The Asia pacific athletic sportswear and footwear market size was valued at $89.6 billion in 2019 and is projected to reach $110.6 billion by 2027, registering a CAGR of 4.3% from 2021-2027.
Athletic sportswear and footwear are shoes & apparel that are worn by a user mainly during performing recreational and sports activities. The emerging countries of the Asia-Pacific region such as India and China offer lucrative opportunities to the players in the sports apparel market. Increasing disposable incomes and growing health awareness among individuals have fostered the growth of the market in the region. International brands are actively expanding in the Asia-Pacific region to tap the latent opportunities in the region.
The growth of the athletic sportswear and footwear market is attributed to increase in fitness conscious consumers in countries like India, China, and others. Furthermore, rise in expenditure on sports training and development among children, owing to increase in consciousness about the benefits of engaging in sports activities such as increased concentration and problem-solving ability fuels the demand for athletic sportswear and footwear market in terms of value sales. Moreover, changing paradigm of educational system supports the growth of the sport industry and industries dependent on it. In addition, rise in sports education and sports training in academics has significantly increased the awareness toward sports and fitness. Thus, many school/educational institutes are offering training to the students, providing them an opportunity to compete in various sports competitions. In addition, busy and hectic lifestyle coupled with growing instances of consumers choosing outdoor activities such as adventure sports to unwind or break the monotony of their daily life boosts the athletic sportswear and footwear market growth. Furthermore, initiatives taken by various governments in countries like India, Australia, and others to promote sports, health, and fitness have led to increased consciousness about sports and sports-related products such as sport shoes, running and walking shoes, tracksuits and others, which in turn drives the growth of market.
The key manufacturers in the Asia-Pacific athletic sportswear and footwear industry are focusing toward IoT (internet of things) embedded technology. Thus, these manufacturers are launching IOT (Internet of Things) infused new innovative athletic sportswear and footwear products including smart t shirts, smart shoes to remain competitive in the market. Thus, rapid innovation drives the athletic sportswear and footwear market growth.
The Asia-Pacific athletic sportswear and footwear market segments are categorized into product type, sports, and user. By product type, it is classified into sports shoes, running and walking shoes, hiking and backpacking shoes, aerobic and gym wear shoes, tracksuits and jerseys, t shirts and shorts, others. By sports, it is divided into football, cricket, basketball, tennis, adventure sports, cycling, yoga and gymnastics, running, boxing and others. By user, the Asia-Pacific athletic sportswear and footwear market is classified into men, women, and kids. Country wise, it is studied across China, Hong Kong, Taiwan, India, Indonesia, Thailand, Philippines, Vietnam, Malaysia, Singapore, South Korea, Japan, Australia, New Zealand, Rest of Asia-Pacific, South Africa, and UAE.
Based on the sports Asia-Pacific athletic sportswear and footwear market analysis, by product type, the running and walking shoes segment was the most prominent category in 2019 and is expected to remain dominant during the forecast period.
By Product Type
The running nd walking shoes segment dominates the Asia-Pacific athletic sportswear and footwear market and is expected to retain its dominance throughout the forecast period.
Based on the Asia-Pacific athletic sportswear and footwear market analysis, by sports, the running segment was the highest contributor to the market in 2019 and is expected to remain dominant throughout forecast period. However, yoga and gymnastics segment is expected to grow at a higher growth rate during the Asia-Pacific athletic sportswear and footwear market forecast period.
By Sports
The Running segment dominates the Asia-Pacific athletic sportswear and footwear market and is expected to retain its dominance throughout the forecast period.
Based on user, the men segment accounted for the highest Asia-Pacific athletic sportswear and footwear market share in 2019 and is expected to remain dominant throughout forecast period, however, kids segment is expected to witness a notable growth in terms of value sales during the forecast period.
By User
Men dominates the Asia-Pacific athletic sportswear and footwear market and is expected to retain its dominance throughout the forecast period.
Country wise, China accounted for the highest Asia-Pacific athletic sportswear and footwear market share in 2019 and is expected to remain dominant throughout forecast period, however, India is expected to witness a notable growth in terms of value sales during the forecast period.
