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The childrens footwear market size is forecast to increase by USD 20,483.93 million, at a CAGR of 6.02% between 2023 and 2028
The growth of the market depends on several factors such as the product premiumization led by design and material innovation, the rise in demand for children's designer footwear and the decline in infant mortality rate. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the decline in the infant mortality rate. The decrease in the global infant mortality rates, mostly caused by the improvements in healthcare facilities, has fueled the global market. In addition, footwear protects children from injuries and infections, thereby minimizing the chances of infectious diseases.
Moreover, according to the data from The World Bank Group, the global infant mortality rate dropped from 37 deaths per 1,000 live births in 2018 to 28 deaths per 1,000 live births in 2018. In addition, the global market has also registered significant growth in Asia, Latin America, South Africa, the Middle East, and North Africa, where infant mortality rates are declining at a rapid rate. Therefore, the decline in infant mortality rates can substantially increase the infant population which is positively impacting the market. Therefore, it is expected to drive the market during the forecast period.
A key factor shaping the market growth is the introduction of smart shoes. The global market has witnessed an increase in the demand for smart shoes, since the introduction of smart shoes five years ago. In addition, this is mostly due to factors including the increasing adoption of smart products and accessories among children, especially in developed countries, increasing participation in sports, growing concerns about fitness from an early age, and engagement in fitness and sports activities.
Moreover, smart shoes help users based on the latter's manner of performing physical activities. In addition, smart shoes are built to offer comfort and enhance the performance of users. Hence, the increasing use of smart shoes among children. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market during the forecast period.
Stringent government regulations for procuring raw materials like leather to produce high-quality childrens footwear are one of the key challenges hindering growth. There is a significant increase in the demand for leather as a premium raw material in the childrens footwear segment. However, there are several regulations associated with the leath industry across the world. For example, the leather industry in Europe, specifically in Germany, is highly regulated by various government bodies and associations.
Moreover, players operating in the tanning industry need to follow various regulations about the production of leather, waste disposal, use of chemicals, environmental protection, and recycling. In addition, waste reduction and environmental protection measures account for around 5% of the total operational costs for manufacturers. As a result, this regulation impacted manufacturers and suppliers of products that are made of leather such as apparel, bags, footwear, and belts. Hence, such factors are negatively impacting. Therefore, it is expected to hinder the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their expansion strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence.
Adidas AG: The company offers childrens footwear such as kids football boots suitable for ages 4-16.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 companies, including:
Qualitative and quantitative market growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The non-athletic footwear segment is estimated to witness significant growth during the forecast period. This segment comprises the casual, fashion, and formal/work footwear categories. Some of the main factors that are contributing to this segment include the growing consumer fashion consciousness and the rising introduction of trendy shoes for the non-athletic footwear segment.
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The non-athletic footwear segment was the largest segment and was valued at USD 37,339.58 million in 2018. Moreover, the demand for private-label brands is increasing due to the availability of top-quality product offerings at low prices. In addition, non-athletic footwear witnesses high demand as many children customary multiple pairs of non-athletic footwear to be worn on different occasions and for various purposes. Even though this trend is observed among all age groups, it is comparatively high among Generation Z and millennials. Hence, such factors are expected to fuel this segment which in turn will drive the market during the forecast period.
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APAC is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main factors that are significantly contributing to the market in APAC are the growing awareness about the benefits of using childrens footwear and products and the introduction and growing adoption of premium childrens footwear.
In addition, rising disposable income, rising birth rate, and growing urbanization will further fuel the demand for childrens footwear in APAC. Some of the key contributors include China, Japan, and India. One of the main markets is China due to the increased spending by Chinese consumers on fashion products. Hence, such factors are driving the market growth in APAC during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides a market research and growth analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028.
The Market is characterized by continuous product innovations and a focus on branded footwear. Physical growth and comfort are key considerations, driving manufacturers to create innovative designs. Marketing and promotional activities, especially through social media, play a crucial role in brand visibility and customer engagement. The market is closely tied to the apparel industry, often featuring collaborations with child artists and celebrities like Fearne Cotton. Brands like Boots Mini Club offer a range of products, including those with Japanese dragon graphics. Segmentation by product type includes casual and sports segments, catering to different consumer preferences and fitness concerns. End-user segments include boys and girls, each with unique preferences. Smart footwear is an emerging trend, appealing to tech-savvy parents. The market's evolution is analyzed through Porter’s Analysis and Value Chain Analysis, providing insights into competitive forces and market dynamics. Pricing strategies are crucial, with companies like Simply Feet focusing on quality and affordability. Overall, the market is driven by a combination of fashion trends, comfort, and parental preferences.
British television celebrity, known for his charismatic presence, ventures into the children's footwear market. With a keen eye on end-user insights, the celebrity targets diverse segments: casual, sports, and gender-specific. Recognizing the distinct preferences in the boy's and girl's end-user segments, campaigns feature beloved cartoon characters, capturing the imagination of young consumers. Market evolution prompts a rigorous pricing analysis, ensuring competitiveness in the bustling Children Footwear Market. Company profiles showcase innovation and adaptability, vital in navigating the dynamic landscape. As the celebrity strides confidently into this realm, the spotlight shifts to the transatlantic journey, eyeing potential in the U.S. kids footwear market.
Childrens Footwear Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.02% |
Market growth 2024-2028 |
USD 20,483.93 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.97 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 36% |
Key countries |
US, China, UK, France, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adidas AG, ASICS Corp., Bata Brands Sarl, Bobux International Ltd., Burberry Group Plc, C and J Clark International Ltd., Columbia Sportswear Co., Crocs Inc., Dolce and Gabbana SRL, Falc Spa, FILA Holdings Corp., Geox S.p.A, JD Sports Fashion Plc, KEEN Inc., New Balance Athletics Inc., Nike Inc., PUMA SE, Skechers USA Inc., Sports Direct International plc, and Wolverine World Wide Inc. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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