As per the report published by Allied Market Research, the global tactical footwear market generated $1.54 billion in 2020, and is projected to reach $2.57 billion by 2030, registering a CAGR of 5.3% from 2021 to 2030.
Rise in demand for tactical footwear from military personnel and surge in penetration of e-commerce platforms and strong distribution drive the growth of the global tactical footwear market. However, tactical footwear production effects on environment and restricted use of leather in the manufacturing process hinder the market growth. On the contrary, surge in social media marketing and rise in investments by manufacturers to offer high-quality trademark products are expected to open new opportunities for the market players in the future.
Increase in adoption of tactical footwear majorly by law enforcement professionals, firefighters, military service members, and adventure enthusiasts to operate in harsh and extreme climatic conditions are the tactical footwear market trends which is notably contributes toward the growth of the global market. Furthermore, increase in military personnel is a primary factor that fuels the growth of the market. For instance, according to the U.S. Defense Department data, in March 2019, in the Middle East, around 60,000 military troops present in Afghanistan, Iraq, and Syria, and this number is likely to increase in the coming years, which is expected to generate demand for military essentials and tactical boots, thereby fueling the tactical footwear market growth, globally.
Get detailed COVID-19 impact analysis on the tactical footwear market @ https://www.alliedmarketresearch.com/request-for-customization/13437?reqfor=covid
Tactical footwear is a niche market, which creates opportunities for many manufacturing companies for investment. As the diversified players that dominate the tactical footwear industry have limited presence, stakeholders are planning to invest and expand their business by innovating new products. Thus, new enterprises can take advantage over limited presence. Several companies are completely dedicated on the production and sale of tactical footwear products. For instance, in 2019, 5.11 Tactical expanded company-owned retail stores across the U.S. Moreover, this company offers premium range of tactical footwear products for both men and women.
Strong global concerns about the pandemic have negatively impacted the global tactical footwear market. Moreover, due to high demand and low supply trends, the prices of products increased in 2020 to overcome on economic instability. On the contrary, disruptions of the supply chain in shipping could lead to temporary shortage in the supply, putting upward pressure on prices in the short term.
According to the tactical footwear market analysis, the market is segmented into product, end use, sales channel, and region. By product, the market is bifurcated into boots and shoes. On the basis of end use, it is segregated into men and women. Depending on sales channel, it is fragmented into supermarket/hypermarket, online stores, specialty stores, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, Vietnam, and rest of Asia-Pacific), and LAMEA (Brazil, Iran, Egypt, Turkey, South Africa, Saudi Arabia, and rest of LAMEA).
Covid-19 scenario:
The pandemic presented several challenges for the manufacturing industry due to surge in the number of Covid-19 patients, restrictions regarding social distancing, and lockdown restrictions.
The prolonged lockdown in European and Asian countries disrupted the supply chain and hampered the raw material supply.
The report segments the global tactical footwear market on the basis of product, end use, sales channel, and region.
Based on product, the shoe segment is expected to portray the highest CAGR of 5.9% during the forecast period. However, the boots segment held the largest share in 2020, contributing to more than two-thirds of the market.
Download Sample Copy Of Report@ https://www.alliedmarketresearch.com/request-sample/13437
On the basis of sales channel, the online store segment is projected to manifest the highest CAGR of 6.0% during the forecast period. However, the hypermarket/supermarket segment held the lion’s share in 2020, accounting for more than two-fifths of the market.
The global tactical footwear market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2020, holding nearly two-fifths of the market. However, the market across LAMEA is projected to showcase the highest CAGR of 6.7% during the forecast period.
The global tactical footwear market includes an in-depth analysis of the prime market players such as Adidas AG, ASICS Corporation, APEX Global Brands, Garmont International S.r.l., Belleville Boot Company, Nike, Inc., Maelstrom Footwear, Under Armour, Inc., Puma Se, and 5.11 Tactical.
Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/purchase-enquiry/13437
Related Reports:
Europe Athletic Footwear Market : https://www.alliedmarketresearch.com/europe-athletic-footwear-market
India Industrial Protective Footwear Market : https://www.alliedmarketresearch.com/india-industrial-protective-footwear-market
Motorcycle Footwear Market : https://www.alliedmarketresearch.com/motorcycle-footwear-market-A06494
Sports and Fitness Clothing Market : https://www.alliedmarketresearch.com/sports-fitness-clothing-market
India Sports Apparel Market : https://www.alliedmarketresearch.com/india-sports-apparel-market
Alternative Sports Market : https://www.alliedmarketresearch.com/alternative-sports-market