The key players operating in the Asia-Pacific athletic sportswear and footwear market focus on prominent strategies to overcome competition and maintain as well as improve their share worldwide. Some of the major players in the Asia-Pacific athletic sportswear and footwear industry analyzed in this report include Adidas AG, Asics Corporation, Brooks Running Company, Fila Holding Corporation, Li Ning Company Limited, New Balance, Inc. Nike, Inc., Puma Se, Skechers USA, Inc, And Under Armour, Inc.
Covid-19 Impact Analysis
- Disruption in growth of the Asia-Pacific athletic sportswear and footwear market in 2020 is attributed to the COVID-19 outbreak.
- The duration of the virus outbreak remains a key factor in assessing the overall impact of the pandemic, however, the Asia-Pacific athletic sportswear and footwear is likely to stabilize after 2022.
- Due to Covid 19 pandemic many sports events were postponed or cancelled in Asia-Pacific region during the outbreak which hampered the growth of the athletic sportswear and footwear market.
- Sale of sportswear and footwear was hampered in Asia-Pacific and other parts of the world, as the outbreak has led to the closure of sports complexes, state sports activities, gyms, fitness studios, parks, and school & colleges.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the current Asia-Pacific athletic sportswear and footwear market trends, estimations, and dynamics of the Asia-Pacific athletic sportswear and footwear market for the period of 2021–2027 to identify the prevailing market opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing Asia-Pacific athletic sportswear and footwear market opportunities.
- Major countries in the Asia-Pacific region have been mapped according to their revenue contribution to the industry.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
- The report includes the analysis of the regional as well as Asia-Pacific market, key players, market segments, gender, and growth strategies.
Asia-Pacific Athletic Sportswear and Footwear Market Report Highlights
| Aspects | Details |
 By Product Type |
|
 By Sports |
|
 By user |
|
 By country |
|
 Key Market Players | ADIDAS AG (ADIDAS), NIKE, INC., UNDER ARMOUR, INC., LI NING COMPANY LIMITED, FILA HOLDING CORPORATION, BROOKS RUNNING COMPANY, SKECHERS USA, INC., PUMA SE, ASICS CORPORATION, NEW BALANCE, INC. |
Analyst Review
As per the CXOs of the leading companies, the Asia-Pacific athletic sportswear and footwear market has witnessed significant growth over the years, and is expected to grow at a steady pace during the forecast period. This is attributed to rise in number of fitness-conscious consumers and increase in trend of fashionable sports apparel.
The key market players operating in the athletic sportswear and footwear market have adopted key developmental strategies such as product launch to fuel the demand for athletic sportswear and footwear in Asia-Pacific. In addition, according to them, they have emphasized on continuous innovations in their products such as sport shoes and tracksuits to maintain a strong foothold in the market.
The CXOs further added that the adoption of IoT and advanced technologies in athletic sportswear and footwear products such as smart t-shirts and smart shoes is driving the growth of the market. This is attributed to the fact that IoT-embedded products offer advanced functions such as tracking, monitoring, and improving performance, thereby promoting their use among users.
The Asia-Pacific athletic sportswear and footwear market size is projected to reach $110.6 billion by 2027
Acquisition, product launch, business expansion and partnership are the key growth strategies adopted by the Asia-Pacific athletic sportswear and footwear market key players.
You can raise the query to our sales team, and they will get back to you with the sample for the Asia-Pacific athletic sportswear and footwear Market Report.
The Asia-Pacific athletic sportswear and footwear market size was valued at $89.6 billion in 2019.
China occupied maximum market share in the Asia-Pacific athletic sportswear and footwear market in 2019.
Statistical data of top market players in the market is analysed under company profile section of the report. Kindly raise an inquiry through chat box and our business executive will get in touch with you with all the details on the purchase options.
Presently fashionable athletic sportswear and footwear with vibrant colours is one of the increasing trend in the Asia-Pacific athletic sportswear and footwear market.
The company profiled in the report is selected on the basis of their revenue and product offering in the Asia-Pacific athletic sportswear and footwear market
Rise in fitness consciousness among consumers, Continuous innovation in sportswear & footwear and increasing participation of women in sports are the effecting factors in the market.
Loading Table Of Content...
