The global ankle boots market is projected to grow steadily at an average Compound Annual Growth Rate (CAGR) of 3.8% from 2023 to 2033. With an estimated market value of USD 874.7 million in 2023, the market is expected to reach USD 1,270 million by 2033, driven by rising demand for fashionable, functional, and premium products.
Key Drivers of Market Growth
Several factors are poised to drive growth in the ankle boots market, including:
- Product Premiumization & Online Retail Expansion: As fashion trends evolve, the demand for higher-quality, designer ankle boots is increasing. Additionally, the rise in online shopping has provided consumers with greater access to a diverse range of ankle boots, helping boost market growth.
- Urbanization & Rising Disposable Income: The expansion of urban populations, particularly in emerging economies, combined with growing disposable incomes, is contributing to a significant uptick in the purchase of ankle boots globally.
- Sustainability Trends: An increasing consumer preference for eco-friendly, cruelty-free, and vegan footwear options, including waterproof and easy-to-size ankle boots, is further propelling the market.
Challenges to Market Expansion
Despite strong growth prospects, the ankle boots market faces challenges:
- Rising Labor Costs and Raw Material Prices: Fluctuations in raw material costs and labor expenses may impact the affordability and profitability of ankle boots.
- Competition from Alternative Footwear: Ankle boots face stiff competition from other types of footwear, and shifting consumer preferences could limit their growth, especially in markets where consumer tastes are rapidly evolving.
- Counterfeit Products: The availability of counterfeit ankle boots in the market could undermine brand value and hinder market growth for premium brands.
Key Segments in the Market
- By Product Type: The lace-up segment is the leading category, holding 23.5% of the market share in 2022, owing to their stylish and versatile design.
- By End User: Men’s ankle boots dominate the market with a share of 67.2% in 2022, driven by the higher overall consumption of men’s footwear.
Key Players
- Thursday Boot Co. Downtown Boot
- M.Gemi Corsa Concavo Boot
- Everlane Day Boot
- Blundstone Australia Pty Ltd
- Vagabond Shoemakers
- Nisolo
- MARC FISHER FOOTWEAR. LLC. Boot
- Asos Design Action Chelsea Boot
- Sam Edelman Packer Bootie
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Key Segments Covered
By Product Type:
- Kitten Heel
- Wedge Heel
- Block Heel
- Flat
- Lace-Ups
- Buckle
- Straps
- Tassel
- Others
By User:
- Men
- Women
By Shoe Size:
- < 6 inches
- 9 to 10 inches
- 10 to 11 inches
- > 11 inches
Key Regions Covered:
- North America
- United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- Middle East and Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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