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Footwear Market: Asia Pacific Analysis, Future Trends | Forecast 2020
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On the basis of product type, the report segments the Asia Pacific footwear market into athletic footwear and non-athletic footwear. Athletic footwear includes hiking shoes, insert shoe, sports (cross training), and backpacking boots. The demand for insert shoes is the highest among the athletic footwear segment. Non-athletic footwear has been sub-segmented into casual footwear, fashion footwear, and dress/formal footwear. Flip flops, house slippers, pumps, loafers, boots, and others are included in the non-athletic footwear segment. The casual footwear segment drives the non-athletic footwear market in Asia Pacific.
Non-athletic footwear contributes majorly towards the growth of the regional footwear market as consumers usually prefer non-athletic footwear over athletic footwear. In 2013, the non-athletic footwear market was worth US$34.13 bn in 2013 and is anticipated to expand at a CAGR of 2.1% during the period between 2014 and 2020. The valuation of the non-athletic footwear market is expected to reach US$39.44 bn by 2020. The demand for kids’ footwear is relatively higher compared to men’s and women’s footwear in the Asia Pacific footwear market.
The report studies the Asia Pacific footwear market across some of the key countries such as Japan, India, China, Singapore, Thailand, Malaysia, Australia, and Rest of Asia Pacific. In terms of revenue, China led the overall market in 2014 and is anticipated to continue its dominance throughout the forecast period. The rapid growth of the regional market in China can be attributed to the rising purchasing power of consumers, product innovation, and growing fashion consciousness among the population. Furthermore, the low manufacturing costs of footwear due to the availability of cheap labor and the presence of local footwear brands have led to stiff competition in the footwear market in China.
Describing the competitive landscape, the report profiles some of the key players in the Asia Pacific footwear market such as ABC-Mart Inc., Li Ning Co. Ltd., ANTA Sports Products Ltd., Asics Corp., and Bata India Ltd. The report further provides insightful information about the key players including their financial overview, business strategies, company overview, and recent developments.
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