Japan Apparel and Footwear Market to Establish Growth with an Impressive CAGR Until FY2027
Changing fashion is driving the growth if Japan Apparel
and Footwear Market, FY2017-FY2027.
According to TechSci report on, “Japan Apparel
And Footwear Market
By
Type (Apparel and Footwear), By End-User (Women, Men, and Kids), By
Distribution Channel (Specialty Stores, Supermarket/ Hypermarket, Online
Channels, and Others (Counter shops, departmental stores, etc.)), By Region,
Competition Forecast & Opportunities, FY2027”, Japan
apparel and footwear market has shown promising growth in
historical years until FY2020 and is expected to continue its growth in
upcoming forecast years FY2023 to FY2027. Japan apparel and footwear market
owes its growth to the factors like evolving fashion industry. Moreover,
younger generation is actively inclined toward following the recent trends and
fashion senses thus driving the growth of the Japan apparel and footwear market
in the upcoming five years. Also, owing to the rapidly increasing disposable
income among the population, it is aiding the growth of the Japan apparel and
footwear market in the next five years. Increasing brand awareness, and
preference for the imported goods is also influencing the population’s purchase
decisions thus supporting the growth of the Japan apparel and footwear market
in the forecast years. Organized retail industry and e-commerce channels
promoting branded apparels and footwear is further substantiating the growth of
the Japan apparel and footwear market in the future five years. Although, in
recent years during the pandemic and outbreak of COVID-19, Asian countries
suffered huge losses. Lack of raw materials and input shortages are a major
concern for apparels and footwear manufacturers and thus may put a mild
restraint on the growth of the future market. Various global brands are
introducing their products in the country as well as the fashion events and
exhibitions, thereby displays of the trendy designs etc. are further aiding the
growth of the Japan apparel and footwear market in the forecast period, until
2026.
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The Japan apparel and
footwear market is segmented into type, end-user, distribution channel,
regional distribution, top 3 states analysis in each region, and competitional
landscape. Based on distribution channel, the market is further segmented into specialty
stores, supermarket/hypermarket, online channels, and others (counter shops,
departmental stores, etc.). E-commerce sub-segment is anticipated to hold the
largest revenue shares of the market and dominate the market segment on the
account of rapidly increasing purchase decision of the consumers. Moreover,
penetration of the internet and increased usage of smartphones is also driving
the growth of the Japan apparel and footwear market in the upcoming five years.
Also, specialty stores with the branded labels and global brand names are also
anticipated to register significant growth of the Japan apparel and footwear
market in the future five years.
The Japan apparel and
footwear market is growing along with the developing and evolving market
players like Uniqlo, GU, ASICS, BAPE, Mastermind Japan, Cav Empt, Nike, Inc.,
VF Corporation, Adidas America, Inc., Under Armour, Inc., PVH CORP., LEVI
STRAUSS & CO., H&M Hennes & Mauritz LP, Kering Americas, Inc., Zara
USA, Inc., among others. The mentioned market players have major market revenue
shares than the other players existing or entering the market. Major market
players are actively dedicated in the research and development of the advanced
products such that the consumer’s demand could be fulfilled. Consistent
research ensures the future launches for the better products and services. With
rapidly surging demand for the advanced products, the new market entrants would
be able to establish their brand and thus their market-place. Other strategies
include collaborations and partnerships with the pre-existing market players or
the research institutes such that government funding can be availed for the
product development.
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“Japan fashion industry is growing, and evolving
fashion trends is further establishing a robust growth of the Japan apparel and
footwear market. Demand for the trendy clothes, and footwear for the kids and
new-born babies is further substantiating the growth of the Japan apparel and
footwear market in the future five years. Branded clothes and footwear often generate
valuable CAGR and thus brings economic growth for the retail industry thereby
substantiating the growth of the Japan apparel and footwear market in the
upcoming five years. New market players are advised to focus on studying the
evolving and changing fashion as well as customer preferences. Developing
designer products meanwhile maintain the quality and authenticity of the
product and providing the recent fashion sense into their products is anticipated
to strengthen the brand establishment for the new market players,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Japan Apparel and
Footwear Market By Type (Apparel and Footwear), By End-User (Women, Men, and
Kids), By Distribution Channel (Specialty Stores, Supermarket/ Hypermarket,
Online Channels, and Others (Counter shops, departmental stores, etc.)), By
Region, Competition Forecast & Opportunities, FY2027” has evaluated the
future growth potential of Japan Apparel and footwear market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in Japan Apparel and footwear market.
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