According to IMARC Group’s latest report, titled "Asia Pacific Footwear Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.' the Asia Pacific footwear market size reached US$ 131.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 196 Billion by 2027, exhibiting a growth rate (CAGR) of 7.4% during 2022-2027.

Footwear is manufactured by utilizing various materials, such as canvas, wood, jute, leather, rubber, plastic, etc., to offer comfort and protection to the feet. The style and quality of the product have evolved over the years with the changing fashion aesthetics and trends. Consumers prefer purchasing footwear with innovative technical fabrications, which deliver maximum comfort while adhering to the ongoing style trend. The steadily increasing demand for superior quality products has resulted in several advancements that provide optimum support to the feet and highlight unique designs. As a result, footwear is widely available across clothing stores, supermarkets, online channels, specialty stores, hypermarkets, etc.

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Asia Pacific Footwear Market Trends:

The rising urbanization and industrialization in countries, including China, Indonesia, and India, and the escalating demand for formal, casual, athletic, and fashion shoes are among the primary factors driving the Asia Pacific footwear market. Besides this, the increasing establishment of popular luxury brands, which emphasize the development of unique designs while also giving importance to comfort, is further augmenting the market growth. Moreover, the growing popularity of athletic and sports footwear among individuals becoming more inclined toward athletic and physical activities, such as gym, yoga, and jogging, is also catalyzing the market across the Asia Pacific. Apart from this, the emerging trend of e-commerce platforms, such as Amazon and Alibaba, that provide consumers with several product variants to choose from, is expected to bolster the Asia Pacific footwear market in the coming years.

Asia Pacific Footwear Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the Asia Pacific footwear market has been studied in the report with the detailed profiles of the key players operating in the market.

Key Market Segmentation:

The report has segmented the Asia Pacific footwear market on the basis of product, material, distribution channel, pricing, end user and country.

Breakup by Product:

• Non-Athletic Footwear
• Athletic Footwear

Breakup by Material:

• Rubber
• Leather
• Plastic
• Fabric
• Others

Breakup by Distribution Channel:

• Footwear Specialists
• Online Sales
• Supermarkets and Hypermarkets
• Departmental Stores
• Clothing Stores
• Others

Breakup by Pricing:

• Premium
• Mass

Breakup by End User:

• Men
• Women
• Kids

Breakup by Country:

• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others

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Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Industry Trends
• Market Drivers and Success Factors
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

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