Figure Skates Boots Industry Market Size, Share, Growth, and Industry Analysis by Type (Recreational & Professional), By Application (Men, Women, Boys & Girls) Regional Forecast (2022-2028)

Updated On: 06 May 2024

REPORT OVERVIEW

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The global figure skates boots industry market size is USD 71 million in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with figure skates boots industry experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 87 million in 2028, exhibiting a CAGR of 3.5% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The figure skate boots industry consists of a boot and a blade that is screwed onto the boot sole. To meet the evolving needs of consumers, they are now offered in a huge variety of materials, types, designs, and customization options. Figure skating boots have become more popular recently because they enhance individual performance, offer better support and flexibility, and reduce shocks or pressure from falls, which prevents sports injuries.

Although affordable sets are available for recreational skaters, the majority of figure skaters buy their boots and blades separately and have the blades mounted by a qualified skate technician. A boot that is hinged at the ankle to provide lateral support while allowing for more flexibility is the most recent advancement in boot technology. In order to allow for a greater ankle bend, ice dance boots are typically a little lower in the back. A flexible elastic back is also a feature of some boots. The most obvious way that figure skates and hockey skates differ from one another is that figure skates have toe picks—large, jagged teeth—on the front of the blade.

COVID-19 Impact: Industry Imbalance to Restrict Market Growth

For consumer companies, the COVID-19 outbreak resulted in issues like unstable markets, a decline in client confidence, and challenges with import and export business. The global supply chain includes the sourcing of raw materials, packaging, and distribution. Moving commodities, chemicals, and other items has become challenging due to lockdowns. It had a financial impact on the markets for consumer goods in addition to having an immediate impact on markets, supply chains, supply and demand, and all of these other things. Producers of consumer are focusing on protecting their workforce, operations, and supply networks in order to handle this urgent situation. The pandemic impacted the industry dynamics, forcing organizations to revamp their entire operation structures to maintain stability amid the disruptions. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall consumer industry. This has partially impacted the figure skates boots industry.

LATEST TRENDS

"Rising Consumed Interest to Boost the Market Growth"

The primary factors driving the market growth are the rising consumer interest in sports like figure skating and the expanding number of other skating arenas. This is the major trend driving the market. The demand for figure skates boots industry is also rising due to increased awareness of the health benefits of figure skating and rising competition participation rates. In addition, the market is growing due to the widespread use of artificial or waterless ice-skating rinks, which lower manufacturing and operating costs while reducing reliance on the weather. In addition, the growing e-commerce market is boosting sales of figure skate boots thanks to simple product availability, adaptable payment methods, practical return procedures, and secure transactions. The industry is anticipated to grow during the forecast period thanks to this trend. Thus, it is anticipated that the increase adoption of 3D printing will increase overall market sales. These new developments and varieties in product are mostly to blame for the market's overall growth.

SEGMENTATION

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• By Types 

Based on type, the market is classified into Recreational & Professional.

• By Application

Based on the market is categorized into Men, Women, Boys & Girls.

DRIVING FACTORS

"Online Retail Shops that Give the Market Extra Boost"

The online segment is anticipated to drive market expansion during the forecast period because most vendors are implementing online retail strategies to reduce costs and increase profit margins, which is accelerating market growth. Online shoppers are drawn to retailers' quick return policies, secure transactions, and cash-on-delivery options. One of the factors contributing to an increase in market sales is the product's simple availability as well as the variety of options and varieties online. Additionally, the expansion opportunity for sports equipment sales through the online channel has compelled the vendors to enhance the security and dependability of their purchasing procedures, which is in turn driving up demand for these goods. As a result, the growth, and the increasing demand for online retail shops will boost the market. It will contribute to the expansion of the consumer goods industry and it will improve the overall figure skates boots industry market growth. t

"Increasing Participation to Encourage Market Expansion"

Figure, speed, and hockey skating have all spawned numerous sports divisions. Due to the unique experiences and enjoyment these sports provide, amateur participation in them as a recreational activity has increased. People are also turning to figure skating as a career at the same time. It can be enjoyed as a competitive sport or leisure activity. The demand for figure skate boots industry has grown as a result of increased participation. Additionally, a growing emphasis on creating environmentally friendly skating rinks is probably going to affect how popular hockey skates are. The demand for skates is anticipated to rise as ice skating becomes a more popular pastime. Over the course of the forecast period, the aforementioned elements are anticipated to affect sales of apparel for the figure skates boots industry. This will increase demand for the product and help the industry as a whole to expand. The increase competition in industry is helping the market to grow.

RESTRAINING FACTORS

"Increasing Injuries to Impede Market Expansion"

Given the nature of sports, injuries, which are common in the figure skates boots industry, are the main factor impeding the market. There are many important things to think about when skating, and these risks should be carefully considered. ACL tears, ankle sprains and fractures, head injuries, lacerations, hand and wrist injuries, and ankle sprains and fractures are some of the most frequent injuries related to ice and figure skating. This might be the main factor behind the market's decline. Therefore, during the forecast period, these factors are anticipated to restrain market growth. But as time goes on, this issue will be resolved in some way. If this problem is fixed, the market will start to grow right away.

REGIONAL INSIGHTS

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"North America Dominating the Market Across the Globe"

The market for figure skates boots industry in North America has benefited from the region's expanding industrial development and a number of driving factors that have boosted the potential sectors because this region is the product's primary user. The rising product use by men, women, boys & girls is boosting the figure skates boots industry market share. Trends toward rapid urbanization will support the market as a whole even more.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

•   Jackson Ultima (U.S.)
•   SP-Teri (U.S.)
•  Roces (Italy)
•   Risport Skates (Italy)
•   Riedell Shoes (U.S.)

REPORT COVERAGE

The research goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including current and potential market leaders. A sizable market expansion is anticipated as a result of a number of important factors. The research also examines factors that may increase the figure skates boots industry share in order to provide market insights. The report makes forecasts for market expansion over the anticipated time period. The objective of the regional research is to explain why one region dominates the global market. A number of properly taken into account factors prevent the industry from growing. The research also includes a strategic analysis of the market. It includes thorough market information.