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Do You Know : Tactical Footwear Market is Expected to Reach $2,574.1 Million

09-14-2021 04:37 PM CET | Sports

Press release from: Allied Market Research

Do You Know : Tactical Footwear Market is Expected to Reach

According to a new report published by Allied Market Research, titled, “Tactical Footwear Market by Product, End Use, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,”

The global tactical footwear market was valued at $1,547.3 million in 2020, and is projected to reach $2,574.1 million by 2030, registering a CAGR of 5.3% from 2021 to 2030. In 2020, the tactical boots segment garnered the highest share in the tactical footwear market, owing to multiple benefits associated with tactical boots such as superior flexibility, high reliability, enhanced breathability, lightweight, slip resistance, sturdy uppers, and quiet soles, which make them more popular, thereby boosting the growth of the global market.

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Moreover, the market growth is driven by the some of the major factors such as rise in the military workforce across the world, surge in demand for lightweight & reliable tactical shoes that can perform effectively in harsh environmental conditions, and increase in demand for tactical footwear from fitness enthusiasts as well as disaster management operators. Over the past few years, the U.S. military has been taking noteworthy steps to build up an inclusive and diverse force, and ending restrictions on military active force has opened the doors of services for women.

Increase in adoption of tactical footwear majorly by law enforcement professionals, firefighters, military service members, and adventure enthusiasts to operate in harsh and extreme climatic conditions are the tactical footwear market trends which is notably contributes toward the growth of the global market. Furthermore, increase in military personnel is a primary factor that fuels the growth of the market. For instance, according to the U.S. Defense Department data, in March 2019, in the Middle East, around 60,000 military troops present in Afghanistan, Iraq, and Syria, and this number is likely to increase in the coming years, which is expected to generate demand for military essentials and tactical boots, thereby fueling the tactical footwear market growth, globally.

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However, the market has witnessed a slight decline during the pandemic, owing to stringent restrictions imposed by various nations to contain the spread of COVID-19, which halted the production, thus resulting in disruption of the supply chain. However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities. Moreover, the global markets are gradually opening to their full potential, which is expected to boost the demand for tactical footwear.

The market would remain lucrative in upcoming year. The global tactical footwear market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

According to the tactical footwear market analysis, the market is segmented on the basis of product, end use, sales channel, and region. By product, the market is divided into boots and shoes. Depending on end use, it is differentiated into men and women. As per sales channel, it is fragmented into supermarket/hypermarket, online stores, specialty stores, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

By product, the tactical boots segment acquired the maximum tactical footwear market share, owing to wide spread usage of boots in the military personnel, as this footwear offers prolonged durability and enhanced stability in tough circumstances.

Increase in demand for fancy yet comfortable footwear at affordable pricing is expected to boost the overall growth of the industry. Moreover, various footwear brands such as Nike, New Balance, and Under Armour are adopting 3D printing technology in footwear production. Such features attract the attention of large customer base, which is projected to provide lucrative opportunities for market expansion during the forecast period.

According to the distribution channel, the supermarket/hypermarket dominated the market and is likely to remain dominant throughout the tactical footwear market forecast period. This is attributed to the fact that consumers prefer buying tactical footwear from supermarket/hypermarket to find the perfect fit. Moreover, the staff present in these stores helps to understand the benefits and functionality of boots and choose from the available varieties.

Region wise, North America held the major share of 38% of the global tactical footwear market, owing to the presence of key players, surge in demand from people participating in adventurous activities, and strong military sector in the region.

The major players profile in the tactical footwear market report include Adidas AG, APEX Global Brands, Asics Corporation, Belleville Boot Company, Garmont International S.r.l., Maelstrom Footwear, Nike, Inc., Puma SE, Under Armour, Inc., and 5.11 Tactical.

Key Findings Of The Study

By product, the boots segment held the highest share, accounting for 67.7% of the global industry in 2020.

Based on end use, the men segment held the major share of 88.2% of the Tactical Footwear market in 2020.

Based on sales channel, the online stores segment witness an exponential growth rate of 6.0% during the forecast period

North America held the major share in the market and is expected to remain dominant during the forecast period.

Related Reports:

Europe Athletic Footwear Market : https://www.alliedmarketresearch.com/europe-athletic-footwear-market

India Industrial Protective Footwear Market : https://www.alliedmarketresearch.com/india-industrial-protective-footwear-market

Motorcycle Footwear Market : https://www.alliedmarketresearch.com/motorcycle-footwear-market-A06494

Sports and Fitness Clothing Market : https://www.alliedmarketresearch.com/sports-fitness-clothing-market

India Sports Apparel Market : https://www.alliedmarketresearch.com/india-sports-apparel-market

Alternative Sports Market : https://www.alliedmarketresearch.com/alternative-sports-market

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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