The ankle boots market is estimated at US$ 840.2 million in 2022 and is projected to reach US$ 1,219.9 million by 2032, at a CAGR of 3.8% during the forecast period.
The growing number of megacities in developing nations is one factor that has contributed to the international demand for ankle boots. Ankle boots were quickly becoming a fad throughout Europe, especially in Paris. In addition, boots that end just above the knee and are crafted from exotic Morocco leather are becoming increasingly popular in the Big Apple.
The economy and urban populations of developing regions like Asia, Africa, and the Middle East are improving rapidly, fueling a massive increase of the ankle boots market share.Demand for ankle boots in Europe is estimated to grow at a comparable rate to that in North America over the forecast period, although Europe is expected to account for a smaller share of the market in terms of revenue.
The key drivers driving the growth of the ankle boot industry are people’s rising disposable incomes and their choice for high-end designs from luxury brands like Gucci, Prada, and Dior. In addition, this pattern plays a significant role. The Asia-Pacific region’s ankle boots market growth rate is predicted to be much lower than that of either North America or Europe over the forecasted timeframe.
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The expansion of the demand for ankle boots has been helped along by the rising popularity of a number of different fashion brands. The major companies that provide ankle boots are competing with one another based on the following criteria: durability, pricing, innovative design, and the overall quality of the raw materials utilized. In addition, retailers are placing a greater emphasis on promoting online retail as the distribution method that is most favored by customers.
In spite of its widespread popularity, there are a few factors slowing the global growth of the ankle boot industry. Consider, for instance, the cutthroat nature of competition between shoe manufacturers.
Sandals, casual shoes, and more formal styles can all work for women’s footwear. Ankle boots for women may not be able to increase in popularity around the world because boot manufactures have so much competition from other shoe companies. Consumer preferences change frequently, which means that even though boots are trending right now among women, that trend could be surpassed by another type of shoe, which would slow the development of the worldwide ankle boots market.
- North America is expected to expand at a high CAGR and reach an ankle boots market share of 14.02%
- The European ankle boots market is anticipated to hold a market share of 24.96%
- The ankle boots market is expected to reach a valuation of US$ 1,219.9 million in 2032.
- Ankle boots are now more widely available than ever thanks to the proliferation of well-structured retail outlets like department shops, discount outlets, online marketplaces, and specialist boutiques.
- The rising fads of e-commerce, smartphones, and mobile internet, in addition to the convenience and accessibility they provide, are expected to drive the demand for ankle boots forward in the next years.
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The presence of several SMBs from all over the world is a distinguishing aspect of the ankle boots sector. To attract a large consumer base, these companies think beyond the box and offer a range of products, from budget-friendly styles to those of a higher quality.
The major companies in the global ankle boots market are using a few key strategies to increase their share of the industry. Among these methods are the development of new products and the merger and acquisition of other businesses to expand existing offerings.
- Thursday Boot Co. Downtown Boot
- M.Gemi Corsa Concavo Boot
- Everlane Day Boot
- Lundstone Australia Pty Ltd
- Vagabond Shoemakers
- MARC FISHER FOOTWEAR. LLC. Boot
- Asos Design Action Chelsea Boot
- Sam Edelman Packer Bootie
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Ankle Boots Market Segmentation:
By Product Type:
- Kitten Heel
- Wedge Heel
- Block Heel
- Lace Ups
By Shoe Size:
- < 6 inches
- 9 – 10 inches
- 10 – 11 inches
- > 11 inches
- North America
- Latin America
- East Asia
- South Asia
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