A rise in demand for fashionable yet comfortable footwear coupled with increasing demand for athletic footwear, is boosting the growth of footwear market in Asia Pacific. At present, non-athletic footwear segment acquires the larger market share, constituting nearly 3/5th of the overall market revenue.
Portland, OR -- (SBWIRE) -- 09/29/2017 -- Asia Pacific Footwear Market is expected to reach $152.9 billion by 2020, registering a CAGR of 4.7% during 2015 - 2020, according to a new report published by Allied Market research. China is the leading regional footwear market, followed by India.
Asia Pacific Footwear industry has witnessed a robust growth in the last few years. There has been a growing demand for both sports as well as fashionable footwear, driven by the factors of increasing health consciousness, creative designs and increasing disposable income.
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Based on the end -users, the market is segmented into men, women and children. Women by far are the largest consumers of footwear in the region. The segment is expected to maintain its dominance throughout the forecast period. Market players in this industry are expanding their distribution channels through online platforms and retail stores. Currently, retail store is a popular sales channel, however online segment is expected to witness faster growth during the forecast period.
Key Findings of Asia Pacific Footwear Market:
- China led the market by generating highest revenue in 2014, and would lead the market during 2015-2020
- By type, non-athletic segment was the leading segment in the Asia Pacific footwear market in 2014, and is expected to maintain its dominant position throughout the forecast period
- By end user, children segment is expected to witness the fastest growth during 2015 - 2020
Key Players
* Nike Inc.
* Adidas AG
* PUMA SE
* VF Corporation
* Wolverine Worldwide, Inc.
* ASICS Corporation
* GEOX S.p.A
* Belle International Holdings Limited
* Bata Brands
* Woodland Worldwide
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