A new report by Data Bridge Market Research has estimated that the baby apparel market is expected to reach 291.76 billion dollars by 2030.
In 2022, the sector was valued at 174.97 billion dollars, meaning if the predicted valuation is hit, it would register a compound annual growth rate (CAGR) of 6.6 percent during the forecast period of 2023 to 2030.
In the report, the analytics firm looked into various market insights and integrated analyses on pricing, production, consumption and consumer behaviour to come to its conclusions.
It noted that, when referring to baby apparel, it covered varying degrees of related products, such as nightwear, outerwear, innerwear and accessories.
A significant part of the market’s shift, according to Data Bridge, is that of changing parental behaviours. According to the research, parents are zoning in on “convenient baby dressing, design and style” in line with up-to-date fashion trends.
The report added that these consumer trends are expected to “significantly increase the scope of several baby apparel variants in coming years” as parents become more focused on purchasing items that offer comfort and improve flexibility to their surroundings. This, in turn, will increase expenditure in baby products.
Data Bridge’s key players in the market were American brands Carter’s, Nike, The Children’s Place, Hanesbrands, Ralph Lauren and Royal Apparel, Sweden’s H&M Group, India-based Daisy Apparel, Sudarshaan Impex and Bryden and Germany’s Ermantextile.
This was mirrored in the findings for geographical areas that the report stated to be dominating the market, for which North America came out on top. Next to the growing awareness for safety in the region, the aforementioned market players are raising the market’s growth rate.
Meanwhile, Asia-Pacific was cited to be the fastest developing region during the forecast period, due to the higher number of birth rates in countries in the area.