Snow Boots Sales to Rise Through 2027; Female Population a Key Target Segment for Manufacturers of Snow Boots
Global Snow Boots Market: From an estimated market size of US$ 1,475.1 Mn in 2018, the value sales of snow boots is expected to reach US$ 2,010.7 Mn by 2027, expanding at a CAGR of 3.5%
Over the past few years, the global footwear industry has witnessed significant growth and is expected to expand over the forecast period. Nowadays, consumers are demanding for branded footwear due to its high quality.
They are also highly influenced by commercial advertisements, entertainment channels and others. India is the second leading producer of global footwear after China, and the latter dominates the global footwear industry.
Moreover, due to harsh weather conditions, the need for snow boots is increasing for the protection of the feet from cold weather.
Snow boots are designed to be waterproof or water-resistant to prevent snow from entering them. Hence, snow boots enable people to easily walk and play in wet or snowy conditions. Snow boots are also necessary for preventing injurious from slips and falls during snowy conditions.
The global snow boots market is projected to expand at a significant CAGR during the forecast period owing to automation in the footwear industry and an increase in the production capacity of snow boots to respond to the demand for mass standardised snow boots across the globe.
Moreover, the rapid emergence of organised sales channels, such as hypermarkets/supermarkets and specialty stores, for the distribution of snow boots is augmenting the growth of organised retail in developing countries, which is also among the factors that are expected to drive the snow boots market during the forecast period.
Celebrity endorsements as well as commercial advertisements in the digital era are among key factors driving demand for snow boots
Over the past few decades, celebrity endorsements have always been an effective marketing strategy adopted by various marketers to endorse their brands and boost the interest of consumers in a particular product or a brand.
Nowadays, e-commerce has become one of the fastest-growing platforms for the advertisement of products. Therefore, various companies in the snow boots market are coming up with unique celebrity endorsement strategies, in which celebrities are endorsing their products online.
This is expected to help boost the sales of snow boots by influencing the fan following of these celebrities, which will further expand the popularity of different brands of snow boots as well as boost the global market share.
Sports snow boots segment is primarily driven by a growing winter sports industry coupled with the trend of skiing among people
By product type segment, the global snow boots market is segmented into outdoor and sports. Among all the product type segments, the outdoor segment is estimated to account for a relatively highest value share of the snow boots market.
In the global snow boots market, the outdoor segment is estimated to account for a 57.0% value share in 2017, and is expected to lose 114 BPS in its market share by 2026 over 2017. In the global snow boots market, the sports segment is estimated to register a significant CAGR of 3.8% during the forecast period.
The global snow boots market is further segmented into demographics, which include men, women and children. Among these, the women segment is expected to be closely followed by the men segment in terms of share and growth in the global snow boots market.
The women segment is estimated to account for a 49.2% value share in 2017. In the global snow boots market, the children segment is projected to register a prominent CAGR of 3.4% during the forecast period.
The global snow boots market is further segmented on the basis of sales channel. Among all the sales channel segments, the hypermarkets/supermarkets segment is expected to account for a significant share in terms of value in the global snow boots market.
The hypermarkets/supermarkets segment has been estimated to account for a 28.8% value share in 2017, and is expected to register a CAGR of 3.3% during the forecast period in the global snow boots market.
However, the online retailers segment is estimated to register continuous growth during the forecast period. This segment is expected to gain an incremental opportunity of US$ 79.1 Mn in the global snow boots market during the forecast period.
The global snow boots market has been segmented into six major regions: North America, Europe, Latin America, Japan, Asia Pacific Excluding Japan (APEJ) and the Middle East & Africa (MEA).
Among these regions, the European market has been estimated to dominate the snow boots market in terms of value, and account for a significant revenue share of the market by the end of 2017.
Collectively, the North America and APEJ markets are estimated to account for a revenue share of over 46.9% of the global snow boots market by the end of 2027. The APEJ snow boots market is projected to exhibit a substantial CAGR of 4.4% over the forecast period.
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Some of the key players profiled in the global snow boots market study include 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 and Wolverine World Wide, Inc.