Childrens Footwear Market size to record USD 20.48 billion growth from 2024-2028, Increase in demand for customized footwear is one of the key market trends, Technavio

NEW YORK, May 9, 2024 /PRNewswire/ — The global childrens footwear market size is estimated to grow by USD 20.48 billion from 2024 to 2028, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of almost 6.02% during the forecast period.

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Key Trends Fueling Growth

• Increase in demand for customized footwear: 
• Customizing children’s footwear is becoming more popular, especially in developed regions like the Americas and Europe, as well as in emerging countries like China and India. Premium brands are offering customization options using materials like gold, silver, and diamonds. Leading vendors like Converse by Nike allow customers to personalize shoes by choosing colors, designs, and adding custom text.
• This trend is expected to boost revenues for children’s footwear manufacturers and drive global market growth. Customers can personalize shoes with different designs, logos, colors, buckles, and embroidery, catering to individual preferences. This customization trend is expected to continue growing, attracting new customers and driving sales in the forecast period.

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Major Challenges:

• Presence of counterfeit products 
• The rise in demand for children’s fashion products, like footwear, is driving a surge in counterfeit goods, particularly in developing areas. These knockoffs, often made from low-quality materials harmful to children’s skin, are spreading via e-commerce, expanding their reach. Customers struggle to tell real from fake due to similar appearances. The allure of cheap counterfeits hurts authentic vendors’ sales and reputation, forcing them to lower prices, cutting profits.
• Promotional efforts fight back but eat into profits. Counterfeits disrupt sales volume and pricing, causing inventory issues for global vendors. Counterfeiters benefit from lower production and transport costs, making their goods cheaper. Established brands target markets like India and China, where counterfeits thrive due to low production costs, adding to price pressures. These challenges will hamper market growth.

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Segmentation Overview

1. Product

• 1.1 Non-athletic footwear
• 1.2 Athletic footwear market

Distribution Channel

Geography

• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Non-athletic footwear- The non-athletic footwear segment is set for considerable growth ahead. This sector covers casual, fashion, and formal/work shoes. Key drivers include increasing fashion awareness among consumers and the emergence of stylish footwear options. Valued at USD 37.33 billion in 2018, this segment leads the market. The rise of private-label brands offering high-quality products at affordable prices is driving demand. Furthermore, the need for multiple pairs of non-athletic footwear, especially among Generation Z and millennials, for various occasions fuels market growth. With such factors at play, the non-athletic footwear segment is expected to expand significantly, boosting overall market performance in the forecast period.

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Analyst Review

The children’s footwear market offers a diverse range of options to cater to various needs and preferences. From luxury branded shoes to retro-inspired looks, there’s something for every occasion. Traditional footwear like mojaris and rain boots coexist with trendy sneakers and casual shoes in convenient stores and specialized footwear outlets. Parents seek sturdy materials like rubber and foam for durability, especially for babies and toddlers.

Cotton, polyester, and wool textiles ensure comfort, while synthetic leather adds a touch of style. Favorite cartoon characters adorn smart footwear with light and sound features, attracting young kids. Designed to match different occasions, from school to playdates, these shoes are both functional and fashionable. Social media showcases child artists modeling branded products, reflecting a blend of Western lifestyle and cultural influences. Whether it’s fancy boots or practical flip-flops, the children’s footwear market offers a plethora of choices to suit every taste and need.

Market Overview

The children’s footwear market is all about comfort and style, offering a range of options to suit every need. From luxury branded apparel to casual flip flops, there’s something for everyone. Parents love matching footwear for their little ones, whether it’s a retro look or their favorite cartoon character. With sturdy materials and premium products, baby footwear is designed to last.

International customers can easily shop online through e-commerce websites, making it convenient to find the perfect pair. Promotional methods help attract attention to the latest designs, ensuring that children step out in attractive and comfortable footwear. Whether it’s for playtime or a special occasion, the children’s footwear industry has it covered.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation

• Product 
• Non-athletic Footwear
• Athletic Footwear Market
• Distribution Channel
• Geography 
• APAC
• North America
• Europe
• South America
• Middle East And Africa

 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio