The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreApr 2019
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Asia Pacific is the largest and fastest growing region for childrenswear in the world. The large population and a growing middle class underpins good demand for childrenswear in the region. Also, rising income levels, urbanisation and adoption of Western wear have led an increase in per capita spending. China and India are key markets driving growth in the region, and these two Asian powerhouses will continue to sustain growth and boost the strong growth potential of the region.
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Asia Pacific is the largest and fastest growing regions for childrenswear in the world. The large population, along with the growing middle class, help sustain growth, while rising income levels, rapid urbanisation and the adoption of Western styles also boost per capita spending on childrenswear.
China is by far the region’s largest childrenswear market, and posted significant growth over 2013-2018. While the country relaxed its “one child” policy, the birth rate remained low. Instead, the increase in per capita spending contributed to the growth of childrenswear sales in the country, as Chinese middle-class parents are more sophisticated and willing to trade up to high-quality and designer childrenswear.
India also experiences strong growth in childrenswear. On the back of income growth, a large youth population and continuing urbanisation, Indian parents are trading up and/or buying better brands for their children.
Childrenswear in Asia Pacific remains fragmented. While mature markets such as Japan, Hong Kong, Taiwan and Singapore saw fairly large shares held by top-ranked companies, the other smaller Asian countries such as Vietnam, India, Indonesia and the Philippines see more mixed penetration of both branded and unbranded companies.
While store-based retailing such as apparel and footwear specialist retailers and department stores remain popular destinations for consumers to purchase childrenswear, internet retailing saw remarkable growth over 2013-2018.
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