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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Hiking Footwear Market Analysis by Region
North America leads the market, driven by the increasing popularity of hiking as a recreational activity
North America is a mature market for hiking footwear due to the rising popularity of outdoor activities and hiking. For instance, according to an estimation by the Outdoor Foundation in 2018, around 146.1 million people in the United States participated in outdoor activities. This trend is expected to promote regional market growth.
Europe is also expected to hold a significant hiking footwear market share due to the higher acceptance and penetration of hiking footwear compared to other regions. Europeans are more likely to engage in hiking activities than their counterparts in the Americas. The region's well-developed hiking trail infrastructure and the increasing popularity of outdoor activities among the younger generation are driving the market growth.
Asia Pacific is also anticipated to witness substantial growth in the market due to the increasing number of tourists visiting mountains and hiking trails. For example, the Eye of Sea in Poland is a popular tourist destination that attracts many hikers. The region's growing middle-class population and rising disposable incomes are also contributing to the market's expansion.
Hiking Footwear Market Report Snapshots
Hiking Footwear Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 19.95 billion.
The hiking footwear market is assessed to grow at a CAGR of 3.40% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach almost USD 26.94 billion by 2032.
The major market drivers include the health benefits of hiking, availability of different types of hiking footwear, increasing sales through online retail stores, and exceptional characteristics of hiking footwears.
Key trends aiding market expansion include the rising popularity of hiking as a recreational activity, government initiatives towards promoting hiking, and initiatives by market players in developing superior quality hiking footwear.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Based on design styles, the market is divided into low cut, mid cut, and high cut.
The different distribution channels of the market include offline retail stores and online retail stores.
The major end uses in the market include men, women, and kids.
Key players in the market are Mizuno Corporation, New Balance, Inc., Amer Sports Corporation, PUMA SE, Wolverine World Wide, Inc., and NIKE, Inc., among others.
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