Global Baby Apparel Market Is Expected To Grow At A Rate Of 4.2% During The Projected Period 2023-2027
Baby Apparel MarketAccording to Fortune Business Insights, 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, 2020-2027." The market size stood at USD 62.04 billion in 2019.
According to Fortune Business Insights, 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, 2020-2027." The market size stood at USD 62.04 billion in 2019.Get a Sample PDF Brochure:Fortune Business Insights™ lists out all the baby apparel market companies that are presently striving to reduce the impact of Covid-19 pandemic on the 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.)The report on the baby apparel market contains:Exceptional insights into the marketMeticulous scrutiny of the segmentsCurrent developments and driversFundamental information about key playersDominant regions and playersCOVID-19 pandemic impactTemporary Closure of Stores to Diminish Market During COVID-19The 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.Convenience of E-commerce to Boost Product DemandThe increasing accessibility to online platforms for 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.DRIVING FACTORSSurging Birthrate to Propel Product DemandDevelopments in medical sciences have resulted in reduced infant mortality rates, which, in turn, have strongly supported product consumption. For instance, as per the report, 'World Mortality 2019' of The Department of Economic and Social Affairs of the United Nations Secretariat, the infant mortality rate has decreased by 54% from 1994 to 2019, which was valued at about 28 deaths under one year of age per 1,000 live births in 2019 from about 61 deaths in 1994.Similarly, techniques such as in-vitro fertilization as well as surrogacy have helped the parents overcome concerns of infertility and thereby have increased the number of newborns, in turn, positively impacting the market growth. Besides, infants up to the age of 24 months usually outgrow their sizes rapidly as compared to teenagers that in turn, leads to frequent purchases of new clothes.Greater Access to Fashion Products to Support Market GrowthIncreasing access to apparel and accessories coupled with infrastructural development of retail stores in emerging economies will accelerate the market expansion. For instance, in March 2019, PT Matahari Department Store Tbk announced its collaboration with OVS, one of the leading Italian clothing companies which also offers baby apparel. Through this collaboration, Matahari stores will become the exclusive distributor for OVS products in Indonesia, expanding its product reach.Besides, the increasing number of working women has increased their purchasing power, which has resulted in greater demand for designer clothes for toddlers. Social media challenges such as matching mother and baby clothing along with the increasing trend for baby photoshoots has further increased demand for new age stylish baby garments.SEGMENTATIONBy Type AnalysisBy Material AnalysisBy End-user AnalysisBoys Segment to Hold Major Share due to Presence of Greater Number Newborn BoysBased on the end-user, the market is segmented into, boys and girls. The boys segment is expected to hold a major market share as the number of boys born is greater than that of newborn girls across the globe, thereby exhibiting a greater need for baby boy's clothes. For instance, as per the data released by United Nations Statistics Division under 'World Population Prospects: The 2019 Revision', the sex ratio at birth is expected to be 1.06 male births per female birth worldwide wherein it is expected to be 1.09 male births per female birth in Asia from 2020 to 2025.However, the wide variety available in baby girl's apparel such as one-piece dresses, skirts & skorts, as well as divider skirts among others is likely to grow the girls segment rapidly in the forecast period.Regional Analysis:Increasing Middle-class Population to Back Growth in Asia PacificThe 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.Inquire Before Buying:Frequently Asked Questions (FAQs):1. How much is the baby apparel market worth?Answer: Fortune Business Insights says that the global market size was USD 62.04 billion in 2019 and is projected to reach USD 82.54 billion by 2027.2. What was the value of the market in Asia Pacific in 2019?Answer: In 2019, the Asia Pacific market stood at USD 23.27 billion.3. At what CAGR is the market projected to grow in the forecast period (2020-2027)?Answer: Growing at a CAGR of 4.2%, the market will exhibit a steady growth rate during the forecast period (2020-2027).4. What is the leading segment in the market?Answer: Top wear is expected to be the leading segment in this market during the forecast period5. What are the key factors driving the market?Answer: Increasing the number of births and increased access to baby products are major factors driving the growth of the market.Get your Customized Research Report:Contact Us:Fortune Business Insights™ Pvt. Ltd.9th Floor, Icon Tower,Baner - Mahalunge Road,Baner, Pune-411045, Maharashtra, India.Phone:US: +1 424 253 0390UK: +44 2071 939123APAC: +91 744 740 1245Email: [email protected] Business Insights™Linkedin | Twitter | BlogsAbout Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. 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