Analysis of Hiking Footwear market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global hiking footwear market, the market reached a valuation of around US$ 18 Bn in 2020, which amounts to around 4% share of the overall footwear market.
|Hiking Footwear Market Size (2020)||US$ 18 Bn|
|Sales Forecast for Hiking Footwear (2031)||US$ 25 Bn|
|Global Market Growth Rate (2021 to 2031)||3% CAGR|
|Share of Top 5 Hiking Footwear Companies||40%|
Hiking footwear sales are slated to increase at a CAGR of 3% to top US$ 25 Bn by 2031. Demand for hiking shoes is set to increase faster at a CAGR of 4% across the assessment period of 2021 to 2031.
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As per Fact.MR, a market research and competitive intelligence provider, the global market for hiking footwear was valued at US$ 18 Bn in 2020.
Hiking footwear offers high functionality and great weathering resistance, and therefore, is useful for trekking long distances. Adventure tourism has been witnessing tremendous surge over the past couple of years. There is growing inclination towards combining leisure with adventure, owing to increasing popularity of hiking, scuba diving, and rock climbing.
Several government organizations in collaboration with the United Nations World Tourism Organization (UNWTO) are also promoting adventure sports. These factors have also rubbed off on the popularity of hiking, with more people around the globe indulging in this health and wellness activity.
This has led to increased demand for various hiking products, such as backpacking tents, water bottles, and hydration gear, and hiking boots. As demand evolves, consumers are looking for advanced and eco-friendly equipment.
Latest trends in hiking footwear with running-shoe technology, growing demand for premium hiking footwear, and rising sales of men's hiking shoes & boots and women's hiking footwear are fueling overall hiking shoes market growth.
All of these factors are expected to drive the market at a 3% CAGR across 2021 to 2031 and raise the popularity of the market for trekking footwear.
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Hiking is a popular outdoor recreational activity, which has been drawing the attention of millions of hiking enthusiasts all over the world. It offers a distinct thrill and excitement that is looked for, particularly by the youth population.
Over the years, the number of participants has consistently increased and this trend is likely to continue during the review period. For many, such activities are an escape route from the fast-paced lifestyle. Hiking is often considered as a way to get closer to nature, revitalize the body and mind, and have social interactions.
Governments in many countries have taken initiatives to manage hiking trails and spots to encourage the public towards outdoor activities. Unlike many other outdoor activities, hiking is pocket-friendly as it does not involve world-class leisure services or extensive expenditure on equipment.
Hence, growing demand for hiking and trekking shoes, rising sales of mountaineering boots, and growing use of well-designed hiking footwear for hiking are driving the hiking and trail footwear market growth.
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Growth of adventure travel and tourism is creating opportunities for market players and is expected to boost the sales of hiking and trail running footwear. Today, adventure travel has become a crucial segment of tourism experience. As the world moves towards a more globalized milieu, consumers are increasingly scouting for authentic experiences.
This has provided an impetus to adventure tourism. Younger travelers are more enthusiastic about the unique adventure travel experiences offered by remote or difficult-to-reach destinations such as mountains, sub-tropical ranges, and canyons. However, adventure travelling requires physical fitness and an understanding of hiking rules that need to be followed.
Top hiking shoe brands, top distributors of hiking footwear, and key players operating in the market are expected to boost the demand for hiking footwear.
The hiking and trekking footwear market is hampered by lack of customer awareness regarding hiking footwear. Customers are tough to convince to purchase hiking and trail running footwear when they can hike with their usual shoes.
Furthermore, the cost of hiking boots may lead to a sales barrier. Hiking and trekking shoes are more expensive than conventional shoes. Premium hiking footwear has less appealing designs, thus buyers that value design will not choose hiking footwear.
Another issue that the trekking shoes industry faces is a lack of aesthetics.
Europe is estimated to remain the most attractive market for hiking footwear. Revenue in the European regional market is projected to increase 1.4X by 2031.
Increased acceptance and penetration of mountaineering boots in Europe than in other regions, it is expected to be a very attractive region of the hiking footwear market throughout the forecast period.
Due to the presence of stunning mountain sites such as Poland's Eye of the Sea, Italy's Dolomites, Switzerland's Stanserhorn, and others, the market in Europe is expected to develop significantly over the forecast period.
