Asics Market Share
Asics Corporation, founded in 1949 as Onitsuka Co., Ltd., is a Japanese multinational corporation that specializes in manufacturing sports equipment, particularly footwear, apparel, and accessories. Headquartered in Kobe, Japan, Asics is renowned for its high-performance running shoes, athletic wear, and sports-related products. The company has a strong global presence and is a leading brand in the athletic footwear market. Over the years, Asics has been committed to developing innovative products that enhance athletic performance while ensuring comfort and durability.
The company’s name “Asics” is an acronym derived from the Latin phrase “Anima Sana In Corpore Sano,” meaning “a sound mind in a sound body.” This reflects Asics’ philosophy of promoting health and wellness through sports and physical activity. Asics has established itself as a prominent player in both professional sports and casual athletic wear markets, with a focus on running, tennis, and training.
Major Products and Services
Asics offers a wide range of products that cater to the needs of professional athletes, fitness enthusiasts, and casual consumers alike. Below are the key categories of products and services that Asics provides:
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Footwear: Asics is best known for its high-performance running shoes. The company’s footwear line includes models for various sports, including running, tennis, basketball, and training. Asics shoes are widely regarded for their innovative technologies, such as the GEL cushioning system, FlyteFoam, and Trusstic System, which enhance comfort, stability, and support.
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Apparel: Asics offers a broad selection of athletic apparel, including running clothes, training wear, and performance-focused outerwear. The apparel is designed to be lightweight, breathable, and durable, ensuring that athletes and fitness enthusiasts can perform at their best.
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Accessories: In addition to footwear and apparel, Asics provides a variety of sports accessories, such as socks, hats, gloves, and bags. These accessories complement the main product lines and contribute to the overall athletic experience.
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Performance Technology: Asics integrates various technologies into its products to improve performance. For example, the company’s running shoes often feature GEL cushioning for impact protection, while FlyteFoam provides lightweight cushioning for longer-lasting comfort. Asics also utilizes proprietary systems like the Trusstic System for improved stability and motion control.
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Tennis Equipment: Asics is a recognized brand in the tennis community, offering tennis shoes, apparel, and accessories designed to meet the demands of the sport. These products are designed for both competitive players and recreational enthusiasts.
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Sports Equipment: Asics also manufactures various sports equipment, including items for running, training, and general fitness activities. The company has collaborated with athletes and sports professionals to develop specialized products aimed at improving performance and comfort.
Major Competitors
Asics competes in a highly competitive global athletic wear and sports footwear market, facing rivalry from well-established brands in the sports and fitness industry. Below are some of the major competitors:
Nike, Inc.
Nike is one of the largest and most successful sportswear and athletic footwear companies in the world. Founded in 1964, Nike has a vast portfolio of products, including footwear, apparel, equipment, and accessories. Nike is known for its innovative designs and endorsements from top athletes, making it a dominant force in the sportswear industry.
Nike’s market share is substantial across multiple product categories, and the brand is particularly recognized for its running shoes and sports apparel. Nike’s global marketing efforts and extensive sponsorships in various sports give it a competitive edge in both the retail and professional sports markets.
Adidas AG
Adidas is another major competitor to Asics in the athletic footwear and apparel industry. Founded in 1949, Adidas is a global leader in the design and manufacture of sports shoes, clothing, and accessories. Adidas is well-known for its innovative footwear technology, including the Boost cushioning system and the Primeknit upper.
Adidas competes directly with Asics in the running shoe category and has a significant presence in sports such as soccer, basketball, and training. The brand is recognized for its strong international presence and its collaborations with high-profile athletes and celebrities.
Puma SE
Puma is a global sportswear brand that offers a wide range of athletic footwear, apparel, and accessories. Founded in 1948, Puma competes with Asics in multiple sports categories, including running, training, and casual sportswear. Puma’s footwear lineup includes performance shoes for running and training, as well as lifestyle footwear for casual wear.
Puma’s strong presence in the European market, combined with its expanding footprint in North America and Asia, positions it as a key competitor to Asics. Puma’s collaborations with athletes, designers, and influencers further enhance its market appeal.
New Balance Athletics, Inc.
New Balance is a well-established footwear brand that specializes in running shoes, training footwear, and athletic apparel. Founded in 1906, New Balance is known for its commitment to high-quality manufacturing and its dedication to providing comfort and performance for athletes.
