Web Exclusive | February 2017
Global kidswear market buoyant
The global kidswear market is booming, and is becoming one of the most profitable businesses in the global market. According to statistics from Business of Fashion (BOF), the global kidswear market scooped total sales of $145.6 billion in 2015, up from $131.1 billion in 2010. As for the market size, the global kidswear market is expected to reach a value of $173.6 billion by the end of 2017, growing at a CAGR of more than 6 per cent by 2020, making it one of the fastest growing segments in the global fashion and apparel industry.
The kidswear market maintained steady growth during the period of global economic crisis, and was recalled as “the perfect text book case for a market pattern” by fashion intelligence company Fashionbi, due to its impregnability from economic dynamics and temporary fashion trends. BOF suggests that the growth of the kidswear market is mainly driven by demographic shifts in birth rate and the increasing purchase power of parents across the globe. Spending on children’s clothing is also increasing, although the amount spent annually can have a huge difference from household to household.
Currently, Europe and the U.S. are the largest consumers of children’s wear, due to the growth in double income earning families and a working population with increased purchasing power. Meanwhile, the kidswear market in Asia Pacific is expected to have a higher growth rate than the one in Europe and the US, thanks to its booming middle classes with increasing disposable income and the rapid expansion of international brands launching their childrenswear lines in the region.