PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1494596
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1494596
Global children's footwear market is projected to witness a CAGR of 8.4% during the forecast period 2024-2031, growing from USD 41.36 billion in 2023 to USD 78.75 billion in 2031. Factors such as consumers' preference for functional and comfortable footwear for better foot health of children, innovation in design and technology such as cartoon-themed footwear, increasing children's participation in sports and physical activities, and evolving fashion trends are fueling the growth of the global children's footwear market.
Consumers are increasingly becoming aware of the importance of their children's foot health. It is facilitating them to gradually shift towards footwear that caters to the healthy foot development of their kids. As per the study conducted by The United States National Library of Medicine in July 2022, it was found that 51.2% of urban children had flatfoot when compared with 35% of rural children. Manufacturers are developing children's footwear with proper shapes that align with the natural shape of the children's feet. For instance, brands develop footwear with the proper arch and heel shape, promoting healthy feet.
Unique marketing tools by manufacturers are gaining traction and driving market growth. Brands are trying subscription-based models to gain sales from repeat customers. For instance, in September 2023, Atoms launched its first kid's shoe line on a subscription-based model. Each pair is priced at USD 65, but since the sizes of the kids often change, the customers can opt into a service that delivers shoes every three, four, or six months to their home at a 10% discount on the amount.
Consumers' Awareness of Proper Foot Development in Children Fueling the Market Growth
Increasing awareness of parents for proper foot development of their children is driving the growth of the global children's footwear market as consumers demand high-quality, well-designed, comfortable, and supportive footwear for their children. Well-designed children's footwear appeals to consumers as it promotes healthy foot growth and development.
Parents are becoming increasingly conscious while purchasing footwear for their kids, prioritizing options that offer the right balance of support, comfort, and flexibility. It is due to children's feet forming as they grow. Thus, a poorly fitting shoe may lead to long-term problems such as flat feet, misalignment, and improper posture. It is inducing the consumers to shift towards anatomically created footwear that caters to the children's developmental needs while their bones, muscles, and tendons are fully developed.
Thus, manufacturers are responding to the shift in consumers' preferences and developing children's footwear that caters to their functional needs. For instance, in August 2023, a kids footwear brand, jbrds, closed a USD 500,000 seed round valued at USD 5 million to launch its latest development, Stand2Walk shoes. jbrds created these anatomically designed footwear for kids to support the young wearer's lateral column and development of cuboid bone while stabilizing children's heel. The product features an injection-molded support cage promoting the healthy development of feet, a Velcro strap for easy slip-on, a sock-like upper for instant comfort, a suede outsole for extra grip to avoid tripping, and a 0-drop outsole for the development of healthy tendons to limit future foot and ankle problems.
Cartoon Themed Footwear to Foster Market Growth
Cartoon-inspired footwear has been significantly driving the growth of the global children's footwear market. Brands use trending cartoon characters in visually appealing designs, incorporating vibrant colors, unique patterns, and iconic imagery, which appeals to kids and creates a desire in them to wear such footwear. Moreover, the increasing access to digital media and global penetration of the internet have impacted the choices and preferences of young consumers, driving the global children's footwear market growth.
Cartoon-themed footwear enables children to express their personalities and creativity through fashion, fostering a sense of individuality. The widespread popularity of these collections has led to increased demand in the children's footwear market, facilitating opportunities for manufacturers to expand in the global marketplace. As consumer preferences continue to evolve, cartoon-inspired footwear remains a pivotal factor in shaping the trend of the global footwear market, fueling innovation and driving market growth.
For instance, in July 2022, Ground Up International Inc. launched its first collection of character sneakers at the Kids Foot Locker. The company collaborated with Disney, Universal Pictures, and Marvel, creating nine casual sneaker styles featuring Mickey Mouse, Minions, Disney Princess, Spider-Man, and Avengers.
