The global kids footwear market size is expected to reach USD 59.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.2% over the forecast period. Growing middle class population, along with rise in the disposable income, is anticipated to boost the growth of the market over the forecast period. The market is driven by use of the trendy and attractive lifestyle footwear, especially for children. In addition, use of the conventional cotton products in manufacturing baby footwear to provide comfort has been driving the sales of the products in the market.
Various design stores, fashion stores, and mass merchandisers have contributed to the sales and offers of the footwear for toddlers in the market. Moreover, the extra space provided for the children wear in the offline and online segments across the industry is anticipated to contribute to the growth over the forecast period. In addition, the children wear section in the shops involve up to 17% of the space and around 16% of the general deals, thereby contributing to the sales in the market.
Kids footwear products in North America are anticipated to ascend due to the rise in the sales of retail child products in the clothing and apparel market. In U.S., the retail sales in apparel stores surpass USD 15 billion on a monthly basis. Moreover, rise in the number of footwear innovations for the women section in the market has likewise been added to the girls wear due to the similar pattern and trending style.
Rising interest in the apparel and footwear products among children due to trendy lifestyle, product innovations, and high disposable income will drive the market in the coming years. Organizations are expanding their geographical reach so as to increase the sales of their products in the market.
The market is recognized by few initiatives such as limited extension, mergers and acquisitions, and online sales and development. Key players in the business include Nike, Inc.; The Children’s Place; Crocs Retail, LLC; Stride Rite; New Balance; Converse; Puma SE; ASICS America Corporation; SKECHERS USA, Inc.; and Adidas AG.
Click the link below:
Further key findings from the report suggest:
- In terms of revenue, casual footwear accounted for the largest share of 46.0% in the year 2018
- By end user, the boys segment dominated the global market with an overall share of 47.2% in the year 2018
- North America dominated the global kids footwear market in 2018, accounting for 34.4% share of the overall revenue. This trend is projected to continue over the next few years
- The market in Asia Pacific is anticipated to witness significant growth due to increasing disposable income in countries such as India, South Korea, China, and Japan
- The industry is highly competitive in nature with the main players including Nike, Inc.; The Children’s Place; Crocs Retail, LLC; Stride Rite; New Balance; Converse; and Puma SE
- Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovation to estimate existing and future demand patterns from upcoming product segments.