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Kids Footwear Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global kids’ footwear market was valued at USD 41.4 billion in 2022 and is projected to expand at a CAGR of 3.9% from 2023 to 2030. Growing awareness of the benefits of good-quality footwear, such as protection and comfort, is expected to drive the growth of the market in the near future. Additionally, increasing disposable income and rapid urbanization have resulted in a surge in purchasing power and the willingness to spend on premium and designer shoes.
Furthermore, the rising trend of athleisure and streetwear fashion among kids is driving the sales of sneakers and canvas shoes. For example, in April 2021, Skechers USA launched its new collection of kids’ shoes, designed to provide comfort, style, and protection. Furthermore, the growing demand for fashionable and feature-rich shoes is driving the companies to launch new products. For instance, in May 2021, Reebok launched a new range of kids’ shoes for running, training, and casual activities.
The growing importance of e-commerce is expected to fuel the demand for kids’ footwear over the forecast period. Easy access to a variety of products and easy comparison of prices are some of the factors driving the growth of the online segment. Furthermore, the rise in the number of promotional activities such as discounts and free shipping is expected to drive the market. For instance, in April 2021, Clarks launched a new online store, offering free delivery and returns on orders over a certain amount.
Furthermore, the increasing adoption of sustainability practices by the manufacturers is expected to drive the demand for kids’ footwear. For instance, in June 2021, Nike launched its ‘Move to Zero’ campaign, which aims to reduce the environmental impact of its products by 2030. The company has pledged to create more sustainable products and shift to renewable energy sources. Moreover, the rising trend of customization is further leading to a surge in demand for personalized shoes. For instance, in December 2021, Crocs introduced ‘MyCrocs’, a platform that allows customers to customize their footwear with text, pictures, and artwork.
Product Insights
The casual footwear segment held the largest market share in 2020. Growing demand for kids’ casual shoes, such as sneakers and slip-ons, are among the key factors driving the segment’s growth. According to a survey published by the NPD Group, Inc., in December 2020, 50% of children aged 3–12 who participated in the survey were most likely to purchase casual shoes. This is attributed to the comfort and style associated with casual footwear.
The boots segment is anticipated to be the fastest-growing segment during the forecast period. Increasing demand for winter boots, including snow boots, rain boots, and winter-style boots, is driving the growth of the segment. Furthermore, rising fashion trends, growing awareness about the availability of fashionable boots, and rising concerns for the protection of the feet in extreme weather conditions are some of the other factors driving the segment’s growth.
Distribution Channel Insights
The supermarkets and hypermarkets segment held the largest market share of over 33.6% in 2022. The growth of this segment is mainly attributed to the rising popularity of supermarkets & hypermarkets as a primary source of purchasing kids’ footwear. Supermarkets & hypermarkets offer a vast range of kids’ footwear and a wide variety of brand choices, making it easier for parents to compare prices and select the right pair of shoes for their children.
The online segment is expected to register the highest CAGR of 12.2% over the forecast period. The increasing trend of online shopping among kids and parents has significantly contributed to the growth of the segment. The availability of discounts and offers on kids’ footwear and the increasing penetration of e-commerce platforms have been driving the sales of kids’ footwear online. Several companies have been launching online websites and apps to increase the visibility of their brands and expand their customer base. For instance, in November 2020, Lakhani Footwear launched its online store, Lakhani Footwear eStore, offering customers with a host of benefits such as easy returns, free shipping and cash on delivery.
Type Insights
The casual segment accounted for the largest revenue share of 55.2% in the year 2022. The availability of different designs, colors, and styles for casual footwear for kids is driving the demand for this segment. Furthermore, the increasing popularity of sports activities among children is propelling the demand for casual shoes with advanced features, such as breathability, anti-skid soles, and shock absorbing abilities. For instance, in April 2021, Skechers, a U.S. based designer, manufacturer, and marketer of lifestyle and performance footwear, launched Kids’ Skechers GOMeb Razor 3 running shoes with unique features such as lightweight, breathable, and shock-absorbent capabilities.
