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Explore the latest trends and actionable insights on the APAC Apparel market to inform business strategy and pinpoint opportunities and risks

Market Size of Retail Footwear in Asia-Pacific (2017–2021, $ Billion)

Industry: Clothing, Footwear and Accessories Specialists
Current: Market Sizing & Shares

In 2021, market value of the footwear segment in Asia-Pacific reached $100 billion
The footwear segment in Aisa-Pacific grew at a CAGR of 2.4% during 2017–2021
China, Japan, India, South Korea and Australia are the top markets in Asia-Pacific

The footwear segment is one of the most popular product categories in the retail industry. The footwear segment offers a variety of products according to demographic patterns, including men’s, women’s, and children’s shoes. Asia-Pacific is among the regions that influence the global fashion industry.

The footwear segment in Asia-Pacific reached $100 billion in 2021, its highest level in the last five years, increasing 20% over that in the previous year. The segment grew owing to the growth in the retail product categories, following the recovery in demand in the post-COVID-19 pandemic period globally. Sales in brick and mortar stores and online stores increased as they resumed operations after being under restrictions for almost two years. Consumers also began spending more on lifestyle products. Thus, the footwear segment is expected to register growth due to the recovery from the pandemic.

The footwear segment in the region grew at a CAGR of 2.4% during 2017–2021.

The retail footwear grew significantly in spite of multiple outbreaks of the pandemic and the world coming to a standstill for almost two years. The growth was the result of the increasing adult population in countries such as India opting for fashionable products, and greater health consciousness and increasing per capita income in most countries of the region resulting in higher sales in the athletic footwear segment. Although there is stiff competition from online stores, retail continues to hold its ground. China, Japan, India, South Korea and Australia are the top markets in the region. The footwear segment accounts for 13% of the retail market size for the clothing and footwear segment in Asia-Pacific.

The major footwear companies that have a strong presence in Asia-Pacific include Nike and Adidas. The region also has a number of popular brands such as Bata, Chanel, AoKang and Gucci, which are specific to certain countries.

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