The major factors that are driving the baby care products market growth are the rising concerns among the parents regarding the health and well-being of their babies. Baby care products are those types of products that include toys, foods, drinks, skincare products, body care products, and safety and convenience products made specifically for infants, roughly between the ages of four to six months to 2 years. Furthermore, the rapid urbanization, growing middle-class population, and further the availability of a variety of different products in the market are also some of the key factors bolstering the growth of the global baby care products market throughout the forecast period. Moreover, the changing lifestyles of the people, especially across the developed economies has further resulted in the growing demand for the convenience-oriented goods and services, which in turn is boosting the demand for various baby care products which majorly include, food and beverages, and safety and convenience products such as prams and car seats among others.
The expansion of distribution channels also provides an impetus for the market to surge in the near future throughout the globe due to the rising penetration of the internet and smartphones has further led to an inclination of parents towards online shopping due to more convenience and numerous economic benefits. Also, the rising investments by key players in the market for R&D to develop new products with plant-based or organic materials to cater to the growing market requirements further propel the opportunities for the market to grow in the coming years.
The rising women workforce is further driving the demand for various baby care products
One of the prime factors that is significantly boosting the demand for various baby care products is the rising women workforce. As a result of the increasing number of working women, growing parental concerns about nutrition, and modern-day time constraints, industry-processed baby food plays an ever more significant role in meeting the nutritional demands of infants and toddlers worldwide. 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 the on the packaged food. Furthermore, due to the changing and hectic lifestyle of the parents, the demand for convenience products such as prams, car seats among others is booming especially in developed economies around the world. Furthermore, numerous government rules and regulations in some countries regarding the safety of the babies is also bolstering the growth of the car seat segment during the coming years.
Baby food is projected to dominate the market
On the basis of type, the global baby care products have been classified into segmented on the basis of type, distribution channel, and geography. By type, the market has been classified into baby food, body care, and safety and convenience among others. The body care segment has been further segmented as diapers and wipes and skin and hair care products. The safety and convenience segment has been segmented on the basis of prams and strollers and car seats. The baby food segment is projected to hold a major market share throughout the forecast period. Rising awareness about the benefits of various types of baby foods depending on the age of the babies, supported by increasing disposable income and rapid urbanization, especially in developing economies with high birth rates is contributing to this dominant demand for baby food over the forecast period.
The body care segment is projected to witness notable growth during the next five years due to the growing adoption of numerous products by the parents in the developing economies around the world. Also, the rapid innovations by key market players for developing the products from organic materials further supplement the growth of this segment during the next five years.
Online sales projected to show robust growth
On the basis of the distribution channel, the baby care products market has been segmented on the basis of online and offline. The offline segment is projected to hold a substantial share during the next five years primarily on the account of reluctance of a major share of the population towards online shopping. Furthermore, the increase in the number of retail outlets along with the opening of new chains of hypermarkets and supermarkets in the developing economies is further bolstering the growth of the offline segment during the forecast period.
The online segment is projected to surge at a robust growth owing to the burgeoning adoption of online distribution channels due to rising smartphone penetration along with the increasing penetration of fast and cheap internet services in both developing and developed economies of the world.
The growing investments by key market players as well as small players in the market in the form of R&D for developing new products and expanding the product portfolio along with facility expansions and acquisitions and partnerships in order boost the production to cater to the rising market demand and also to tap the potential that the market holds further shows the potential for the market to surge during the next five years. For instance, in September 2019, Nestle announced and investment in its organic baby-food producing facility in Portugal for the expansion of its product portfolio and added new products to its range of baby food, NaturNes Bio NutriPuffs. Similarly, in July 2019, Kimberly Clark Corporation announced its new diapers made from plant-based materials for providing extra care to the sensitive skin of the babies.
ABOUT THE AUTHOR:
Rachit Gulati is a Market Research Analyst at Knowledge Sourcing Intelligence, working on estimates and global/regional specific reports on multiple industries ranging from automation to food and beverages, with a special knack for automotive and healthcare. With the addition of his formal education in Economics, Commerce, and Finance, he is able to provide more light on the macro aspects of the story. To read more articles by him, and for more information regarding multiple global markets, visit www.knowledge-sourcing.com.