The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including Baby Apparel Market.
It was estimated prior to this unanticipated outbreak Baby Apparel Market will reach CAGR of 5.4% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Baby Apparel Market Insights
Baby Apparel market is likely to grow with a healthy CAGR of 5.4% over the next five years. The key demand generators of the market are growing awareness among individuals regarding safety and comfort of the baby coupled with changing fashion trends, which is likely to play an important role in the growth of the market in the future.
Market Share Analysis
Baby Apparel Market Share: By Product Type
Based on the product type, the market is segmented as outerwear and innerwear. The outerwear segment is expected to remain dominant in the market during the forecast period, propelled by changing fashion trends for kids coupled with growing awareness and interest among parents about the latest fashion and their tendency to update accordingly.
Baby Apparel Market Share: By Distribution Channel Type
Based on the distribution channel type, the baby apparel market is segmented as online and offline. The offline segment is likely to remain the larger distribution channel of the market during the forecast period, propelled by traditional usage. However, the online channel is likely to grow at a faster rate during the forecast period.
Baby Apparel Market Share: By Region
In terms of region, North America is likely to maintain its supremacy in the market during the forecast period, mainly driven by the USA and Canada. The awareness among parents for health, safety, hygiene along with fashion was found the highest among individuals of the USA, especially in working class parents.