The global luxury products for kids market is anticipated to reach a valuation of USD 41,669.7 million in 2024, driven by parental influence. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 5.8% between 2024 and 2034, and reaching a total valuation of approximately USD 73,155.9 million by 2034.
One of the major factors contributing to the growth of the luxury products for kids market is inclusivity and diversity. Brands that offer a wide range of sizes, styles, and inclusive marketing campaigns can appeal to a broader customer base. Parents are becoming more conscious of the materials used in products, with a growing preference for natural, non toxic, and organic materials.
Luxury products for kids, including clothing and toys, can be offered through subscription boxes, providing parents with convenience and curated selections. Like adult influencers, child influencers on social media platforms can drive trends and promote luxury products to their followers.
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Collaborating with popular characters of movies, or TV shows of children for licensed products can create a lucrative market segment. Providing luxury event planning services for parties of children, such as customized, high end celebrations, can complement product offerings.
Building and nurturing online communities around the brand can enhance engagement and loyalty, providing a direct line of communication with consumers. The concept of experiential retail is growing, with physical stores providing unique in store experiences for both children and parents, creating a memorable shopping environment.
Established luxury brands can leverage their heritage and legacy to create timeless products that appeal to parents looking for a sense of tradition and quality. Creating limited edition or collectible items for kids can stimulate demand among collectors and enthusiasts.
Encouraging children to have a say in their own luxury purchases can become a trend, as parents emphasize teaching financial responsibility and decision making. Offering gender neutral and unisex luxury products can appeal to a wider audience and align with evolving societal norms.
Key Takeaways from the Market Study
- Global luxury products for kids market was valued at US$ 37,308.5 million by 2023-end.
- From 2019 to 2023, the market demand expanded at a CAGR of 5.2%.
- The market in India is expected to expand at a CAGR of 9.5% through 2034.
- By sales channel, the online sales segment to account for a share of 28.4% in 2024.
- From 2024 to 2034, luxury products for kids market is expected to flourish at a CAGR of 5.8%.
- By 2034, the market value of luxury products for kids is expected to reach US$ 73,155.9 million.
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“Establishing rental services for high end clothing and accessories for children can cater to parents who prefer temporary luxury options for special occasions,” remarks an FMI analyst.
Competitive Landscape
Prominent players in the luxury products for kids market are Gucci Group, United Colors of Benetton, Jack & Jill Clothing Inc., J Crew Group Inc., DKNY, Burberry Group, BLOCH, FENDI, Christian Dior S.A., GAP Inc., and Giorgio Armani S.p.A, among others.
Recent Developments
- In 2023, Fendi launched its new Fendi Kids collection for Spring/Summer 2023, which is inspired by the signature style of the brand, with bold colors and playful prints.
- In 2022, Prada launched its new Prada Kids collection for Fall/Winter 2022, which features a range of fun and stylish clothing and accessories for children of all ages.
- In 2021, Dolce & Gabbana launched its new Dolce & Gabbana Kids collection for Spring/Summer 2021, which is inspired by the Mediterranean lifestyle.
Country-wise Insights
Forecast CAGRs from 2024 to 2034
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global luxury products for kids market, providing historical data for 2019 to 2023 and forecast statistics from 2023 to 2033.
To understand opportunities in the luxury products for kids market, the market is segmented on the basis of product type (kids footwear, kids apparels, and kids accessories), sales channel (supermarket/hypermarket, company’s brand outlet, online store, and others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
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About the Consumer Products Division at Future Market Insights
The consumer product team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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