Hiking footwear is equipped with thick & rugged sole that is well-suited for treading on rough terrains. Hiking footwear is useful for long distance travel, owing to their provision of great functionality and weathering. Hiking footwear is highly durable and water-resistant.
Adventure tourism has been witnessing a tremendous surge over the past couple of years. There is a growing inclination towards combining leisure with adventure, owing to which hiking, scuba diving, and rock climbing.
Several government organizations in collaboration with United Nations World Tourism Organization (UNWTO) are 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. As demand evolves, consumers are looking for advanced and eco-friendly equipment.
The growing popularity of hiking has been favorable for the prospects of the hiking footwear market. Major players in the global hiking footwear market are competing on the basis of weight, durability, weather resistance, price, design innovations, adaptability, and quality of raw materials.
In addition, manufacturers are concentrating on product innovation, and adopting online retail as distribution channel, in a bid to gain a competitive edge in the market.
A new report by Fact.MR anticipated the global hiking footwear market to register a staggering expansion throughout the forecast period 2017 to 2022. Global sales of hiking footwear are expected to reach nearly US$ 7,000 Mn in revenues by 2022-end.
Europe & North America- Lucrative Markets for Hiking Footwear
Europe is estimated to remain the most attractive market for hiking footwear, and is projected to create an absolute $ opportunity of over US$ 2,000 Mn during 2017 to 2022.
North America will continue to be the second largest market for hiking footwear. Growing interest in the outdoor recreational activity among people will drive the market growth in Europe and North America. The hiking footwear market in Asia-Pacific excluding Japan (APEJ) is poised to exhibit the highest CAGR through 2022.
Based on product type, sales of hiking shoes and approach shoes are expected to exhibit a parallel expansion at 26% CAGR through 2022. Hiking shoes will continue to be the most lucrative product, accounting for over one-third revenue share of the market over the forecast period.
Direct to customer institutional channel are projected to remain the largest sales channel for hiking footwear across the globe, followed by franchised sports outlet. However, sales of hiking footwear in third party online channel are poised to register the fastest expansion through 2022.
Based on design style, low-cut hiking footwear will remain sought-after among consumers around the world, with sales estimated to exceed US$ 30,000 Mn in revenues by 2022-end.
Mid-cut design of hiking footwear will account for a relatively lower revenues than low-cut design hiking footwear, however sales of mid-cut design hiking footwear will register the highest CAGR through 2022.
Know More Details About the Report
The report by Fact.MR profiles key market players, which include
- Skechers USA Inc.
- New Balance Inc.
- VF Corporation
- Deckers Outdoor Corporation
- Wolverine World Wide Inc.
- Amer Sports Corporation
- Under Armour Inc.
- Adidas AG
- NIKE Inc.
- Mizuno Corporation
- PUMA SE.
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Major players in the global market for hiking footwear are focusing on adoption of online retail as the distribution channel, and are developing innovative products.
Adventure tourism, and leisure vacations have surged in number over the past few years, leading towards demand for products such as hiking footwear.
The report, compiled by Fact.MR, provides in-depth analysis of the global hiking footwear market for the forecast period 2017-2022, and offers key insights about future market direction.
The scope of Fact.MR’s report is to analyze the global hiking footwear market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis.
Hiking footwear manufacturers, stakeholders, and suppliers in the global sports industry can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and sports journals.
The report commences with a brief information of the global hiking footwear market. This executive summary sets the tone for the rest of the report, providing users the scope of the report.
The executive summary includes important facts and statistics on the global hiking footwear market.
The next section offers an overview of the hiking footwear market. This comprises an introduction to the market, along with a standard definition of the product – hiking footwear.
In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global hiking footwear market, the report provides updates about market opportunities, which can benefit leading manufacturers of hiking footwear.
With continuous evolution of the sports industry, keeping a record of latest developments and trends is fundamental for hiking footwear manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.
Considering wide scope of the global market for hiking footwear, and to provide in-depth insights, Fact.MR’s report offers segment-wise analysis and forecast.
The global hiking footwear market has been segmented based on sales channel, product type, design styles, and region. This segmentation analysis is comprehensive, along with a detailed country-wise forecast provided on all parameters.
The report’s last section comprises of the global hiking footwear market competitive landscape, to provide readers with the dashboard view of company analysis and market players.
This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global hiking footwear market.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research.
We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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