A new report from Data Bridge Market Research estimates that the baby clothing market is expected to grow to $291.76 billion by 2030.
In 2022, the sector was valued at $174.97 billion. This means that once the projected valuation is reached, it would exhibit a compound annual growth rate (CAGR) of 6.6 percent during the forecast period of 2023 to 2030.
The market research and advisory company examined various market insights and integrated analysis on prices, production, consumption and consumer behavior in the report to arrive at its conclusions.
It noted that, to varying degrees, the term “baby clothing” also encompasses related products such as nightwear, outerwear, underwear and accessories.
A significant part of the market shift is due to changing parenting behavior, according to Data Bridge. According to the study, parents value “comfortable baby clothes, design and style” in line with current fashion trends.
These consumer interior trends are expected to “significantly increase the scope of different baby clothing choices” in the years to come, according to the report, as parents focus more on buying items that offer comfort and enhance flexibility in their environment. This, in turn, will lead to an increase in spending on baby products.
The key players in the market analyzed by Data Bridge were US brands Carter’s, Nike, The Children’s Place, Hanesbrands, Ralph Lauren and Royal Apparel, Swedish H&M Group, India-based companies Daisy Apparel, Sudarshaan Impex and Bryden, and the German company Ermantextile.
This was also reflected in the results for the geographic areas that the report says dominate the market, with North America leading the way. In addition to the growing awareness of security in this area, the market players mentioned are contributing to the growth of the market.
Meanwhile, the Asia-Pacific region was named as the fastest developing region during the forecast period, owing to the higher number of births in the countries in this region.
This translated article originally appeared on FashionUnited.uk.