The global boot market is estimated to reach USD 34.06 billion in 2023 and grow by 5.8% between 2023 and 2033. By 2033, the market is expected to surpass USD 59.85 billion.
Demand for hiking and mountaineering products is being driven by factors such as increasing fashion awareness, rapid industrialization, and the rise of hikers & mountaineers. Boot sales grow as consumers adopt fashionable designs, resulting in increased product sales.
In recent years, boots have become increasingly popular, as fashion accessories have caused the market worldwide to grow rapidly. Increasing fashion consciousness, rapid industrialization, and an increasing number of hikers and mountaineers drive the global market. This is mainly driven by the increasing demand for fashionable, comfortable boots among people of all ages.
Boots are gaining from consumer purchasing behavior that is being stimulated by retail channels providing footwear, and the growing popularity of online retailers.
Changing consumer preferences for fashionable designs results in high product sales, which results in growth in the boots market. As consumer preferences change and they adapt to fashion trends, manufacturers can come up with more innovative and enhanced products. This is a result of increasing knowledge of brands.
Small and medium-sized businesses dominate the market, particularly those in unorganized markets.
As SMEs are more flexible and have lower investment potential, this market framework can be both an advantage and a disadvantage. The increasing awareness of fashion has been a demand-driving factor for the boot industry.
| Attributes | Details |
|---|---|
| Boot Market Value (2023) | USD 34.06 billion |
| Boot Market Expected Value (2033) | USD 59.85 billion |
| Boot Market Projected CAGR (2023 to 2033) | 5.8% |
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The global boot market expanded at 3.9% CAGR over the past ten years. The market is expected to expand at a CAGR of close to 5.8% over the forthcoming decade. Due to this shift, online footwear sales gained traction after the pandemic, as consumers found online shopping convenient and time-saving.
| Historical CAGR (2017 to 2022) | 3.9% |
|---|---|
| Historical Market Value (2022) | USD 32.2 billion |
| Forecast CAGR | 5.8% |
A Rise in Urbanization Leads to an Increase in Brand Awareness
A key factor driving boot demand globally is urbanization in emerging countries. Rapid urbanization has allowed designers and manufacturers to know their audience more precisely and how to meet their needs.
Demand for different types of boots surged, especially among college students and working women. Students and working women are considered fashion-conscious and tend to wear sophisticated dresses.
Safety is Provided by the Boots
A critical advantage of boots is their height, which allows them to provide appropriate ankle support and cushioning when the user is impacted. In addition to preventing ankle twisting, which can result in strain or bone breakage, support is essential. Moreover, even on a standard-looking path, even a slight pebble can result in uneven ankle flex, which can be prevented by the rigidity of the boot.
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Using the wrong boot size can worsen pre-existing problems, such as arthritis. It can cause unbearable pain in the back or legs. When shoes are poorly fitted, they can result in short-term complications, such as blisters. These fluid-filled vesicles of dead skin are caused by constant friction. They are excruciating, take a few weeks to heal, and may leave a permanent scar on the skin causing discoloration.
In 2023, offline channels accounted for 68.80% of overall revenue, dominating the global boot industry. As physical examination requirements increase, consumers may continue to seek out brick-and-mortar stores to buy boots, largely in part to the fact that consumers prefer offline distribution channels.
Customers also buy boots to ensure the most comfortable fit and comfort. Furthermore, it allows individuals to understand the benefits and uses of shoes, and to choose cushioning and material options accordingly.
Over the years, digitalization has led to a rise in the popularity of online footwear distribution. Online platform demand for boots has been driven by several factors. This includes convenience, access to products from anywhere and anytime around the world, and risk-free payment transactions. The digital presence of brands is becoming increasingly important, so consumers can purchase their boots on their websites and other e-commerce channels.
More than 55% of worldwide revenue is expected to come from the regular boot in 2023, representing the leading market share. The market is expected to expand steadily, maintaining its leading position throughout the forecast. The segment is expected to grow due to the increasing demand for sturdy and comfortable boots. As a result of 3D printing technology advances and the growing middle class, demand for products may also increase.
According to the forecast, the Chelsea Boots segment is expected to grow at the highest CAGR during the forecast period. Chelsea boots are snug-fitting ankle boots with stretchy elastic side panels. Chelsea boots have been essential for many years, both for men and women.
The growing popularity of traditional Chelsea boots among millennials is one of the leading factors driving the growth of this market. The younger generation is leaning toward traditional Chelsea boots. Several manufacturers offer a wide range of products in this category due to its growing popularity.
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Globally, the Asia Pacific market is expected to grow at a substantial rate of over 30.82% during the predicted timeframe. During the period 2023, North America is anticipated to dominate the global boot market, generating more than 37% of total revenue.
