, and third-party online channels), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).

About the Sports Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned sports team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the sports industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Shubham Patidar

Fact.MR

Consultant – Sports Division

E-mail: Shubham@factmr.com

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Hiking Footwear Market

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Hiking Footwear Market Analysis, By Product Type (Trail Shoes, Hiking Shoes, Hiking Boots, Mountaineering Boots, Approach Shoes), By Design Style (Low Cut, Mid Cut, High Cut), By Sales Channel (Independent Sports Outlets, Franchised Sports Outlets) & Region – Forecast 2021-2031