The athletic segment is expected to be the fastest-growing segment over the forecast period. The increasing awareness about the importance of physical activity among kids and their parents is driving the demand for athletic footwear. For instance, in April 2021, New Balance launched its Kids’ Fresh Foam Fast collection featuring running shoes that are lightweight, comfortable, and provide stability.
Regional Insights
Asia Pacific dominated the market for kids footwear and accounted for the largest revenue share of over 37.9% in 2022. This is due to the rising population of children in the region and the increased purchasing power of parents. Furthermore, increasing fashion consciousness among children and their parents is driving the demand for stylish and comfortable kids footwear in the region. For instance, in December 2021, Adidas launched its new kids’ collection in China, which includes apparel, shoes, and accessories for kids.
North America is expected to witness the second-fastest growth in the coming years. Growing sports activities among children is expected to drive the demand for kids’ sports footwear in the region. Additionally, the presence of prominent players such as Nike and Adidas is expected to further boost the market growth in the region. For instance, in March 2022, Adidas launched children’s collection in the U.S. with a range of footwear, apparel, and accessories.
Financial Projections
In this part of the kids footwear products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your kids footwear products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a kids footwear products business comes from the sale of shoes, sandals, and other footwear items. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, the sale of accessories, and partnerships with related companies.
Projecting Expenses
In this section, all the regular expenses related to keeping the kids footwear products business running will be described. The list of operating expenses includes inventory and supplies, wages, maintenance and repairs, utilities, insurance policies, advertising and marketing, and others.
Key companies & market share insights
Some of the key companies operating in the kids’ footwear market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Nike Inc. launched the Air Max 2 Light sneakers for kids, designed to provide maximum comfort and cushioning.
– In August 2022, Adidas AG launched the Mini Streetball, a kids’ basketball shoe designed to provide better grip on the court.
– In October 2022, Reebok International Limited launched the Zig Kinetica shoes, designed to provide maximum energy and cushioning for kids.
Some of the prominent players in the kids’ footwear market include:
– Nike Inc.
– Adidas AG
– Reebok International Limited
– New Balance, Inc.
– Skechers USA, Inc.
– Timberland LLC
– Vans, Inc.
– Crocs, Inc.
– Tom’s Shoes
– Under Armour, Inc.
Global Kids Footwear Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global kids footwear products market based on product type, distribution channel, age group and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Athletic Shoes
– Boots
– Casual Shoes
– Dress Shoes
– Sandals & Floaters
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others
3. Age Group Outlook (Revenue, USD Million, 2017 – 2030)
– 0-6 Years
– 7-14 Years
– 15-20 Years
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of the Kids Footwear Market?
[A]: Key drivers of the kids’ footwear market include increasing disposable income, increasing trend of online shopping, and rising demand for custom-made kids’ footwear. The rising awareness about healthy and stylish footwear options among parents is also expected to drive the market.
[Q]: Who are the Key Players in the Kids Footwear Market?
[A]: Key players in the kids’ footwear market include Nike Inc., Adidas AG, Skechers USA, Inc., Kering S.A., VF Corporation, Puma SE, Wolverine World Wide, Inc., Li-Ning Company Limited, and Li Ning Company Limited, among others.
[Q]: What are the Major Product Categories in the Kids Footwear Market?
[A]: Major product categories in the kids’ footwear market include athletic shoes, casual shoes, sandals, and boots, among others.
[Q]: What are the Factors Restraining the Kids Footwear Market?
[A]: Factors restraining the growth of the kids’ footwear market include rising manufacturing costs, due to increasing raw material costs. In addition, the availability of counterfeit products is also expected to hamper the market growth.
[Q]: Which Region Offers the Largest Opportunity for Sales of Kids Footwear?
[A]: Asia Pacific is expected to be the most lucrative market, due to a large population of children, increasing disposable income and awareness about the availability of fashionable and stylish shoes.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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