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The gumboots market size is forecast to increase by USD 451.28 million, at a CAGR of 4.92% between 2023 and 2028. The accelerated growth of the market is due to various factors, including the increase in online retail sales, the changes in weather conditions, and the use of proprietary technology.
The report offers extensive research analysis on the Gumboots Market, with a categorization based on Distribution Channel, including offline and online. It further segments the market by Application, encompassing oil and gas/mining/construction/light industries, agriculture/forestry/food processing, and others. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD million) for all the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the gumboots market growth is the use of proprietary technology. Gumboot manufacturers are facing severe competition among themselves to differentiate their offerings among consumers. As a result, several companies use proprietary technologies to improve their product quality and to stand out from their rivals. Furthermore, proprietary technologies are used for making several parts of the gumboots, such as the materials used for making the exterior waterproof layer of gumboots or the interior clothing of the gumboots.
In addition, the material contains evenly distributed air pockets, which makes it thermally insulating and lightweight and, at the same time, provides strength and flexibility to the structure. Furthermore, Weyco Group Inc. Bogs also uses a number of proprietary technologies, such as Durafresh and Bogs Max-Wick, in its gumboots. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the gumboots market growth is the increasing focus on sustainability. Sustainability has emerged as a significant focus area across industries as each and every business must contribute in their own manner to reduce their impact on the planet by adopting measures such as efficient management of resources and waste reduction. In addition, companies in the global gumboots market are also following suit and have implemented several policies to encourage sustainability in their processes as well as create awareness regarding sustainability among consumers.
For instance, Weyco Group Inc. Bogs runs a sustainability program that incentivizes customers to return their used Bogs footwear, including gumboots. In addition, the company pays for the return shipping, refurbishes the received footwear, and forwards them to non-profit organizations. Furthermore, Hunter Boot encourages its customers to return the used boots by offering a free return package service to the company and also provides a 15% discount code for the next purchase the customers. Hence, such factors are driving the market growth during the forecast period.
Fluctuating raw material prices are one of the key challenges hindering the gumboots market growth. The production of gumboots comprises the procurement and use of several raw materials according to the type of gumboot. In addition, the major raw material used in the manufacturing of gumboots is rubber. Furthermore, rubber has been witnessing a continuous fluctuation in its price, leading to an uncertain operational cost for gumboot manufacturers.
For example, natural rubber was traded at around USD 1,585 per ton in December 2019, which rose to over USD 2,370 per ton in April 2022. Such fluctuations cause disruption in the operational activities of companies and lead to uncertainty in production costs. Furthermore, changing economic conditions also adversely affect the labor costs of other international countries from where the companies import their raw material supplies. Hence, such factors are negatively impacting the market which in turn will hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Gumboots Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aigle International SA: The company offers gumboots such as Safety Gumboots with Steel Toe Caps Safety Rain Boots and 1o inch winner PVC gumboots.
The research report also includes detailed analyses of the competitive landscape of the market and information about 19 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. An offline segment of the global gumboots market comprises diverse retail outlets and stores, catering to various consumer needs and preferences. In addition, these channels provide physical access to gumboots across different regions and demographics.
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The offline segment was the largest segment and was valued at USD 964.66 million in 2018. Moreover, retailers specializing in outdoor gear, hiking, or sports equipment often stock a range of gumboots. In addition, these stores cater to outdoor enthusiasts, offering durable and weather-resistant footwear suitable for hiking, fishing, and other outdoor activities. Furthermore, many department stores and larger supermarkets include a section dedicated to footwear, including gumboots. In addition, these outlets provide convenient access to a wide audience, offering affordable and practical gumboot options for general consumers. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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Europe is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growth of the gumboots market in Europe is influenced by West-European countries such as the UK, Germany, France, Russia, and Spain. In addition, the demand for gumboots in Europe is led by both individual buyers and industries. Moreover, the presence of a huge fashion industry and a majority of gumboot brands in the region has propelled and popularized the use of gumboots among the population, especially in Europe. Furthermore, increasing international tourism post-pandemic and the popularity of the region as a shopping destination for luxury products also contribute to the growth of the market in Europe. Hence, such factors are driving the market growth in Europe during the forecast period.
The gumboots market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Gumboots Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.92% |
Market Growth 2024-2028 |
USD 451.28 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.99 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 33% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aigle International SA, Bata Brands Sarl, BEKINA BOOTS, Bradshaw Taylor, Burberry Group Plc, Crocs Inc., dav, Deckers Outdoor Corp., Dunlop Protective Footwear, Gumleaf, Hunter Boot Ltd., ILSE JACOBSEN HORNBAK IJH AS, J. Barbour and Sons Ltd., Joules Ltd., Kamik, Le Chameau, Tretorn Sweden AB, WeTriba GmbH and Co.KG, and Weyco Group Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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