NEWARK, Del, Sept. 07, 2022 (GLOBE NEWSWIRE) -- The rain boots market is expected to be worth around US$2590 Million by 2032, up from US$1720 Million in 2022, with a CAGR of 4.2% from 2022 to 2032.
An adequate portion of the world's footwear market is occupied by rain boots, which are also largely to blame for the rain boots market's positive volume and value growth. The rain boots market is expanding globally due to factors like rising demand as well as product variety in terms of design and colour.
The prevalent spread of COVID-19 has caused border closures, transportation network breakdowns, and city lockdowns. This led to the closing of factories and offices, which decreased product demand. Additionally, the outbreak's closure of stores and factories had an impact on the production of goods. With the reopening of economies, rain boots market growth is probably going to pick up speed.
Introduction of Fresh Creative Ideas
The global rain boots market is expected to grow steadily due to the rising footwear industry, with a focus on rain boots, which is expected to fuel demand for rain boots in the coming years.
The introduction of new and innovative designs, as well as increased consumer interest in rain boot fashion trends, are key factors driving market growth. Furthermore, e-commerce trends are expected to fuel rain boots market growth.
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Online Retailers
Online retailers offer a wide range of collections, deals, and prices for their products, which has increased their appeal. Rain boots are in high demand because consumers are becoming more fashion-conscious. A further on-going trend that is anticipated to support growth in the ensuing years is the increasing adoption of rain boots in the industrial sector around the world.
R&D Efforts
Additionally, the major companies are using a number of key strategies to increase their rain boots market share, including company mergers and acquisitions, diversification of their product portfolio through R&D effort.
Leading players began producing sophisticated and innovative products as a result of their on-going involvement in product innovation through research and development activities. Additionally, the demand for men's and women's versatile, comfortable, and stylish goods is rising, along with consumer lifestyle and preference changes, which are all contributing to the global rain boot market boom.
Regional Outlook
The Asia Pacific rain boots market is expected to grow rapidly due to the emergence of new industries that require rain boots for airing working operations, such as oil and gas, agriculture, and utilities.
Due to the presence of large players and weather conditions, the rain boots market in North America and Europe is expected to be the dominant region.
Key Takeaways:
- The manufacturing industry dominated the global rain boots market and contributed more than 35.0% of total sales.
- With a rain boots market share of 17.3% in terms of revenue, Europe dominated the global rain boots market.
- With a rain boots market share of 32.50% in terms of revenue, North America dominated the global rain boots market.
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Competitive Landscape:
The major players in the rain boots market are fierce competitors on the global market for rain boots. Hunter Boot Limited, Aigle Footwear Company, Kamik, Bata Limited, Puma SE, Adidas AG, Nike Inc., New Balance Athletics Inc., Capelli New York, UGG Footwear Company are a few of the major players in the global rain boot market.
Recent Development:
- A controlling interest in Hunter Boot Ltd. has been acquired by Searchlight Capital Partners. The expansion of the Hunter Company into new markets and related product categories will be aided significantly by Searchlight.
- To design, produce, and market XpresSpa travel and spa accessories, XpresSpa announces a partnership with Capelli New York.
- Launch of an inclusive footwear line by UGG and Zappos.com
- The TRACK at New Balance, a new state-of-the-art multi-sport facility where Team New Balance, professional athletes, and community athletes will train and compete year-round, has been unveiled by global athletic leader New Balance.
- A pair of rain boots that is extremely fashionable and as vibrant as May flowers have been released by the Montreal-based shoe company Kamik.
Key Segments
On The Basis of Material Type:
- Natural Rubber
- Synthetic Rubber
By End Use:
- Men
- Women
- Kids
By Distribution Channel:
- Online Distribution Channel
- Offline Distribution Channel
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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