Global Industry Analysis, Size, Share, Growth and Forecast 2007 – 2017
Demographic factors play a crucial role in the development of baby care products market worldwide. Some of the key factors impacting healthy growth of baby care market include parents’ preference and awareness about baby care products, growing consumer spending on baby care products, and more women entering the workforce, which is driving the demand for alternatives of traditional baby care methods. These factors in combination with growing number of research demonstrations and the absolute need of hygiene and balanced care of child’s health will continue to drive spending on baby care products.
Mostly baby care supplies are consumed from birth until age four. According to our estimates, there were about 636 million babies aged between 0 years to 4 years in 2010 worldwide and about 553 million (about 90%) lived in developing and less developed economies.On an average, more than 140 million babies are born globally every year, with developing and less developed countries accounting for more than 92% of the births. This trend is expected to remain constant over the next 40 years.
Between 1980 and 2010, number of women entering into main stream workforce has increased considerably all across the globe. The female labor participation rate has increased by 4.1% globally over last three decades. East Asia and Pacific has shown a slight decline of 3%, while Latin America has witnessed the highest growth in women labor during this period. More and more women have started working and therefore they get less time for caring their babies with traditional methods and this fact has created an opportunity for the baby care products market. In the near future, number of working women is expected to increase, which will support the healthy growth of baby care market.
The below diagram illustrates the prospects and potential of various segments of baby care product market. It is evident that baby skin care and toiletries are segments of focus with high market share and positive future outlook. However, baby powder segment is reflecting downside trend and has negative future outlook. Baby hair care segment has small market penetration and has positive outlook for future. Baby sun care segment has lower penetration as parents refrain from taking their child into direct sunlight often. Increasing trend of use of shower gel as preferred bath product for their babies by parents is creating positive future outlook for this segment.
Stakeholders may find the market entry barriers to be at the higher side for baby skin care products, because of high product development costs. Some common entry barriers for all product categories are the stringent legislations regulating the commercialization of baby care products, and the numerous clinical trials required. Baby toiletries is expected to have the lowest entry barriers because this face less regulatory issues and the development costs are relatively less than the other baby care products. Baby bath products and baby hair care products are witnessing robust growth rate and possess huge growth potential in near future.
Post time: Mar-02-2017