Indian Kids Wear Market to reach USD22.53 bn by 2026: Report
14 January 2021: The Indian Kids Wear Market was valued USD 16.62 billion in 2020 and is forecast to grow at CAGR of 5.89% through 2026 to reach USD 22.53 billion by 2026, according to ResearchAndMarkets’ recent study.
Increasing retail expansion and internet retailing is also contributing to the growth of Kids Wear market in the country. People are now more aware of international brands due to ads on television or internet, and consequently, are purchasing kids apparels offering latest fashion trends and designs. Some of the leading players operating in the Indian Kids Wear Market are: Future Lifestyle Fashions, Shoppers Stop, Aditya Birla Fashion and Retail, Arvind Fashions (Tommy Hilfiger), Gini & Jony, Benetton India, Lilliput Kids Wear, Catmoss Retail, Indian Clothing League, Tiny Girl Clothing etc. Multi brand retail outlets accounted for the 1/3rd share in FY2020 and the trend is likely to continue until FY2026.
Nowadays, parents have started spending more on kids and want their kids to wear latest fashion branded apparel, and this trend is more prevalent in Tier I and II cities. The market researchers calculated the market size for the Indian Kids Wear Market by using a bottom-up approach, wherein manufacturers’ value data for different type of Kids Wear was recorded as well as forecast for the future years was made. The analyst sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size.