SEATTLE, Sept. 10, 2018 (GLOBE NEWSWIRE) -- The global diaper bags market was valued at US$ 600 Mn in 2017 and is projected to witness a CAGR of 6.2% over the forecast period (2018–2025). Growth of the global diaper bags market is attributed to convenience offered by diaper bags to store baby related items. Increasing travelling and growing birth rate in African and Asia Pacific countries is expected to drive the global diaper bags market growth. For instance, according to the World Tourism Organization international tourist arrivals grew by a remarkable 7% in 2017 to reach a total of 1,322 million. Factors such as these are expected to drive demand for diaper bags during the forecast period. However, factors such as lower awareness about diaper bags in the emerging economies is a major restraint for growth of the global diaper bags market.
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Key Trends and Analysis of the Diaper bags Market:
- Online segment is projected to be the fastest growing distribution channel segment over the forecast period. Growing penetration of the internet globally is a major driver that is expected to propel growth of the online distribution channel during the forecast period. According to the World Trade Organization, global online retail sales were estimated to reach 8.8% of total retail spending in 2018 as compared to 7.4% in 2016.
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Key Market Takeaways:
- Among product type, backpack segment was valued at US$ 150 Mn in 2017 and is expected to increase during the forecast period as a backpack diaper bag looks like a regular backpack that distributes the load evenly to avoid back pain with extra pockets to hold wipes and changing pads, among other items
- Key players such as Carter's, Inc., Sanrio Co., Ltd., Graco operating in the global diaper bags market are investing significantly to enhance their presence in the global market. For instance Kinbuilt introduced a diaper bag in 2018 that has a quiet-close zippers, a waterproof bottom, and handy cards to list contact, medicine and allergy info. This bag also fits under airplane seat and can be used while travelling.
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