North America is the leading regional boot market in the world. It is expected to remain dominant throughout the forecast period due to the high demand for products in countries such as the United States and Canada. As a result of the presence of leading manufacturers, regional boot market growth is fueled by product sales from Timberland, UGG, Red Wing Shoes, and Wolverine.
As a result of the growing demand for trendy and stylish boots in countries such as China and India. Asia Pacific is forecast to be the fastest-growing global boot market. From 2023 to 2033, Asia Pacific is expected to expand at a CAGR of 6.8%.
As middle-class disposable incomes increase in the developing nations of Asia Pacific, the demand for boots is expected to emerge. Additionally, increased industrialization and worker safety regulations may result in a rise in work and safety boots.
In the United States, the population has high disposable income that allows them to afford expensive high-quality boots. Moreover, the increase in fashion-oriented events and competitions is expected to drive the demand.
According to the United States Census Bureau, consumers spent USD 380 billion on footwear and apparel in 2017. In the United States, more than 1.8 million people are employed by the fashion industry, which encompasses everything from apparel and textile brands to wholesalers, retailers, and importers.
As a result of the expanding fashion industry, the demand for boots may surge in the region. The United States market dominated the North American boot market in 2023, achieving a market value of USD 11.5 billion by 2033.
According to forecasts, the United Kingdom may expand at a CAGR of 4.8% in the next ten years, due to the increased use of boots, as disposable incomes rise. Increasing designers, growing government support for the fashion industry, media interest in fashion, and retail investments in innovative designs contributed to robust growth in the United Kingdom boot market.
For example, ASOS, a British online fashion retailer, launched a new sustainable range of vegan boots made from recycled plastic bottles. In the United Kingdom, social media platforms are widely used by consumers to stay informed of the latest fashion trends. This is expected to support the market's demand for stylish boots in the coming years.
In India, the boots market is expected to grow at a healthy CAGR during the forecast period, as disposable income levels of the middle-class rise. Furthermore, rapid industrialization and government safety standards for workers may contribute to increasing demand for work and safety boots.
For instance, the Indian government has mandated the use of safety boots for workers in industries like mining, construction, and manufacturing.
A rapid industrialization process and changing consumer preferences are allowing manufacturers to come up with an array of designs. Fashion trends and brand awareness have also contributed to the variety of designs.
The growing demand for boots due to their durability, comfort, and protection in the workplace has created a massive market opportunity. Companies like Timberland have waterproof work boots designed to protect workers from the elements.
For instance, Timberland’s PRO Hyperion work boot is made of a waterproof leather upper with a waterproof membrane to keep feet dry, and a rubber outsole for increased traction on slippery surfaces.
Since there are many players in the boot market, it is moderately fragmented as players are introducing stylish boots and implementing technological advancements to gain a competitive advantage. In the coming years, the market's growth capacity is likely to be supported by irreplaceable value propositions in product offerings. The key players operating in the global boot market are:
Recent Development:
Key players are focusing on novel and innovative approaches for the development of new boots. The strategy of expansion, new product launches, and approvals, by key manufacturers, is further strengthening the key player presence and staying ahead of the competition.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD billion for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; The Middle East and Africa; East Asia |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Chile, Peru, Germany, United Kingdom, Spain, Italy, France, Russia, Poland, China, India, Japan, Australia, New Zealand, GCC Countries, North Africa, South Africa, and Turkey |
| Key Segments Covered | Product, Distribution Channel, Region |
| Key Companies Profiled | Timberland LLC; Wolverine Worldwide; Woodland Worldwide; Dr. Martens Airwair; Red Wing Shoe Company; Church & Co. Ltd.; R.M Williams; Sorel; Belstaff International Ltd.; The Frye Company |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market was valued at USD 32.3 billion in 2022.
The market is valued at USD 34.06 billion in 2023.
The market recorded 3.9% over the last 4 years.
Offline channels accounts for 68.80% revenue share in 2023.
Asia Pacific region to account for 6.8% growth rate by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Chelsea Boots 5.2. Military Boots 5.3. Hiking Boots 5.4. Regular Boots 5.5. Safety Boots 5.6. All Weather Boots 5.7. Fashion Boots 5.8. Chukka Boots 5.9. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 6.1. Leather 6.2. Rubber 6.3. Plastic 6.4. Polyurethane 6.5. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Online Sales 7.2. Retail Sales 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Timberland LLC 16.2. Wolverine Worldwide 16.3. Woodland Worldwide 16.4. Dr. Martens Airwair 16.5. Red Wing Shoe Company 16.6. Bella Belle Shoes 16.7. Red Wing Shoe Company 16.8. ST&SAT 16.9. R.M Williams 16.10. Belstaff International Ltd. 17. Assumptions & Acronyms Used 18. Research Methodology
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