They provide warmth, traction, and protection against extreme weather conditions during winter. With features like removable liners, adjustable closures, and durable rubber soles, snow boots facilitate snowshoeing, skiing, snowboarding and other recreational activities on snow.
The global Snow Boots Market is estimated to be valued at US$ 2412.74 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising popularity of winter sports and outdoor recreational activities has been a key driver boosting the demand for snow boots across regions with harsh winter climates. According to a study, the number of participants in skiing, snowboarding and winter hiking increased by over 30% from 2020 to 2023. Snow boots address the need for sturdy and insulated footwear among those participating in such snow sports and activities. Manufacturers are launching new varieties with advanced thermal insulation and enhanced traction capabilities to cater to the evolving requirements of avid winter sports enthusiasts and outdoor recreationalists. Innovation in boot designs as well as materials used is expected to further accelerate the growth momentum of the global snow boots market over the forecast period.
Segment Analysis
The Global Snow Boots Market Size is dominated by the winter boots segment. Winter boots are specifically designed for extremely cold weather condition and offer enhanced insulation keeping feet warm even in sub-zero temperatures. The segment accounts for over 60% of the total snow boots market owing to high demand for winter boots in countries with harsh winters such as Canada, Nordic countries, Russia, and North-Eastern United States.
Key Takeaways
The global Snow Boots Market is estimated to be valued at US$ 2412.74 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031.
Regional analysis
The North American snow boots market is expected to remain the dominant as well as the fastest growing regional market during the forecast period. This is attributed to extreme winter weather conditions experienced across Canada and northern states of the US. Countries such as the US, Canada, Iceland, Norway and Sweden witness heavy snowfall during winters thereby boosting the demand for snow boots.
Key players
Key players operating in the snow boots market are AbbVie Inc., Janssen Global Services, Johnson & Johnson, F. Hoffmann-La Roche Ltd, Amgen Inc., Pfizer Inc., Novartis, Astellas, Bristol-Myers Squibb Company, Merck Sharp & Dohme Corp., UCB SA, and Allergan plc. These players are focused on expanding their manufacturing facilities and strengthening their distribution networks to cater to the growing demand for snow boots globally.
Get More Insights On This Topic: https://www.newsstatix.com/snow-boots-market-size-share-analysis-2023-2030/
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