Footwear market in APAC size is set to grow by USD 55.92 billion from 2021-2026; The growing demand for athletic footwear boosts the market- Technavio

Footwear market in APAC size is set to grow by USD 55.92 billion from 2021-2026; The growing demand for athletic footwear boosts the market- Technavio

NEW YORK, March 28, 2023 /PRNewswire/ — The footwear market size in APAC is estimated to grow by USD 55.92 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 8.36% during the forecast period. The market is driven by the growing demand for athletic footwear. Growing consumer awareness on the advantages of sports and fitness activities and the rise in international sporting events are expected to increase the demand for athletic shoes in the region. During the forecast period, this is expected to increase the demand for athletic shoes in the region. Furthermore, the rising enthusiasm for taking part in a variety of sporting events, such as the Asian Games, the ICC Cricket World Cup, and the ACC Asian Cup is also driving the market growth. Additionally, rising disposable income enables Indians to move up the value chain and require goods for various purposes, which promotes the emergence of new footwear product categories in terms of value, functionality, and aesthetic appeal. Hence, such factors will drive regional market growth during the forecast period. For more insights on the market – Request a sample report

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Footwear market in APAC – Market Dynamics

Leading trends influencing the market 

  • In APAC, increasing internet penetration is an emerging trend in market growth. 
  • In the region, the average spending per online transaction and the volume of online transactions are rising.
  • The market is expanding as a result of the rising number of smartphone and internet users as well as their buy-now attitude.
  • Customers are encouraged to shop online due to the convenience and time-saving features of online shopping as well as access to a wide selection of products.
  • Online payments’ enhanced security features, free shipping, improved online customer service, and more convenient purchasing sites will also foster the market’s expansion during the forecast period.

Major challenges hindering the market growth

  • An increase in labor cost is the major challenge impeding market growth in APAC. 
  • Numerous companies with factories in Asia, including Indonesia, China, Bangladesh, Vietnam, and India, offer shoes in the regional market.
  • These countries’ recent increases in labor costs are a result of their rapid economic growth. Expensive labor force increases the overall production costs of the product and reduces vendor profit margins.
  • Due to substantial wage increases in China and Indonesia, many businesses have been compelled to relocate their production facilities from these countries. As a consequence, such companies have experienced losses. 
  • Such factors will hinder the regional footwear market growth during the forecast period. 

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Footwear market in APAC – Vendor Analysis

Vendor Landscape – The footwear market in APAC is characterized by the presence of various vendors such as adidas AG, Alpinestars USA Inc., ASICS Corp., Bata India Ltd., Belle International Holdings Ltd., Daphne International Holdings Ltd., GEOX Spa, Industria de Diseno Textil SA, LVMH Moet Hennessy Louis Vuitton SE, Metro Brands Ltd., Nike Inc., Paragon Polymer Products Pvt. Ltd., PUMA SE, PVH Corp., Sara Suole Pvt. Ltd., VF Corp., Wolverine World Wide Inc., Woodland Worldwide, VKC Pride, and Reliance Industries Ltd.

Footwear market in APAC – Segmentation Assessment
Segment Overview

Technavio has segmented the market based on distribution channel (offline and online). 

  • The APAC Footwear Market share growth in the offline segment will be significant during the forecast periodSpecialty stores (including brand stores, multi-brand stores, clothing stores, fashion and personal accessory stores, and sporting goods stores), hypermarkets, supermarkets, convenience stores, clubhouses, and department stores are the sources of revenue for offline sales channels.

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What are the key data covered in this Footwear market in APAC report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the footwear market in APAC between 2021 and 2026
  • Precise estimation of the size of the footwear market in APAC size and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of footwear market in APAC vendors

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Footwear Market In APAC Scope

Report Coverage

Details

Base year

2021

Historic period

2017-2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 8.36%

Market growth 2022-2026

USD 55.92 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.92

Regional analysis

APAC

Key countries

China, Japan, India, South Korea, and Rest of APAC, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

adidas AG, Alpinestars USA Inc., ASICS Corp., Bata India Ltd., Belle International Holdings Ltd., Daphne International Holdings Ltd., GEOX Spa, Industria de Diseno Textil SA, LVMH Moet Hennessy Louis Vuitton SE, Metro Brands Ltd., Nike Inc., Paragon Polymer Products Pvt. Ltd., PUMA SE, PVH Corp., Sara Suole Pvt. Ltd., VF Corp., Wolverine World Wide Inc., Woodland Worldwide, VKC Pride, and Reliance Industries Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026 
    • Exhibit 13: Chart on APAC – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 14: Data Table on Regional – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 15: Chart on APAC: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Regional – Market size and forecast 2021-2026 ($ billion)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers 
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers 
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants 
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes 
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Distribution Channel

  • 5.1 Market segments
    • Exhibit 24: Chart on Distribution Channel – Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Distribution Channel – Market share 2021-2026 (%)
  • 5.2 Comparison by Distribution Channel 
    • Exhibit 26: Chart on Comparison by Distribution Channel
    • Exhibit 27: Data Table on Comparison by Distribution Channel
  • 5.3 Offline – Market size and forecast 2021-2026 
    • Exhibit 28: Chart on Offline – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 29: Data Table on Offline – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 30: Chart on Offline – Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Offline – Year-over-year growth 2021-2026 (%)
  • 5.4 Online – Market size and forecast 2021-2026 
    • Exhibit 32: Chart on Online – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 33: Data Table on Online – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 34: Chart on Online – Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Online – Year-over-year growth 2021-2026 (%)
  • 5.5 Market opportunity by Distribution Channel 
    • Exhibit 36: Market opportunity by Distribution Channel ($ billion)

