Asia-Pacific Athletic Footwear Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Athletic Footwear Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific Athletic Footwear market is projected to register a CAGR of 7.1% during the forecast period, 2022-2027.

The rising demand for comfortable and lightweight athletic shoes due to the increased adoption of fitness activities such as running, walking, and aerobics is driving sales growth in the Asia Pacific market. Additionally, young generation consumers are increasingly preferring athletic shoes in vivid colors and stylish designs to enhance their athleisure look. Further, ongoing inclination toward fitness programs such as gym workouts, online training, aerobics, yoga, etc. to overcome work-related stress and lifestyle disorders in nations like India, China, and Japan is influencing the demand for athletic footwear in the Asia Pacific region. The rising popularity of trendy sportswear and the growing consumer interest in sports and leisure activities is anticipated to create significant growth opportunities for the Asia-Pacific athletic footwear market over the forecast period.

The Covid-19 pandemic had a significant impact on the market, as disruption in the raw material supply and the slowdown of demand due to the restriction on hiking, sports activities, and leisure travel affected the industry's performance. The cancellation of several national and international sports tournaments along with the closure of local sports clubs caused the market downturn during the pandemic.

Key Market TrendsRising Sports Participation Rate with Inclination Toward Healthy Lifestyle

The increasing importance of active lifestyles is driving the participation in leisure activities like jogging and cycling in the recent past. The relevance of sports activities, particularly for health reasons along with the growing influence of celebrity endorsement, and international sporting events are all driving consumers to participate in a variety of sports. In addition, the surge in government efforts in various nations aimed at increasing sports participation has driven the market in recent years. For instance, in May 2021, the Government of Australia announced the investment of AUD 245.8 million in sports to accelerate sport participation among children and women. The changing paradigm of the educational system supports the growth of the sports industry and industries dependent on it. Furthermore, a surge in sports education and sports training in academics has improved public awareness about sports and fitness. The market is being driven by the numerous educational institutions and schools that give students training and opportunities to participate in a variety of sporting events.

Elegant and comfortable athletic footwear, appropriate for daily fitness routines is becoming more popular as a result of the rise in popularity of sports and fitness activities like aerobics, swimming, jogging, cycling, and yoga.

China is the Fastest Growing Market

The athletic footwear market in China is predicted to increase at the fastest rate during the forecast period. The steady expansion of the athletic footwear market in China is being driven by the rising level of health consciousness among the country's emerging middle-class population and expanding athletic landscape. The industry is dominated by well-known brands like Nike and Adidas, but domestic companies like Anta and Li Ning have experienced sharp growth in popularity over the past several years. As more domestic brands are entering the market with cheaper alternatives, supporting the price-sensitive nature of the Chinese consumer purchase pattern, there is a growing appreciation of domestic brands, which is supported by a renewed sense of national pride among younger consumers. Additionally, international companies and brands have been attracting more Chinese customers to their line of sports shoes by utilizing various localized branding methods adapted to the Chinese geography. For instance, Nike's consumers have the option to follow the company to receive daily news and updates about Nike via WeChat, a messaging app. Nike seeks to strengthen their relationship with customers through Wechat by switching from broadcasting to chatting, from "one to many" to "one to one."

Competitive Landscape

The Asia-Pacific athletic footwear market is consolidated as the major players dominating the market such as Adidas AG, Under Armour Inc, Asics Corporation, Nike Inc, and Puma SE. Modern production techniques are being used by the top athletic footwear producers to boost production effectiveness and improve product offerings. Companies are competing on a range of factors including product offerings, price, material quality, and marketing initiatives to achieve a competitive edge in the market. Further, key brands are expanding their distribution capabilities to meet rising consumer demand. For Instance, in August 2022, Adidas announced the opening of its largest offline retail store in India which spreads across 3,140 square feet. The store features Adidas Originals’ apparel, footwear, and other accessories lines.

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