Asia-Pacific Athletic Sportswear and Footwear Market Analysis, Segments, Growth and Value Chain 2021
Author : Akash Vidhate | Published On : 06 Oct 2021
Allied Market Research published a new report, titled, “Asia-Pacific Athletic Sportswear and Footwear Market” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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 worn during workout sessions or while performing sporting and recreational activities. Initially, sports apparels were mostly worn by athletes but, with time, they have become common with regular gym-goers and other non-athletes, which acts as a key growth driver of the overall market. In addition, the expansion of distribution channels such as online stores, specialty stores, supermarkets, and hypermarkets, in Asia-Pacific has made these athletic sportswear and footwear easily accessible to users, which, in turn, contributes toward the market growth.
Furthermore, presently fashionable athletic sportswear and footwear with vibrant colors is one of the increasing Asia-Pacific athletic sportswear and footwear market trends among the users. In addition to this, the rising interest of consumers in sports and recreational activities is expected to offer immense Asia-Pacific athletic sports sportswear and footwear market opportunity during the forecast period.
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The Asia-Pacific athletic sportswear and footwear market segments are categorized into product type, sports, and users. 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, and others. By sports, it is divided into football, cricket, basketball, tennis, adventure sports, cycling, yoga and gymnastics, running, boxing and others. By users, the Asia-Pacific athletic sportswear and footwear market is classified into men, women, and kids.
Country wise, China was the highest contributor to the market in 2019, and is expected to remain dominant through 2021–2027. However, India is expected to witness a notable growth in terms of value sales during the forecast period.
Key Market Segments
• By Product type
• By Sports
• By User
• By Country
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.
Key findings of the study
? By product type, the running and walking shoes segment accounted for the highest market share in 2019, growing at a CAGR of 3.8% from 2021 to 2027.
? By sports, the running segment accounted for the highest market share in 2019, growing at a CAGR of 4.4% from 2021 to 2027.
? By users, the men segment accounted for the highest market share in 2019, growing at a CAGR of 3.6% from 2021 to 2027.
? Country wise, China occupied maximum share in the Asia-Pacific athletic sportswear and footwear market in 2019 and is expected to dominate the market during the forecast period.
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Source: Allied Market Research