by Snow boots provide protection from extreme winter weather conditions and are essential for various outdoor winter activities like skiing, snowboarding, hiking, etc. Made from waterproof and insulating materials like rubber and fleece, snow boots keep feet warm and dry in snow.
The global Snow Boots Market is estimated to be valued at US$ 2094.39 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increase in participation in various outdoor winter sports activities like skiing, snowboarding, etc. has been a key growth driver for the snow boots market. According to the National Ski Areas Association, ski area visits have increased from 53.6 million in the year 2015-4.5 to 59.1 million visits in the year 2020-21, signaling growing interest among people for these recreational winter activities. As snow boots are specialized protective footwear suitable for such activities conducted in snowy landscapes, their demand has risen in tandem with the increase in the number of outdoor winter sports enthusiasts globally. High insulation and waterproof properties of snow boots ensure safety and comfort for participants in these sports and activities held in snow-clad terrains.
SWOT Analysis
Strength: Snow boots offer protection from snow, ice and extreme winter weather conditions. They provide insulation and keep feet warm and dry.
Weakness: Snow boots tend to be bulky and heavy, making them unsuitable for indoor or casual wear. They can be expensive compared to regular shoes.
Opportunity: Population in regions with extreme winters such as North America and Europe are growing, driving demand for snow boots. Rising winter tourism is also opening new opportunities.
Threats: Mild winters due to climate change could reduce the need for specialized snow boots in some markets. Competition from cheaper alternatives such as thermal socks also poses a threat.
Key Takeaways
The Global Snow Boots Market Demand is expected to witness high growth. The global Snow Boots Market is estimated to be valued at US$ 2094.39 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030.
North America currently dominates the snow boots market owing to cold climatic conditions and heavy snowfall in countries like US and Canada. The snow boots market in Europe is also sizable driven by winter sports tourism in countries like Austria, France and Switzerland.
Key players operating in the snow boots market are AbbVie Inc. (U.S.), Bausch Health Companies Inc. (Canada), Teva Pharmaceutical Industries Ltd. (Israel), Cipla Inc. (India), Lupin (India), Sun Pharmaceuticals Industries Ltd. (India), Hikma Pharmaceuticals PLC (U.K.), AstraZeneca (U.K.). Snow boot brands focus on innovations including enhanced insulation, breathable fabrics and lightweight designs to attract different consumer segments. Marketing campaigns during the winter season also aim to boost sales.
Note:
Source: Coherent Market Insights, Public sources, Desk research
We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
