Asia-Pacific Sports Apparel Market is Estimated to Garner $62.6 Billion, by 2020
Asia-Pacific Sports Apparel Market Report, published by Allied Market Research, forecasts that the Asia-Pacific market is expected to generate revenue of $62.6 billion by 2020, registering a CAGR of 8.1% during the forecast period 2015-2020. China is the highest revenue-generating region, accounting for 45.2% share of the Asia Pacific sports apparel market. The sale of sports apparel through online stores would grow rapidly, registering a CAGR of 14.5% during 2015 – 2020.
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Based on end users, the Asia Pacific sports apparel market is categorized into men, women, and kids. In 2014, the men segment dominated the Asia Pacific sports apparel market; followed by women segment, which constituted 41.3% market share, owing to growing participation of women in various sports and fitness activities. Furthermore, kids segment is anticipated to grow at a notable pace, registering a CAGR of 10.4% during the forecast period.
Based on the mode of sale, Asia Pacific sports apparel market is categorized into retail and online stores. In 2014, the retail segment dominated the market with 81.6% share. International brands have been launching new retail outlets in the untapped markets of the Asia Pacific region to expand their geographical presence and increase their customer base. The retail segment is further segmented into supermarkets, brand outlets, and discount stores. Online platforms have exhibited a robust growth across the Asia Pacific region, owing to the ease of accessibility and availability of a wide range of products at a competitive price. The online mode of sale segment would grow rapidly, registering a CAGR of 14.5% during the forecast period.
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Key Findings of Asia Pacific Sports Apparel Market:
• The Asia Pacific sports apparel market is expected to exhibit a notable growth during the forecast period (2015-2020)due to increasing disposable income and rising health concerns among individuals
• Women sports apparels segment is expected to witness a CAGR of 9.1% during the forecast period
• The retail medium was the most popular distribution channel in 2014. However, the adoption of online mode of distribution would increase during the forecast period, owing to the increasing use of internet and ease of accessibility to a wide range of products
• China was the highest revenue-generating region, accounting for 45.2% share of the overall market revenue in 2014
• India is anticipated to grow rapidly, registering a prominent CAGR of 13.5% during the forecast period
Expansion and partnership have been the key growth strategies adopted by players in the market to increase their market share and expand their customer base. Prominent companies, such as Nike, Inc., Columbia Sportswear, and Puma SE, have adopted various growth strategies to mark their footprint in the Asia Pacific sports apparels market. Columbia Sportswear entered in India in collaboration with Chogori India Retail limited (CIRL), to leverage the latent opportunities in India. The key companies profiled in the report include Adidas AG, Nike, Inc., LI-NING Company Limited, Puma SE, Inc., Umbro Ltd., Fila, Inc., Under Armour, Lululemon Athletica Incorporation, Anta Sports Products Limited, Inc. and Columbia Sportswear Company.
