Building on what it estimates was total revenue of $187.29 billion in 2022, the market research firm Future Market Insights Inc. (FMI – futuremarketinsights.com), predicts the global children’s apparel market will log a healthy CAGR of 6.8 percent between now and 2033, topping out at $386.19 billion by the end of this time period.
In a recent report, among the factors contributing to this growth, FMI identifies:
- Urbanization, which in addition to a “skyrocketing e-commerce sector” is pushing the sales of kid’s apparel
- A “rising proclivity for branded products among parents residing in big cities” in combination with “increasing brand awareness “about children’s clothing lines
- Rising product customization, affordable pricing, and availability of innovative kids’ apparel augment product sales further.
On the downside, in its report, FMI cites a number of challenges the industry will have to overcome as it continues to expand, both in North America and beyond. Foremost among these, the report says is, “volatility in raw materials prices, including cotton, which can hamper product sales.”
Children’s Apparel Trends Worldwide
In terms of trends to look out for FMI highlights the increasing popularity of gender-neutral clothing. “To profit from this ongoing trend, manufacturers are introducing gender-neutral apparel to boost their product sales,” the report says. FMI also identifies the influence of “celebrity parents like Beyoncé and Kim Kardashian, parents are embracing age-appropriate and miniature versions of adult clothing thanks to social media penetration.”
In addition to opportunities in the U.S. market, the report says a growing infant population in developing countries such as China and India, in particular, along with growing disposable incomes, promised to make the Asia Pacific region an especially promising one.
In addition, “Surging high-net-worth individuals, as well as urbanization in the nations of the Middle East, particularly Qatar, Saudi Arabia and the United Arab Emirates, are unlocking massive opportunities for luxury kid’s apparel brands to pave their way into the apparel market.” To access the complete report, click here.