New Balance competes with Asics in the running shoe market and is particularly known for its wide selection of sizes, making it popular among consumers who require specialized fits. New Balance also competes in other sports, including baseball, basketball, and tennis.
Under Armour, Inc.
Under Armour is a relatively newer competitor in the sportswear market, founded in 1996. The company has quickly gained traction in the performance apparel and athletic footwear industries. Under Armour’s footwear offerings, including running shoes and basketball shoes, compete with Asics in terms of performance and technology.
Under Armour is recognized for its emphasis on moisture-wicking and performance-enhancing fabrics in its apparel, as well as its athletic shoes designed to improve speed, agility, and comfort. The brand has strong endorsement deals with athletes, which helps it maintain a competitive edge.
Market Share Over the Past Ten Years
The table below outlines Asics’ market share and market value in the global athletic footwear and apparel market over the past ten years. This data reflects the company’s performance and its efforts to maintain a competitive position in the market.
| Year | Market Share | Market Value (USD) |
|---|---|---|
| 2015 | 6.0% | $3.5 billion |
| 2016 | 6.1% | $3.7 billion |
| 2017 | 5.9% | $3.9 billion |
| 2018 | 5.7% | $4.0 billion |
| 2019 | 5.5% | $4.3 billion |
| 2020 | 5.3% | $4.5 billion |
| 2021 | 5.2% | $4.7 billion |
| 2022 | 5.0% | $4.9 billion |
| 2023 | 4.9% | $5.0 billion |
| 2024 | 4.8% | $5.2 billion |
Market Share by Region
Asics operates globally, with its strongest markets in Asia, North America, and Europe. The table below summarizes Asics’ market share by region:
| Region | Market Share | Market Value (USD) |
|---|---|---|
| North America | 5.5% | $1.2 billion |
| Europe | 5.2% | $1.5 billion |
| Asia | 10.0% | $2.0 billion |
| South America | 2.5% | $0.2 billion |
| Africa | 1.8% | $0.1 billion |
| Middle East | 2.0% | $0.1 billion |
Asics has a particularly strong presence in Asia, where it commands a significant market share due to its roots in Japan and its deep integration with the region’s sports culture. In North America and Europe, Asics faces competition from other global brands like Nike and Adidas, which have larger market shares in these regions. South America, Africa, and the Middle East represent smaller but growing markets for the company.
Factors Affecting Market Share
Several factors have influenced Asics’ market share over the years:
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Competition: The athletic footwear and apparel market is highly competitive, with brands like Nike, Adidas, and Puma consistently outperforming in various markets. Asics faces challenges in maintaining its market position against these established global brands, particularly in key markets like North America and Europe.
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Technological Advancements: Asics has a long history of developing innovative technologies in its footwear, such as the GEL cushioning system and FlyteFoam technology. However, competitors like Nike and Adidas also invest heavily in performance technologies, making it essential for Asics to continue innovating to stay relevant.
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Brand Perception: Asics is generally seen as a performance-oriented brand, particularly in the running and training segments. However, in recent years, there has been increased pressure to expand its appeal to a broader demographic by creating lifestyle-focused products that compete with brands like Nike and Adidas in the athleisure market.
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Global Economic Conditions: Economic downturns and changing consumer spending habits can affect the demand for athletic footwear and apparel. Asics’ market share can be influenced by macroeconomic factors, such as recessions or shifts in consumer preferences toward more affordable or luxury products.
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Distribution Channels: Asics relies heavily on both traditional retail and e-commerce channels to distribute its products. The rise of online shopping has created new opportunities, but it also puts pressure on Asics to compete with direct-to-consumer brands and other e-commerce-driven companies.
Market Share Trends in the Next Five Years
The following table outlines Asics’ projected market share trends over the next five years. These projections reflect the company’s ongoing efforts to maintain competitiveness through innovation and market expansion.
| Year | Projected Market Share | Projected Market Value (USD) |
|---|---|---|
| 2025 | 4.7% | $5.4 billion |
| 2026 | 4.6% | $5.5 billion |
| 2027 | 4.5% | $5.7 billion |
| 2028 | 4.4% | $5.8 billion |
| 2029 | 4.3% | $6.0 billion |
These projections suggest a gradual decline in Asics’ market share over the next five years, primarily due to strong competition from other global brands. However, Asics is expected to maintain its position in key regions, particularly Asia, and continue to innovate in the performance footwear market.