Global Market Insights, Inc. says breastfeeding accessories market value was over USD 650 million in 2016 and growth is projected at over 10% CAGR to reach $1.4 billion by 2024 led by rigorous initiatives of several governmental and non-governmental organizations for the benefits of breastfeeding.
Implementation of stringent codes and legislations that prohibit the advertising of breast milk substitutes has been acting in favor of the business expansion. As per estimates, globally, around 135 countries have registered under International Code of Marketing of Breastmilk Substitutes. Today, a majority of the female population demand a work life balance. Industry biggies are highly focusing on strategies such as mergers and acquisitions and advanced product developments to have a better hold over the competitive landscape.
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Breast milk storage bag demand should grow at lucrative rate owing to increasing adoption of breast pumps and growing need of working mothers to collect breastmilk and store it for use at a later point in time. Advantages of breast milk storage bags such as greater convenience, requirement of less storage space in refrigerators, low cost and disposable nature will further stimulate demand. Nursing pads are poised to witness robust growth over the forecast timeframe due to comfort provided by the pads from leakage of nipples after breast feeding.
India breastfeeding accessories industry has been also carving a lucrative road map over the past few years. Significant economic development that has resulted in rising disposable incomes is ensuring the growth prospect of the market in this region. In addition to this, increasing awareness concerning the benefits of breast feeding along with numerous initiatives undertaken both by private and public sectors have fueled breastfeeding accessories market adoption. Germany breastfeeding accessories market will also witness lucrative gains over 2017-2024.
Browse key industry insights spread across 95 pages with 38 market data tables & 18 figures & charts from the report, “Breastfeeding Accessories Market” in detail along with the table of contents:
Implementation of policies like WHO code along with other supportive initiatives undertaken by renowned organizations encouraging breastfeeding have indeed provided a significant impetus to breastfeeding accessories market. Over the years, the industry has expanded remarkably which is quite evident from its diversified product spectrum including sore nipple cream, nursing pads, breast milk storage bags, breast shells, nipple shields, cleaning pads, and breast milk bottles. Breast milk bottles led the product landscape in 2016 and are likely to continue their domination in the global industry over the coming seven years. Owing to their appropriate design, these bottles are quite feasible both for normal feeding purposes as well as through breast pumps. Breast milk storage bags also procured a major portion of the breastfeeding accessories industry. Greater convenience, low cost, compact size, and disposable pattern are some of the factors favoring the product demand.
The business landscape of breastfeeding accessories market has massively evolved over the recent years, pertaining to the technological interventions that have contributed toward the expansion of the product portfolio. Despite the associated high costs, lack of proper awareness, and product substitutes posing as potential threats to the industry penetration across a few regions, breastfeeding accessories market is anticipated to make a headway in the coming seven years, primarily due to the rigorous involvement of business players in R&D activities. Ardo Medical, Medela, Bailey Medical, Koninklijke Philips, Büttner-Frank, Linco Baby Merchandise Works, Hygeia Health, and Mayborn Group are some of the leading companies involved in breastfeeding accessories industry.
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