The global snowshoe market was valued at $25 million in 2022 and is expected to reach $26.53 million in 2023. According to the report, snow shoe sales are predicted to grow at a CAGR of 6.5% between 2023 and 2033, reaching US$ 49.8 million. From 2018 to 2022, the market grew at a 6.1% CAGR.

Snow shoes are a commonly used commodity in parts of the world that are mostly covered in snow throughout the year. Moreover, growing popularity of snowshoeing and several other winter sports is making a positive impact of snow shoes sales. People also use snow shoes to avoid picking up any critical foot injuries while walking on snow. In winter sports events, athletes use snow shoes for more comfortable running, trekking and hiking. The latest versions of the snow shoes come with superior design that make them more efficient and accountable. Further, companies that manufacture snow shoes are emphasizing on making their products lighter and easy to wear. The aforementioned factors are anticipated to propel the growth of the global market for snow shoes in the forthcoming years. Hence, widespread availability of snow shoes in all sizes and shapes and stylish designs are boosting the sales of snow shoes. Some of the leading brands are launching a wide range of inexpensive snow shoes in order to gain more market share.

Manufacturers are concentrating on development of snow shoes that are much lighter and comfortable to wear. Factors as such are expected to support the growth of the global snow shoes market over next couple of years. In addition, reinvented designs coupled with availability of snow shoes in all shapes and sizes is further boosting the popularity of snow shoes among consumers. Manufacturers are also introducing snow shoes with lower prices in order to penetrate a wider pool of price-sensitive consumers.

Highlights from the Report Include

1- On the basis of product type, the recreational and trekking snowshoes segment is expected to remain dominant in 2017 and beyond. This segment currently commands for over one one-third market share in terms of revenue is expected to witness an above average CAGR during the forecast period. Meanwhile, the racing snowshoes segment is projected to retain its second position over 2022.

2- By channel, the speciality stores segment and online segment collectively account for more than 50% revenue share of the global market. In addition, the former is expected to surpass a valuation of US$ 8 Mn towards the end of 2022, expanding at a significant CAGR. 

List of Key Companies Profiled in The Report

• Adidas AG
• Reebok International Ltd
• Nike, Inc.
• PUMA SE
• ASICS Corporation
• Burberry Group plc
• Chanel International B.V.
• GV Snowshoes
• Others

3- By price range, the economy segment is projected to remain highly lucrative over 2022. Currently, the segment is commands for close to 38% revenue share of the market. During the forecast period, economy segment is expected to exhibit a CAGR of 5.6%.

4- Among region markets, North America is anticipated to dominate the global snow shoes market in terms of revenue during the forecast period. The snow shoes market in North America is expected to, reflect a healthy CAGR of 5.3% between 2017 and 2022. This is primarily owing to the high participation of people in winter sports and the widespread popularity of snowshoeing in the region.

Market Competition

The robust demand for snowshoes is driving manufacturers to rapidly expand their locations and production capacities. Companies specializing in hiking equipment are investing in the development and optimization of materials, manufacturing technology, and designs to offer high-quality shoes to the growing market of outdoor enthusiasts. To broaden their market presence, companies are also extending their sales offices and distribution hubs into new and potential geographical clusters.

In a notable move, RightOnTrek has recently completed the construction of its flagship facility in Columbia Falls, focusing on renting out backpacking and camping gear. Wilderness EDGE, situated near Glacier National Park and in close proximity to Glacier Park International Airport, stands as a premier outdoor adventure store. Originally intended for the spring and summer seasons, RightOnTrek has expanded its services to include snowshoe rentals, aligning with the increasing demand for winter recreational activities.

Casago, based in Scottsdale, has strategically expanded its presence in West Virginia after acquiring Mountain Valley Realty. This acquisition adds to Casago's growing portfolio of properties in Snowshoe, contributing to its remarkable growth in the region. Since the virtual opening of Casago's Snowshoe, West Virginia franchise in October 2020, the company has been actively and aggressively expanding its footprint throughout the state.