Baby Care Products Market Analysis by 2031
The market for baby care products is anticipated to be worth USD 8 billion in 2021 and USD 19 billion by 2031, growing at a CAGR of 9% over the forecast period of 2021–2031.
Globally, an increasing urban population is the main factor
driving the growth of the infant care products market. The millennial
generation is becoming more prevalent, which has increased demand for high-end
goods in numerous areas. Thus, it is anticipated that sales of baby care items
will surpass US$ 19 billion between 2021 and 2031, showing a 9% CAGR.
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Baby Care Products Market- Key Takeaways
- Organic
baby care products are highly sought after, despite relatively higher
costs owing to health concerns over chemicals in conventional products.
- Online
sales channels account for higher growth rates owing to the convenience of
home delivery and a larger number of working mothers.
- Asia
Pacific is a leading market for baby care products, driven by higher
disposable incomes and the large and fast-growing population base.
Competitive Landscape:
New product launches and expansion of credit lines to
enhance production processes are two of the core strategies relied upon by key
manufacturers of baby care products. Besides, approaches such as mergers &
acquisitions, collaborations and partnerships with existing players and
research institutes are also relied upon.
- In
March 2020, Munchkin launched a mini sterilizer, which uses UV-C light to
eliminate bacteria and viruses from small baby items. Thus, the usage of
this device makes products safer to use on a daily basis
- In
June 2021, Dorel Industries Inc. announced its entry into a new US$ 450
million senior secured asset based revolving financing with institutional
lenders led by the Bank of Montreal, which will help the company and its
subsidiaries avail credit lines to produce new baby care and other
juvenile products
- iBaby
Labs Inc., a prominent smart baby care solutions provider, offers the
iBaby M6 360-degree monitor camera, permitting parents to keep a watchful
eye on their children, even from far away, with just the swipe of a
finger. The monitor is simplistically designed, providing a crystal clear
high definition image of not just the baby, but also of the entire room
Key Companies Profiled:
- OCCObaby
- Mayborn
Group Limited
- Munchkin,
Inc.
- Helen
of Troy Limited
- Thousandshores
- Koninklijke
Philips N.V.
- iBaby
Labs, Inc.
- The
Boppy Company LLC. (Artsana S.p.A.)
- Babymoov
Baby Care Products Market- Driving Factors
- Higher
awareness among parents about baby hygiene and higher standards of living
drive growth.
- Improvements
in the supply chains and distribution networks of organized retail,
especially in emerging economies will support sales.
- High
birth rates in emerging economies and larger numbers of working women, is
bolstering sales.
Baby Care Products Market- Major Restraints
- Strict
regulations associated to testing of new products, slows down approval,
hindering growth prospects.
- High
capital costs associated with product development is a key challenge for
manufacturers in the industry.
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Key Segments Covered:
- Product
Type:
- Health
Devices
- Baby
Thermometer
- Nasal
Aspirator
- Pre
Natal Health Tracker
- Pregnancy
Water Bottle Tracker
- Baby
Health Tracker
- Feeding
Accessories
- Breast
Pumps
- Formula
Maker
- Baby
Bottles
- Baby
Bottle Warmer
- Baby
Food Maker
- Bottle
Cleaning Sanitizer
- Sleep
Facilitators
- Night
and Noise Machines
- Sleep
Positioner Pillows
- Smart
Bassinet
- Comfort
Facilitators & Support Accessories
- Nursery
Air Purifier
- Nursery
Humidifier
- Nursery
Fan / Air Circulator
- Diaper
Pail/Odor Eliminator
- Diaper
Caddy
- Personal
Care Products
- Health
& Grooming Kits
- Bathing
Accessories (bath tubs, chairs, etc.)
- Baby
Nose Wipes
- Security
Devices
- Buyer
Type:
- Institutional
Buyers
- Residential
Buyers
- Distribution
Channel:
- Modern
Retail
- Specialty
Stores
- Online
Retailers
- Other
How will be insights and market estimations provided in
the Fact.MR report on the Demand Baby Care Products make a
difference?
- The
study takes a closer look at the major economic turmoil, with a focus on
the recent COVID-19 pandemic disruptions
- The
assessment of key growth dynamics highlights the attractiveness of new
automation technologies and offers readers insight on the prospect of
these during the forecast period
- The
study tries to offer a balance perspective of the opportunities in mature
and the most lackluster markets
- Provides
scrutiny of the industry trends that have shaped recent government
policies
- Provides
an account of major breakthroughs in all segments that might change the
course of the market considerably
- Analyzes
how collaborations and partnerships among players from different
industries shape the key growth dynamics in the near future
- Evaluates
the role of various stages of funding on new growth avenues in key
regional markets
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