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Tactical Footwear Market to Reach $2.9 Billion, Globally, by 2031 at 6.2% CAGR: Allied Market Research
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Prime determinants of growth
The global tactical footwear market is expected to grow significantly in the coming years, driven by factors such as an increase in demand from military & law enforcement agencies, a rise in interest in outdoor activities, and advancements in materials & manufacturing technologies. However, tactical footwear production affects the environment, which in turn, restrains the market growth. Moreover, a rise in investment by major players to deliver quality trademark products to enhance precision, speed, safety, and performance in the field acts as a key driving force of the global tactical footwear market.
Covid-19 Scenario
The outbreak of the Covid-19 pandemic had a moderate impact on the global tactical footwear market.
The shutdown of retail shops and disruption in the distribution chain affected the sales of tactical footwear.
Stringent regulations including nationwide lockdown and restriction on the movement led to disruption in the supply chain as well as a constraint on personnel movement.
However, the tactical footwear market is quickly reaching its pre-COVID levels, and a healthy growth rate is expected during the forecast period driven by the economic revival in most of the developing nations.
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The boots segment to maintain its leadership status throughout the forecast period
Based on product type, the boots segment held the highest market share in 2022, accounting for more than two-thirds of the global tactical footwear market revenue and is estimated to maintain its leadership status throughout the forecast period. Boots are sturdy, strong, and durable, which make them ideal for use in unfavorable conditions such as extreme snowfall and heavy rainfall, which fuel their demand. However, the shoes segment is projected to manifest the highest CAGR of 6.8% from 2022 to 2031. As they are frequently slick and fashionable, tactical shoes are a popular option for everyday wear. There is something to suit everyone's taste because they are available in a variety of colors and styles.
The men segment to maintain its leadership status throughout the forecast period
Based on end use, the men segment held the highest market share in 2022, accounting for more than four-fifths of the global tactical footwear market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the high demand for quality performance in harsh circumstances while remaining comfortable and agile on the wearer's feet among mens. However, the women segment is projected to manifest the highest CAGR of 7.5% from 2022 to 2031. This is attributed to the rising demand for fitness and healthy lifestyle in social environment among women.
The business-to-business segment to maintain its lead position during the forecast period
Based on sales channel, business to business segment held the highest market share in 2022, accounting for nearly three-fifths of the global tactical footwear market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the high demand for footwear in the armed force and police services. However, online stores is projected to manifest the highest CAGR of 9.5% from 2022 to 2031. This is attributed to easy availability and the benefits such as information about the attributes of the products, time-saving features, and the facility of home delivery provided by online platform.
North America to maintain its dominance by 2031
Based on region, North America segment held the highest market share in 2022, accounting for nearly two-fifths of the global tactical footwear market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the presence of key players and the surge in demand from people participating in adventurous activities in the region. However, Europe is projected to manifest the highest CAGR of 7.0% from 2022 to 2031. The demand for tactical footwear has witnessed an upsurge in Russia and Ukraine as well as in other European countries.
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Leading Market Players: -
Adidas AG
Apex Global Brands
Asics Corporation
Belleville Boot Company
Garmont International S.r.l.
Maelstrom Footwear
Nike, Inc.
Puma SE
Under Armour, Inc.
5.11 Tactical
Military 1st
McRae Footwear
RNS Footwear Pvt. Ltd.
Qingdao Glory Footwear Co. Ltd
Elten Gmbh
The report provides a detailed analysis of these key players in the global tactical footwear market. These players have adopted different strategies such as collaborations, merger, partnership and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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