USD 215.1 Billion
Report ID: SQMG30L2005 | Region: Global | Published Date: December, 2022 | Pages: 157
Global Baby Product Market was valued at USD 215.1 Billion in 2021, and it is expected to reach a value of USD 325.57 Billion by 2028, at a CAGR of 6.10% over the forecast period (2022-2028).
Consumer preferences are shifting towards high-quality, utility-driven, and premium baby products, which is one of the primary factors driving market growth. Moreover, the significant increase in awareness among parents regarding baby's health and hygiene fuels Baby Product Market growth, and many medical practitioners recommend parents use personal care products on a regular basis for better skin nourishment of the baby, which boosts Baby Product Market growth. Innovative products with low environmental and health risks, combined with market penetration in untapped rural areas, are expected to drive Baby Product Market growth during the forecast period.
Global Market Size
USD 215.1 Billion
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The Global baby product market is segmented based on product, distribution channel, and region. Based on product it is categorized into: cosmetics & toiletries, baby food, baby safety & convenience. The global baby products market is segmented into three major segments including baby cosmetics & toiletries, baby food, and baby safety & convenience. The baby cosmetics & toiletries segment is further bifurcated into baby skincare, bath, baby hair care, and other cosmetics & toiletries products. Baby food is sub-segmented into baby milk, frozen baby food, baby juice, baby food snacks, and baby food cereals. Baby safety & convenience is further segmented into baby strollers and baby car seat market. By distribution channel, the Baby Product Market studied is segmented into supermarkets/ hypermarkets, convenience stores, pharmacies/drug stores, online retailing, and others. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Product
The baby food segment leads the Baby Product Market and is expected to grow at a rate of 5.6% in terms of revenue during the forecast period. Baby food is designed and formulated in such a way that infants and toddlers can easily consume and digest it. It comes in a variety of flavours, textures, and shapes. Baby food can be mashed table food or it can be readily available and purchased from a manufacturer. Rapid urbanization, the working class's hectic work schedules, and changing lifestyles are driving the demand for packaged foods for babies. An increase in parental concerns about their baby's nutrition has been a primary factor driving the segment's growth.
The baby cosmetics and toiletries segment accounted for the second-largest market share and is expected to grow at the fastest rate during the forecast period. Baby skincare accounted for more than 35% of the market. Toiletries such as body lotion, moisturizer, and baby shampoo are commonly used by parents to ensure the baby's health and hygiene. Baby lotions moisturize and soften their skin while protecting it from dryness and irritation. While baby shampoo is smoother and used to clean a baby's delicate skin and hair without stripping it of moisture.
The baby safety and convenience segment accounted for a sizable share of the market and is expected to expand steadily in the coming years. The Baby Product Market has been driven by a noticeable trend toward nuclear families and a growing need for infant protection, as well as an increasing number of government initiatives to combat the rising number of infant deaths.
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In 2021, Asia Pacific is expected to grow at a CAGR of 6.7%. The number of working mothers and the rise in birth rates in developing countries such as India and China is driving the Baby Product Market in this region. According to the EPRA International Journal of Economic and Business Review, female labor-force participation has increased by 4.1% over the last three decades, boosting demand for baby-related products such as baby food, baby cosmetics & toiletries, and baby safety & convenience. Moreover, an increase in disposable income increased consumer spending power, boosting product demand. During the forecast period, North America is expected to grow at a CAGR of 4.6%. Consumers in countries such as the United States and Canada are willing to pay a high price for their baby's life and health. Working parents, government initiatives for infant safety, and early adoption of advanced products have all contributed to the market's growth in North America.
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The market includes both international and domestic participants. Key Baby Product Market player’s focus on strategies such as innovation and new product launches in retail about natural products to enhance their portfolio offering in the market. The key Baby Product Market players for the baby products are Johnson & Johnson, Procter & Gamble Co., Avon Products, Inc., Beiersdorf AG, Kimberly-Clark Corporation, Unilever, L'Oral S.A. and among others.
Top Players Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, manufacturers in the baby product Baby Product Market are focusing on expanding their consumer base by emphasizing opportunities presented by Asia-Pacific emerging markets. To mitigate the impact of a single promotion, key players are investing in physical retail and promotions. The return on investment is likely to be driven by omnichannel strategies. Organic baby infant nutrition and prebiotics-infused infant nutrition products are gaining traction in recent years.
|Market size value in 2021||USD 215.1 Billion|
|Market size value in Prod||USD 325.57 Billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Baby Product Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Baby Product Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Baby Product Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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