Eastern Asia: Athletic Footwear Market 2024

Athletic Footwear Market Size in Eastern Asia

In 2022, the East Asian athletic footwear market decreased by -17.8% to $X, falling for the third year in a row after eight years of growth. Over the period under review, consumption, however, saw a prominent expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Athletic Footwear Production in Eastern Asia

In value terms, athletic footwear production declined slightly to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.4% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 34% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Athletic Footwear Exports

Exports in Eastern Asia

In 2022, overseas shipments of athletic footwear increased by 106% to X pairs, rising for the second consecutive year after four years of decline. In general, exports showed a noticeable expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, athletic footwear exports soared to $X in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +94.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 40% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

In 2022, China (X pairs) represented the main exporter of athletic footwear, generating 86% of total exports. It was distantly followed by Hong Kong SAR (X pairs), making up a 13% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to athletic footwear exports from China stood at +2.0%. At the same time, Hong Kong SAR (+4.1%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +4.1% from 2012-2022. Hong Kong SAR (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -2.1% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest athletic footwear supplier in Eastern Asia, comprising 66% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 32% share of total exports.

In China, athletic footwear exports increased at an average annual rate of +4.5% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per pair in 2022, shrinking by -32.5% against the previous year. Overall, the export price, however, showed moderate growth. The most prominent rate of growth was recorded in 2018 an increase of 54% against the previous year. Over the period under review, the export prices attained the peak figure at $X per pair in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per pair), while China amounted to $X per pair.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.6%).

Athletic Footwear Imports

Imports in Eastern Asia

In 2022, purchases abroad of athletic footwear increased by 6.5% to X pairs for the first time since 2019, thus ending a two-year declining trend. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -15.5% against 2019 indices. The pace of growth was the most pronounced in 2016 when imports increased by 47% against the previous year. Over the period under review, imports attained the maximum at X pairs in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, athletic footwear imports totaled $X in 2022. Overall, imports enjoyed a strong increase. The growth pace was the most rapid in 2016 when imports increased by 36%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Japan (X pairs) and South Korea (X pairs) represented roughly 59% of total imports in 2022. It was distantly followed by China (X pairs), Hong Kong SAR (X pairs) and Taiwan (Chinese) (X pairs), together mixing up a 38% share of total imports. Macao SAR (X pairs) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of +38.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and Hong Kong SAR ($X) constituted the countries with the highest levels of imports in 2022, with a combined 69% share of total imports. China, Taiwan (Chinese) and Macao SAR lagged somewhat behind, together accounting for a further 31%.

Among the main importing countries, China, with a CAGR of +42.3%, recorded 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

In 2022, the import price in Eastern Asia amounted to $X per pair, which is down by -3.9% against the previous year. Import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, athletic footwear import price increased by +25.9% against 2015 indices. The growth pace was the most rapid in 2018 when the import price increased by 12%. Over the period under review, import prices reached the maximum at $X per pair in 2021, and then dropped modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per pair), while Japan ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+8.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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