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Footwear in Asia Pacific

June 2018

Asia Pacific is one of the largest and most dynamic regions for footwear sales in the world. Between 2012 and 2017, consumer spending grew solidly supported by strong economic growth and greater disposable income. Footwear sales growth was further supported by the popularity of sports footwear: with the growing awareness of healthy lifestyles and the influence of Western culture, consumers are increasingly drawn to athleisure products that reflect a growing sports-driven consumer base.

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Asia Pacific holds the largest footwear market

Asia Pacific boasts the largest footwear market in the world, accounting for 31% of global footwear sales in 2017. The region has been at the forefront of growth, as sales increased by a CAGR of 4% over 2012-2017.

Sports footwear drives growth in the region

Sports footwear has fuelled growth, with a CAGR of 8% over 2012-2017. With the growing awareness of healthy lifestyles and the influence of Western culture, along with the growing popularity of athleisure, performance and sports-inspired footwear has been in a great demand in Asia Pacific.

Children’s footwear sees fastest growth in China

The top market, China, saw robust growth in children’s footwear, driven by the relaxation of the 1-child policy in 2013, replaced with the 2-child policy in 2016.The birth rate increased from 12.1 per ‘000 population to 12.4 in 2013, and to 13.0in 2016. More footwear brands and retailers are focused on expanding their product portfolios in children’s footwear and opening children's wear specialist stores to capitalise on growing demand for children’s footwear.

Footwear remains highly fragmented

The footwear market in Asia Pacific remains highly fragmented. Indonesia and Vietnam held the large shares accounted for by small local manufacturers, while Japan, South Korea and Taiwan observed the strong presence of leading brands such as Nike and adidas.

Footwear expected to see steady growth in Asia Pacific

Asia Pacific is expected to see healthy footwear sales growth, with a 5% CAG Rover 2017-2022, remaining the leading region for footwear. Disposable incomes in Asia Pacific are projected to rise strongly, spurring growth in the middle class. Also, the growing health and wellness trend, as well as hosting two Olympic games in the region, will further promote sports activities and boost demand.

Introduction

Scope
Key findings

Regional Overview

Asia Pacific in global context
Asia Pacific continues to drive global footwear growth
China dominates the region’s footwear sales
Women’s footwear takes the lead
Majority of markets see positive performance
Smaller markets contribute to the growth of regional sales
Specialist retailers continues to lead…
…while only internet and sports goods stores cater to consumer demand

Leading Companies and Brands

Footwear remains very fragmented
Nike and adidas record strong performance
Performance is reliant on China
Constant movement in top 10 ranking

Forecast Projections

China remains a key driver of footwear sales in Asia Pacific
Asia Pacific will remain as leading region in footwear

Country Snapshots

China: market context
China: competitive and retail landscape
Japan: market context
Japan: competitive and retail landscape
South Korea: market context
South Korea: competitive and retail landscape
India: market context
India: competitive and retail landscape
Hong Kong, China: market context
Hong Kong, China: competitive and retail landscape
Taiwan: market context
Taiwan: competitive and retail landscape
Malaysia: market context
Malaysia: competitive and retail landscape
Thailand: market context
Thailand: competitive and retail landscape
Philippines: market context
Philippines: competitive and retail landscape
Indonesia: market context
Indonesia: competitive and retail landscape
Singapore: market context
Singapore: competitive and retail landscape
Vietnam: market context
Vietnam: competitive and retail landscape
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