ALBANY, New York, April 04, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research titled “Baby Care Products Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,” the global baby care products market is expected to reach US$ 109.13 Bn by 2026, expanding at a CAGR of 5.0% from 2018 to 2026. Asia Pacific is projected to account for large share of the global baby care products market during forecast period. Baby care products specially designed taking into consideration the wellbeing of kids. Rise in awareness about health and hygiene of babies has boosted the demand for baby care products.
Increase in disposable income and growth in working women population have augmented the demand for baby care products. Improvement in the economic conditions in developing countries such as Brazil and India has also propelled the demand for baby care products.
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Growth in distribution channels such as online and offline is also driving the baby care products market. Additionally, product innovation and competition driven price reduction are expected to fuel market growth. However, manufacturers are facing distribution and marketing challenges, as internet marketing for baby care products has not emerged significantly in developing countries such as Brazil.
Sluggish growth in multi-level marketing, which is a cheaper and convenient medium for reaching consumers, is also adversely affecting the baby care products market. The baby care products market has been segmented based on product type and distribution channel. In terms of product type, the baby care products market has been divided into baby cosmetics and toiletries, baby safety and convenience products, and baby food/formula. Based on distribution channel, the market has been bifurcated into online distribution channel and offline distribution channel. The baby food/formula segment dominated the market, followed by baby cosmetics and toiletries. The baby cosmetics and toiletries segment has been further sub-segmented into baby skin care products, which includes baby massage oil, body lotions, creams/moisturizers and talcum powder; baby hair care products, which includes baby shampoos and conditioners, baby bath products, which consists of soaps, bubble bath/shower gels; and others, which includes diapers, baby wipes, and baby fragrances/perfumes. In terms of distribution channel, the online distribution channel segment is expected to expand at a fast pace during the forecast period owing to the rise in adoption of smart phones and internet services. The online platform is becoming popular in most countries, giving people the opportunity to order anything at their doorstep. Online distribution channel is an excellent platform for new parents, as it reduces the time taken to shop. E-commerce platform is growing in many countries, due to the increase in Internet penetration. Rise in awareness about health and hygiene of babies and preference for specific products among the parents are boosting the demand for baby care products.
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Based on geography, Asia Pacific dominated the global baby care products market with more than 30% share in 2017. The region is anticipated to maintain its leading position during the forecast period, followed by Europe. China dominates the baby care products market in Asia Pacific, followed by India. Economic conditions are improving rapidly in developing countries such as Brazil, India, and China. This is leading to an increase in disposable income of consumers in these countries, thereby allowing parents to have higher discretionary expenditure on health and wellness of their babies.
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. Companies are focusing on research and development activities along with mergers and acquisitions, and product innovation to strengthen their foothold in the market. Furthermore, strategic partnerships and agreements with other firms are also key business strategies adopted by companies operating in the baby care products market in different regions. For instance, Unilever launched Baby Dove business segment in their product line in order to garner larger share than its competitors. Baby Dove was officially launched in the U.S. in 2017. It consists of several products such as bath bars and wipes. Unilever also developed the New Baby Dove Moisturizer range for babies with dry and sensitive skin.
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