Forecast Of China'S Sports Shoes And Clothing Market Size In 2020: The Market Size Will Exceed 50 Billion US Dollars (Figure)
China business intelligence network news: in recent years, China's policy has repeatedly encouraged, supported and guided the development of sports related industries, and national fitness has become a common practice. The data shows that in 2018, the total scale (total output) of the national sports industry was 2657.9 billion yuan, and the added value was 1007.8 billion yuan. The added value of sports industry accounted for 1.1% of GDP.
Data source: compiled by Statistics Bureau and China Business Industry Research Institute
According to the data released by Euromonitor, the market size of China's sports shoes and clothing in 2019 is 45.95 billion US dollars, with a year-on-year growth of 12.6%. However, the per capita retail sales of sports shoes and clothing are only 1 / 12 of that in the United States and 1 / 5 in the United Kingdom and Germany. With the promotion of urbanization and the increase of per capita income, the retail sales of sports shoes and clothing per capita in China has at least 5 times of room for improvement. China's sports shoes and clothing market has a large scale and high growth rate, but the per capita consumption is at a low level.
In 2020, due to the impact of the epidemic situation, people will inevitably reduce going out for their own safety, which will have a greater impact on China's sports shoes and clothing industry. However, considering that after the epidemic situation is completely controlled, people's sports consumption potential can be released, and combined with the cultivation of people's awareness of exercise during the epidemic period, the introduction of sports policies, the rise of sports fitness and consumption upgrading, etc., the China Business Industry Research Institute predicts that China's sports shoes and clothing market will continue to grow in 2020, the growth rate will slow down, and the market size will exceed $50 billion.
Data source: Euromonitor and China Business Industry Research Institute
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