Asia-Pacific: Sportswear Market 2024

Sportswear Market Size in Asia-Pacific

The Asia-Pacific sportswear market dropped to $X in 2022, which is down by X% against the previous year. In general, consumption continues to indicate a perceptible reduction. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Sportswear Production in Asia-Pacific

In value terms, sportswear production fell slightly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Sportswear Exports

Exports in Asia-Pacific

In 2022, exports of track suits, ski suits and swimwear in Asia-Pacific skyrocketed to X units, growing by X% on 2021. Total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, sportswear exports rose notably to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China prevails in exports structure, reaching X units, which was near X% of total exports in 2022. It was distantly followed by Vietnam (X units) and Bangladesh (X units), together achieving a X% share of total exports. The following exporters - Cambodia (X units), Sri Lanka (X units), Indonesia (X units) and Hong Kong SAR (X units) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to sportswear exports from China stood at X%. At the same time, Bangladesh (X%), Vietnam (X%), Sri Lanka (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Cambodia (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.), Bangladesh (X p.p.), China (X p.p.) and Sri Lanka (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cambodia (X p.p.) and Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest sportswear supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Bangladesh, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Bangladesh (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, declining by X% against the previous year. Export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sportswear export price increased by X% against 2019 indices. The growth pace was the most rapid in 2015 an increase of X%. Over the period under review, the export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (X%), while the other leaders experienced more modest paces of growth.

Sportswear Imports

Imports in Asia-Pacific

In 2022, the amount of track suits, ski suits and swimwear imported in Asia-Pacific shrank to X units, waning by X% compared with the previous year's figure. Overall, imports saw a abrupt decrease. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, sportswear imports amounted to $X in 2022. In general, imports continue to indicate a pronounced shrinkage. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Australia (X units), distantly followed by Hong Kong SAR (X units), Japan (X units), South Korea (X units), China (X units) and India (X units) represented the key importers of track suits, ski suits and swimwear, together achieving X% of total imports. Thailand (X units) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sportswear importing markets in Asia-Pacific were Australia ($X), Hong Kong SAR ($X) and Japan ($X), with a combined X% share of total imports. South Korea, China, India and Thailand lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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