According to a new report published by Allied Market Research, titled, “Tactical Footwear Market by Product, End Use, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global tactical footwear market was valued at $1,547.3 million in 2020, and is projected to reach $2,574.1 million by 2030, registering a CAGR of 5.3% from 2021 to 2030. In 2020, the tactical boots segment garnered the highest share in the tactical footwear market, owing to multiple benefits associated with tactical boots such as superior flexibility, high reliability, enhanced breathability, lightweight, slip resistance, sturdy uppers, and quiet soles, which make them more popular, thereby boosting the growth of the global market.
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Moreover, the market growth is driven by the some of the major factors such as rise in the military workforce across the world, surge in demand for lightweight & reliable tactical shoes that can perform effectively in harsh environmental conditions, and increase in demand for tactical footwear from fitness enthusiasts as well as disaster management operators. Over the past few years, the U.S. military has been taking noteworthy steps to build up an inclusive and diverse force, and ending restrictions on military active force has opened the doors of services for women.
Based on the insights of the CXOs of leading companies, the footwear industry is experiencing a rapid expansion, owing to rise in demand for trendy and comfortable tactical footwear. Rapid urbanization, demographics changes along with increase in demand of boots for military personnel, and surge in demand for boots in industrial and mining sectors fuel the growth of the tactical footwear market. Moreover, consumers consider comfort as an important parameter while choosing appropriate footwear. In addition, consumers presently are ready to indulge in stylish and comfortable footwear. Thus, all these factors are expected to contribute toward the growth of the overall market during the forecast period.
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Key Take Away
- Shoes segment would witness the fastest growth, registering a CAGR of 5.9% during the forecast period.
- Women Segment witnessed a major growth rate of 6.6%
- Supermarket/Hypermarket Segment held the major share of 44.9% in 2020
- North America held the major share of 37.0% in 2020
According to the distribution channel, the supermarket/hypermarket dominated the market and is likely to remain dominant throughout the tactical footwear market forecast period. This is attributed to the fact that consumers prefer buying tactical footwear from supermarket/hypermarket to find the perfect fit. Moreover, the staff present in these stores helps to understand the benefits and functionality of boots and choose from the available varieties.
Region wise, North America held the major share of 38% of the global tactical footwear market, owing to the presence of key players, surge in demand from people participating in adventurous activities, and strong military sector in the region.
The major players profile in the tactical footwear market report include Adidas AG, APEX Global Brands, Asics Corporation, Belleville Boot Company, Garmont International S.r.l., Maelstrom Footwear, Nike, Inc., Puma SE, Under Armour, Inc., and 5.11 Tactical.
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