Hiking Footwear Market Size, Share & Industry Analysis, By Product Type (Hiking Boots, Trail Shoes, Hiking Shoes), By Design (Low Cut, Mid Cut, High Cut), By Sales Channel (Hypermarket/Supermarket, Shoe Stores, Online Stores) And Regional Forecast, 2024-2032

Hiking footwear is specially made to help protect the feet and ankles while walking in rough terrain. It also provides a good grip, retains the feet dry, and is also light enough to move effortlessly. The rising number of people involved in adventure sports such as mountain biking, rock climbing, cave exploring, and others helps to increase the demand of the product as it helps to safeguard the foot from debris, and slippery landscape. Furthermore, ancient monuments and archaeological sites receiving an increasing number of visitors also generate traction for the product as it usually requires long hours of walking to explore those places. Additionally, the rising number of researchers who did a study on forest and wildlife also elevates the use of the product as it provides them with excellent grip and protects them from insects, germs, and debris which can harm their foot.

The rising number of tourist hotspots around the world which offers hiking places for tourists assist to elevate the consumption of hiking footwear and thus acts as a driving factor for the market growth. The growing usage of hiking footwear by people who are hunting, fishing, and spend days and nights in the rough condition of the wilderness also contribute to the upsurging demand. According to the Outdoor Industry’2019 Special Report on fishing’, the assessment of the participation of fishing in 2018 in the United States is projected to be 49.4 million people. Furthermore, there is increasing usage of the product by fitness enthuses who are exercising in nature as it prevents them from slipping.

The rising consumption of substitute product such as running shoes, regular boots, and others for hiking purposes act as a restraining factor for the market growth.

Key Market Driver -

The escalating number of tourist destination offering hiking places act as a driving factor for the market growth.

Key Market Restraint -

The availability of substitute products act as a hampering factor for the market growth

Key Players Covered: 

Wolverine World Wide, Adidas AG, Amer Sports Corporation, NIKE, Inc., Mizuno Corporation, New Balance, Inc., Under Armour, Inc., PUMA SE, are the key player functioning in hiking footwear market.

The hiking footwear market is segmented into by product type, by design, by sales channel, and by geography.

On the basis of product type, the market is grouped into hiking boots, trail shoes, and hiking shoes. Hiking boots are projected to be the dominating segment owing to better safeguarding the feet from rocks and debris on the track. Also, hiking boot assists to maintain the dryness of the feet and possessed a good grip to prevent from falling.

Based on the design, the market is fragmented into low cut, mid-cut, and high cut. Mid- Cut is estimated to be the dominating segment owing to offering better ankle support than low- cut which is crucial while carrying a heavy backpack. Similarly, the high collar effective in removing pebbles and dirt while still being more comfortable to wear as compared to high cut.

By the sales channel, the market is divided into hypermarket/supermarket, shoe stores, and online. The shoe store is anticipated to hold the largest share as they focus mainly on selling one type of product with a wide range from high quality to low and medium. Likewise, the consumer also has a better chance of identifying a counterfeit product as compared to online stores which thus propels the increase in consumption in this channel.

Regional Analysis:

On the basis of region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

North America is anticipated to hold a major share in the hiking footwear market and is expected to continue all through the forecast period of 2020-2027. The increasing number of people in this region participating in outdoor activities such as bird watching, wildlife photography, camping, river rafting, and others also contribute to the rising consumption of the product. According to the data issued by the Outdoor Foundation,2018, there is an estimation of 146.1 million, or 49% of the United States population are projected to be participating in outdoor activities in 2017. Additionally, the region’s beautiful National Parks such as the Grand Canyon, Acadia, Yosemite, and others attracted lots of people to the place. Thus, these places require hiking to experience the beautiful views that it offers and thus this act as one of the flourishing factors for the market growth.

Europe is projected to exhibit significant growth during the forecast period owing to possessing beautiful mountain sites such as Eye of the Sea of Poland, The Dolomites of Italy, Stanserhorn of  Switzerland, and others. Most of these places are preserved for trekking purposes and do play a crucial role in the increasing demand for the product. Additionally, the region hosting the Hiking World Championship where people from all over the world are participating also helps to boost the market growth. For instance, in September 2018, the Hiking World Championship was held in the Wildschönau valley in Austria. In this championship, each participant who completed three routes is awarded a certification.

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Segmentation

Key Industry Developments-

• In August  2019, Lowa announced its acquisition of Rika Sports S.r.l. which is  an Italian sports footwear  producer including hiking wear. The acquisition is anticipated to result in Lowa’s upsurging the labor force from 250 to more than 2 000.


• In July 2019, Run247  declared the the introduction of new Cloudrock hiking boot. This product is a waterproof membrane which safeguards from  wind and water but still allows the feet breathe.