Footwear With Lower Carbon Footprint to Support the Market Growth
The rising popularity of children's footwear with a lower carbon footprint is due to consumers' growing awareness of environmental issues and a desire for more sustainable options. Parents are becoming increasingly conscious of the environmental impacts of their purchase decisions, including their purchases for their children. Moreover, children are becoming increasingly aware of the growing environmental concerns through school education and the rise in social media, influencing their preferences and making them more inclined towards sustainable footwear.
Children's footwear brands prioritize sustainability by utilizing environmentally friendly materials, reducing the carbon footprint and carbon emissions throughout the production process, and implementing ethical manufacturing practices that align strongly with the preferences of eco-conscious consumers.
For instance, in September 2021, Crocs, Inc. introduced bio-based Croslite, the company's patented footwear material. Using the material, the company manufactures kids' footwear with the aim of lowering its carbon footprint. As part of its sustainability efforts and vision, the company is aiming to reduce the carbon footprint in each pair of Crocs shoes by 50% by the end of 2030.
Shoes and Sneakers to Dominate the Market
Shoes and Sneakers are dominating the children's footwear market for several reasons. They are preferred over other footwear options because they help children develop their feet properly. Moreover, they offer comfort, functionality, and style, making them a preferred choice among kids and parents.
Moreover, the increasing athleisure culture has further augmented the popularity of shoes and sneakers, as they are used by kids who are engaged in an active lifestyle and participate in sports and physical activities.
Furthermore, boys are majorly demanding of shoes and sneakers as they commonly have active lifestyles and often require durable and versatile athletic wear.
In April 2024, Hoka, a division of Deckers Brands, debuted its first-ever collection of children's footwear. Designed keeping the young athletes in mind, the Youth collection was made with kid-centric features. The collection features three Hoka icons, the Speedgoat 5 Youth, Clifton 9 Youth, and Ora Slide 3 Youth. It has been developed to empower children to effortlessly participate in athletic activities.
Asia-Pacific to Exhibit Exponential Growth
Asia-Pacific has demonstrated substantial growth in the historical and forecast periods due to several factors. These factors include rapid urbanization and industrialization taking place in Asian countries such as China, India, and Indonesia. It has contributed to introducing various types of children's footwear in the region, ranging from formal, athletic, and casual footwear which can be worn in different occasions. Demand of sustainable footwear is also increasing at a moderate pace in India market. For instance, in 2023, SANOSYZO PVT.LTD. (known as Aretto) was recognized by PETA India for its sustainable and vegan footwear range.
The high population of children in Asia-Pacific contributes to the expanding demand for children's footwear in the region. For instance, in 2023, as per the data provided by Unicef, in India, the population of children under 18 years was approx. 431 million, which is creating a surging demand for footwear in the region.
Moreover, other factors, such as globalization, expose parents to foreign brands and innovative products that appeal to them and drive the demand for products in global marketplaces. For instance, various global luxury brands, such as Steven Madden, Ltd. and Ralph Lauren Corporation, have established a global presence but also have a large client base from Asia-Pacific.
Future Market Scenario (2024 - 2031F)
The children's footwear market is anticipated to witness growth in the forecast period due to continuous innovation by the players. The key players are introducing products with unconventional features that appeal to the consumers and increase the product's functionality. For instance, in January 2023, Kizik debuted its first hands-free footwear for children's shoes at CES 2023. The company saw massive growth in 2022 following the launch of its first hands-free shoe for kids. These footwears cater to disabled children as they increase functionality and convenience. Thus, technologically advanced and innovative footwear is expected to surge the market's growth.
Key Players Landscape and Outlook
Key players in the market are helping growth by focusing on continuous product innovation, retail expansion, and strategic marketing. The manufacturers are actively expanding their product portfolio, increasing the base of the customers, and catering to their evolving needs.
The key players are introducing footwear which are convenient and ensure flexibility for kids. For instance, in January 2023, Nike, Inc. launched 23/7 shoes for kids under its brand, Jordan. The shoe has a step-in design, a secure lockdown system and forefoot flexibility. Large pull loops allow the wearer to open the collar wider, and the heel and toe of the shoe are wrapped with rubber for durability.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.