Sport and leisure goods market in China – additional information
In 2012, the export value of sporting goods from China had been close to 17 billion U.S. dollars. Footwear makes up a large share of the Chinese sports manufacturing industry. Being the world’s largest footwear producer, production of footwear in China had amounted to over 13 million pairs in 2012, accounting for 63 percent of the global shoe production.
Apart from production, China also poses as one of the largest sporting goods markets worldwide. For a long time, the importance of physical exercise has not been valued in China. Along with rising standards of living and the growth of disposable income, sports and other leisure activities have undergone a renaissance among Chinese consumers. The sporting goods market in China has witnessed a continuous growth in value added between 2008 and 2012. This development was paralleled by measures of the Chinese government designed to increase sports participation, such as the development of sports facilities and the commercialization of sports. Those efforts were even intensified after the Olympic Games in Beijing in 2008. According to the Hurun Research Institute in 2014, over 90 percent of Chinese high-net-worth individuals exercised at least once a week. Consequently, the domestic demand for sporting goods continues to increase.