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China Footwear Market Report 2005
BroadWin China Strategy Consulting Co.,Ltd., Aug 2006, Pages: 69
China has seen its market for footwear expand at a rapid pace in recent years.
The transformation of the growing Chinese population has established a middle class with a rising high disposable income, which has cultivated a demand for footwear. The standard of living has increased but the cost of living is still low and consumers’ purchasing power has grown.
The Chinese footwear market generated total revenues of $6.8 billion in 2004, representing a compound annual growth rate (CAGR) of 7.6% for the five-year period spanning 2000-2004. This growth was substantially stronger than the Asia-Pacific market itself.
Footwear consumption volumes increased with a CAGR of 4.8%, to reach a total of 2000 million pairs of shoes in 2004. The market is expected to achieve sales of 2,460.1 million pairs in 2009, this demonstrated by a predicted CAGR of 4.2% over the 2004-2009 periods. Looking forward, the market is forecast to decelerate its current performance, with an anticipated CAGR of 7% for the five-year period 2004-2009 expected to drive the market to a value of $9.6 billion by the end of 2009. China has a huge market of potential consumers, which should cultivate growth in the market.
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