PORTLAND, OREGON, UNITED STATES, September 19, 2022 /EINPresswire.com/ — The specialist nature of the tactical footwear market presents investment potential for numerous manufacturing firms. Stakeholders intend to invest and expand their businesses by developing new goods since the varied companies who control the tactical footwear sector have a limited reach. Thus, emerging businesses can benefit from a restricted presence. Numerous businesses focus only on the manufacturing and marketing of tactical footwear. For instance, 5.11 Tactical increased the number of company-owned retail locations nationwide in 2019. Additionally, this business provides superior tactical footwear goods for both men and women.
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The tactical footwear market was estimated to be worth $1,547.3 million in 2020; by 2030, it is anticipated to have grown to $2,574.1 million, with a CAGR of 5.3%. Due to the numerous advantages of tactical boots, including their increased popularity, superior flexibility, high reliability, improved breathability, lightweight design, slip-resistance, robust uppers, and quiet soles, they accounted for the largest share of the tactical footwear market in 2020.
The desire for stylish and comfortable tactical footwear is driving the footwear industry’s rapid expansion, according to the CXOs of major corporations. The market for tactical footwear is expanding due to factors such quick urbanisation, changing demographics, rising military boot demand, and soaring industrial and mining boot demand. Additionally, when picking the right footwear, buyers take comfort into account. Consumers are also willing to spend money on fashionable and cosy footwear right now. Therefore, it is anticipated that each of these aspects will help the market as a whole grow throughout the forecasted time.
The CXOs continued by claiming that the global market for tactical footwear is growing significantly as a result of the increased use of online purchasing platforms. The majority of the major competitors in the global tactical footwear market are always developing their online and digital distribution channels. Leading companies are concentrating on digitalization as a result because internet platforms offer a promising opportunity for growth in the future.
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Key Learnings
With a CAGR of 5.9% throughout the predicted period, the shoe segment would experience the fastest development.
The women’s market experienced significant increase of 6.6%.
In 2020, the Supermarket/Hypermarket Segment has a 44.9% market share.
In 2020, North America held the largest share with 37.0%.
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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David Correa
Allied Analytics LLP
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