LONDON--(BUSINESS WIRE)--The gumboots market is likely to experience steady growth because of new product launches and an increase in online retail sales. Rising at a CAGR of almost 4%, the market is estimated to have an incremental growth of USD 180.67 million by 2024. Download Free Sample Report
A Technavio analyst says, "The spread of COVID-19 will have a negative impact on the growth of the global gumboots market. The extension of containment efforts has severely impacted businesses and economic activities worldwide. If the spread of the novel coronavirus is not controlled by June 2020, the market might witness a significant downsurge compared to our base estimate".
Technavio’s recent analysis of the gumboots market, includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities. The study segments the markets in Europe, North America, APAC, South America, and MEA, geographically. The European region is expected to have a market share of 37% and will provide significant growth opportunities for market players during the forecast period.
For further information on this analysis, please visit: https://www.technavio.com/report/gumboots-market-industry-analysis
The presence of counterfeit products and the fluctuating raw material prices might hamper market growth. However, changes in weather conditions will positively influence the growth of the global gumboots market.
Technavio’s analysis of the gumboots market also includes:
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive the gumboots market growth during the next five years
- Precise estimation of the gumboots market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the gumboots market industry across Europe, North America, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape
- Comprehensive details of factors that will challenge the growth of gumboots market vendors
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