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The global children's wear mark is estimated to hit a value of US $173.6 billion by 2017. The global economic meltdown did not dampen spirits in the vibrant children's wear market, primarily driven by rising income levels, virtually limitless apparel varieties and keenly aware 'market savvy' kids.
Fashion trends, current adult wear, and demand for smart infant wear are major sales determinants. Furthermore, growing affluence in emerging markets, nuclear families, and the trend of emulating western culture will also ensure a rapid market growth.
The global market for infants & toddlers wear is a perfect case of a market totally unaffected by new trends in the fashion-oriented adult apparel industry. The segment, unfazed by economic dynamics, is set to rush ahead as the fastest growing market at a healthy CAGR of 4.2% through to 2017.
These days children are the new accessory, as once-snooty brands line up to please conservative-minded millennials while they use tiny garments to strengthen their brand power in regions such as Asia-Pacific. Last year, Burberry sold $91 million in clothing for children from newborn, including diaper bags covered in Burberry's beige check, to early teens, for an increase of 23% over the previous year.
Developed regions within Europe and North America are considered traditional leaders and account for a principal share of the global children's wear market. Asia-Pacific, spurred by rapidly escalating markets in India, China, Korea, Thailand, Taiwan and others is poised to deliver the fastest growth rate of 5.3% through to 2017.
The amount spent annually on children's clothing can vary dramatically from household to household, from under $25 to several thousand dollars. The average family spends $107.28 on children's clothing -- $123.79 for each girl, $90.77 for each boy. Spending varies dramatically depending on household income and age of the primary householders. Households with an income under $10,000 spend an average of $24.67 on boys' clothes and $49.75 on girls' clothes, while households that earn $70,000 or more spend an average of $167.04 on boys' clothes and $216.57 on girls' clothes.
For more information on the children's wear market, see the latest research: Children's Wear Market Report
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