NEWARK, Del, Sept. 13, 2022 (GLOBE NEWSWIRE) -- The cowgirl boots market is projected to be valued approximately US$ 413.1 million by 2032, up from US$ 248.8 million in 2022, with a 5.2% CAGR from 2022 to 2032.
New and More Effective Boots Are Obligated
The increasing demand for innovative footwear is a major factor driving the cowgirl boots market. Consumer fashion awareness, footwear variety, and easy product availability are all expected to create lucrative opportunities in the global cowgirl boots market. Discounts on a wide variety of boots are available from online retailers. As a result, demand for cowgirl boots is expected to rise.
Attempting to Implement Advanced Technologies
To meet the growing demand for cowgirl boots, shoe manufacturers are developing manufacturing processes, innovating, and integrating technology to create comfortable and fashionable shoes at affordable prices. These elements are expected to boost the market for cowgirl boots.
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Stumbling Blocks of the Cowgirl Boots Market
On the other hand, the presence of a large number of regional players selling counterfeit products is expected to impede the cowgirl boots market during the forecast period.
Several unorganised and local players sell low-cost products made of low-quality materials that are uncomfortable to wear and cause skin problems. This is likely to restrain the growth of the cowgirl boots market over the forecast period.
Regional Outlook
Furthermore, factors such as rising middle-class population, rapid urbanisation, and high demand for western brands in North America are expected to attract cowgirl boots market manufacturers from around the world to the region.
Due to the region's large youth population, particularly in India and China, Asia Pacific is expected to be the fastest growing cowgirl boots market in terms of CAGR during the forecast years.
Key Takeaways from the Cowgirl Boots Market
- During the forecast period, the North American cowgirl boots market is expected to lead with a market share of 36.5%.
- During the forecast period, Europe's cowgirl boots market is expected to have the second highest market share of 14.6%.
- In 2027, the cowgirl boots market is expected to be worth US$ 320.57 million.
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Competitive Landscape:
Among the major players in the global cowgirl boots market are Ariat, Stetson, Wolverine, Rocky, Justin Boots, Laredo, Lucchese, Old Gringo, Roper, and Tony Lama. Due to increased competition, many cowgirl boots market participants are increasing R&D in order to develop reliable and superior products.
Acquisitions, expansions, and collaboration with startup companies are the primary strategies used by manufacturers to gain significant market share. Furthermore, the cowgirl boots market is expected to improve on the trend of developing new products with appealing packaging and spending more on product promotion.
Recent Development:
- Sponsorship Agreement
At the FEI World CupTM Finals in Las Vegas, Ariat International®, the US-based leader in Western and English footwear and apparel, signed an exclusive licencing and sponsorship agreement with the International Equestrian Federation (FEI).
- Rebranding
Stetson worked with Tractorbeam, an award-winning boutique Dallas-based agency, to complete the rebrand.
- Collaboration
Justin® Boot Company, a division of H.H. Brown Shoe Company, has announced a collaboration with multi-media superstar Reba McEntire.
- Merger Agreement
Justin Industries, Inc. and Berkshire Hathaway announced that they have approved and entered into a Merger Agreement, which calls for a cash tender offer of $22.00 per share to Justin common stock holders by a Berkshire Hathaway wholly-owned subsidiary.
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Key Segments
By Product:
- Western Boots
- Work Boots
- Riding Boots
- Walking Boots
- Other
By Sales Channel:
- HyperCowgirl Boots Markets / SuperCowgirl Boots Markets
- Footwear Stores
- Convenience Stores
- Online
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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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