Is Rising Outdoor Physical Activities Driving Outdoor Footwear Market?
Outdoor footwear market value is estimated to register US$ 82.62 Bn in by 2032-end. Meanwhile, utilization of outdoor footwear is expected to increase at a CAGR of around 7.1% over the upcoming years.
COVID-19 forced countries across the world to go into lockdowns. Moreover, the outdoor footwear industry persisted immune in some parts of the world as awareness about physical fitness and improving immunity became important.
The hiking and trail running became one of the favourite activities for citizens who were interested about their physical health and had an adventurous spirit in them, which motivated them to attain outdoor footwear for their weekend hikes and run
Increase in Hiking activity spur the demand for Outdoor Footwear Market
Outdoor footwear utilization in the hiking category computes the highest share, which is significantly associated to the fact that people love to go on longer hiking and trekking trips in their free time.
The hiking category is followed by trail running. This is particularly the case since consumers have become aware about the ill-effects of running on pavements, which may lead to weary joints. However, trail running offers a much softer surface to run on, and being easer on one’s joints, helps run longer.
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Trail running is much more enjoyable. People are expected to find themselves simply engaged in the joy of jogging rather than trying to keep a precise speed. Trail running adds fun to a runner’s life.
Adventure sports are also promoted by several government bodies in association with the United Nations World Tourism Organization (UNWTO). These factors have also improved the appeal of hiking, with more individuals engaging in this health and wellbeing activity across the globe.
As a result, demand for hiking gear such as backpacking tents, water bottles, and hydration gear, as well as hiking and trekking footwear, has increased. Consumers are increasingly looking for innovative and environmentally-friendly technology as demand grows.
In the recent years, there has been higher interest in healthier lifestyle, especially in Europe and America. Utilization of outdoor footwear, in these regions, is expected to witness significant increase owing to increasing awareness of citizens towards adventurous sports.
Increasing Urbanization is Rising the Demand for Outdoor Footwear Market
With the rise of urbanization, cities are focusing on innovative methods to offer inhabitants with places for adventure sports, and outdoor exercise is one such alternative. Outdoor sports activities such as trail running allow participants to exercise in nature. Running, hiking, and trekking can help a broad spectrum of people while also improving their overall physical health.
The global outdoor footwear industry is expected to increase at a significant rate due to a number of driving factors. Some of them are increasing requirement for young participants to feel secure while participating in outdoor activities, easy availability of products due to Internet connectivity, lavish investments in promotions showing product characteristics, and increasing customer awareness about the benefits of recreational activities.
After COVID-19, physical fitness has attained great importance in most people’s lives. Physical activity is essential for good health and a long life. Natural environs reduce emotional and physiological stress, making outdoor sports and activities more restorative than indoor ones.
One of the major components contributing to the manufacturing cost of outdoor footwear is logistics and transportation, and to decrease this and make sales profitable, manufacturers are implementing new innovative design technologies, such as usage of recyclable plastics and 3D printing to reduce the overall cost of the footwear.
The growth of direct customer sales channels via online mode helped increase 3D printing innovation, as newer manufacturers were easily able to showcase their products to a larger audience and attract newer customers in target markets. In recent years, online sales channels have become popular, and letting customers to shop for a variety of products right from their homes. Outdoor footwear sales via the online mode is predicted to increase at a significant rate over the upcoming years and reach 2X its current market valuation by 2032.