Asia: Athletic Footwear Market 2023

Athletic Footwear Market Size in Asia

In 2021, the Asian athletic footwear market decreased by -0.1% to $X, falling for the third year in a row after seven years of growth. In general, consumption, however, recorded a strong expansion. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Athletic Footwear Production in Asia

In value terms, athletic footwear production amounted to $X in 2021 estimated in export price. Overall, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 24%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Athletic Footwear Exports

Exports in Asia

In 2021, exports of athletic footwear in Asia rose rapidly to X pairs, surging by 10% compared with the previous year's figure. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -8.3% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 27% against the previous year. Over the period under review, the exports reached the maximum at X pairs in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, athletic footwear exports surged to $X in 2021. Overall, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 38%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

In 2021, Vietnam (X pairs) was the main exporter of athletic footwear, making up 70% of total exports. Indonesia (X pairs) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by China (6.1%). India (X pairs), Cambodia (X pairs), Bangladesh (X pairs) and Hong Kong SAR (X pairs) took a minor share of total exports.

Exports from Vietnam increased at an average annual rate of +12.5% from 2012 to 2021. At the same time, Cambodia (+59.1%), Bangladesh (+27.4%), Indonesia (+19.4%) and India (+8.6%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +59.1% from 2012-2021. By contrast, Hong Kong SAR (-3.2%) and China (-10.4%) illustrated a downward trend over the same period. While the share of Vietnam (+19 p.p.), Indonesia (+7.1 p.p.) and Cambodia (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-2.8 p.p.) and China (-28.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest athletic footwear supplier in Asia, comprising 63% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 21% share of total exports. It was followed by China, with a 7.2% share.

In Vietnam, athletic footwear exports increased at an average annual rate of +18.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+26.6% per year) and China (+1.0% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per pair, picking up by 6.9% against the previous year. Export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, athletic footwear export price increased by +37.9% against 2016 indices. The most prominent rate of growth was recorded in 2014 an increase of 27%. Over the period under review, the export prices reached the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Hong Kong SAR ($X per pair), while Bangladesh ($X per pair) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+12.7%), while the other leaders experienced more modest paces of growth.

Athletic Footwear Imports

Imports in Asia

In 2021, supplies from abroad of athletic footwear decreased by -5.7% to X pairs, falling for the second consecutive year after eight years of growth. Overall, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2016 when imports increased by 44%. Over the period under review, imports reached the peak figure at X pairs in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, athletic footwear imports rose slightly to $X in 2021. Over the period under review, imports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 34% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X pairs), followed by China (X pairs), India (X pairs), Hong Kong SAR (X pairs), Saudi Arabia (X pairs), Taiwan (Chinese) (X pairs), Thailand (X pairs) and Malaysia (X pairs) were the largest importers of athletic footwear, together mixing up 68% of total imports. The following importers - Singapore (X pairs), the Philippines (X pairs), South Korea (X pairs), Macao SAR (X pairs) and the United Arab Emirates (X pairs) - together made up 15% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of +47.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest athletic footwear importing markets in Asia were Japan ($X), China ($X) and Hong Kong SAR ($X), with a combined 45% share of total imports.

In terms of the main importing countries, China, with a CAGR of +49.7%, saw the highest growth rate of the value of imports, 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 stood at $X per pair in 2021, rising by 9.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.8%. The pace of growth appeared the most rapid in 2020 an increase of 16% against the previous year. Over the period under review, import prices attained the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per pair), while India ($X per pair) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+13.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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