by Snow boots have become an essential winter footwear for activities like skiing, snowboarding, hiking, and other winter sports. Manufacturers produce snow boots made from insulated materials like wool and synthetic thermal linings to keep the feet warm in extreme winter weather conditions. Snow boots provide excellent waterproofing, durability, and traction on icy terrain. People engaged in adventure sports like skiing and snowboarding rely on snow boots for grip and insulation while staying outdoors in sub-zero temperatures for long periods. The increasing participation in winter activities has augmented the demand for technical snow boots designed for specific sports.
The global snow boots market is estimated to be valued at US$ 2412.74 Mn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends gaining traction in the Global Snow Boots Market Size is the growing popularity of eco-friendly and sustainable boots. Consumers are increasingly preferring boots made from natural and recycled materials that have lesser environmental impact. Many leading manufacturers have launched boot lines developed from biodegradable materials, plant-based plastics, natural rubber, and leftover materials from other industries. Eco-friendly snow boots offer theadded advantage of breathability along with eliminating the use of harmful chemicals. The sustained focus towards sustainability and circular economy is expected to drive the future demand for greener snow boot options.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the snow boots market is moderate. It requires significant capital to build manufacturing facilities and establish brand value.
Bargaining power of buyers: The bargaining power of buyers in the snow boots market is high. Buyers have a variety of options available from various brands.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. There are several raw material suppliers for snow boots manufacturers.
Threat of new substitutes: The threat of new substitutes is low. There are limited alternatives available for snow boots in snowy regions.
Competitive rivalry: The competitive rivalry in the snow boots market is high. Key players compete on the basis of product quality, innovation, brand reputation and pricing.
Key Takeaways
The global snow boots market is expected to witness high growth over the forecast period. The global snow boots market is estimated to be valued at US$ 2412.74 Mn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031.
North America region currently dominates the market owing to extreme snowfall in countries like the US and Canada. The Asia Pacific region is forecasted to grow at the fastest pace during the forecast period due to increasing disposable incomes and popularity of winter sports in countries like China, Japan and South Korea.
Key players: Key players operating in the snow boots market are AbbVie Inc., Janssen Global Services, Johnson & Johnson, F. Hoffmann-La Roche Ltd, Amgen Inc., Pfizer Inc., Novartis, Astellas, Bristol-Myers Squibb Company, Merck Sharp & Dohme Corp., UCB SA, and Allergan plc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
