Global $2.37 Billion Tactical Footwear Market to 2027: Social Media Marketing Campaigns Expected to Drive Market Growth
DUBLIN, Sept. 28, 2020 /PRNewswire/ -- The "Tactical Footwear Market Size, Share & Trends Analysis Report by Product (Boots, Shoes), by Distribution Channel (Offline, Online), by Region, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global tactical footwear market size is anticipated to reach USD 2.37 billion by 2027, expanding at a CAGR of 5.1% from 2020 to 2027.
Tactical Footwear Market Report Highlights
- Asia Pacific is expected to expand at the fastest CAGR of 5.4% from 2020 to 2027. Social media marketing campaigns and growing preference for tactical footwear by law enforcement personnel are expected to drive the market in the region.
- The online segment is expected to witness the fastest growth throughout the forecast period. The increasing availability of a wide number of tactical footwear of different brands at a competitive price on e-retailer platforms is one of the main reasons fueling the segment growth.
- Tactical footwear offers many additional benefits while doing vigorous physical activities, such as comfort, extra cushioning, breathability, and slip resistance feature to maintain sure footing on ice grease or slick liquids.
Increasing technological innovation in design has been an important aspect of driving the demand for tactical footwear. For instance, in January 2018, TBL Licensing LLC launched FlyRoam tactical boots, which are built with durable leather materials and Aerocore energy system technology that features an aerodynamic design and ultra-lightweight tactical boots with enhanced cushioning.
Tactical footwear provides the wearer many benefits compared to other traditional boots, including flexibility, slip resistance, sturdy uppers, and breathability, which promote airflow to keep the feet cool during performing rigorous exercise. Most of the tactical footwear feature enhanced insole and outsole, which offers extra cushioning, traction, and flexibility and comes with a toe rand that wraps over the exterior of the shoe's toe for added protection.
Covid-19 pandemic has affected the sales of tactical footwear adversely as people have become more focused on their buying behavior and consider avoiding buying expensive apparel and footwear. The sale of the complete footwear market has been severely impacted by the lockdown condition and supply chain disruption. According to The European Textile, Clothing, Leather, and Footwear (TCLF) Association, the disruption of supply chains, and the shutdown of retail outlets due to the Covid-19 pandemic have completely destabilized these industries. This has dramatically reduced the sales, leading to extreme contractions of revenues and financial distress among the companies.
Based on the product, the tactical boots segment led the market and accounted for 68.5% share of the global revenue in 2019. Renowned footwear manufacturers such as Adidas AG and Under Armour, Inc. have been offering innovative tactical boots with advanced attributes, which has been fueling the segment growth. For instance, in June 2019, Adidas announced the launch of a military-inspired, tactical boot called GSG9.2 Boot.
The boot is made up of full-grain leather upper with water-resistant treatment and comes with the ADITUFF feature offering high abrasion resistance in the toe. Tactical boots are highly preferred by law enforcement professionals military service members, private and public security personnel, and adventure aspirants looking for protection from sand mud water difficult terrain and other hazards on the ground.
By distribution channel, the offline segment dominated the market and accounted for 76.7% share of the global revenue in 2019. Physical verification and durability check of the footwear are among the prominent reasons fueling the segment growth. Tactical shoes are comparatively costlier than other shoes and come with specific features suited for various applications owing to which consumers mostly prefer to buy these products after carefully examining the making of the footwear. In addition, wide product range and offering and seasonal discounts are the key strategies opted by such offline channel stores to increase revenue and footfall in any store.
North America dominated the market for tactical footwear and accounted for 38.7% share of the global revenue in 2019. Growth in the market is powered by the strong presence of many manufacturers, including Adidas AG, 5.11 Tactical, and Maelstrom Footwear, along with a well-developed supply chain in the region.
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Tactical Footwear Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.5. Business Environment Analysis
3.5.1. Industry Analysis-Porter's
3.6. Roadmap of Tactical Footwear Market
3.7. Market Entry Strategies
3.8. Impact of COVID-19 Pandemic on Tactical footwear Market
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Tactical Footwear Market: Product Estimates & Trend Analysis
5.1. Product Analysis & Market Share, 2019 & 2027
5.2. Boots
5.2.1. Market estimates and forecast, 2016-2027 (USD Million)
5.3. Shoes
Chapter 6. Tactical Footwear Market: Distribution Channel Estimates & Trend Analysis
6.1. Distribution Channel Analysis & Market Share, 2019 & 2027
6.2. Offline
6.2.1. Market estimates and forecast, 2016-2027 (USD Million)
6.3. Online
Chapter 7. Tactical Footwear Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2019 & 2027
Chapter 8. Competitive Analysis
8.1. Key global players, recent developments & their impact on the industry
8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
8.3. Vendor Landscape
8.3.1. Key company market share analysis, 2019
Chapter 9. Company Profiles
- Under Armour
- Adidas AG
- Wolverine World Wide
- Lacrosse Footwear Inc.
- 5.11 Tactical
- Maelstrom Footwear
- Magnum Boots
- Belleville Boot Company
- VF Corporation
- Garmont Outdoor
For more information about this report visit https://www.researchandmarkets.com/r/4ro4jb
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