The global kids footwear market size is estimated to touch USD 59.2 billion by 2025, according to a new report by Million Insights. The market is projected to ascend at a CAGR of 8.2% from 2019 to 2025. Changing fashion trends influenced by social media and rising disposable income of the middle class in emerging countries are driving the market demand. Further, the use of cotton products in baby footwear is attracting parents to invest in comfort footwear.
Various fashion stores, mass merchandisers and design stores are becoming increasingly popular end-users, thereby, boosting the growth of the market. Additionally, online sales channels are offering a variety of products along with various discounts and offers, which, in turn, drive the sales of these products.
The growing investment by parents on children wear in North America is anticipated to bolster the regional demand. In the U.S alone, retail sales of apparel account for over USD 15 billion in a month. Further, growing product innovation in girls segment led to a rise in demand for girls’ footwear, thereby, positively affecting the market growth.
Buoyed by growing demand, key players are emphasizing on expanding their geographical presence. These players are introducing innovative footwear products to cater to the growing demand. Additionally, children’s footwear market is highly influenced by ongoing fashion trends.
Key players in the market are The Children's Place, Stride Rite, Converse, ASICS America Corporation, Adidas AG, SKECHERS USA, Inc. and Nike, Inc. among others. Merger & acquisition and growing sales through online channels are key trends among manufactures.
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Further key findings from the report suggest:
• Casual footwear products are the largest segment in terms of revenue with over 46.0% of the kids footwear market share.
• Among end-users, boys segment held 47.2% of the market share in 2018.
• In 2018, North America was the largest revenue holders with 34.4% of the market share.
• Asia Pacific is anticipated to register a considerable growth rate owing to growing demand from countries such as India, Japan and China.
• Product innovation and capacity expansion are the key strategies adopted by manufacturers.
Million Insights has segmented the global kids footwear market on the basis of product, end user, and region:
Kids Footwear Product Outlook (Revenue, USD Billion, 2015 - 2025)
Kids Footwear End User Outlook (Revenue, USD Billion, 2015 - 2025)
Kids Footwear Regional Outlook (Revenue, USD Billion, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa