Footware in Asia Pacific

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.

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.

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 13.0 in 2016. More footwear brands and retailers are focused on expanding their product portfolios in children’s footwear, and opening childrenswear 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% CAGR over 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. Vietnam: Country Snapshot