Wilmington, Delaware, Nov. 17, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Tactical Footwear Market by Product Type (Boots, Shoes), by End Use (Men, Women), by Sales Channel (Hypermarket and Supermarket, Online Stores, Specialty stores, Business to business, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031. According to the report, the global tactical footwears industry generated $1.6 billion in 2022 and is anticipated to generate $2.9 billion by 2032, witnessing a CAGR of 6.2% from 2023 to 2032.
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Prime determinants of growth
One of the major trends in the tactical footwear market has been the development of lightweight and breathable footwear. Manufacturers are using advanced materials and technology to create footwear that is durable, comfortable, and able to withstand harsh environments. However, the process of turning skin into leather requires enormous amounts of energy and the use of hazardous chemicals, including formaldehyde, coal tar derivatives, various oils, dyes, and finishes, some of which are cyanide-based. This is true even though some leather manufacturers falsely promote their products as environmentally friendly. As a result, the manufacturing of tactical footwear has a negative impact on the environment, which inhibits market expansion. In addition, due to the restricted presence of the dominant, diversified players in the tactical footwear market, stakeholders are preparing to invest in and grow their companies through product innovation.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | 1.6 billion |
| Market Size in 2032 | $2.9 billion |
| CAGR | 6.2% |
| No. of Pages in Report | 300 |
| Segments Covered | Product Type, End Use, Sales Channel and Region |
| Drivers | Tactical footwear production effects on environment Restricted usage of leather in manufacturing process affects the production |
| Opportunities | Increase in investments by manufacturers to deliver high-quality trademark products |
| Restraints | Rapid penetration of e-commerce platforms and strong distribution channels |
The boots segment to maintain its leadership status throughout the forecast period
Based on product type, the boots segment held the highest market share in 2022, accounting for three fifth of the global tactical footwears market revenue, and is estimated to maintain its leadership status throughout the forecast period. Majority of the reputable boot producers make their boots to endure a lifetime through various severe situations. Hence, this segment is expected to exhibit considerable growth rate during the forecast period. However, shoes segment is also expected to be the fastest-growing segment and is projected to manifest the highest CAGR of 6.8% from 2023 to 2032. Shoes serve as the most crucial component of a person's apparel, as no other piece of products must fit perfectly and fulfil critical mechanical tasks such as transferring body weight. They are comfortable to wear, as they are light in weight as compared to boots. However, in case of tactical footwear, boots are preferred more due to their wide application.
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The men segment to maintain its lead position throughout the forecast period
Based on end use, the men segment held the highest market share in 2022, accounting for more than four-fifth of the global tactical footwears market revenue and is estimated to maintain its leadership status throughout the forecast period. Tactical boots and shoes such as jungle boots, desert boots, and cold weather are witnessing increased popularity among men, thereby boosting their sales. The women segment is the fastest-growing segment and is projected to manifest the highest CAGR of 7.5% from 2023 to 2032. Female population is conscious about the overall appearance, especially when it comes to wearing footwear. Moreover, women embrace their fitness and healthy lifestyle in social environment. As a result, they seek for apparels and footwear, which make them feel comfortable.
The Business to business segment to maintain its lead position throughout the forecast period
Based on sales channel, the Business to business segment held the highest market share in 2022, accounting for more than three-fifth of the global tactical footwears market revenue and is estimated to maintain its leadership status throughout the forecast period. Business-to-business sales channel garnered a major market share in the tactical footwear industry. This is attributed to high supply of footwear in the armed force and police services. The online segment is the fastest-growing segment and is projected to manifest the highest CAGR of 9.5% from 2023 to 2032. Online platform serves as a popular medium for the purchase of footwear. This is attributed to easy availability and the benefits such as information about the attributes of the products, time-saving feature, and the facility of home delivery provided by online platform.
North America to maintain its dominance by 2032
The North America region held the highest market share in 2022, accounting for more than one third of the global tactical footwears market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to increase in adoption of tactical footwear among health enthusiasts notably contributes toward the market growth. They have recently been a popular choice among hikers and backpackers, thus driving their sale in the region. The Europe region is the fastest-growing segment and is projected to manifest the highest CAGR of 7.0% from 2023 to 2032. This is attributed to surge in demand for comfortable and lightweight tactical footwear. In addition, increase in popularity of boots worn as casual footwear in the region boosts the demand for tactical footwear.
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Leading Market Players:
- Adidas AG
- Apex Global Brands
- Asics Corporation
- Belleville Boot Company
- Garmont International S.r.l.
- Maelstrom Footwear
- Nike, Inc.
- Puma SE
- Under Armour, Inc.
- 5.11 Tactical
- Military 1st
- McRae Footwear
- RNS Footwear Pvt. Ltd.
- Qingdao Glory Footwear Co. Ltd
- Elten Gmbh
The report provides a detailed analysis of these key players in the global tactical footwears market. These players have adopted different strategies such as new product launches, business expansion, partnerships, mergers, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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