According to a recent study of the global hiking footwear market by Fact.MR, the market will reach a valuation of approximately $18 billion in 2020, which equates to approximately 4% share of the overall footwear market. Hiking Shoes sales are projected to exceed $25 billion by 2031, growing at a CAGR of 3% . The demand for hiking shoes is projected to grow faster, at a CAGR of 4% during the assessment period 2021-2031 .
The latest market research report analyzes the hiking shoes market demand by different segments. It provides business leaders with insight into hiking footwear and ways to increase market share.
Click here to get sample report (with full TOC, tables and figures):- https://www.factmr.com/connectus/sample?flag=S&rep_id=232
Key Takeaways from Market Study
- Global hiking footwear market to top US$ 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.
Key Segments Covered in Hiking Shoes Industry Research
- trail shoes
- hiking shoes
- hiking boots
- hiking boots
- approach shoes
- low cut hiking shoes
- mid cut hiking shoes
- high cut hiking shoes
- Selling hiking shoes through independent sports outlets
- Selling Hiking Shoes Through Franchise Sports Outlets
- Selling hiking shoes through modern trade channels
- Selling hiking shoes through direct sales of customer brand outlets
- Selling hiking shoes through customer online channels
- Selling hiking shoes through customer agency channels
- Selling hiking shoes through third-party online channels
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.