Research Support Specialist, USA
The global children’s clothing accessories and other clothes market size is expected to reach USD 35.17 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 4.1% from 2021 to 2028. The market growth can be attributed to the increasing demand for children’s clothing accessories from developing economies.
The market is one of the supreme profitable segments in the apparel industry. In the past few years, parents have shown an upward inclination towards branded apparel over local brands and a desire to have various clothes for their kids at reasonable pricing. Furthermore, a rise in child population density index and an upsurge in disposable income are some of the crucial factors fueling the market growth. Growing innovation, product customization, and affordable pricing are propelling the market growth globally.
With the ever-changing parents’ likings, coupled with the rapidly changing fashion scenario, the market is focusing on product innovations. Furthermore, manufacturers are bank rolling comprehensively in the development of trendy apparel for kids. The prime aim of manufacturers is to provide a diverse variety of accessories and clothing to pamper kids.
The growing investment by market players to introduce the latest fashion trends and new sustainable products is further projected to boost the industry sales. However, sustainability issues such as extreme pollution, energy consumption, and wastage are leading to the implementation of stringent government regulations on this industry, which may hamper the growth of the market.
The apparel market witnessed a substantial decline owing to the closure of retailing sectors and factories triggered by the COVID-19 pandemic. Furthermore, the termination of public events affected the growth of this market. However, the online selling channel became the solitary support to the market growth.
The shawls and scarves segment accounted for the largest revenue share of more than 35.0% in 2020. This growth is credited to the increasing demand for these products in cooler regions. Though, unexpected changes in weather, coupled with depreciating environmental conditions, have augmented the sales of shawls and scarves across the world. All these factors are anticipated to drive the segment in the coming years.
The online segment will register the fastest CAGR of 4.7% from 2021 to 2028. This can be attributed to the growing popularity and usage of e-commerce platforms. Major manufacturers are partnering with online retailers intending to reach out to new buyers. Moreover, an upsurge in sales of children’s clothing accessories and other clothes is mainly through company-owned websites and other e-commerce platforms, such as Amazon and Walmart, which, in turn, is projected to propel the growth of the online distribution channel segment during the forecast period.
Asia Pacific led the global market with a revenue share of over 35.0% in 2020. This growth is due to the rise in the child population, especially in emerging countries like China and India. Rising household incomes and robust economic growth are anticipated to escalate consumer spending on children’s clothing accessories. Furthermore, there has been significant demand for sustainable clothing in this region. This, in turn, will drive the regional market over the forecast period.
The report “Children’s Clothing Accessories And Other Clothes Market Size, Share & Trends Analysis Report By Type (Shawls & Scarves, Gloves, Hats & Caps, Neckwear), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global children’s clothing accessories and other clothes market on the basis of type, distribution channel, and region:
List of Key Players of Children’s Clothing Accessories & Other Clothes Market