Valued at over ₹1.45 lakh crore (2023 estimates), the segment is projected to grow at a CAGR of 8-10%, outpacing other apparel categories...
Once considered a niche category, kidswear has now evolved to reflect the evolving preferences of millennial parents who value functionality, quality, and style for their children. Driven by the rising disposable incomes of young families, the expansion of e-commerce, and a growing emphasis on curated, child-centric lifestyles, kidswear has rapidly become one of the fastest-expanding segments in the Indian apparel market.
Market Watch
According to Technopak analysis, in FY2023, the Indian kidswear market was valued at ₹41,769 crore, accounting for approximately 11% of the total apparel market. The segment has shown a strong and consistent growth trajectory, with an 11% year-on-year increase in FY2019. While the pandemic caused a significant setback in FY2021, resulting in a decline of over 27%, the market demonstrated resilience by bouncing back in FY2022 with an impressive 41.4% growth rate. By FY2023, it recorded a robust 28.9% growth, underscoring the sector's rapid rebound and continued expansion. Valued at over ₹1.45 lakh crore (2023 estimates), the segment is projected to grow at a compound annual growth rate (CAGR) of 8-10%, outpacing other apparel categories.
The total market size for kidswear, encompassing both boys' and girls' categories, witnessed substantial growth since FY2018. In FY2018, the market was valued at ₹365,832 crore (approximately USD 45.7 billion), and it is expected to reach ₹2,204,684 crore (USD 275.59 billion) by FY2032. This represents a remarkable increase in market size over the 14-year period, with a projected growth of over 500%.
A range of factors are driving this growth, including a shift towards premium and branded kidswear, the rise of online shopping, and increased fashion consciousness among parents.
This story is from the December 2024 edition of Business Of Fashion.
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This story is from the December 2024 edition of Business Of Fashion.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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