Footwear Market - Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020 : Transparency Market Research

According to a new market report published by Transparency Market Research “Footwear Market - Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” Asia Pacific Footwear market was valued at USD 55,800.0 million in 2013 and is anticipated to reach USD 64,257.3 million by 2020, growing at a CAGR of 2.0% during the forecast period. Footwear includes non-athletic and athletic footwear. Non-athletic footwear can be defined as different kinds of footwear which can be classified into fashion footwear, dress formal and casual footwear. Athletic footwear includes all kinds of footwear designed for physical exercises or for sports purpose. Athletic footwear includes sports (Cross Training), insert shoes, backpacking boots for children, men and women, and hiking shoes.

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Asia Pacific footwear market is anticipated to go through several changes such as new style fashion and variations in different footwear types. Consumers mainly desire non-athletic footwear due to increasing disposable income of consumers. Moreover, increasing varieties of products, rising population, and changing lifestyle are the drivers contributing to the growth of the footwear market in Asia Pacific. Non-athletic footwear is estimated to have a stable growth rate during the forecast period as it is the most commonly used footwear among users. In addition, increasing purchasing power of population and growing fashion consciousness towards footwear products are anticipated to increase the demand for footwear in the major countries of Asia Pacific including China, India, Japan, Australia, Singapore, Malaysia, and Thailand among others in the forecast period.

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Among different categories of footwear, non-athletic...