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Asia Pacific offers good licensing opportunities in apparel, personal accessories and toys

As I explore in our ‘Key Character Licensing Trends Shaping Apparel, Personal Accessories and toys in Asia Pacific’ global briefing, Asia Pacific is a promising region where growing populations, rising disposable incomes, expanding middle classes and rapid urbanisation are all driving growth in licensed products sales.

Apparel, accessories and toys are the top three most licensed industries. The region is home to the world’s biggest apparel and accessories markets while being the most dynamic toys market. Although character licensing is dominated by Japanese properties, international franchises have been gaining popularity seizing the opportunities the region offers.

Key findings

Asia Pacific: Size of the prize

Apparel and footwear, personal accessories and toys are the top three most licensed industries in Asia Pacific. It is the world’s biggest apparel and accessories market, while the region is the world’s fastest-growing toys market with five per cent CAGR projected over the next five years.

Favourable macroeconomic indicators

Asia Pacific is home to more than half of the world’s population with the best middle-class expansion potential is in the region. Rising disposable incomes and rapid urbanisation are fuelling the growth in licensing.

Apparel

Childrenswear is a crucial category since most characters target children and the region is home to two of the world’s largest child populations, China and India. Japan-based Uniqlo has been one of the most dynamic companies expanding its children’s characterwear range in recent years.

Personal accessories

Backpacks, followed by cross-body bags, is the most heavily licensed category in accessories. In overall category sales, however, jewellery is by far the largest category. Hong Kong-based Chow Tai Fook is the most predominant company in character licensed jewellery in the region.

Toys

Half of the world’s top 10 most heavily licensed toys markets in Asia Pacific. South Korea, Indonesia and Singapore are the top three countries in terms of licensing penetration, with more than 40 per cent of toys licensed.

Japanese characters dominate

Through its manga series, Japan has a huge impact on character licensing across Asia Pacific. With the exception of Yo-Kai Watch, most of these are long-established franchises making the region exceptionally challenging for international properties to penetrate and expand.

For more on the work carried out by Euromonitor International, click here.

About Robert Hutchins

Robert Hutchins is the editor of Licensing.biz and ToyNews. Hutchins has worked his way up from Staff Writer to the position of Editor across the two titles, having spent some six years with both ToyNews and Licensing.biz, and what now seems like a lifetime surrounded by toys. You can contact him by emailing robert.hutchins@bizmedia.co.uk or calling him on 0203 143 8780 You can even follow him on Twitter @RobHutchins3 if ranting is your thing...

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