Analysis On The Current Situation Of Chinese Sportswear Market

China's sportswear industry is far from the ceiling

During the outbreak of new coronavirus, in order to reduce the degree of damage, sports brands actively layout new retail, live e-commerce and other new marketing methods. After the epidemic, health awareness is expected to be strengthened, and the e-commerce live broadcasting format will accelerate to mature. At the same time, the industry concentration is constantly improving, and the industry demand is expected to rebound.

In the medium and long term, the development logic of sports apparel industry has been supported by policies, the per capita cost and penetration rate are expected to continue to increase, and the industry scale is expected to continue to expand, and it is still far from the ceiling.

1. The market scale of China's sportswear industry continues to grow, and the market concentration is constantly improving

The domestic sports apparel industry rebounded strongly after the adjustment in 2013. Under the multiple favorable factors such as strengthening health awareness, rising national fitness trend, policy support and consumption upgrading, the sports apparel industry has witnessed a remarkable growth in recent years, and its proportion in the overall clothing market has increased steadily.

According to Euromonitor statistics, from 2013 to 2019, the market size of China's sportswear industry has been expanding. In 2019, the scale of China's sportswear market will reach 133.6 billion yuan. After the epidemic, health awareness is expected to be strengthened, and industry demand may rebound. Sportswear is a high-quality investment track for the clothing market.

According to Euromonitor statistics, the market share of Nike / Adidas will continue to increase in 2019, reaching 22.9% / 20.4% respectively, and SKECHERS will increase to 6.8%. Among domestic brands, Anta accelerated its share and further pulled away from Nike / Adidas with a market share of 16.4% (Anta brand / FILA accounted for 11% / 5.4% respectively), and lining / Tebu stabilized and recovered, with the market share of 6.3% / 4.9% in 2019.

Due to the functional attributes of products and the scarcity of marketing resources, sports apparel industry has higher barriers and higher concentration. With the competition of various brands and reshuffle of the industry, the top brands continue to deepen the barriers and scale steadily expand.

At present, high-quality leaders have been formed in the upper, middle and lower reaches of sports apparel industry. International leading brands cooperate with domestic upstream and downstream leading manufacturers and channel providers to build barriers. Local brands grow rapidly with geographical and local advantages, and scale effect is prominent. Industry barriers are multiple and deepening, which is good for leading enterprises and produces large market value companies.

Since 2013, the concentration of domestic sportswear market has increased significantly, with Cr5 increasing by 24.3% to 72.7%. Compared with the international market, the concentration of domestic sportswear industry is higher, and the improvement range is greater.

2. There is still room for improvement in per capita expenditure

From the perspective of consumption, according to Euromonitor statistics, from 2013 to 2019, the per capita consumption of sports shoes and clothing in China showed a fluctuating upward trend. In 2019, the per capita expenditure on sportswear in China reached 32.43 US dollars, more than three times of that in 2007.

Compared with developed countries, the ceiling of Chinese sportswear market is still far away. However, it is still only 2 / 3 of the global per capita expenditure, 1 / 4 of Japan, 1 / 5 of Germany, 1 / 6 of the United Kingdom and 1 / 12 of the United States.

According to the gap with the global average level, there is still a gap of US $12.3 between the average annual consumption of sports shoes and clothing and the global average level. When it is extended to the whole country, there is still room for growth of 17.22 billion US dollars in China's sports shoes and clothing market.

For the above data and analysis, please refer to the "analysis report on the development prospects and investment strategy planning of China's sporting goods industry" issued by prospective industry research institute. Meanwhile, prospective industry research institute provides solutions such as industrial big data, industrial planning, industrial declaration, industrial park planning, and industrial investment promotion.