PUBLISHER: Allied Market Research | PRODUCT CODE: 1344463
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344463
According to a new report published by Allied Market Research, titled, "Baby Sleepwear Market," The baby sleepwear market was valued at $39.3 billion in 2022, and is estimated to reach $60.5 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.
Baby sleepwear are clothes that babies wear while sleeping to keep them comfortable and to prevent hassles and risks that include choking and getting entangled in garments. Baby sleepwear is often made of textiles such as cotton, linen, and bamboo to provide the highest convenience and material breathability for babies.
Globally, people's discretionary income is increasing; according to the World Bank, the yearly GDP of Eastern Asia-Pacific increased by 7.3% in 2021, providing a significant boost to the region's economy and producing higher paying jobs. As a result, spending has soared, especially for branded and luxury goods, thus encouraging the premiumization of many types of items. As a consequence of this trend, fresh market entrants are aiming to premiumize their items. This is especially true in the infant clothes and goods industry, where parents demand only the best for their children. This premiumization impacts baby sleepwear products, thus boosting the growth of the industry.
In terms of population growth, the global fertility rate has been described as the average number of infants borne by women globally until the end of their reproductive life cycles. According to the World Economic Forum, global fertility rates have been declining in recent decades, with the fertility rate plummeting by half in the last 70 years. Increased customer emphasis on education and career as well as rise in worldwide costs for real estate, travel, medical care, and other basic necessities are the primary causes of reduction in reproduction rates. These variables deter individuals in the younger millennial and generation Z groups from having children, thus lowering the global number of newborns. The drop in the total number of babies born has an effect on the market for baby well-being and health products, as consumer interest in such items falls drastically. This includes a drop in buyer demand for baby sleepwear, which will result in market barriers to growth.
With the growing popularity of the internet around the world, the number of people who use numerous social networking platforms as well as educational and general browsing websites has increased dramatically. Children as young as 13 are among the rapidly growing user base, with numerous new parents also avid users of social media sites that include TikTok, Instagram, Facebook, and others. Taking these trends into account, market's leading firms create campaigns geared at advertising their products through different digital and social media platforms. Market participants use social networking websites and digital advertising to raise awareness of their product offerings among potential purchasers through social media platforms. Furthermore, numerous market players are forming collaborations involving renowned social media personalities or influencers on social media with kids and their families to develop customized campaigns and specialized baby sleepwear goods. This would aid in attracting the products' committed fan base linked to these social media stars, leading in the expansion of the baby sleepwear industry.
The baby sleepwear market is segmented into type, material, price point, distribution channel, and region. By type, the market is classified into rompers and pajamas. Depending on material, it is categorized into cotton, linen, bamboo, and others. By price point, it is divided across mass and premium. According to distribution channel, it is fragmented into supermarkets & hypermarkets, specialty stores, brand stores, online channels, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Netherlands, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, United Arab Emirates, South Africa, and rest of LAMEA).
Some of the major players analyzed in this report are: The Children's Place, Inc., Under Armour, Inc., Carter's, Inc., H&M Group, Benetton Group S.R.L., Nike Inc., Industria de Diseno Textil, S.A., The Gap, Inc., Limited, Mothercare Plc, and PVH Corp.