Sportswear in Asia Pacific is prospected to see promising growth, fuelled by China’s robust growth. Health awareness and rise of international and local brands open more opportunity to the sportswear industry. Brands are carrying out localised marketing and promotion, shifting consumers from unbranded sportswear to branded sportswear. Non-store retailing is growing at a fast pace in countries with high smartphone possession rates.
Sportswear is growing strongly as working out is becoming the norm among many consumers in Asia Pacific. Euromonitor’s Health and Nutrition Survey shows that 58% of Asia Pacific consumers responded that they exercise at least once a week. Other factors also contribute such as demand for sportswear to be worn as daily wear, brands adapting the retro trend and localised strategies gaining positive response from consumers.
China is important in sportswear in both market size and potential growth terms. Sports-inspired footwear accounts for the largest portion of sportswear, led by international brands such as adidas and also local brands such as Anta and Li Ning.
While sports-inspired and performance footwear leads sportswear, there are opportunities in segmented categories. Footwear helping children walk better and outdoor apparel targeted at the fishing population are some of examples that are tapping into new opportunities. More players are working their way into less competitive, niche segments.
adidas and Nike continue to lead sportswear in Asia Pacific. Successful marketing activities, limited edition launches and adding a touch of local taste are highly welcomed by consumers, with competition from local brands increasingly strong.
Asia Pacific is expected to record the most growth in the world during the next five years, although North America will continue to lead sportswear in size terms. Local brands will continue to tap into opportunities by applying local tastes and styles. Non-store retailing will continue to be prominent in major markets and sports goods stores will remain relevant with in-store experience offerings.
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