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Baby Products Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global baby products market was valued at USD 86.8 billion in 2022 and is projected to expand at a CAGR of 5.2% from 2023 to 2030. The rising number of working couples, evolving lifestyle, and growing awareness regarding baby health and safety is expected to drive the global baby products market. The demand for baby products is also increasing due to the rising population and the growing trend of nuclear families. Additionally, parents are becoming increasingly aware of the importance of quality products for their babies, leading to an increase in spending on baby products. Furthermore, the availability of a wide range of baby products in the market is driving the market growth.
The baby diapers segment is expected to dominate the global baby products market during the forecast period. The rising awareness regarding hygiene, the convenience of disposing of used baby diapers, and the increased affordability of the product are driving the segment growth. Furthermore, the rising number of working women is one of the primary factors driving the demand for baby diapers. Additionally, the availability of premium and eco-friendly baby diapers is expected to boost the segment growth.
Moreover, the rising trend of e-commerce platform to purchase baby products is expected to drive the market growth. The availability of a wide range of products and various offers on these products is boosting online sales. Furthermore, the rising penetration of smartphones and the increasing popularity of m-commerce is expected to fuel the growth of the market. In addition, the increasing demand for baby food, baby skin & hair care products, baby apparel, and other baby products is expected to further support the growth of the market.
The emergence of new players in the market is expected to drive the market growth. For instance, in December 2021, Ella’s House, a UK-based cloth diaper retailer, launched a new range of diapers, wipes, and liners. The company is targeting the premium segment of the market and is offering a range of high-end, luxury diapers and wipes. Additionally, the company is also offering a subscription service for their customers. This is expected to further boost the demand for the company’s products in the coming years.
Product Insights
The baby food segment held the largest share of the market in 2022. The growing awareness among parents regarding the importance of healthy and nutritional food for babies is driving the demand for baby food products. According to an article published by Medical News Today, in May 2019, it is important for babies to consume a variety of foods to ensure that they get the nutrients they need for healthy growth. In addition, the presence of many leading baby food companies is also contributing to the growth of the baby food market.
The baby care segment is projected to expand at the fastest CAGR over the forecast period. Increasing disposable income and changing consumer lifestyles are some of the key factors driving the demand for baby care products. According to an article published by the World Health Organization, in April 2019, over 95% of the population in developed countries use baby care products. Furthermore, the growing awareness regarding the safety of baby products is also driving the baby care product market.
Distribution Channel Insights
The supermarkets & hypermarkets segment is expected to hold the dominant share in the baby products market in 2022. Supermarkets & hypermarkets provide a wide range of baby products and provide a one-stop shopping experience for parents. Consumers tend to prefer supermarkets & hypermarkets for convenience, as they can purchase multiple items under one roof. In addition, supermarkets & hypermarkets provide attractive discounts and offers, which drives the market growth in this segment.
The online segment is anticipated to register the highest CAGR of 11.2% over the forecast period. The rapid growth of e-commerce platforms and the increasing availability of internet access are some of the factors that are driving the growth of the segment. Online stores provide a wide range of baby products such as diapers, baby food, baby toys, and baby care products and are gaining popularity among consumers. In addition, online stores provide discounts and offers, which further drives the market growth.
Type Insights
The disposable segment accounted for the largest revenue share of the baby products market in the year 2022. The increasing awareness among parents regarding hygiene and convenience is the key factor driving the demand for disposable products. The rise in disposable income and the trend of working women have increased the demand for convenience-oriented baby products. For instance, Pampers, a brand of Procter & Gamble, offers disposable diapers and wipes. Also, the increasing demand for eco-friendly products is further propelling the market. For instance, Huggies, a brand of Kimberly-Clark Corporation, offers natural care baby wipes, which are made with 99% water and are free from chlorine bleaching, alcohol, parabens, and phthalates.
The reusable segment is projected to expand at the highest CAGR of 8.7% over the forecast period. The growing awareness regarding sustainability and the increasing global population are driving the market for reusable baby products. The rising demand for cloth diapers is contributing to the growth of the segment. Also, the growing popularity of environmentally-friendly products is likely to further boost the segment. For instance, gDiapers, a brand of Little Gummis, offers reusable cloth diapers that are made from soft cotton and have a waterproof outer layer.
Regional Insights
Asia Pacific is expected to witness significant growth in the baby products market over the forecast period. This is attributed to the rising number of young parents in the region and increasing disposable income. The rising awareness of the importance of child nutrition, hygiene, and health is also driving the market growth in the region. For instance, in December 2020, Nestlé India announced the launch of its new baby nutrition range, ‘Nestlé NaturNes Organic’ in the Indian market.
North America is expected to be the second-largest market in terms of revenue. An increase in the birth rate and the rising demand for organic and natural baby products are the prime factors driving the market in the region. The growing trend of households having one or two children is significantly contributing to the market growth in North America. Furthermore, the rising spending on high-quality and technologically advanced baby products is providing a positive outlook for the market in the region.
Financial Projections
In this part of the baby 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 baby products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenue for a baby products business comes from sales of products. Here you will find a list with a description of each of the baby products you plan to sell and other possible sources of profit such as fundraising, wholesale deals, and online sales.
Projecting Expenses
In this section, all the regular expenses related to keeping the baby products business running will be described. The list of operating expenses includes wages, rent, maintenance and repairs, utilities, insurance policies, advertising, product sourcing, and others.
Key companies & market share insights
Some of the key companies operating in the baby products 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 September 2022, Johnson & Johnson launched a new range of baby products, including a baby shampoo, baby lotion, and baby oil.
– In August 2022, Pampers launched its new baby diapers, designed to provide superior absorbency and comfort.
– In June 2022, Huggies launched a new range of baby wipes, designed to be gentle on baby’s skin.
Some of the prominent players in the baby products market include:
– Johnson & Johnson
– Pampers
– Huggies
– Kimberly-Clark Corporation
– Unicharm Corporation
– Nobel Hygiene Pvt. Ltd.
– Bumkins Inc.
– Kao Corporation
– Medline Industries, Inc.
– The Honest Company, Inc.
Global Baby Products 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 men’s grooming products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Baby Food
– Diapers
– Baby Care Products
– Strollers & Car Seats
– Baby Furniture
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Natural
– Organic
– Conventional
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 Growth in the Baby Products Market?
[A]: The growth of the baby products market is driven by factors such as the rising birth rate, increasing health awareness, and the increasing need for convenience in the shopping process. Moreover, the rising spending power of parents on baby products, and the increasing availability of premium products are expected to contribute to the growth of the market.
[Q]: What are the Major Product Segments of the Baby Products Market?
[A]: The baby products market is segmented into infant formula, diapers, baby skin care products, baby bedding, baby furniture, baby food and beverages, and other baby products.
[Q]: What is the Potential of Innovation in the Baby Products Market?
[A]: The baby products market is witnessing a surge in product innovation and development. Companies are continuously introducing new products to meet the changing needs of parents and to provide better convenience. Moreover, companies are launching technologically advanced products that are easy to use and provide better comfort to babies.
[Q]: What are the Key Regions in the Baby Products Market?
[A]: The key regions in the baby products market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
[Q]: Who are the Major Players in the Baby Products Market?
[A]: The major players in the baby products market are Kimberly-Clark Corporation, Procter & Gamble, Unilever, Johnson & Johnson, Nestlé, and Abbott.
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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