Read the extract below and answer the questions that follow:

Hiking Footwear Market Share, Size, Industry Report, Key Player,

Major Segments, and Forecast

The hiking footwear market is expanding as hiking becomes more and more popular as a leisure

activity that has numerous health benefits, including enhanced cardiorespiratory fitness, lowered

blood pressure, and a decreased risk of heart disease. There is steady expansion in the market due

to the availability of various types of hiking footwear, including heavy hiking boots, trail runners, light

hiking boots and trail shoes, as well as their importance in facilitating a comfortable hiking

experience and lowering the risk of an ankle injury.

The growth of the market for hiking footwear is being greatly accelerated by its unique qualities, such

as extended durability, lightweight design, and flexibility. The hiking footwear market growth is also

being significantly influenced by government programmes to encourage environmentally friendly

travel and physical activity among the populace. Over the course of the projection period, it is

predicted that the market will be stimulated by market participants' efforts to create new items of

exceptional quality that fulfil consumer expectations.

Source: https://www.digitaljournal.com/pr/global-hiking-footwear-market-size-to-grow-at-a-cagr-of-3-

30-until-2027#ixzz7fMHuMWnC

1.3.

Taking into consideration the characteristics of the hiking footwear industry, identify and

analyse the type of market structure. Comment on the efficiency and profitability of firms

operating in such a market.

(20)