Press release
Hiking Footwear Market Set to Grow at 3.1% CAGR, Eyes US$ 26.73 Billion by 2033
Increased engagement in adventure sports such as rock climbing, mountain biking, and cave exploring is expected to fuel demand for hiking boots in the coming years. These specialized shoes are essential for protecting feet from the hazards of slippery and debris-covered terrains. Sales of hiking footwear through direct-to-customer online channels are poised for substantial growth, forecasted to rise at a CAGR of 5.1%, reaching US$ 8.63 billion by 2033.
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Versatile Protection and Utility
Hiking footwear serves as a protective barrier for ankles and feet, particularly in rugged terrains. These shoes offer a secure grip and are designed to be lightweight, facilitating effortless movement. The surge in visits to archaeological sites and ancient monuments further fuels the demand for hiking footwear, as visitors navigate through various landscapes during extended exploration periods.
Research and Tourism Dynamics
The increasing number of researchers engaged in forest and wildlife studies contributes to the rising demand for hiking footwear. These shoes offer protection from insects and ensure excellent grip during fieldwork. Additionally, the proliferation of tourist destinations worldwide featuring hiking trails is expected to drive sustained demand for hiking footwear as more individuals engage in outdoor exploration.
List of Key Companies Profiled in The Report
New Balance Inc.
Adidas AG
VF Corporation
Mizuno Corporation
NIKE Inc.
Sketchers USA Inc.
Deckers Outdoor Corporation
Amer Sports Corporation
Wolverine World Wide Inc.
Others
Driving Forces Behind the Global Demand for Hiking Shoes
Embracing Hiking as a Popular Outdoor Pursuit
Hiking stands out as a premier outdoor recreational activity, capturing the interest of millions of enthusiasts globally. Particularly popular among the younger demographic, hiking provides unique excitement and thrills. The surge in participants over recent years reflects the growing attraction of this activity, offering individuals a chance to connect with nature and rejuvenate both mind and body.
Government Initiatives to Promote Outdoor Activities
Governments worldwide are taking proactive steps to manage hiking trails and recreational spots, aiming to foster a culture of outdoor engagement. Hiking emerges as a cost-effective pursuit, requiring minimal investment in equipment or high-end leisure services. Consequently, the rising demand for trekking and hiking shoes, coupled with the widespread use of well-designed footwear for hiking, contributes to the increasing sales of mountaineering boots, fostering the hiking shoes market growth.
Thriving Adventure Tourism Industry in Various Regions
The substantial growth witnessed in the adventure tourism industry presents significant opportunities for key players in the target market. Adventure travel is increasingly integral to the overall tourism experience, with consumers seeking authentic and unique encounters in an ever-globalizing world.
Younger travellers, in particular, seek distinctive adventure experiences by exploring challenging and remote destinations such as mountains, canyons, and sub-tropical ranges. While adventure travel requires a comprehensive understanding of hiking protocols and physical fitness, the rising engagement of individuals in adventure activities fuels the demand for a diverse range of hiking footwear.
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Competitive Landscape
Leading providers of hiking footwear are dedicated to enhancing their supply chain management systems, delivering and innovating top-notch products, and upholding stringent product standards.
Market participants are executing diverse strategic moves such as acquisitions and mergers to extend their global presence.
As an illustration, in August 2019, Lowa completed the acquisition of Rika Sports S.r.l., an Italian manufacturer of sports footwear, including hiking wear. This strategic acquisition is anticipated to contribute to Lowa's expansion by bolstering its workforce and further solidifying its position in the market.
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