NEWARK, DELL, Feb. 1, 2023 (GLOBE NEWSWIRE) — In 2023, the global boot market is expected to grow 5.8% to reach US$34.06 billion and reach US$59.8 billion by 2033. It is expected to reach US$50 million.
When consumers adopt trendy designs, the sales of boots increase, resulting in increased sales. In recent years, the popularity of boots as a fashion accessory has increased, and the boot market is expanding rapidly. Fashion awareness, rapid industrialization, and an increasing number of hikers and climbers are driving the global boot market.
The growth of online retailers and the increasing demand for fashionable and comfortable boots have made boots more popular among people of all ages. stimulate people’s purchasing behavior.
Increased fashion awareness, rapid industrialization, and a growing number of hikers and climbers have increased the demand for boots. The boot market is growing with changing consumer tastes for fashionable designs and sales are booming. As consumer tastes change and fashion trends evolve, a better understanding of brands allows manufacturers to create more innovative and enhanced products.
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Key takeaways from market research
- The boots market is expected to register a CAGR of 5.8% during the forecast period.
- From 2017 to 2022, the global boots market will register a CAGR of 3.9%.
- Offline channels dominate the global boot industry, accounting for 68.80% of total revenue.
- By 2023, 55% of global revenue is expected to come from regular boots, accounting for the top market share.
Competitive environment:
Several prominent companies dominate this market. Timberland LLC, Wolverine Worldwide, Woodland Worldwide, Dr. Martens air wearRed Wing Shoe Company, Church & Co. Ltd., RM Williams, Sorel, Belstaff International Ltd., The Frye Company, etc.
Small and medium-sized unorganized players also make up the global market and hold a large share of the market. Most of these established players have extensive distribution networks around the world to reach out to a large customer base, making them important players in the market.
Various strategic initiatives such as product launches, acquisitions, collaborations, event participation, and expansions are being undertaken by major players to drive revenue growth and strengthen their market position.
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Boots Market Segmentation by Category
By product:
- chelsea boots
- regular boots
- military boots
- Safety boots
- others
By distribution channel:
Regional Outlook:
- North America
- latin america
- Europe
- Middle East and Africa
- east asia
Recent developments:
- The collaboration between Vans and Timberland began in December 2022 to mark Half Cab’s 30th anniversary. This partnership created the Half Cab Hiking, which is technically a hybrid between a skate shoe and a hiking boot.
- In December 2022, footwear company Wolverine World Wide Inc. announced that it would begin the process of licensing or selling its own brands, Keds and Wolverine. This was done by judging them as low-revenue contributors. In addition, we have reduced the workforce associated with them.
- Wolverine has partnered with Halo to release a limited edition shoe designed specifically for Halo fans. These shoes feature an UltraSpring cushioning midsole with the number 117 stamped on the outer heel.
- In February 2022, Dr. Martens and A-COLD-WALL collaborated on two classic Dr. Martens boots, the Rikard 8-eye boot and the 3-eye shoe. Reflective side panels feature the A-COLD-WALL logo. These companies have worked together in the past.
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table of contents
1. Executive Summary | Boot Market
1.1.Global market outlook
1.2. Demand Side Trends
1.3.Supply-side trends
1.4.Analysis and recommendations
2. Market overview
2.1. Market Scope/Taxonomy
2.2. MARKET DEFINITION/SCOPE/LIMITATIONS
3. Market Background
3.1. Market dynamics
3.1.1. Driver
3.1.2. Constraints
3.1.3. Opportunities
3.1.4. Trends
3.2. Scenario prediction
3.2.1. Demand in an optimistic scenario
3.2.2. Demand in Likely Scenarios
Report preview: https://www.futuremarketinsights.com/reports/boot-market
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