At 5.3% CAGR Tactical Footwear Market is Expected to Reach $2,574.1 Million

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.

Based on the insights of the CXOs of leading companies, the footwear industry is experiencing a rapid expansion, owing to rise in demand for trendy and comfortable tactical footwear. Rapid urbanization, demographics changes along with increase in demand of boots for military personnel, and surge in demand for boots in industrial and mining sectors fuel the growth of the tactical footwear market. Moreover, consumers consider comfort as an important parameter while choosing appropriate footwear. In addition, consumers presently are ready to indulge in stylish and comfortable footwear. Thus, all these factors are expected to contribute toward the growth of the overall market during the forecast period.

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Key benefits for stakeholders

The report provides quantitative analysis of the current tactical footwear market trends, future estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing tactical footwear market opportunities.

Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis and the market size & segmentation assist to determine the market potential.

The major countries in each region are mapped according to their revenue contribution to the market.

The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the tactical footwear industry.

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.

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This release was published on openPR.