China'S Sports Shoes Market Is Booming, And High-End Products Are Still Lacking

The market share of other countries is relatively high, accounting for about 13% of the global market. Since 2010, China's sports shoes and clothing industry has maintained a high development speed, and has successively established Anta, Li Ning, 361 and other brands. However, due to the late rise of domestic brands and low innovation awareness, it is mainly concentrated in the low-end development. At present, international brands such as Nike and adidas still lead the Chinese market, and the market share is still on the rise, constantly crowding out the country Market share within small and medium-sized groups.

According to the Research Report on the development of China's sports shoes and clothing industry in 2020 released by xinsijie Industry Research Center, with the rapid development of China's economy and the sports policy driven by national fitness, China's sports shoes and clothing market demand continues to grow, and the industry has ushered in development opportunities. In 2018, the total market volume of sports shoes and clothing in China is about 280 billion yuan, with a year-on-year growth of about 20%. According to the current development trend, the sports footwear industry will continue to maintain a compound growth rate of about 10% in the next five years, and the overall scale is expected to exceed 450 billion yuan in 2023.

Although China's sports shoes and clothing industry has maintained a high development speed in recent years and its market share in the global market is also expanding, there is still a large gap in per capita consumption between China and Japan, Europe and the United States. The low per capita consumption is closely related to the market penetration rate of sports shoes and clothing in China. In 2018, China's sports shoes and clothing only accounted for 10% of the total shoe and clothing market. However, with the holding of 2022 Beijing Winter Olympic Games, it will promote the sports awareness of domestic residents. Therefore, it is estimated that the market penetration rate of sports shoes and clothing in China will reach 12% in 2023.

Since the national fitness policy was put forward, Chinese residents' awareness of fitness has been improved, but it is rarely implemented. Therefore, although China's sports industry has developed rapidly, the overall scale is still small and the vitality is not strong. In order to improve residents' Sports frequency and promote sports consumption, the State Council has issued "several opinions on accelerating the development of sports industry and promoting sports consumption", which proposes to establish a complete sports industry system with complete categories in 2025, and at the same time, improve the market mechanism to stimulate consumption demand. With the continuous construction of the government, the sports industry has been developed rapidly, and the sports shoes and clothing industry still has great development potential.

New thinking industry analysts said that since the 2008 Beijing Olympic Games, China's residents' awareness of fitness has been improved, and the sports shoes and clothing industry has developed rapidly. In terms of domestic and foreign brands, Adidas still dominates the domestic market. In recent years, due to the rapid development of the clothing industry in China, the rapid development of the clothing industry is becoming more and more important. Therefore, although the development potential of the industry is great, it is difficult for new brands to develop.