Winter Footwear Market Expected to Reach $13.6 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Winter Footwear Market," The winter footwear market was valued at $8.6 billion in 2021, and is estimated to reach $13.6 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031.

Winter footwear market includes the most well-known brands of winter footwear i.e., Prada winter shoes, Nike winter shoes, Nike winter boots and Reebok winter shoes. Customers around the globe are seeking winter boots that can be worn in colder areas that are warm, waterproof, vapor permeable, and dry. Carelessness in cold weather can also be harmful to one's health. Additionally, if a person is physically strong and healthy, their body can withstand the physiological restrictions brought on by cold weather. These rise over the winter season and frequently impact those who already have health issues. Blood flow is concentrated in the body's center as body temperature drops, raising blood pressure and stressing the heart. In addition, when it is cold, the body expends more energy to generate more heat. For older people, those with heart or circulatory disease, and those who are unfit from a sedentary lifestyle and are not used to vigorous exercise, the increase in heart rate and blood pressure that comes with activity, as well as the effect of the cold in constricting arteries to reduce blood supply, are particularly dangerous. Due to the effects of the local cold weather and customers' need for warmth, customers need winter clothing and footwear. Hence, the winter footwear industry is expected to have significant growth during the forecast period. 

 The winter footwear market is segmented into type, end-user, distribution channel, and region. By type, the market is categorized into boots. shoes and others. According to the end user, the winter footwear market is fragmented into men, women, and children. As per the distribution channel, the market is divided into E-Commerce and offline channels. Moreover, the winter footwear market is further classified into third-level segmentation through the distribution channel. Based on offline channel, the market is classified into hypermarkets/supermarkets, brand outlet, specialty stores and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Switzerland, and the rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, UAE, and the rest of LAMEA).  

By type, boots had the largest winter footwear market share contributor in 2021 with a CAGR of 4.7%. Winter boots come in a variety of styles, including desert leather boots, snow boots, tactical boots, and work boots. When hiking through snow and ice, winter boots also keep feet warm and dry while offering superior traction. The towering top, insulation, and unusual non-slip soles let them stand out from conventional winter footwear. 

Customers all over the world choose lined winter boots due to the several ways linings help keep feet from feeling cold. The G-Loft Fit insulating fleece in the HANWAG Abisko GTX adventure boot is another illustration of an insulating layer featured in some winter boots that helps keep out the cold. In colder areas, such a product is one of the most frequently used due to winter footwear market trends. Winter boots also offer a number of benefits, such as ankle support, which is likely to promote market growth. A strong boot also stabilizes snowshoes and makes it simpler to walk sideways on the snow. As a result, it is anticipated that the growing preference for winter boots would raise demand for winter footwear. 

By end user, the men had the largest winter footwear market size in 2021 i.e., $3,568.1 million in 2021, and is expected to reach $5,607.1 million by 2031 at a CAGR of 4.7%. Men's winter footwear is getting more and more popular as a result of rising male engagement in sports like mountain biking and rising demands for upscale, comfortable footwear. Winter footwear is also popular since men participate in sports at a higher rate than women. Men's desire for trendy shoes like chukka boots, combat boots, and cowboy boots has also increased the demand for men's winter boots. Almost all men wear winter formal footwear due to the increase in the number of men participating in corporate jobs, professions, and sports globally. The rising employment rate and large male population are predicted to support market expansion over the course of the projected period. 

By distribution channel, offline channel was the largest share in 2021 and are expected to have the largest market share in 2031 due to consumers can find large sets of winter footwear through offline channels, which are readily available. Additionally, it has established retail locations with a wide variety of winter shoes and a presence both domestically and internationally. These kinds of stores carry a variety of winter footwear options for customers, including commercially available boots and shoes. Customers can find niche products in these types of establishments that cater to specific market segments. As a result, the growth of offline channels in various areas opens up lucrative opportunities for market expansion for winter footwear market growth. Manufacturers encourage supermarket and hypermarket chains to sell their own products through these channels and offer special discounts, which helps to boost the winter footwear market demand. 

By region, Europe holds the largest share in 2021 i.e., $3,441.6 million in 2021, and is expected to reach $5,450.8 million by 2031 at a CAGR of 4.8%, According to winter footwear market analysis huge market penetration of winter footwear in Europe has encouraged businesses to launch innovative new models in order to thrive in the cutthroat sector. Winter shoe producers in Europe are also raising brand awareness by enlisting well-known sportsmen to represent their companies. Significant market drivers for winter footwear in that region include the growth of the working population, increased disposable income, the presence of more billionaires in the continent, and the rise in fashion consciousness among Europeans. 

 The major players operating in the global winter footwear are UGG, Hoka, Nike, Adidas, New balance, Salomon, Norse Projects, The North Face, Teva, Merrell, Danner, Ecco, Sorel, Prada, Reebok, Suicoke, Blundstone, Xtratuf, Dr. Martens, Puma. 

Key findings of the study  

• By type, the boots segment is estimated to witness significant growth, registering a CAGR of 4.7% during the forecast period.   

• By end user, the men segment is anticipated to grow at a CAGR of 4.7% during the forecast period.   

• By distribution channel, the offline segment is estimated to witness significant growth, registering a CAGR of 4.6% during the forecast period.   

• By region, Europe was the dominant region in 2021, occupying a major share of the market.