Chinese Footwear Market to Bolster Despite Declining International Sales
The footwear market in China is projected to grow at a CAGR of around 10% during 2010-13 owing to intense competition with the arrival of international brands, says RNCOS in its latest report.
- (1888PressRelease) August 27, 2010 - China's presence in the world footwear business is pervasive as it had the largest share in the global production during 2009. This transformation and emergence of China at the forefront is largely due to its abundant resources of raw hides and skins, sound industrial chain and huge workforce. According to our research report "China Footwear Market Analysis", China's domestic footwear market is projected to grow at a CAGR of around 10% (value terms) during 2010-2013. The growth will be boosted by intense competition among international and domestic players and increasing brand awareness.
Our research has found that the sales of Chinese footwear in the international market have declined owing to anti-dumping duties imposed by many European countries. The trend may continue in the years to come, but the country's large domestic market and low level of footwear consumption (around 2 pairs shoe per person annually in 2008) will provide vast untapped market to footwear companies. Besides, increasing online sales and aggressive marketing strategies adopted by the companies will fuel growth in the footwear market.
We have also found that with the expansion of footwear firms to the Middle East, Russia and ASEAN countries and rising domestic demand, the leather shoe production is projected to grow at a CAGR of around 7% during the forecast period. Growth in leather shoe production will be supplemented by demand from new markets. According to our report, the US is the biggest export destination, followed by the EU, ASEAN and Japan.
"China Footwear Market Analysis" provides detailed overview of the footwear market trends in China with future projections till 2013. Our report provides information regarding footwear consumption, production, trade, regional hubs, growth prospects and competitive landscape including strength and weakness analysis of leading players. The report provides true picture of China's footwear industry to help clients making prudent investment decision.
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RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.
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