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Baby Care Products Market - Expected to reach US$ 109.13 Bn by 2026, Expanding at a CAGR of 5.0% from 2018 to 2026
Baby Care Products Market - SnapshotBaby care products are divided into different categories such as baby cosmetics and toiletries, baby safety and convenience products, and baby food/formula. Increase in disposable income and rise in working women population are the primary factors expected to drive the demand for baby care products from 2018 to 2026.
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Based on product type, the baby care products market has been segmented into baby cosmetics and toiletries, baby safety and convenience products, and baby food/formula. Of these, the baby food/formula segment accounted for major share of the market in 2017. It was followed by the baby cosmetics and toiletries segment, which has been further split into baby skincare, baby hair care, baby bath, diapers, and others (including baby wipes and fragrance). The baby skin care sub-segment is further divided into baby massage oil, baby lotions, cream/moisturizers, and talcum powder. Preference for specific products among parents has boosted the demand for baby care products. However, internet marketing for baby care products has not emerged significantly in developing countries such as Russia, India, and China. This is anticipated to adversely affect the baby care products market in these countries.
In terms of distribution channel, the online distribution channel segment is anticipated to expand at a rapid pace during the forecast period. The online platform is becoming popular in most countries. It gives people the opportunity to order anything at their doorstep. Consumers can compare prices of different products on different websites and can choose from the various available options. Furthermore, online shopping offers free shipping, home delivery, on-time delivery, and easy exchange and return. Therefore, consumers prefer the online buying model over the offline buying model.
Innovation holds the key for success in the baby care products market, as new and improved products derive larger consumer traction. Rise in demand for organic products is also estimated to boost the demand for innovative products in the near future. This, in turn, is projected to propel the demand for baby care products over the next few years. Based on geography, the baby care products market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global baby care products market with more than 30% share in 2017. The region is likely to maintain its leading position during the forecast period. It is expected to be followed by Europe. Economic conditions are improving rapidly in developing countries such as Brazil, India, and China. Improvement in economic conditions is boosting the disposable income of consumers. This allows parents to have higher discretionary expenditure on health and wellness of their babies. Furthermore, strengthening of economies has translated into higher employment opportunities and better remuneration. This, in turn, is augmenting the baby care products market.
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Based on baby cosmetics and toiletries, the leading players operating in the baby care products market are Unilever Plc, Johnson & Johnson, Procter & Gamble Company, and Kimberly-Clark. In terms of baby food products, Nestle, Abbott Nutrition, Dabur, and Pristine Organics are the key players in the market. Based on baby safety and convenience products, iCandy Strollers, Peg Perego, Maxi-Cosi, and Baby Jogger dominate the baby care products market.
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