The waterproof boots market size is anticipated to be valued at US$ 1,520 Million in 2022, and is projected to reach a valuation of US$ 2,360 Million by 2032. The demand for waterproof boots is likely to rise at a CAGR of 4.5% from 2022 to 2032.
Because of the footwear industry’s ongoing growth and manufacturers’ increased focus on waterproof boots that are both dependable and fashionable, the market share for waterproof boots is growing at a moderate rate.
During the forecast period, it is anticipated that this factor will stimulate demand for waterproof boots. Additionally, the market expansion for waterproof boots is likely to benefit from the growing retail and e-commerce industries.
Skiing, snowboarding, and other outdoor sports have gained popularity around the world, attracting a larger number of enthusiasts. The number of various winter sports tournaments and events has expanded in recent years around the world, resulting in a growth in the sales of waterproof boots. Furthermore, increased interest in winter sports activities among individuals of all ages has contributed significantly to waterproof boots market growth.
Furthermore, increasing and growing interest in winter sport activities among the millennials and gen Z populations has generated improved opportunities for waterproof boots market players and is also major factor driving demand for waterproof boots across several geographies.
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Consumers are becoming more fashion conscious, which has resulted in an increase in demand for these boots. Large product diversity and easy availability in a variety of retail channels are likely to encourage impulse sales of waterproof boots.
Some well-known companies and retailers have shifted their focus to the waterproof boots market, resulting in a significant growth in the number of retail outlets globally. Furthermore, online shopping is increasing global demand for waterproof boots due to the availability of wide variety, discount, and price range of products offered by online merchants are diverse, contributing to its expanding popularity.
The growth in organised sales channels such as hypermarkets/supermarkets, sports stores, multi-brand stores, and specialty stores has improved sales of waterproof boots and is alternatively driving organised retail growth in numerous countries, which is likely to drive the waterproof boots market throughout the forecast period. Furthermore, the majority of clients in snowy areas are gradually migrating to higher quality, longer-lasting products offered by waterproof boot manufacturers.
Key Takeaways from Waterproof Boots Market
North America is expected to continue to be a significant market, accounting for 28.30% of the global waterproof boots market share. In 2021, the United States had the largest market share in North America.
In 2022, Europe accounted for more than 25.70% of the waterproof boot market. Younger people’s increased demand for waterproof boots is also propelling the waterproof boot market in Europe.
The rubber type segment dominates the waterproof boots market because consumers choose rubber waterproof boots in cold and rainy weather situations.
During the projected period, the household sector is expected to dominate the waterproof boots market.
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Competition Landscape in the Waterproof Boots Market
Product portfolio diversification through R&D efforts, as well as corporate mergers and acquisitions, are some of the main methods employed by leading firms to boost their position in the worldwide waterproof boots market.
Companies in the waterproof boot sector are adopting distinctive and focused distinguishing techniques in order to diversify their business and suit the needs of a rising consumer base.
Eddie Bauer, DRYCODE, Dunlop, Columbia, TideWe, Sperry, Timberland Pro, Wolverine, Innolux, and Danner are some of the major companies in the waterproof boots market.
Recent Developments in the Waterproof Boots Market:
Northwave debuted its Extreme RR 3 Waterproof Boot in time for the start of autumn in 2019. The corporation made them available to its customers, along with a wide selection of other things, through the online retailing platform I-ride.
Canada Goose, a luxury outerwear brand, released its first pair of waterproof boots in 2021 and expanded its product line to include them. The company also intends to expand the number of clients by employing such strategies.
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