In the winter, wearing the proper footwear is crucial since it supports, protects, and keeps feet warm in frigid environments. Additionally, customers seek comfortable winter footwear that meets their needs. The local businesses that sell cheaply made shoes dominate the footwear market. On the other hand, while making shoes like winter boots, which are typically sold at premium pricing, international players emphasize comfort level. Affordable pricing and improved designs of footwear at a lower price are predicted to support the industry's overall growth as the demand for stylish yet comfortable footwear rises. Additionally, a number of companies, including Nike, New Balance, and Under Armour, are using 3D printing technology in the manufacture of shoes. Customers are drawn to shoes with these attributes, which are expected to create profitable prospects for market expansion over the course of the forecast period.
However, research from the OECD and the EU Intellectual Property Office indicates that the footwear industry is the one that is most negatively impacted by the counterfeiting issue. Among the companies impacted by fraudulent goods include Nike, Asics, Reebok, Adidas, and Sketchers. Over the past few years, demand for numerous types of winter footwear items has increased. By allowing their products to be branded and making comparable claims about their products, manufacturers in the market are taking advantage of the situation. In reality, though, these products are being pushed and sold by shady outside parties. This has the effect of decreasing client loyalty and, more importantly, the customer base. As a result, the availability of goods eventually prevents the market from expanding as a whole.
One of the most traded commodities on the global market is leather. Textile, furniture, footwear, and interior design are only a few of the numerous global businesses that highly value it. However, one of the most polluting industries is said to be the leather industry. At different phases of production, it produces industrial sewage and solid waste. Chromium and other harmful substances present in tannery waste produced by the leather industry gravely endanger both human health and the environment. Due to the detrimental consequences on the leather sector, governments in countries like India incorporate customs duties to reduce the manufacture and trade of leather items within the nation. Additionally, the great majority of winter footwear products produced worldwide are made of leather. As a result, various regulations and restrictions on the leather industry and its products are predicted to hinder the market expansion for winter footwear.
The winter footwear market is segmented on the basis of type, end-user, distribution channel, and region. Based on type, the market is categorized into boots. shoes and others. According to the end user, the winter footwear market is fragmented into men, women, and children. As per the distribution channel, the market is divided into E-Commerce and offline channels. Moreover, the winter footwear market is further classified into third-level segmentation through the distribution channel. Based on offline channel, the market is classified into hypermarkets/supermarkets, brand outlet, specialty stores and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Switzerland, and the rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, UAE, and the rest of LAMEA).
The major players operating in the global winter footwear are UGG, Hoka, Nike, Adidas, New balance, Salomon, Norse Projects, The North Face, Teva, Merrell, Danner, Ecco, Sorel, Prada, Reebok, Suicoke, Blundstone, Xtratuf, Dr. Martens, Puma.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the winter footwear market analysis from 2021 to 2031 to identify the prevailing winter footwear market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the winter footwear market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global winter footwear market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Boots
- Shoes
- Others
By End User
- Men
- Women
- Children
By Distribution channel
- E-Commerce
- Offline channel
- Sub type
- Brand Outlet
- Hypermarket/Supermarket
- Specialty Store
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Switzerland
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa,
- UAE
- Rest of LAMEA
Key Market Players
- SOREL Corporation
- Nike Inc.
- Deckers Outdoor Corporation
- Danner
- Norse Projects
- Amer Sports Corporation
- New Balance Athletics, Inc.
- Wolverine World Wide, Inc.
- Dr. Martens plc
- Rocky Brands, Inc.
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Table of Contents
Executive Summary
According to the report titled, “Winter Footwear Market," the winter footwear market was valued at $8.6 billion in 2021, and is estimated to reach $13.6 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031.The use of winter footwear for people with functional impairments is also a key consideration in its design. In order to avoid overexposure to the cold during the winter, pedestrians are dressed in layers. The process of getting ready for winter outings can be taxing for people with weak muscles and restricted joint mobility, keeping them inside for months at a time.
Newspaper print, television, and radio advertisements are effective, but they can no longer be the only part of a marketing strategy since modern consumers demand a more individualized experience, and traditional advertising in the digital age comes across as passive. The number of users on various social media platforms has increased along with the growth in internet use. Given this, the bulk of the industry's leading players in the winter footwear market intend to market their products on these social media platforms. Many firms and industries, including the market for wearable products, employ social media marketing to promote awareness of their product offers among their target clients on social media platforms. Because of this, the global market for winter footwear sees social media marketing as a key strategy for gaining traction and subsequently raising brand recognition within its target market.
However, according to studies from the OECD and EU's Intellectual Property Office, the footwear industry is the one that is most affected by the counterfeiting problem. Some of the companies impacted by counterfeit goods include Nike, Asics, Reebok, Adidas, and Sketchers. A growth in demand for various kinds of winter footwear items has been observed during the past few years. Manufacturers in the industry are taking advantage of the circumstance by offering their items to be branded and making similar promises about their features. Contrary to popular belief, third-party vendors are marketing and selling these products. Customers become less loyal, and more significantly, the consumer base is diminished as a result. Because of this, the availability of fake goods slows market expansion.
On the other hand, due to evolving trends and statements, there is a greater interest in footwear among fashion fans. Today's fashion-conscious population relies on footwear as a necessity and as a way to express their personality and sense of style to others. Consumers, irrespective of gender, take into account all aspects before choosing the best pair for them, including design, comfort, sustainability, style, and craft. Also, the market's producers are embracing product innovation to meet consumer demand. Several shoe firms are also growing more and more interested in incorporating innovation throughout their whole business strategy, from enhanced and automated production techniques to new product design methodology. Furthermore, 3D printing and virtual reality are two technological developments that are currently making waves in this industry. The accuracy and efficiency of 3D printers are improving, which lowers production costs. Additionally, VR and AR will improve the shoe-buying experiences of consumers since they will be able to view, touch, and experience shoes in a gratifying and immersive way. Also, a number of companies, including Nike, New Balance, and Under Armour, are using 3D printing technology in the manufacture of shoes. Customers are drawn to shoes with these attributes, which is expected to create profitable prospects for market expansion over the course of the forecast period.
The winter footwear market is segmented into type, end-user, distribution channel, and region. Based on type, the market is categorized into boots. shoes and others. According to the end user, the winter footwear market is fragmented into men, women, and children. As per the distribution channel, the market is divided into E-Commerce and offline channels. Moreover, the winter footwear market is further classified into third-level segmentation through the distribution channel. Based on offline channel, the market is classified into hypermarkets/supermarkets, brand outlet, specialty stores and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Switzerland, and the rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, UAE, and the rest of LAMEA).
The major players operating in the global winter footwear are UGG, Hoka, Nike, Adidas, New balance, Salomon, Norse Projects, The North Face, Teva, Merrell, Danner, Ecco, Sorel, Prada, Reebok, Suicoke, Blundstone, Xtratuf, Dr. Martens, and Puma.
Key Findings of the Study
- By type, the boots segment is estimated to witness significant growth, registering a CAGR of 4.7% during the forecast period.
- By end user, the men segment is anticipated to grow at a CAGR of 4.7% during the forecast period.
- By distribution channel, the offline segment is estimated to witness significant growth, registering a CAGR of 4.6% during the forecast period.
- By region, Europe was the dominant region in 2021, occupying a major share of the market.
Companies Mentioned
- SOREL Corporation
- Nike Inc.
- Deckers Outdoor Corporation
- Danner
- Norse Projects
- Amer Sports Corporation
- New Balance Athletics, Inc.
- Wolverine World Wide, Inc.
- Dr. Martens plc
- Rocky Brands, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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