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Diaper Bags Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global diaper bags market was valued at USD 6.6 billion in 2022 and is projected to expand at a CAGR of 5.0% from 2023 to 2030. The growing consumer preference for stylish, functional, and efficient diaper bags is driving the market growth. Additionally, the rising number of working parents and the changing lifestyle of the people are driving the demand for diaper bags. Furthermore, the trend of product customization is also playing an integral role in driving the demand for these products. For instance, in April 2021, Fawn Design, a manufacturer of diaper bags, announced the launch of a new product line that provides product customization to its customers.
The increasing demand for multi-functionality and spacious diaper bags is propelling the market growth. Key players in the market are launching products with multiple compartments offering convenience to parents. For instance, in March 2021, Dagne Dover launched its new diaper bag, the ‘Landon’, which has a large insulated pouch for bottles and sippy cups, a separate pocket for wet wipes, and a changing pad. The diaper bag also features a front zip pocket and a side pocket for quick access of items such as wallets and keys.
Furthermore, the rise in the trend of premiumization in demand for diaper bags is also driving the market growth. Manufacturers in the market are producing more stylish and fashionable bags to cater to the demand of the consumers. For instance, in October 2021, JuJuBe launched two new diaper bags in its Iconic collection. The diaper bags are made of water-repellent polyester fabric and feature a gold metallic dragonfly print, which appeals to the modern taste of customers.
The increasing number of innovative brand launches to cater to the growing product demand from customers is expected to further support the growth of the market. For instance, in August 2021, Kate Quinn Organics launched a new line of diaper bags with an environmentally-friendly, minimalist design. The diaper bags are made of certified organic cotton canvas, which is strong and water-resistant. The diaper bags feature a variety of pockets for storage and are designed for both parents and caregivers.
Furthermore, the availability of a wide variety of these products online is accelerating the demand. The e-commerce platform further provides various offers on these products, which is boosting online sales. In addition, the increasing demand for toiletries and other baby products is propelling the demand for the market. Hence, the rising disposable income and changing lifestyle of the people is expected to drive the market for diaper bags in the coming years.
Product Insights
The diaper bags segment held the largest market share in 2020. This segment is anticipated to remain dominant in the market during the forecast period. Increasing birth rates in developing countries, such as India, is expected to fuel the growth of this segment during the forecast period. According to Statista, the total number of births in India in 2021 is estimated to be 28 million.
The multifunctional diaper bags segment is expected to witness the fastest growth during the forecast period. This segment includes diaper bags with multiple compartments that can be used to store diapers, baby wipes, bottles, and other infant care items. Additionally, increasing demand for fashionable diaper bags is expected to drive the growth of this segment. According to a survey conducted by the National Diaper Bank Network, in 2017, more than three-fourths of the surveyed parents said that they preferred buying diaper bags that offer convenience and match their personal style.
Distribution Channel Insights
The online segment is expected to register the highest CAGR of 14.3% over the forecast period. This can be attributed to the increasing number of internet users and rising preference of parents towards online shopping for accessories such as diaper bags. Parents are increasingly using online platforms to purchase such products as they offer convenience and a wide selection of products. Furthermore, e-commerce websites are also offering attractive discounts and special offers on such products, which is further fueling the demand.
The specialty stores segment is expected to hold the second-largest share of the market in 2022. Specialty stores offer a wide range of diaper bags, in various colors and shapes, to suit the customer’s requirement. Customers can get personalized assistance from the sales personnel, which allows them to make informed decisions. Moreover, the presence of specialty stores in convenient locations is a major factor contributing to the growth of this segment.
Type Insights
The conventional diaper bags segment accounted for the largest revenue share of 86.1% in the year 2022. The increasing demand for multipurpose diaper bags and the growing trend of carrying a diaper bag as a fashion accessory are the major factors driving the growth of the segment. Multipurpose diaper bags are becoming more popular due to their versatility and space-saving design, which include multiple compartments to store all the necessary items for a baby. Moreover, the growing trend of carrying a diaper bag as a fashion accessory is accounting for a large share of the market. The rise in the number of working women and the trend of carrying a diaper bag to make a fashion statement is also driving the growth of the segment.
