The lace up boots market is set to hit the ground running, reaching a value of US$ 2.0 billion in 2023 and surging to an impressive US$ 3.2 billion by 2033. This steady growth, fueled by a CAGR of 4.7%, indicates a thriving market in the years to come.
Lace up boots is widely regarded as a high-end item. The introduction of new products by various brands has fueled the growth of the lace up boots market. Lace up boots market growth will be driven by high product adoption, even in areas with relatively warmer climates. As the demand for flexible and lightweight products grows, numerous innovations and technological advancements contribute to an increase in demand for lace up boots
Growing working-class population, rising consumer income, a thriving retail e-commerce sector globally, and growing fashion trends in business wear are all contributing to the growth of the lace up boots market. Lace up boots is both durable and fashionable, which makes them popular with a wide range of customers. The breathable properties of real leather, which can cool the feet and prevent odours, are also catapulting the product’s market growth in lace-up women’s boots & booties.
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Consumer Purchasing Patterns
The lace up boots market is closely related to consumer spending on fashion accessories. The market is being driven by rapid growth in spending on fashion accessories as a result of social media’s growing influence. Recent changes in consumer shopping trends, as well as an increasing proclivity to purchase high-end and designer shoes, are expected to drive the growth of the lace up boots market. The desire for fashionable, fancy, and comfortable footwear drives the demand for lace up boots.
North America
North America is expected to continue to be a key lace up boot market, accounting for the lion’s share. The region’s lace up boots market has grown significantly due to the high penetration of key players in the region as a result of rising demand.
The players in the United States are focused on delivering premium products that prioritise their customers’ value proposition, and this factor has significantly contributed to an increase in the volume of boot sales of lace up boots in the region.
Europe
Europe is the second-largest lace up boot market due to the presence of some of the largest manufacturers. Major shoe manufacturers are introducing new products in order to gain a larger consumer base.
Key Takeaways
- North America, with a lace up boots market share of 28.40%, is believed to be a key lace up boot market.
- With a revenue share of 22.23%, Europe is the second-largest lace up boot market.
- The lace up boots market’s online distribution channel is expected to grow at the fastest rate.
Key Players
- Dr Martens
- Marc Fisher Ltd.
- C. & J. Clark International
- Carlton London
- Zara
- Thursday Boot
- Red Chief
- Nordstrom Inc.
- FENDI
- Bloomingdale’s
The major players in the lace up boots market are playing an important role in accelerating the expansion of the lace up boots market. Giant corporations are going to propose a variety of strategies and notions to boost sales and satisfy the requirements of all sectors.
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Recent Developments:
- Acquisition
- LionRock Capital will acquire Clarks, with the Clark family remaining a significant shareholder. The collaboration will ensure the long-term viability of the 195-year-old world-renowned British shoe brand.
- The investment by LionRock Capital is subject to shareholder approval and a Company Voluntary Arrangement (“CVA”) for Clarks’ UK and Republic of Ireland store portfolio.
- Partnership
Dr. Martens, a British footwear company, has teamed up with renowned design school Central Saint Martins to help a new generation of emerging designers.
- Launch
Marc Fisher LTD Men’s has been launched by Marc Fisher Footwear Company, a fashion footwear industry leader with a portfolio that includes many of America’s most recognisable and iconic brands.
- Expansion
To expand its e-commerce business in India, Carlton London, a premium British lifestyle brand, has partnered with Ace Turtle, an Omni channel platform company. Ace Turtle’s Omni channel platform, Rubicon, will power Carlton London’s e-commerce business by enabling seamless inventory and catalogue management across existing and new demand generation channels.
Key Segments
By Material Type:
- Synthetic
- Faux Leather
- Leather
- Polyurethane
- Rubber
- Suede
- Polyester
- Others
By End-User:
- Men
- Women
By Shoes Width:
- Narrow
- Medium
- Wide
- Extra Wide
By Sales Channel:
- Hypermarkets / Supermarkets
- Footwear Stores
- Convenience Stores
- Online
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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