The snow boots market is anticipated to grow at a CAGR of more than 4.0% through 2027, surpassing a valuation of US$ 2.0 billion. On the market, there are a lot of well-established companies. The number of huge enterprises has expanded as the market has grown. The vast majority of these big companies operate in the organised sector.
These businesses have established themselves in regional and target markets, and they are now trying to expand their operations across bigger landscapes. On the other hand, there is an increase in the number of unorganised businesses in the market, which are mostly small and medium-sized businesses. As a result of this emergence, there is more competition between the organised and unorganised sectors. Furthermore, formal sales channels are scarce in a number of emerging countries.
The unorganised sales channel in developing countries is popular due to the competitive price in the snow boot market. Such elements are driving the majority of price-conscious buyers to purchase products like snow boots, resulting in a boom in snow boot sales throughout various locations.
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Key Takeaways from the Snow Boots Market Study
- In terms of sales channel, specialty stores held the largest share in 2021. This is due to the limitation of alternatives for snow boots and with it focused selling strategies in specialty stores that is leading to growth in volume of sales of snow boots.
- The use of neoprene rubber as a raw material has been adopted by the manufacturers of snow boots since the past few years. The customers are also preferring for neoprene snow boots due to its better quality and durability.
- Outdoor snow boots held the largest revenue share in 2021, and is expected to maintain its lead over the coming years owing to greater application of these snow boots in outdoor activities over the sport snow boots.
- North America and Europe led the market in 2021. High concentration of manufacturers on top of snowy climatic conditions in U.S., U.K., France, Russia, and Germany is projected to remain a favourable factor in the coming years.
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Who is Winning?
Leading manufacturers of snow boots are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of snow boots globally.
Major players present in the snow boots market are Adidas AG, Asics Corporation, Bata Limited, Columbia Sportswear Company, Crocs, Inc., DC Shoes Company, Deckers Outdoor Corporation, Deichmann SE, Honeywell International Inc., Jack Wolfskin GmbH & Co., Kamik Company, Michael Kors Holdings Ltd., New Balance Athletics, Inc., Nike, Inc., Polartec, LLC, Puma SE, Skechers U.S.A., Inc., The Aldo Group, Inc., VF Corporation, Wolverine World Wide, Inc., Baffin, Santana Canada, Hackberry Inc., The Timberla Company, and W-D Apparel Company, LLC., among others.
Impact of COVID-19 on the Market
The outbreak of the Covid-19 pandemic has affected the expansion of the snow boot market, as it has other industries. Governments enforced tight transportation and travel restrictions as a result of the outbreak.
As a result, raw resources for the manufacture of snow boots and other related products were scarce. Furthermore, the pandemic’s closing of numerous production factories culminated in the market’s entire collapse throughout the crisis.
Snow Boots Market by Category By Product Type:
- Outdoor Snow Boot
- Sports Snow Boot
By Consumer Orientation:
- Male Snow Boot
- Female Snow Boot
- Kids Snow Boot
By Material Type:
- Other Material Type
By End Use:
- Premium (Designer/Limited Edition/ Exclusive Collection)
By Sales Channel:
- Sport Stores
- Specialty Stores
- Multi-Brand Stores
- Independent Small Retailers
- Online Retailers
- Other Sales Channels
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa (MEA)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 5-years.
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