Boot Market Size, Share & Trends Analysis Report By Product (Chelsea Boots, Regular Boots), By Distribution Channel (Online, Offline), By Region (North America, APAC), And Segment Forecasts, 2023 - 2030

Boot Market Size, Share & Trends Analysis Report By Product (Chelsea Boots, Regular Boots), By Distribution Channel (Online, Offline), By Region (North America, APAC), And Segment Forecasts, 2023 - 2030

Boot Market Growth & Trends

The global boot market is expected to reach USD 50.54 billion by 2030, registering a CAGR of 5.8% over the forecast period, according to a new report by Grand View Research, Inc. The market growth is largely driven by factors, such as increasing fashion awareness, rapid industrialization, and the increasing number of hikers and mountaineers. The industry has been gaining traction due to rapid industrialization. With an increase in demand for boots due to their durability, comfort, and protection in the working environment has created massive opportunities for boots market growth. Changing consumer preferences and adaption of fashion trends along with increasing brand awareness have allowed manufacturers to come up with designs that are in trend.

When it comes to gifting, Ankle boots are the primary choice as they are considered wardrobe-essentials. The easy-to-wear silhouette features the ideal shaft height for pairing with jeans, trousers, dresses, and skirts of various lengths. Big brands like Prada and Balenciaga have been launching new designs in Ankle boots for women. According to The NPD Group, Cyber Monday is the most popular online shopping day in the footwear sector, while Black Friday is the most popular in-store and online shopping day. The start of the Christmas shopping season is traditionally marked by a sale day, which has caused a shift in consumer buying habits. Shoppers now not only do online shopping, but they also spend in retail stores.

The regular boots product segment accounted for the largest share in 2022. The primary factor driving the segment is the rising demand for comfortable and durable boots. Furthermore, the development of advanced 3D printing technology and the growing population among the middle-income class, are likely to boost product demand. The global industry is characterized by the presence of several well-established players, such as Timberland LLC, Wolverine Worldwide, and The Frye Company. These players account for a considerable market share and have a strong presence across the globe. The global industry also comprises small-to-mid-sized players, which offer a selected range of boots.

Boot Market Report Highlights

• The industry is anticipated to grow owing to increasing fashion awareness and rapid industrialization
• The Chelsea boot product segment is expected to grow at the fastest CAGR between 2023 and 2030 due to the increasing demand for classic Chelsea boots among millennials
• The offline distribution channel segment held the largest share in 2022. Due to the increase in digitalization, the online distribution channel has gained popularity among footwear consumers owing to the benefits like convenience, access to products at any place & any time around the world, and risk-free payment
• North America accounted for the largest revenue share in 2022 due to the presence of leading manufacturers, such as Timberland, UGG, Red Wing Shoes
• The APAC region is expected to grow at the fastest CAGR from 2023 to 2030 owing to increasing disposable income levels, which will boost product sales in the coming years