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 byUSD 55.92 billionfrom 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
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.
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 period. Specialty 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.
The online footwear market is estimated to grow at a CAGR of 8.89% between 2022 and 2027. The size of the market is forecast to increase by USD 34.03 billion. This report extensively covers market segmentation by product (non-athletic footwear and athletic footwear), end-user (men, women, and children), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
Thehigh heels footwear market is estimated to grow at a CAGR of 1.88% between 2022 and 2027. This report extensively covers market segmentation by distribution channel (offline and online), type (1-1.75, 2-2.75, 3-3.75, and 4-4.75), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
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
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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