The global boot market size is expected to reach USD 58.46 billion by 2032, according to a new study by Polaris Market Research. The report “Boot Market Share, Size, Trends, Industry Analysis Report By Product (Chelsea Boots, Regular Boots, Military Boots, Safety Boots, Others); By Distribution Channel; By Material; By Region; Segment Forecast, 2023 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Rapid industrialization has contributed to the industry’s growth. Due to their durability, comfort, and protection in the workplace, boots are becoming more and more popular, which offers enormous growth potential. Manufacturers have been able to create designs that are on trend thanks to shifting consumer preferences, adapting fashion trends, and rising brand awareness.
Manufacturers have created a range of styles as a result of shifting consumer tastes, adjusting to fashion trends, and rising brand awareness. The sector has also been growing as a result of the quick industrialization. Due to their comfort, protection, and durability in the workplace, boots are in greater demand, which has vastly expanded the market’s potential. The COVID-19 epidemic severely disrupted the supply chain, forcing businesses and well-known brands to move their operations online.
With consumers finding online shopping to be simple and time-saving after the pandemic, this move allowed online footwear sales to flourish. The market is primarily driven by the expanding number of hikers worldwide, shifting fashion tastes, and intensifying industrialization. Small and medium-sized businesses, especially those engaged in un-organized trade, dominate the market. Due to their greater flexibility but limited investment capability, SMEs might have both advantages and disadvantages from this market structure. One of the main demand-creating factors for this industry has been rising fashion awareness.
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The industry is significantly impacted by these well-established firms because the bulk of them have extensive robust supply chain networks to reach their sizable consumer bases. The major players are concentrating on strategic activities, such as product releases, mergers & acquisitions, collaborations, & expansions, to boost revenue growth and strengthen their market positions.
Industry-specific footwear is becoming a focus for businesses, as it helps users do jobs more accurately and increases efficiency. The growing use of shoes in several sectors, including the food, pharmaceutical, and transportation industries, is driving up demand for boots worldwide. The healthcare sector’s increased adherence to safety regulations during the pandemic has supplied the market.
Boot Market Report Highlights
- Chelsea Boot segment is anticipated to grow at a high CAGR over the forecast period owing to the rising desire for traditional chelsea boots among millennials.
- Leather Boot segment accounted for highest share of the global market owing to its advantages over other material such as insulation and durability.
- Offline sector is expected to have reasonable share due to the consumer preferences for best fit and comfort and requirement for physical examination
- Asia Pacific is expected to grow at a high CAGR over the projected period on account of the increasing demand for trendy and stylish boots in countries, like China and India
- The global players include Timberland, Wolverine Worldwide, Woodland Worldwide and Red Wing Shoe Company.
Polaris Market Research has segmented the boot market report based on product, material, distribution channel, and region:
Boot, Product Outlook (Revenue – USD Billion, 2019 – 2032)
- Chelsea Boots
- Military Boots
- Hiking Boots
- Regular Boots
- Safety Boots
- All Weather Boots
- Fashion Boots
- Chukka Boots
Boot, Material Outlook (Revenue – USD Billion, 2019 – 2032)
Boot, Distribution Channel Outlook (Revenue – USD Billion, 2019 – 2032)
Boot, Regional Outlook (Revenue – USD Billion, 2019 – 2032)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa