The baby stroller market was valued at US$3.068 billion in 2019. A stroller is a type of cart that is primarily used for the easy transportation of infants. Strollers consist of four wheels and a cushioned chair is attached to it. The major factor driving the market growth includes the positive growth in live births in various economies of the world coupled with the rising working population which is augmenting the demand for various baby convenience and care products. Furthermore, the rising middle-class population is also one of the key factors bolstering the market growth during the next five years. The innovations in technology have led to the development of a vast number of multi-functional and customized products that are manufactured to cater to the rising expectations of consumers is also considered to be a key factor driving the baby stroller market growth in the coming years. The market for strollers is also being driven by the fact that these products offer high convenience to the parents despite being highly cost-effective is also amplifying its adoption in both the developed and developing economies of the globe.
The market is also poised to grow on account of the rising traveling trend among the millennial population and baby boomers. This, in turn, is further propelling the growth opportunities for the market to surge in the near future as the booming traveling trend has led to increased adoption of strollers with traveling systems due to the rising demand for easy and painless traveling. Moreover, the positive birth rates, especially in the Asian countries coupled with the increased spending by the parents for the purchase of premium baby products is also boosting its demand across these countries. Also, the compact and stylish designs is further is also positively influencing the demand for strollers.
However, the recent outbreak of the novel coronavirus disease is projected to be a major factor hampering the demand for strollers, especially during the short run. The intense outbreak has led to the implementation of various measures by the WHO such as social distancing and quarantine among others. This, coupled with the temporary halt in the manufacturing activities due to the disruption of manufacturing activities is also considered to negatively impact the growth during the period of the next six to eight months. Also, the ban on travel along with lockdowns in many countries is also projected to hamper the demand for baby strollers, thus inhibiting the market growth to some extent during the short run.
The growing need for convenience and the rising number of women in the workforce is driving the demand for baby strollers
The major factor supplementing the market growth during the next five years is the rising requirements for convenience coupled with the increasingly busy lifestyle that has created a need for the speedy transportation of babies. Rapid urbanization, rising disposable income, and rising female participation in the active workforce have encouraged convenience-oriented lifestyles, making baby foods more baby convenience products more desirable. The market is witnessing increasing demand due to increasing purchasing power of the consumers and busy lifestyle of working women that further causes fatigue and tiredness thereby driving the adoption of strollers to carry the babies to either to the workplaces, parks, and shopping malls among others. As more and more women take up a full-time job and enter fast-paced modern lifestyles, consumers continue to seek convenience and simplicity, increasing the reliance of baby strollers.
Travel system segment will witness a considerable growth
On the basis of type, the baby stroller market has been segmented on the basis of the standard stroller, lightweight stroller, travel system, and others. The travel system segment is anticipated to witness a healthy CAGR throughout the forecast period. The major factor supporting the share of this segment includes the unique features offered by these products that include detachable seats from the main component. The rising trend of traveling in baby boomers and the millennials is one of the major factors driving the growth of this segment during the next five years.
The lightweight segment is anticipated to hold a decent share in the market throughout the forecast period. As the name suggests, these strollers are comparatively lighter than the other types of products available in the market and are also considered highly efficient for transporting the baby to short distances.
The offline segment projected to hold a noteworthy share
On the basis of the distribution channel, the market has been classified into online and offline. The offline segment is estimated to hold a noteworthy share in the market and is projected to continue its dominance throughout the forecast period. The prime factor bolstering the share of this segment include the inclination of a majority of the customers towards shopping of baby from retailers due to personal touch. Furthermore, the penetration of specialty baby stores in both developed and developing economies of the world is also driving the growth of this segment during the next five years.
The online segment is projected to show decent growth in the coming five years the shifting consumer preferences towards online shopping due to ease of payments and doorstep delivery systems is further bolstering the growth. Also, the rapid smartphone and internet penetration is also amplifying the opportunities for this segment to grow throughout the forecast period.
North America to hold a notable share
Geographically, the baby stroller market has been segmented into North America, South America, Europe, Middle East and Africa, Asia Pacific. The North American region is projected to hold a notable share throughout the forecast period on account of the presence of some major players in the region along with the higher purchasing power of the people.
Prominent key market players in the baby stroller market include Astrana USA, Dorel Inc., and Newell Brands among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings.
Major players in the baby strollermarket have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.