According to a report by Grand View Research, Inc.; the global baby products market is anticipated to reach USD 121.0 billion by 2025. Changing lifestyles and expendable income are the primary market drivers. Growing requirement for baby food rich in protein, carbohydrates, iron, and vitamin is anticipated to further propel demand over the forecast period (2014 to 2025).
Increasing birth rate and number of working mother are expected to surge demand for various baby products. Growing awareness regarding health of infants and availability of baby products can further fuel market growth over next few years. Rapidly changing lifestyle among consumers particularly in developing countries is likely to encourage adoption of convenience oriented routine. This factor is anticipated to bode well for market expansion during the forecast period.
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U.S. Baby Products Market revenue, by product, 2014-2025, (USD Billion)
Awareness among parents regarding various baby foods and other products through print and electronic media programs can fuel market over the next few years. Favorable initiatives from government and non-government organizations to promote baby hygiene is likely to positively influence market expansion over the forecast period. Continual technological advancements in manufacturing processes to maintain high quality and hygiene is anticipated to give fillip to demand for baby products.
High demand for convenience and safety products including car seats and strollers can augment growth of market during the forecast period. However, high manufacturing costs owing to numerous quality checks can restrict expansion of the market to a certain extent. Manufacturers are required to meet basic rating criteria for safety and quality of products while manufacturing baby products. This factor can obstruct growth of the market during the forecast period.
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Global Baby Products Market, by cosmetics & toiletries, 2015
The worldwide baby products market can be segregated on the basis of product type and region. Based on product, the market can be categorized into baby food, toiletries and cosmetics, baby food, and baby safety and convenience. In 2015, cosmetics and toiletries dominated the market and accounted for around 48% market share. Major players are expected to focus on innovation to develop advanced compositions, designs, and performance with the help of improved technology.
In addition, governments in emerging economies are likely to promote baby care programs to educate parents regarding the benefits of using baby products. This factor is estimated to fuel growth of the overall market during the forecast period. The segment can be divided further into bath, skin care, and hair care. High demand for these products to protect babies from irritation, dry skin, and similar problems can positively influence product demand.
The baby food segment accounted for market share equivalent to USD 20 billion in 2015. Demand for frozen food, milk products, snacks, juices, and cereals is projected to fuel expansion during the forecast period. In addition, rising awareness among parents regarding benefits of infant food can further augment growth in the forthcoming years.
Regional segmentation includes Europe, North America, Asia Pacific, Central and South America, and Middle East and Africa. In 2015, U.S. dominated the North America market and accounted for around 70% market share attributed to availability of high-value items. Online availability of baby items is likely to further boost regional sales during the forecast period. Local manufacturing companies are expected to engage in innovation to produce technologically advanced products at affordable prices. In addition, attractive packaging and product modification to cater to needs of regional customers is anticipated to drive demand over the forecast period.
Asia Pacific was valued at 17.64 billion in 2015 owing to food safety incidents in the region. Changing lifestyle and rising urbanization is predicted to fuel regional market growth during the forecast period. In addition, rising disposable income of families attributed to growing female workforce can positively influence market in the region.
Some of the leading companies baby products market are Kimberly-Clark Corporation, Procter & Gamble Company, Johnson & Johnson Plc, Nestle S. A., and Unilever Plc. Intense competition is likely to encourage producers to focus on product differentiation, innovation, and affordable pricing structure. Hence, companies are expected to invest in R&D activities to maintain market share and achieve sustainable growth.
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