6 Customer Landscape

  • 6.1 Customer landscape overview 
    • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation 
    • Exhibit 38: Chart on Market share by geography – 2021-2026 (%)
    • Exhibit 39: Data Table on Market share by geography – 2021-2026 (%)
  • 7.2 Geographic comparison 
    • Exhibit 40: Chart on Geographic comparison
    • Exhibit 41: Data Table on Geographic comparison
  • 7.3 China – Market size and forecast 2021-2026 
    • Exhibit 42: Chart on China – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 43: Data Table on China – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 44: Chart on China – Year-over-year growth 2021-2026 (%)
    • Exhibit 45: Data Table on China – Year-over-year growth 2021-2026 (%)
  • 7.4 Japan – Market size and forecast 2021-2026 
    • Exhibit 46: Chart on Japan – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 47: Data Table on Japan – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 48: Chart on Japan – Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on Japan – Year-over-year growth 2021-2026 (%)
  • 7.5 India – Market size and forecast 2021-2026 
    • Exhibit 50: Chart on India – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 51: Data Table on India – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 52: Chart on India – Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on India – Year-over-year growth 2021-2026 (%)
  • 7.6 South Korea – Market size and forecast 2021-2026 
    • Exhibit 54: Chart on South Korea – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 55: Data Table on South Korea – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 56: Chart on South Korea – Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on South Korea – Year-over-year growth 2021-2026 (%)
  • 7.7 Rest of APAC – Market size and forecast 2021-2026 
    • Exhibit 58: Chart on Rest of APAC – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 59: Data Table on Rest of APAC – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 60: Chart on Rest of APAC – Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Rest of APAC – Year-over-year growth 2021-2026 (%)
  • 7.8 Market opportunity by geography 
    • Exhibit 62: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges 
    • Exhibit 63: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 64: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 65: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 66: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 67: Vendors covered
  • 10.2 Market positioning of vendors 
    • Exhibit 68: Matrix on vendor position and classification
  • 10.3 adidas AG
    • Exhibit 69: adidas AG – Overview
    • Exhibit 70: adidas AG – Business segments
    • Exhibit 71: adidas AG – Key news
    • Exhibit 72: adidas AG – Key offerings
    • Exhibit 73: adidas AG – Segment focus
  • 10.4 ASICS Corp.
    • Exhibit 74: ASICS Corp. – Overview
    • Exhibit 75: ASICS Corp. – Business segments
    • Exhibit 76: ASICS Corp. – Key news
    • Exhibit 77: ASICS Corp. – Key offerings
    • Exhibit 78: ASICS Corp. – Segment focus
  • 10.5 Bata India Ltd.
    • Exhibit 79: Bata India Ltd. – Overview
    • Exhibit 80: Bata India Ltd. – Product / Service
    • Exhibit 81: Bata India Ltd. – Key offerings
  • 10.6 Belle International Holdings Ltd. 
    • Exhibit 82: Belle International Holdings Ltd. – Overview
    • Exhibit 83: Belle International Holdings Ltd. – Product / Service
    • Exhibit 84: Belle International Holdings Ltd. – Key offerings
  • 10.7 GEOX Spa
    • Exhibit 85: GEOX Spa – Overview
    • Exhibit 86: GEOX Spa – Business segments
    • Exhibit 87: GEOX Spa – Key offerings
    • Exhibit 88: GEOX Spa – Segment focus
  • 10.8 Nike Inc.
    • Exhibit 89: Nike Inc. – Overview
    • Exhibit 90: Nike Inc. – Business segments
    • Exhibit 91: Nike Inc. – Key news
    • Exhibit 92: Nike Inc. – Key offerings
    • Exhibit 93: Nike Inc. – Segment focus
  • 10.9 PUMA SE
    • Exhibit 94: PUMA SE – Overview
    • Exhibit 95: PUMA SE – Business segments
    • Exhibit 96: PUMA SE – Key news
    • Exhibit 97: PUMA SE – Key offerings
    • Exhibit 98: PUMA SE – Segment focus
  • 10.10 VF Corp.
    • Exhibit 99: VF Corp. – Overview
    • Exhibit 100: VF Corp. – Business segments
    • Exhibit 101: VF Corp. – Key news
    • Exhibit 102: VF Corp. – Key offerings
    • Exhibit 103: VF Corp. – Segment focus
  • 10.11 Wolverine World Wide Inc. 
    • Exhibit 104: Wolverine World Wide Inc. – Overview
    • Exhibit 105: Wolverine World Wide Inc. – Business segments
    • Exhibit 106: Wolverine World Wide Inc. – Key offerings
    • Exhibit 107: Wolverine World Wide Inc. – Segment focus
  • 10.12 Woodland Worldwide
    • Exhibit 108: Woodland Worldwide – Overview
    • Exhibit 109: Woodland Worldwide – Product / Service
    • Exhibit 110: Woodland Worldwide – Key offerings

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist 
    • Exhibit 111: Inclusions checklist
    • Exhibit 112: Exclusions checklist
  • 11.3 Currency conversion rates for US$ 
    • Exhibit 113: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 114: Research methodology
    • Exhibit 115: Validation techniques employed for market sizing
    • Exhibit 116: Information sources
  • 11.5 List of abbreviations 
    • Exhibit 117: List of abbreviations

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Originally published at https://www.prnewswire.com/news-releases/footwear-market-in-apac-size-is-set-to-grow-by-usd-55-92-billion-from-2021-2026-the-growing-demand-for-athletic-footwear-boosts-the-market–technavio-301781109.html
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