Global Children's Wear Market 2023

Global Children's Wear Market 2023

Description
The global children's wear market is projected to reach USD 324.3 billion by 2029, exhibiting a CAGR of 4.1% during the 2023-2029 forecast period. Children's clothing, made from soft, comfortable fabrics and designed for play and rest, represents a profitable apparel segment poised to outperform men's and women's wear. This growth trajectory is driven by favorable demographic and economic trends such as rising disposable incomes and an expanding working population base. Additional factors fueling the success of children's wear include product customization, innovation, and affordable price points catering to parents.

Matching outfits and "twinning" clothes are increasingly popular among children and parents owing to the ability to customize, along with appealing innovative designs, trusted brands, and budget-friendly options. Celebrity parents often promote coordinating styles with their children, which helps drive interest and demand. Child celebrities on social media experimenting with the latest trends also attract their young followers while providing inspiration, further boosting the market. For instance, the Instagram account "Kikiandshrads" creatively markets children's fashions. Overall, social media and aligning with children's preferences will continue contributing to market growth.

Parents enjoy showcasing matching children's outfits on platforms like Instagram, YouTube, and Snapchat. "Twinning" with kids represents a popular social media theme. Retailers such as John Lewis offer mini-me collections with coordinating adult and children's styles. Scientific research indicates celebrity endorsements can improve product recall. Children's wear brands increasingly leverage celebrity influencers on social media for promotions. The combined power of celebrity influence and social media is expected to positively shape the children's wear market going forward.

Market Segmentation
The market is segmented based on various factors, including Type, Distribution Channel, and Geography.

Segmentation by Type
Apparel
Footwear
Other Product Types

Segmentation by Distribution Channel
Offline Retail Stores
Online Retail Stores

Segmentation by Geography
North America - United States, Canada, Mexico, and Rest of North America
Europe - United Kingdom, Germany, France, Italy, Spain, Russia, and Rest of Europe
Asia-Pacific - China, Japan, India, Australia, and Rest of Asia-Pacific
Latin America - Brazil, Argentina, and Rest of Latin America
Middle East and Africa - Saudi Arabia, South Africa, and Rest of Middle East and Africa

Growth trends in the global children's wear market vary across regions, with the United States, China, Germany, United Kingdom, and India representing the largest markets presently. However, smaller emerging markets are forecast to experience higher growth rates compared to these dominant countries. For example, while Germany ranks among the top five, its projected growth lags behind developing economies such as Japan, Brazil, and South Africa.

In the United States, the children's wear market generated revenues of USD 51 billion in 2022, exhibiting a CAGR of 1.7% over the 2023-2029 period. Growth is being fueled by the popularity of gender-neutral clothing and brands offering inclusive sizing options to meet young parents' demands.

The Asia-Pacific region is expected to capture a significant share of the children's wear market during the forecast period. This is attributable to the expanding infant population and rises in household income, especially in India and China. These factors are projected to drive greater consumer expenditure on children's apparel and footwear. Aggressive promotional activities by retailers, rapid urbanization, and the emergence of e-commerce platforms will also propel market growth across Asia-Pacific.

Key players operating in Asia-Pacific are focusing on innovation to attract a wider consumer base. For instance, brands like Uniqlo are incorporating features such as non-toxic materials, UV ray protection, and water-repellent coatings to ensure comfort and safety for children. Retailers are also opening luxury boutiques to serve the flourishing demand for high-end children's clothing in the region.

Competitive Landscape
Prominent companies like Adidas AG, Anta Sports Products Limited, Benetton Group S.R.L., Burberry Group plc, Carter's Inc., Dolce & Gabbana Luxembourg S.A.R.L., H & M Hennes & Mauritz AB, Mothercare plc, Nike Inc., Only The Brave S.p.A., Puma SE, Shenzhen Balabala Electronic Commerce Co. Ltd., The Gap Inc., and Uniqlo Co. Ltd. compete in the children's wear market. To maintain a competitive edge, these players employ strategies such as investments, product innovations, mergers and acquisitions, and partnerships. They also focus on targeted marketing initiatives and expanding their product range with new designs. These efforts aim to enhance their market positioning and effectively cater to specific consumer demographics.

Recent Industry Developments
Nike announced the launch of the Jordan Brand's 23/7 shoe for children in January 2023. The shoe prioritizes comfort and is available in various colorways that pay homage to significant moments and influential figures associated with the Jordan brand.

In June 2022, Carter's Inc. partnered with Super League Gaming to release a new Roblox game called “Fashion Runway” under the Carter's brand.

During Milan Fashion Week in March 2022, United Colors of Benetton revealed plans to renovate its Corso Vittorio Emanuele location to align it with the brand's new metaverse store. Both stores were set to open simultaneously, offering a similar experiential atmosphere.

Why Buy This Report?
Get a detailed picture of the Global Children's Wear Market
Identify segments/areas to invest in over the forecast period in the Global Children's Wear Market
Understand the competitive environment, the market’s leading players
The market estimate for ease of analysis across scenarios in Excel format
Strategy consulting and research support for three months
Print authentication provided for the single-user license