Sportswear market in China grows faster than expected as sports fever booms
China's sportswear market is growing faster than expected
After two consecutive years of decline from 2012 to 2013, China's sportswear market experienced a forced rebound from 2014 to 2018, with the market scale increasing year by year and the growth rate accelerating.China's sportswear market exceeded $40 billion in 2018, reaching $40.1 billion, up 19.5% year on year and the highest growth rate in nearly seven years.
In terms of growth rate, China's sportswear market has a compound annual growth rate of nearly 10% in the past decade, which is significantly higher than that of other countries.During the decade from 2008 to 2018, China's sportswear market grew at a compound rate of 9.8%, compared with 6.4% in the UK, 5.5% in the US, 2.6% in Japan and 2.2% in Germany.
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