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Published Date: 2015-06-24Number of Pages: 66

Footwear Market - Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020

Asia Pacific Footwear Market: Snapshot

The rise in disposable income of Asia Pacific consumers has augmented the fashion-consciousness of the customers, propelling the footwear market in Asia Pacific. Furthermore, the increasing population, escalating sports activities, and adoption of western culture are adding fuel to the growth of the market. Market players, on the other hand, are contributing to the swelling of market by involving in various partnerships, featuring new products, and providing cost efficient products. All these factors are promising high growth of the market over the forthcoming years. Moreover, high availability of raw materials and low wages reduces the overall cost of products, which allow the players to export their products to other parts of the world.

It is estimated that the Asia Pacific footwear market will reach the value of US$64.2 bn by the end of 2020, while expanding at a steady rate of 2.0% CAGR over the forecast period of 2014-2020.

Non-athletic Footwear to Exhibit Steady Growth Due to Arrival of New Products

The market for footwear in Asia Pacific can be segmented on the basis of type, which include athletic and non-athletic footwear, and on the basis of consumer group into men, women, and kids. In the year 2013, non-athletic shoes held a dominant share in the market. This segment consists of numerous types of footwear including dress and casual footwear for kids, women, and men such as boots, pumps, and loafers. This segment also includes various type of formal footwear, flip flops, and house slippers. Whereas, athletic footwear includes active life style, sports, and athletic footwear. The segment also includes several types of footwear that are not specifically manufactured of any sports but for performance inspired and for other activities. Changing life style, increasing population, and the vast variety of products are few of the drivers contributing to the growth of all these segments. Nevertheless, the non-athletic footwear segment is anticipated to exhibit a stable growth rate over the forecast period as it is the most commonly used footwear.

Hosting International Sports Events Fuels Athletic Footwear Demand in China

On the basis of geography, the market for footwear in Asia Pacific is divided into countries such as Thailand, Australia, Singapore, Japan, India, China and Rest of Asia. Among these, China is expected to showcase highest rate of growth followed by India and Japan. China non athletic and athletic footwear segments are propelled by increasing spending capabilities of consumers and the increasing population. The rising media exposure, rapid development of the economy, and hosting of international sports events are other key factors helping China to expand its market for athletic footwear. As consumers in China are becoming more aware about healthy and active lifestyles, the non-athletic is also envisioned to grow significantly over the forthcoming years. 

The market for non-athletic and athletic footwear in India are projected to exhibit an impressive growth rate owing to demographic factors and strong economy. Manufacturers are innovating their strategies to gain traction of Indian customers and expand their business. Designs at a low cost, introduction of new shades, and growing focus on sportswear are few of the factors responsible for development of footwear market in India. Urbanization, increasing retail activity, secure online purchase systems, entry of foreign players, and rising income levels are promising lucrative growth opportunities for India footwear market. 

Prominent players in the market for footwear in Asia Pacific are striving to expand their market by adding new products to their portfolio. Few of the key players include ANTA Sports Products Limited, Li Ning Co Ltd, ABC-Mart, Bata India Ltd, and Asics Corp.

Footwear includes non-athletic and athletic footwear. Non-athletic footwear can be defined as different kinds of footwear which can be classified into fashion footwear, dress formal and casual footwear. Athletic footwear includes all kinds of footwear designed for physical exercises or for sports purpose. Athletic footwear includes sports (Cross Training), insert shoes, backpacking boots for children, men and women, and hiking shoes. 

 

Asia Pacific footwear market is anticipated to go through several changes such as new style fashion and variations in different footwear types. Consumers mainly desire non-athletic footwear due to increasing disposable income of consumers. Moreover, increasing varieties of products, rising population, and changing lifestyle are the drivers contributing to the growth of the footwear market in Asia Pacific. Non-athletic footwear is estimated to have a stable growth rate during the forecast period as it is the most commonly used footwear among users. In addition, increasing purchasing power of population and growing fashion consciousness towards footwear products are anticipated to increase the demand for footwear in the major countries of Asia Pacific including China, India, Japan, Australia, Singapore, Malaysia, and Thailand among others in the forecast period. 

 

Among different categories of footwear, non-athletic footwear is expected to have most major development over the forecast period, as increasing rising population and changing lifestyle are anticipated to improve the non athletic footwear market.

 

The Asia Pacific footwear market by product type is segmented into non-athletic footwear and athletic footwear. Non-athletic footwear includes dress footwear and casual footwear for men, women, and children such as loafers, pumps, and boots. Athletic footwear includes footwear such as athletic, sports, and active life style footwear. It also includes footwear such as house slippers, flip flops, and various type of formal footwear. In terms of volume, insert shoe held bigger market share compared to hiking shoes, backpacking boots and sports (cross training). However, casual footwear held largest market share compared to fashion footwear and dress/formal. The market size for non-athletic footwear is larger as compared to the athletic footwear. Non-athletic footwear is anticipated to dominate the footwear market during the forecast period from 2014 to 2020.

 

The Asia Pacific footwear market by gender is segmented into kid’s footwear, women footwear and men footwear. The market for kid’s footwear is relatively bigger as compared to the men and women footwear. Changing lifestyles, propensity of people to spend more is driving the market for kid’s footwear market. In addition, increasing varieties of products are expected to boost kid’s footwear market in Asia Pacific. 

 

The report also offers an understanding of volume (million units) and value (USD million) of footwear. The study also offers forecast from 2014-2020 and highlights current and future market trends. The report also offers an understanding of brand shares of footwear in China, India, Japan, Australia, Singapore, Malaysia, Thailand and Rest of Asia Pacific.

 

By country, the market has been segmented into China, India, Japan, Australia, Singapore, Malaysia, Thailand and Rest of Asia Pacific. Growing consumer base are contributing to the increasing demand for footwear in Asia Pacific during the forecast period. In addition, change in lifestyle and expansion of shopping centers is also expected to increase the demand for footwear.

 

Moreover, the report offers the company market share analysis of key players in this region. The report also offers an understanding of brand shares of footwear market. The study in product wise division covers non-athletic shoes and athletic shoes in terms of market size in USD million and volume in million units. 

 

The key players operating in footwear market are Asics Corp, Bata India Ltd, ABC-Mart, Li Ning Co Ltd and ANTA Sports Products Limited among others. 

 

Footwear Market: By Type

  • Athletic Footwear
  • Non-athletic Footwear

Footwear Market: By country

  • China
  • India
  • Japan
  • Thailand
  • Singapore
  • Australia
  • Malaysia
  • Rest of Asia Pacific


 
 
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