DUBAI, United Arab Emirates, Sept. 04, 2022 (GLOBE NEWSWIRE) -- Global cowboy boots market is set to witness an impressive growth rate of 6.9% over the forecasted years of 2022 to 2032. The cowboy boots market size is anticipated to reach a valuation of around US$ 462.8 Million by the end of year 2032 by increasing from the current valuation of US$ 237.5 Million in 2022.
Current fashion preferences among young people worldwide as Western culture becomes more prevalent can be regarded as the major factor for the acceptance of cowboy boots as a trending product. With the development of telecommunication and transportation technologies, cultural barriers are rapidly dissolving, and supply of cowboy boots are already witnessed all over the world.
Demand for cowboy boots has increased as a result of an increase in specialized and franchised shoe stores, as well as partnerships between shoe manufacturers and other retail chains. In the upcoming years, the cowboy boots sector is expected to benefit from a variety of rising trends in a number of different regions other than USA. The global cowboy boots market may also be impacted by product developments made by new market participants, such as alligator boots that is a redesign of an existing model.
Rising income and the shift in general fashion sense of youths is also regarded to be one of the prominent factors for the development of cowboy boots market in Asia Pacific and Eastern European countries.
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Key Takeaways from Cowboy Boots Market Study
- The overall growth of the global cowboy boots market is estimated to be around US$ 225 Million over the forecast decade covering the years 2022 to 2032, by following the average CAGR of 6.9%.
- The year-on-year growth of the overall market during the years covering 2016 to 2021 was figured out to be slightly lower, that is 6.3%, than that is predicted for the coming years.
- Western boots are the most attractive segment for the cowboy boots market players having a demand of up to 35% of the total.
- According to the application, Women cowboy boots segment is growing at a faster rate than the men's cowboy boots segment as per the new market research report.
- North America captures the largest market share of the target market that is nearly 30% as per the cowboy boots market survey report released by FMI.
- European region or countries together contributed for almost 13% of the overall market sales achieved in the year 2022.
- Asia Pacific is the fastest growing market with respect to demand for cowboy boots by the younger generation.
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Competitive Landscape for the Cowboy Boots Market
Some of the well-known packaging market players are Ariat, Stetson, Wolverine, Rocky, Justin Boots, Laredo, Lucchese, Old Gringo, Roper, and Tony Lama among others.
Businesses dealing in cowboy boots also compete on a range of other factors, such as new product releases, pricing, materials selection, and promotional efforts, to gain a competitive edge over their rivals in the marketplace. Often, renowned cowboy boots market players use social media and online marketing to let customers know when new products are launched that helps them to gain much demand in a very short period of time. E-commerce websites have seen significant growth in past couple of years and is one of the favored channels for the cowboy boots market's key participants in present time.
Recent Developments in the Global Cowboy Boots Market:
- Givenchy, Céline, and sometimes even Chanel embraced the look for their fall/winter 2022 shoe ideas, pairing them with skirts, tweed suits, and embroidered items to lend the traditional cowboy boots a fresh look and new life in the global market.
Cowboy Boots Market by Segmentation
By Type:
- Western Boots
- Work Boots
- Riding Boots
- Walking Boots
By Application:
- Men
- Women
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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