Sep 10, 2018
Children Wear for Boys to Gain Substantial Demand, Adult Clothing to Influence Global Market, says Fact.MR
by Team Fact.MR
The global childrenswear market is foretold to gain momentum in growth due to the rising demand for high-quality products amid increasing safety concerns. With increase in disposable income, especially in developing economies, the growth of the global children wear market could see a rise in the coming years. Increasing interest in buying new clothes for kids could bode well for the global childrenswear market. Social media is expected to significantly push the global children wear market in terms of demand. Catchy advertisements could increase the interest of consumers in buying new lines of children wear products.
The global children wear market is expected to carry the influence of the adult wear market where some product lines could feature certain designs used for adult clothing. High birth rate in some economies could augment the demand in the global children wear market. The demand for children wear could be higher during festive and wedding seasons. High interest in buying new clothes during these seasons is expected to further push the global children wear market.
Fact.MR projects the global children wear market to attain a valuation of more than US$200 bn by the end of 2022 as it rises at a moderate CAGR. By category, the boys children wear market could take the lead as it values at a US$78.9 bn by the same year. It is projected to post a robust CAGR during the course of the forecast period 2017-2022. It could continue to gain market share by the final forecast year. This segment currently accounts for a third of the global children wear market in terms of revenue. The other two segments of the global children wear market by category are girls and unisex. In the Fact.MR report, the segments are studied on the basis of market share, revenue, and Y-o-Y growth.
By demographics, the global children wear market is classified into 2-14 years, 6-24 months, and less than 6 months. Amongst these, the less than 6 months market for children wear is foretold to rank higher with regard to revenue. By the end of 2022, it could be valued at a US$113 bn. Furthermore, it is forecast to post a 4.7% CAGR. According to the Fact.MR report, it is expected to continue to gain market share until the end of the forecast period. At present, it accounts for close to half of the global children wear market.
On the basis of price, the global children wear market is segregated into super-premium, premium, mid, and economy. By sales channel, the global children wear market is divided into online, specialty stores, franchise stores, and modern trade.
Regionally, the global children wear market is envisaged to find APEJ taking the driver’s seat in terms of revenue growth. This could be on account of the rapid growing population in the region. Although APEJ may rise at a moderate CAGR, it could be one of the most attractive regions of the global children wear market. APEJ is envisioned to continue taking command of the global children wear market in terms of value.
Companies operating in the global children wear market are prognosticated to enlarge their presence using effective strategies such as merger and acquisition, collaboration, agreement, and new product launch. Innovation could be largely focused upon as companies looking to gain a competitive edge over their toughest opponents in the global children wear market. Extension of product portfolio could be another strategy adopted in the global children wear market in order to gain traction and secure a position of strength. With a view to attract more number of consumers, companies may invest in marketing and promotional activities with the involvement of celebrities.