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Asia Pacific Footwear Market Projected To Garner Significant Revenues By 2031

Transparency Market Research delivers key insights on the Asia Pacific footwear market. In terms of revenue, the Asia Pacific footwear market is estimated to expand at a CAGR of 8.7% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the Asia Pacific footwear market.

Asia is the fastest-growing footwear market. The region has been projected to capture more than 50% of the global footwear market. This growth of the footwear market in Asia Pacific can be attributed to the overall growth of the eCommerce fashion industry over the past few years.

The region is undergoing a change with the growth of the eCommerce industry, wherein local brands are venturing into newer geographies by offering customized shopping experiences to their international customers. This strategy has been allowing them to remain competitive.

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Asia Pacific Footwear Market: Key Segments

Based on product type, the shoes & boots segment held the largest share in 2020. Sportswear shoes and boots are expected to register the highest growth rate during the forecast period. The industrial grade segment is expected to follow the office wear footwear segment, in terms of growth. Footwear products such as sneakers and shoes are expected to be the major factor behind the growth of the overall footwear market during the forecast period.

In terms of material, the industry has been inclining toward sustainable raw materials such as vegan leathers or recyclable fabric that would have a lesser impact on the environment. In terms of the consumer groups, the market is anticipated to be dominated by the female consumer group. This is predominantly, owing to the burgeoning working women’s population across the region

In terms of distribution channels, the market is classified into online and offline. The offline channel was the largest segment of the footwear market in 2020. The online segment is expected to expand rapidly during the forecast period due to strong distribution networks.

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Asia Pacific Footwear Market: Prominent Regions

The market for footwear in Asia Pacific has been segmented into China, India, Japan, and Rest of Asia Pacific. The market for footwear in Asia Pacific is growing together with advancements in the field of shoe manufacturing in Vietnam, Indonesia, and Bangladesh. The market for footwear in India and China is expanding on account of the adoption of the latest fashion trends in these countries.

Several regional and local vendors have heavily invested in the Asia Pacific footwear market.  As compared to other regions, the footwear market in Asia Pacific is expected to witness a relatively slower growth rate during the forecast period.

Asia Pacific Footwear Market: Key Players

Key players operating in the Asia Pacific footwear market are Adidas AG, ASICS, Bata Brands, Belle International Holdings Limited, GEOX S.p.A, Nike Inc., UMA, VF Corporation, Wolverine Worldwide, Inc., Woodland, etc.

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Asia Pacific Footwear Market: Segmentation

Asia Pacific Footwear Market, by Product Type

  • Shoes & Boots
    • Casual Wear
    • Sports Wear
    • Office Wear
    • Industrial Grade
  • Flip Flops & Slippers
  • Sandals
  • Others (Ballet Flats, etc.)

Asia Pacific Footwear Market, by Material

  • Leather
  • Non-leather
    • Rubber
    • Gore-Tex
    • Polyester
    • Others (Textiles, etc.)

Asia Pacific Footwear Market, by Consumer Group

  • Male
  • Female

Asia Pacific Footwear Market, by Pricing

  • Mass
  • Premium

Asia Pacific Footwear Market, by Distribution Channel

  • Online
    • Company Owned Websites
    • E-commerce Websites
  • Offline
    • Hypermarket/Mega Markets
    • Multi-brand Stores
    • Flagship Stores

Asia Pacific Footwear Market, by Country

  • China
  • India
  • Japan
  • Rest of Asia Pacific

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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