LONDON--(BUSINESS WIRE)--The global hiking and trail footwear market is expected to post a CAGR of almost 8% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Consumers are increasingly becoming aware of the benefits associated with the use of specialized shoes. This has increased the demand for premium hiking and trail running footwear over the years. With advances in footwear technologies, many established vendors are introducing activity-specific footwear. In addition, factors such as innovations in technical fabrication, design, and product development have also contributed to the premiumization of hiking and trail running footwear. Therefore, increasing premiumization of hiking and trail running footwear is expected to fuel market growth during the forecast period.
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As per Technavio, the rising popularity of eco-friendly footwear will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Hiking and Trail Footwear Market: Rising Popularity of Eco-Friendly Footwear
Increasing consumer preference for environmentally-friendly products, has led many vendors to focus on the development of eco-friendly hiking and trail running footwear. Footwear manufacturers are increasing the use of ethically sourced raw materials such as faux leather and synthetic materials to offer a wide range of eco-friendly and vegan footwear. A few vendors are also offering lightweight eco-friendly products that deliver comparable performance to traditional hiking and trail running footwear. This trend is expected to have a positive impact on market growth during the forecast period.
“Rapid growth in online sales and the rising popularity of maximalist hiking and trail running shoes will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Hiking and Trail Footwear Market: Segmentation Analysis
This market report segments the global hiking and trail footwear market by product (hiking footwear and trail running footwear) and geography (APAC, Europe, MEA, North America, and South America).
The European region led the market in 2018, followed by North America, APAC, South America, and MEA respectively. During the forecast period, the European region is expected to maintain its dominance over the market. This is due to increased participation in hiking and trail running activities in countries such as Germany, France, Russia, and the UK and increasing product premiumization with the introduction of products such as vegan hiking footwear.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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