NEWARK, Del, Sept. 02, 2024 (GLOBE NEWSWIRE) -- The global kids apparel market is on a robust growth trajectory, predicted to register a CAGR of 6.8% over the forecast period, according to a recent analysis by Future Market Insights (FMI). The market size is anticipated to surge from USD 200.03 billion in 2023 to an impressive USD 386.19 billion by the end of 2033.
The kids' apparel industry is expected to witness significant expansion in the coming years, driven by several key factors. Rising investments aimed at establishing brands that specifically target the needs of parents and children are poised to fuel market growth. Organized retailers are drawing more consumers by leveraging various strategies, including promotional activities, the right product assortments, targeted advertising, and enhanced visual merchandising techniques.
Notably, many brands that previously catered exclusively to adult fashion have now broadened their product lines to include children's clothing. This expansion, coupled with new trends inspired by child celebrities and the increasing influence of social media platforms, is significantly boosting the sales of kids' apparel.
The global market for kids' apparel is experiencing significant growth, driven by an increase in clothing-related purchases among parents. This surge can be attributed to the rising number of newborns worldwide, which has led to heightened demand for children's clothing products.
Efforts to reduce child mortality rates across the globe have also played a pivotal role in boosting the market. Substantial progress in this area has contributed to a growing population of young children, further fueling the need for kids' wear. According to 2021 statistics from the World Bank, approximately 25% of the global population is under the age of 15, highlighting the expansive market potential for children's apparel.
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Key Takeaways from the Kids Apparel Market
- China is a significant market for kids' apparel. Certain factors that positively influence the market include a rising birth rate, robust economic growth, and increasing disposable incomes.
- The United States kids apparel industry is being driven by the influence of social media and new emerging apparel trends. Matching outfits and miniature, age-appropriate variants of adult clothing for kids are witnessing heightened demand. As a result, the market in the United States is projected to rise over the forecast period.
- On the basis of end-user, the boys' segment is projected to account for a significant market. The girls' segment is expected to exhibit prominent growth over the forecast period due to slowly shifting preferences owing to evolving trends.
- Based on product type, the casual segment is projected to witness significant growth over the stipulated time frame. At present, parents are more concerned about children's health and opt for comfortable, light, and easy-to-wear clothes throughout the day.
Key Players Making Initiatives to Increase Brand Awareness among Target Segments
The kids apparel sector is extremely competitive. Market companies are responding to growing consumer trends, i.e., the target segment, and inventing new items in order to better position their products for a high profit margin. As a result, key companies are focusing on expanding their product offerings in order to launch new clothes fashion and better satisfy the demographic segment of consumers.
Key Players Active in the Industry
- Carter’s, Inc.
- The Children’s Place, Inc.
- Inditex
- Hennes & Mauritz Retail Pvt. Ltd
- Nike, Inc.
- Cotton On Group
- Mothercare
- Gianni Versace S.r.l.
- Burberry
- Gerber Childrenswear
- Others
Recent Development
- In September 2022, Carter's Inc. partnered with Hilary Duff to introduce a limited edition of Hilary Duff x Carter's children's wear. The new collection comprises bright and neutral colors that easily mix-match. It includes layering accessories and pieces that allow quick changes and provide alternatives for girls, boys, and various gender-neutral styles.
- In June 2021, Row, a luxury brand, introduced its first-ever kids' line of clothing that happens to be gender-neutral. The new offering consists of crewneck sweaters, belted cardigans, and lounge pants, all in luxurious cashmere.
- In April 2021, Carter's Inc. united with TerraCycle, which specializes in international recycling, to introduce KidCycle, its recycling program, to recycle children's wear nationwide.
Key Market Segmentation
By Product Type:
- Formal
- Casual
- Semi-formal
By End User:
- Boys
- Girls
By Age Group:
- 0-12 Months
- 1-5 Years
- 5-10 Years
- 10-12 Years
By Distribution Channel:
- Offline
- Online
By Regions:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
Author By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management in consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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