34% of Growth to Originate from Europe for Hiking and Trail Footwear Market
NEW YORK, Jan. 12, 2022 /PRNewswire/ -- The hiking and trail footwear market in Europe witnessed certain challenges in 2020. Russia, the UK, France, Italy, and Spain are some of the most affected countries in the region. Most countries in the region imposed lockdowns and are still under full or partial lockdowns.
The countries also placed travel restrictions on tourist places, including hiking and trail destinations. These factors negatively influenced the demand for hiking and trail footwear in Europe in 2020.
Key Hiking and Trail Footwear Market Report Highlights:
- Market growth 2020-2025: USD 4.25 billion
- Growth momentum & CAGR: Accelerate at a CAGR of 7.93%
- YoY growth (%): 7.14%
- Performing market contribution: Europe at 34%
- Key consumer countries: US, Germany, France, China, and Canada
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Regional Market Analysis
34% of the market's growth will originate from Europe during the forecast period. Germany and France are the key markets for hiking and trail footwear in Europe. Market growth in this region will be faster than the growth of the market in MEA, North America, and South America.
- Countries such as Germany, France, Russia, and the UK have witnessed rapid growth in hiking and trail running participation over the last few years. Increased support from private and public associations such as the European Ramblers' Association (ERA) and the Hiking Europe project to improve the outdoor tourism infrastructure is a major factor in increasing the participation in hiking and trail running activities.
- Specialized hiking and trail footwear are expected to witness steady demand in the region owing to the increased hiking participation in several alpine trails. Additionally, increasing product premiumization and new product developments such as vegan hiking footwear are expected to contribute to the growth of the market in Europe during the forecast period.
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Key Vendors and Vendor Strategies
adidas AG, Amer Sports Corp., ASICS Corp., Columbia Sportswear Co., Deckers Outdoor Corp., Nike Inc., PUMA SE, Under Armour Inc., VF Corp., and Wolverine World Wide Inc. are a few of the key vendors in the Hiking and Trail Footwear Market.
The market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
adidas AG- The company offers outdoor hiking boots, trail running shoes, and sneakers.
Amer Sports Corp.- The company offers hiking and trailing footwear products through Salomon brands.
ASICS Corp.- The company offers running ad hiking shoes through its brand GEL-SCRAM 5.
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Key Market Drivers
Our analysts have extensively outlined the information on the key market drivers and their impact on the Hiking and Trail Footwear Market.
- Increasing premiumization of hiking and trail running footwear:
- The increasing premiumization of hiking and trail running footwear is expected to drive the market during the forecast period. Advances in footwear technology have enabled several vendors to introduce activity-specific footwear for hiking and trail running. Additionally, innovations in technical fabrication, design, and product development have resulted in the premiumization of hiking and trail running footwear over the last few years. Growing consumer awareness about the benefits of specialized shoes has fueled the demand for premium hiking and trail running footwear over the last few years.
To know about few other market drivers, trends, and challenges.
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Hiking and Trail Footwear Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 7.93% |
Market growth 2021-2025 | $ 4.25 billion |
Market structure | Fragmented |
YoY growth (%) | 7.14 |
Regional analysis | Europe, North America, APAC, South America, and MEA |
Performing market contribution | Europe at 34% |
Key consumer countries | US, Germany, China, France, and Canada |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | adidas AG, Amer Sports Corp., ASICS Corp., Columbia Sportswear Co., Deckers Outdoor Corp., Nike Inc., PUMA SE, Under Armour Inc., VF Corp., and Wolverine World Wide Inc. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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