The Asia-Pacific men’s wear market is anticipated to grow at a CAGR of 6.5% during the forecast period. The increasing urbanization in countries such as India, Vietnam, and China coupled with the good economic growth of the region is the major factor driving the growth of the men’s wear market across the region. Additionally, the increasing footwear market shares of countries such as Japan, China, and India owing to the increasing focus of the region’s millennials population towards the fashionable footwear is also expected to impact the growth of the Asia-Pacific footwear market. Moreover, sports apparel penetration is also increasing significantly across the region owing to the increasing disposable incomes, which in turn, is expected to fuel the growth of the Asia-Pacific men’s wear market.
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The Asia-Pacific men’s wear market is segmented based on product type and distribution channels. Based on the product type, the market is sub-segmented into clothing, accessories, and footwear. The clothing segment is estimated to contribute a prominent share in the market. The footwear segment is estimated to grow significantly owing to its high popularity among millennials and the young population. Based on the distribution channel, the market is sub-segmented into online and offline. The offline distribution channel is estimated to contribute a significant share while the online distribution channel is estimated to exhibit considerable growth during the forecast period.
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Some of the key players of the Asia-Pacific men’s wear market include FILA Luxembourg S.a.r.l., Peter England (Aditya Birla Fashion & Retail Ltd.), Raymond Ltd., and others. The market players are considerably contributing to market growth by adopting various strategies to stay competitive in the market. For instance, in October 2019, Raymond Ltd. announced its plan to have a retail network of around 2,000 stores across all its brands in the domestic market by 2021, owing to the expansion of fabric and fashion retailers in smaller towns. The company, which opened its 1,000th Raymond branded store in Surat in October 2019, has plans to add another 500 stores by 2021, taking the total count to 1,500 branded stores across India.
Market Segmentation
Asia-Pacific Men’s Wear Market by Product Type
• Clothing
• Accessories
• Footwear
Asia-Pacific Men’s Wear Market by Distribution Channel
• Online
• Offline
Regional Analysis
• China
• India
• Japan
• Rest of Asia-Pacific
Company Profiles
BEAMS Co., Ltd.
• Overview
• BEAMS Co., Ltd. in Men’s Wear Landscape
• Recent Developments
• EDWIN Europe GmbH
• FILA Luxembourg S.a.r.l.
• Li Ning Co. Ltd.
• Peter England (Aditya Birla Fashion & Retail Ltd.)
• Nike Inc.
• Raymond Ltd.
• Savvy Garments Hangzhou
• World Co. Ltd.
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