Baby fashion accessories: Key market research findings
· Growth of organized retail drives market growth
· Europe dominates the market geographically
· Key vendors – Carter’s, Gap, Gerber Childrenswear, Ralph Lauren, and The Children’s Place
Technavio’s market research analysts estimate the global baby fashion accessories market to grow at a CAGR of more than 5% between 2016 and 2020. Increasing organized retail in developing countries is the primary driver for growth in this market. Large organized retail stores are stocking many baby products brands and a variety of baby fashion accessories under one roof to provide more options to consumers. The importance of organized retailers carrying branded baby fashion accessories and other baby products is growing with the increase in brand consciousness among consumers. The penetration of organized retailing is also enabling consumers to seek information on various brands, compare prices, quality, and design, and then make a purchase decision. During 2015, Europe accounted for around 35% of the overall market share to dominate the global baby fashion accessories market. The high growth rate of the market can be attributed to a comparatively higher gross national income (GNI) in developed economies of the region, demand for international brands and designs influenced by the increasing tourism, and the growing demand for international brands and designs.
The new market research report from Technavio presents a breakdown and analysis of the baby fashion accessories segments based on products.
“Innovative designs and patterns are the latest trend in the global baby fashion accessories market. Manufacturers are incorporating trendy patterns and are using licensed movie and cartoon content on baby fashion products. Need-based and functional accessories like bibs, socks, mittens, and hairbands are also being launched in stylish prints, colors, and designs. A substantial portion of these designs and patterns in baby fashion accessories are based on adult fashion styles and designs,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
The baby clothing accessories were the dominant shareholder in the global baby fashion accessories market by accounting for more than 22% of the market share. Product innovation is a key factor considered by retailers to set competitive advantage. There is also a rising demand for multifunctional baby clothing accessories such as babyGap x Aden + Anais reversible printed bib amongst consumers across the globe. Vendors such as Gap, Ralph Lauren, and Carter’s are launching product lines for clothing accessories specifically for babies.
The key vendors in the market include Carter’s, Gap, Gerber Childrenswear, Ralph Lauren, and The Children’s Place. The global baby fashion accessories market is highly competitive due to the presence of several international and private players. With the rising competition, manufacturers are bringing in new styles and patterns in the market to meet the buying trends among consumers. The competition in the market is expected to intensify owing to ongoing price wars and mergers and acquisitions.
A more detailed analysis is available in the Technavio report, Global Baby Fashion Accessories Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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