The Asia Pacific Footwear market was pegged at USD 55800.0 million in 2013 and is anticipated to reach USD 64257.3 million by 2020, growing at a CAGR of 2.0% from 2014 to 2020.
Albany, NY -- (SBWIRE) -- 01/05/2016 -- 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.
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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.
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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.
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