The global baby apparel market size is expected to reach USD 82.54 billion by 2027, exhibiting a CAGR of 4.2% during the forecast period. The growing inclination towards fashionable kid clothes among modern age parents will boost the growth of the market, states Fortune Business Insights, in a report, titled “Baby Apparel Market Size, Share Industry Analysis, By Type (Top wear, Bottom wear, and Others), Material (Cotton, Wool, and Others), End-user (Girls, and Boys), and Regional Forecast, 2020-2027.” The market size stood at USD 62.04 billion in 2019.
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The report on thebaby apparel market contains:
Exceptional insights into the marketMeticulous scrutiny of the segmentsCurrent developments and driversFundamental information about key playersDominant regions and playersCOVID-19 pandemic impact
Convenience of E-commerceto BoostProduct Demand
The increasing accessibility to online platformsfor apparel and accessories will aid the expansion of the market. Moreover, the infrastructural development and revamping of existing retail stores can have an excellent effect on the market. The increasing collaboration of major brands can foster the healthy growth of the market. For instance, in March 2019, PT Matahari Department Store Tbk announced its collaboration with OVS, one of the leading Italian clothing company which also offers baby apparel. Through this collaboration, Matahari stores will become the exclusive distributor for OVS products in Indonesia expanding its product reach. Moreover, the growing number of working women, resulting in high purchasing power can spur demand for designer clothes for toddlers, which, in turn, will boost the growth of the market. Similarly, the trend for baby photoshoots is expected to fuel demand for new age stylish baby garments, in turn, promoting market growth.
Temporary Closure of Stores to Diminish Market during COVID-19
The outbreak of pandemic has led to closures of most retail stores of non-essential items, which, in turn, inhibited the growth of the market. For instance, as per Q2 2020 results of The Children's Place Inc., one of the leading children’s specialty apparel company, temporary store closures declined its overall sales revenue as The Children’s Place had to close down about 98 stores out of its 102 stores in the first half of fiscal 2020. However, the company witnessed a 118.2% increase in its digital sales in Q2 2020 owing to shifting consumer preference towards online buying. In addition, the lockdown restrictions imposed by governments can further restrict the growth of the market. Nonetheless, the increasing utilization of e-commerce will consequently uplift the growth of the market.
Regional Analysis:
Increasing Middle-class Population to Back Growth in Asia Pacific
The market in Asia Pacific is expected to hold the largest share owing to the increasing number of newborns in the region. China is expected to become one of the largest markets for baby apparel during the forecast period owing to the termination of a single child policy in China. For instance, as per the IND –TEXPO 2019 presentation of Cotton Council International, apparel spending is expected to grow from 2016 to 2030 by 116% in China and by 148% in India. In addition, the increasing middle-class population coupled with the better living standard will contribute to the growth of the market. Europe is expected to rise tremendously owing to the purchasing power of working women in the region.
Key Development:
July 2019: Marks and Spencer plc announced the launch of a new Dreamskin product under the Easy Dressing range for babies. Products are specially developed for sensitive baby skin.
The Report Lists the Key Companies in the Baby Apparel Market:
Carter's, Inc. (Atlanta, U.S.)The Children's Place, Inc. (Secaucus, U.S.)Industria de Diseño Textil, S.A (Inditex) (Arteixo, Spain)Hennes Mauritz AB (Stockholm, Sweden)Nike, Inc. (Beaverton, U.S.)Mothercare plc (Hemel Hempstead, U.K.)Cotton On Group (Geelong, Australia)Gianni Versace S.r.l. (Milano, Italy)Burberry (London, U.K.)Gerber Childrenswear LLC (Fremont, U.S.)
Browse In-depth Summary of This Research Insight@ https://www.fortunebusinessinsights.com/baby-apparel-market-102106