The designer diaper bags segment is projected to expand at the highest CAGR of 14.2% over the forecast period. The growth of the segment can be attributed to the increasing popularity of designer diaper bags among mothers and the rise in the number of working women. Furthermore, the increasing online presence of designer diaper bags is also a key factor driving the segment. For instance, in January 2021, Skip Hop, a designer diaper bag brand, launched a new online shopping platform in the U.S. to provide customers with an easier and faster shopping experience.
Regional Insights
Europe is expected to be the largest regional market for diaper bags, owing to the increasing demand from parents and increasing number of working women in the region. In the United Kingdom, the government has implemented parental leave policies, which has resulted in an increased number of working women, thus driving the demand for diaper bags in the region. In addition, the presence of prominent manufacturers such as Skip Hop and Babymel, further contributes to the growth of the market.
Asia Pacific is expected to witness the fastest growth in terms of revenue during the forecast period. The increasing disposable income and the rising number of working women in countries such as China, India, Japan, and South Korea are the major factors driving the growth of the market. In addition, the presence of prominent manufacturers such as Bumble Bee and Ju-Ju-Be, further contributes to the growth of the market.
Financial Projections
In this part of the diaper bags product 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 diaper bags product business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a diaper bags product business comes from the sale of diaper bags, accessories and other items related to this product. It is important to consider the pricing strategy and the target market of the diaper bags product business, as well as the cost of production and the number of units sold.
Projecting Expenses
In this section, all the regular expenses related to keeping the diaper bags product business running will be described. The list of operating expenses includes cost of materials, labor costs, advertising, shipping and handling, rent, insurance policies, utilities, and others.
Key companies & market share insights
Some of the key companies operating in the diaper bags 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, Skip Hop launched the Moby Smart Sling 3-Stage Diaper Bag.
– In October 2022, Ju-Ju-Be launched a new line of designer diaper bags.
– In August 2022, Fisher-Price launched a line of diaper bag products designed to provide convenience and comfort to parents.
Some of the prominent players in the diaper bags market include:
– Skip Hop
– Ju-Ju-Be
– Fisher-Price
– OiOi
– diaper Dude
– Petunia Pickle Bottom
– JuJuBe International LLC
– Eddie Bauer
– Babymel
– Storksak
Global Diaper Bags 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 diaper bags products market based on product type, material type, end use, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Backpacks
– Messenger Bags
– Totes
– Others
2. Material Type Outlook (Revenue, USD Million, 2017 – 2030)
– Leather
– Polyester
– Nylon
– Others
3. End Use Outlook (Revenue, USD Million, 2017 – 2030)
– Personal
– Commercial
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 the global diaper bags market?
[A]: The key drivers of the global diaper bags market include the increasing number of working mothers, rising disposable incomes, and the changing lifestyle of millennials. Moreover, the availability of a wide variety of products with different features and designs has also contributed to the market growth.
[Q]: What are the major factors restraining the growth of the global diaper bags market?
[A]: High cost and the availability of counterfeit products are the major factors restraining the growth of the global diaper bags market. Moreover, the high competition from local brands has also been affecting the market growth.
[Q]: Which region is expected to have the highest growth rate in the global diaper bags market?
[A]: Asia Pacific is expected to have the highest growth rate in the global diaper bags market due to increasing purchasing power, rapid urbanization, and the presence of a large number of working mothers.
[Q]: Who are the key players in the global diaper bags market?
[A]: The key players in the global diaper bags market include Kipling, JuJuBe, Skip Hop, Petunia Pickle Bottom, Inc., OiOi, Babymel, Babymoov, and Kalencom Corporation.
[Q]: What type of products are available in the global diaper bags market?
[A]: The global diaper bags market offers a wide range of products such as traditional diaper bags, designer diaper bags, convertible diaper bags, backpack diaper bags, and stylish diaper bags.
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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