Quality and solid footwear are ideal for hiking as an individual spends maximum hours walking in various terrains. Hiking footwear refers to shoes that are specially designed to protect the feet and ankles during hiking or trekking. These shoes have thick and rugged soles that are appropriate for treading uneven terrains. Hiking footwear offers good functionality and weathering, and is convenient for long distance travel. It is water resistant and possesses high durability.
Adventure tourism has expanded exponentially across the globe over the last few years. Development of the travel and tourism sector has also boosted adventure tourism. An individual is more likely to combine leisure with adventure sports. This increased the popularity of hiking. Major activities in adventure tourism include hiking, scuba diving, cycling, and climbing. Increasing number of people are engaging in these adventure activities. Therefore, governments of various countries are also adopting key strategies to promote adventure activities.
Hiking is an aerobic activity that reduces the rate of heart diseases, and controls blood pressure and cholesterol. Demand for hiking products has been rising owing to the growing popularity of hiking. Renewed interest in adventure sports is driving the hiking footwear market. Hiking footwear allows grip on rough surfaces and prevents slippage on downhill terrains. These shoes offer stiffness, more support, and tread. Water resistance is an important reason for the rising demand for these shoes. Introduction of colorful or well-designed hiking footwear is attracting new consumers into this market. Hiking footwear manufacturers are trying to balance in between the hiking and the gym footwear to manufacture hiking footwear with running-shoe technology.
Lack of awareness among consumers about hiking footwear is the major restraint of the hiking footwear market. It is difficult to convince customers to spend their money on hiking footwear when they can use regular shoes for hiking. Furthermore, the price of hiking footwear can pose a challenge to the market. Hiking footwear are costlier than the regular shoes. Lack of esthetics is another challenge facing the hiking footwear market. Hiking footwear has less attractive designs; therefore, customers with penchant for design do not prefer hiking footwear.
The global hiking footwear market can be segmented based on product type, design type, sales channel, and geography. In terms of product type, the market can be classified into trail shoes, hiking shoes, hiking boots, and mountaineering boots. The hiking shoes segment is expected to hold the major share of the market in the near future. Based on design type, the market can be divided into low cut, mid cut, and high cut. Low cut footwear is more sought after across the globe. In terms of sales channel, the hiking footwear market can be bifurcated into online and offline channel. Based on end-use, the market can be split into men, women, and kids. Geographically, the market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Europe is anticipated to be a highly attractive region of the hiking footwear market during the forecast period due to the higher adoption and penetration of hiking footwear compared to that in other regions. Trekking in more common amongst people in Europe as compared to people in the Americas. North America is estimated to be the second largest market, followed by Asia Pacific, during the forecast period.
Key players operating in the hiking footwear market include Skechers USA Inc., Amer Sports Corporation, Merrell, Adidas AG, Nike Inc., and Puma SE. Other prominent players are New Balance Inc., VF Corporation, Lowa Sportschuhe GmbH, Zamberlan USA, La Sportiva, Under Armour Inc., and Mizuno Corporation.
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