Boot Market Size Analysis, Segmentation, Industry Outlook, and Forecasts, 2022
Global boot market is anticipated to witness an exponential growth in the forecast period. Boot is one of the widespread footwear of shoe. It covers the lower leg and whole foot and used to protect leg and foot from snow, water, and industrial constituents such as chemicals. However, lately, it is also used for fashion and style purpose.
The factors that propel the growth of the market include growing influence of fashionable fashion boots, increasing awareness regarding the benefit of boots, high technical acceptance in established countries like Canada, U.S., and France, increasing popularity of online sales, and presence of several distribution channels. On the other hand, there are factors that may hamper the growth of the market including lack of awareness and low quality of the product.
Boot market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Market could be explored by type, material, application, distribution channel, and geography. Market could be explored by type as Work boots, Sports boots, Military boots, Equestrian boots, and others.
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Based on the material, the market could span Plastic, Leather, Rubber, Polyurethane, and Waterproof. The key applications that could be explored in the boot market include Men and Women. Market could be explored by distribution channel as supermarkets and hypermarkets, online channels, independent retail stores, shoe stores, textile retailers, independent retail stores, and departmental stores. The ‘Supermarket and Hypermarkets’ segment led the market in 2016 and will continue to lead in the forecast period. The key factor that may be attributed to the growth of the market includes increasing demand.
Middle East & Africa accounted for the major share of the boot market in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increasing fashion trend, rising consciousness among population, and growing demand from several industries. Middle East and Africa is followed by the Asia-Pacific region owing to increasing demand. Japan is anticipated to change the dynamics and trends of the market in the forecast period.
Some of the key players that fuel the growth of the boot industry comprise Red Dragonfly, Belle, Daphne, AOKANG, ST&SAT, Meermin, and Camel. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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