Majority of these locations have been conserved for hiking reasons, and they play an important part in the rising popularity of well-designed hiking footwear. Additionally, the region hosting the Hiking World Championship, which attracts hikers from all over the world, contributes to market growth.
The U.S dominates the global market for hiking footwear in terms of revenue. The market is expected to increase 1.2X by 2031.
Increased popularity of outdoor activities in the United States, such as bird watching, wildlife photography, camping, river rafting, and others, contributes to the sales of low cut hiking footwear.
Presence of manufacturers of hiking footwear in the U.S., latest trends in hiking footwear, and rising sales of trail shoes are driving the market growth.
In addition, the gorgeous national parks of the country drew a large number of visitors. As a result, these locations require hiking to enjoy the breathtaking views, and this acts as one of the key aspects for market growth in the U.S.
China is a potential goldmine for global retail brands, given the high spending capacity in the country brought about by changing consumer lifestyles and an increasing millennial population with diversified purchase habits.
Increase in adoption of outdoor sports and recreational activities is driving the market growth in China. Rapid urbanization and growing preference to adopt a western lifestyle or brands, especially in the middle class and rich society in the country are expected to boost the demand for hiking footwear in China.
Adventure tourism policymakers and practitioners in China increasingly adhere to sustainable environmental practices for maintaining pristine environments and meaningful cultural experiences, thereby attracting more tourists. These factors will proliferate hiking in the country, thereby creating high demand for mid cut hiking footwear.
Demand for hiking shoes is expected to increase by 1.5X over the forecast period.
Hiking shoes are designed to provide a balance between hiking boots and trail running shoes. Hiking shoes are highly durable and protective. Major manufacturers offer various models, including both, waterproof hiking footwear and non-waterproof trekking shoes as well. Hiking shoes are mostly used for hiking, long-distance lightweight hiking, day hikes, and moderate backpacking.
Which Distribution Channel is Considered Ideal for the Sales of Hiking Shoes & Apparel?
Availability of leading hiking footwear brands across e-Commerce platforms has been gaining significant momentum.
With globalization and rise of the Internet, online shopping has become a huge part of hiking footwear. Third-party online channels are also displaying high sales figures, especially following the onset of the COVID-19 pandemic.
Attractive discounts are responsible for the soaring sales of hiking footwear through the third-party online channels. Prominent players in the hiking footwear market are collaborating with popular e-commerce platforms to increase exposure to their product offerings.
High penetration of the Internet and rise in dependence on online and mobile shopping are expected to boost sales through the third-party online channels. Third-party online channels are growing rapidly as discount deals combine with convenience in the market for hiking footwear.
COVID-19 has caused damage to numerous businesses around the world. The pandemic affected every business and had an impact on high cut hiking footwear sales as well. Similarly, the manufacturing sector shrunk as a result of a demand-supply gap that stifled firm expansion.
Despite the decline in physical hiking footwear sales, expanding usage of virtual technologies will improve online purchasing of hiking footwear brands among customers, and sales are predicted to gradually increase in the post-COVID-19 period.
|Historical Data Available for||2016-2020|
|Market Analysis||Value in US$ Mn, Volume in Units|
|Key Regions Covered||
|Key Countries Covered||
|Key Market Segments Covered||
|Key Companies Profiled|
|Pricing||Available upon Request|
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The global hiking footwear market is currently worth more than US$ 18 Bn.
From 2016-2020, sales of hiking footwear registered a sluggish CAGR of 1%.
Increasing number of people engaging in adventure activities is driving demand for hiking footwear and apparel.
The market for hiking footwear is expected to rise at 3% CAGR from 2021-2031.
Skechers USA Inc., New Balance Inc., VF Corporation, Deckers Outdoor Corporation, and Wolverine World Wide Inc. are some of the renowned hiking footwear suppliers.
With 40% global market share, Europe will largely contribute to the growth of hiking footwear revenue.
Sales of hiking footwear in the U.S. will most likely rise at a CAGR of 2% over the next ten years.
Hiking shoes continue to be the highest revenue-generating segment, accounting for 45% of global revenue.
Sales of hiking footwear in Germany are forecasted to top US$ 1.7 Bn by 2031.
The U.S., China, Germany, India, and France are expected to drive most of the demand for hiking footwear.
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