2013-03-15 08:20:55 - Impending sporting events, rising health awareness and an escalating demand for leisure activities among Chinese consumers to led the future growth
New Delhi: 25/2/2013- China sportswear industry structure has changed overtime in terms of the business model and distribution platform. The sportswear market in China which includes footwear and apparel has expanded rapidly in the recent years. The growth of the overall GDP in the country, rising income levels and shifting consumption preferences of increasingly affluent consumers have stimulated the demand for sportswear in the country. A combination of government support and promotion of sporting programs for the public, China’s hosting of international sports events; increasing media exposure and rapid development of the economy have been the key drivers to sustain double digit growth for China’s sportswear market beyond 2008. It has been observed that China sportswear industry has reached a
certain level of maturity and has entered a phase of stabilized growth after a period of rapid expansion from 2008 to 2010, with a growth rate of nearly 25%. The market competition continued to intensify in 2011 as well, as both sports performance brands and casual brands strive to expand in the Chinese market.
The athletic apparel and footwear market in China underwent a prolonged downturn in the late 2011 and first half of 2012. Due to the changing fashion trends and intense industry rivalry resulting in oversupply of sports apparel and footwear, the market growth was adversely affected over the last year.
The athletic apparel market in China has grown at a CAGR of 29% from 2006-2012. Cross Training shoes have been the largest contributor to the athletic footwear market in China. This is because cross training footwear is worn for a wide variety of sports such as walking, running, tennis and basketball. Running is becoming one of the most popular sports in China, as evident by the increasing number of runners and participants in each of these international marathon events. Running and jogging footwear has been the second largest contributor to the China athletic footwear market
The market in China has certainly evolved into a highly competitive scenario where major players are strategizing to enter into several niche athletic footwear segments to keep their share intact. The recent past has already witnessed players like NIKE and Adidas which are developing products for specific purposes targeted to tap the particular segment. The athletic footwear market in China is tapped by several domestic and global players. In 2011, the majority of the market revenue was contributed by the top players such as NIKE, Adidas contributing a significant share to the overall athletic wear market in China.
According to the research report “China Athletic Apparel and Footwear Industry Outlook to 2017- Future Growth Led by Strong Positioning of Global Brands” by Ken Research, the China athletic apparel market would grow at a CAGR of 17.2% from 2013-2017, thus reaching USD 32 billion by 2017 due to escalating consumer interest in health and fitness activities leading to an increase in the number of sports and recreational facilities, fitness gyms in the country.
Aggressive promotion activities to clear excessive inventory by the leading players, restructuring of retail channels, transformation of China’s casual wear market and strong positioning of global brands in the domestic market and the impending sporting events to be held in the country is expected to drive the demand for athletic apparel and footwear in the domestic market of China in the coming few years.
The report provides detailed overview on the athletic apparel and footwear market in China and aids readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, athletic apparel and footwear manufacturing companies, suppliers and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
For more information on the industry research report please refer to the below mentioned link: